Key benchmark indices ended almost flat after a volatile trading session. The barometer index, the S&P BSE Sensex, ended almost flat at 33,812.26, as per the provisional closing data. The Nifty 50 index rose 6.65 points or 0.06% to 10,442.20, as per the provisional closing data.
The Sensex rose 151.39 points, or 0.45% at the day's high of 33,964.14 in early trade. The index fell 109.38 points, or 0.32% at the day's low of 33,703.37 in mid-afternoon trade, its lowest level since 19 December 2017. The Nifty rose 59.65 points, or 0.57% at the day's high of 10,495.20 in early trade. The index fell 30.90 points, or 0.30% at the day's low of 10,404.65 in mid-afternoon trade, its lowest level since 18 December 2017.
Among secondary barometers, the BSE Mid-Cap index was down 0.62%. The BSE Small-Cap index was down 0.63%. Both these indices underperformed the Sensex.
The market breadth, indicating the overall health of the market, was negative. On BSE, 1,690 shares fell and 1,156 shares rose. A total of 108 shares were unchanged. Breadth was strong in early trade.
Engineering and construction major L&T fell 0.88%. The company announced during trading hours today, 2 January 2017, that its construction arm, L&T Construction, won orders worth Rs 1454 crore across various business segments.
State-run Coal India rose 1.35%. The company said that on provisional basis, the company and its subsidiary companies achieved production of 93% of targeted production at 54.63 million tonnes in December 2017. The company reported offtake at 99% of targeted offtake at 53.44 million tonnes in December 2017. The announcement was made after market hours yesterday, 1 January 2018.
Most auto stocks rose. Maruti Suzuki India (down 1.14%), Eicher Motors (down 3.97%) and Escorts (down 0.06%) declined.
Motorcycle major Hero MotoCorp fell 0.92%. The company registered a sales growth of 43% to 4.72 lakh units in December 2017 over December 2016. The announcement was made during market hours today, 2 January 2018. Hero MotoCorp surpassed the landmark seven million units in cumulative sales in a calendar year. The company sold a record 7,207,363 units of two-wheelers in the period January - December 2017.
Auto major Mahindra & Mahindra (M&M) gained 1.23% after the company reported that total tractor sales rose 30% to 18,288 units in December 2017 over December 2016. The announcement was made during market hours today, 2 January 2018.
M&M's domestic tractor sales rose 32% to 16,671 units in December 2017 over December 2016. Exports of tractors rose 13% to 1,617 units in December 2017 over December 2016. M&M during market hours yesterday, 1 January 2018 said that its total auto sales rose 8% to 39,200 units in December 2017 over December 2016.
Tata Motors rose 2.95%. Continuing its turnaround, Tata Motors today announced a strong sates performance for December 2017. The Commercial and Passenger Vehicles domestic sales in December 2017 was at 54,627 units as against 35,825 units in December 2016, a growth of 52%, due to the increasing demand for vehicles across segments, new product launches and strategic customer initiatives. The announcement was made during market hours today, 2 January 2018.
Bajaj Auto gained 0.05% after total sales rose 30% to 2.92 lakh units in December 2017 over December 2016. Domestic sales rose 25% to 1.49 lakh units in December 2017 over December 2016. Exports rose 35% to 1.43 lakh units in December 2017 over December 2016. The announcement was made during market hours today, 2 January 2018.
Ashok Leyland rose 3.62% after the company said its total sales grew by 79% to 19,253 units in December 2017 over December 2016. Ashok Leyland's sales of medium & heavy commercial vehicles (M&HCV) rose 82% to 15,950 units in December 2017 over December 2016. Sales of light commercial vehicles (LCV) grew by 69% to 3,303 units. The announcement was made during market hours today, 2 January 2018.
SML ISUZU fell 2.21% after the company's sales fell 4.6% to 974 units in December 2017 over December 2016. The announcement was made after market hours yesterday, 1 January 2018.
TVS Motor Company rose 1.19%. The company registered a sales growth of 39% to 2.56 lakh units in December 2017 over December 2016. The announcement was made after market hours yesterday, 1 January 2018.
On the macro front, the Nikkei India Manufacturing Purchasing Managers' Index rose to 54.70 in December 2017 from 52.60 in November 2017. The data was announced during trading hours today, 2 January 2018.
Overseas, European markets tumbled as investors continued to monitor geopolitical unrest in Iran.
Asian shares ended higher after a survey of Chinese manufacturing activity showed stronger-than-anticipated market sentiment. Market in Japan was closed for holiday. US market was shut yesterday, 1 January 2018, on account of New Year's Day.
Chinese factory activity accelerated in December. The Caixin Purchasing Managers Index (PMI) an indicator of conditions at small manufacturers rose to 51.5 in December, up from 50.8 in November and the highest reading since August. A PMI figure above 50 represents growth while anything below points to contraction.
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