Markets end bullish on first trading day of new year amid positive macroeconomic data

Mumbai: Equity benchmarks began the New Year on a strong note, with the Sensex climbing 327 points and the Nifty finishing near the 18,200-mark on Monday as positive macroeconomic data and a firm trend in European equities bolstered investor sentiment.

The 30-share BSE Sensex climbed 327.05 points or 0.54 per cent to settle at 61,167.79. Similarly, the broader NSE Nifty advanced 92.15 points or 0.51 per cent to 18,197.45.

Tata Steel was the biggest gainer in the Sensex pack, vaulting 5.86 per cent, followed by Tata Motors, ICICI Bank, Mahindra & Mahindra, Reliance Industries, Infosys, NTPC and Bharti Airtel.

However, Asian Paints, Titan, Tech Mahindra, Sun Pharma, Bajaj Finance and SBI were among the laggards, losing as much as 1.47 per cent.

The market breadth was firmly in favour of the bulls, with 22 advances and only 8 declines.

The collections from Goods and Services Tax (GST) grew 15 per cent to Rs 1.49 lakh crore in December 2022, indicating improved manufacturing output and consumption demand, besides better compliance.

India's manufacturing sector activity rose to a 13-month high in December, supported by healthy inflows of new business and strong demand conditions, according to a monthly survey.

In the broader market, the BSE smallcap gauge rose 0.84 per cent and midcap index advanced 0.57 per cent.

International oil benchmark Brent crude climbed 2.94 per cent to $85.91 per barrel.

The rupee declined 17 paise to close at 82.78 against the US dollar on Monday amid rising crude oil prices and sustained foreign fund outflows.