Sensex, Nifty open in green on Monday; Tata Motors shares rise 1

Sensex, Nifty open in green on Monday; Tata Motors shares rise 1.45%, Shriram Finance shares fall 1%

Domestic equity benchmarks opened in green on Monday amid mixed sentiment in global markets. The BSE Sensex rose marginally by 30 points or 0.05% to 60,871.24 and NSE Nifty 50 advanced 25 points or 0.14% to 18131.7. The top gainers of the Sensex were Tata Steel, Tata Motors, ICICI Bank, State Bank of India and  Bharti Airtel while Asian Paint, Sun Pharma, Bajaj Finance, Bajaj Finserv and Tech Mahindra were the top losers.Tata Motors, Shriram Finance shares in focus today

Tata Motors shares rose 1.42% to Rs 393.60 on Monday after its subsidiary Tata Passenger Electric Mobility said that it will complete the acquisition of Ford India’s manufacturing plant at Sanand in Gujarat on January 10, 2023. As a part of the acquisition, Ford India will transfer the entire land, buildings, and the vehicle manufacturing plant, along with machinery and equipment, for Rs 725.7 crore. On the other hand, Shriram Finance shares fell 1.15% to Rs 1364.00 after the company informed that it has raised a five-year loan of $100 million from the Asian Development Bank (ADB) through external commercial borrowing (ECB) under its social finance framework.

Sectoral Indices

In the sectoral indices, Nifty Bank was up 0.57%, Nifty FMCG was down 0.19%, Nifty IT was down 0.19%, Nifty PSU Bank was up 0.80% while Nifty Pharma was down 0.91%. The volatility index India VIX was up 2%.

Asian and US stock markets

Other Asian markets remained closed on Monday. On Friday, the US stock market ended lower.

FII and DII data

Foreign institutional investors (FII) sold shares worth a net Rs 2950.89 crore while domestic institutional investors (DII) purchased shares worth a net Rs 2266.2 crore on Friday, December 30, 2022, according to the data available on NSE.

NSE F&O Ban

No stock/security has been placed under the National Stock Exchange’s futures and options (F&O) ban for trade on Monday, January 2, 2023.