Sensex gains 327 pts in first session of 2023, Nifty nears 18200; RIL up 1%

Closing Bell: Among sectors, the Nifty metal index was the top performer of the day, which jumped 2.4 per cent after global brokerage Jefferies changed its stance on the sector to 'positive'

CLOSING BELL

STOCK MARKET HIGHLIGHTS

The first trading session of 2023 turned out positive for domestic equities as the frontline indices closed with firm gains on Monday. 

The BSE Sensex swinged to a low of 60,765 during the day before gaining strength to close 327 points higher at 61,168. Though this was off the day's high of 61,223. The NSE Nifty touched a low of 18,086 but bounced back to close at 18,197, up 92 points. 

Overall, the trade was undecisive throughout the session due to a lack of global triggers with most markets being closed on account of the new year holiday. 

Tata Steel (up 5.8 per cent), Tata Motors (up 1.8 per cent), ICICI Bank(1.5 per cent), M&M (1 per cent) and Reliance (1 per cent) emerged as the top Sensex winners. Hindalco and ONGC were the additional gainers on Nifty, up around 3 per cent each. 

On the flip side, Asian Paints, Titan, Tech M, Bajaj Finance, Sun Pharma, Nestle, HUL, Divi's Labs, Bajaj Auto and Hero Moto were the top index losers, which shed up to1.4 per cent. 

The broader markets outweighed the gains in the Sensex benchmark with the BSE Smallcap and Midcap indices closing 0.8 per cent and 0.6 per cent higher, respectively. 

Among sectors, the Nifty metal index was the top performer of the day, which jumped 2.4 per cent after global brokerage Jefferies changed its stance on the sector to 'positive'. Read why Jefferies has turned bullish on metals

Other sectoral gainers included Nifty Realty, PSB and financial services while Nifty Pharma and consumer durables underperformed and lost up to 0.4 per cent. 

European shares

Some markets in Europe rose in Monday's trade with STOXX Europe 600, DAX and CAC 40 gaining 0.8-1.5 per cent. Markets in London and Dublin were meanwhile closed. 

IPO Watch

Sah Polymers' Rs 66.30 crore IPO was fully subscribed on the second day. As of 3:40 PM, the issue was subscribed by 1.78 times with the retail portion subscribed 6 times. The initial public share sale ends on January 04.