Summary of the Day's Market Performance

Market Overview

• Sensex: Rose 1,436.30 points (+1.83%) to close at 79,943.71.

• Nifty: Gained 445.75 points (+1.88%) to settle at 24,188.65.

• BSE Midcap and Smallcap Indices: Each added 1%, reflecting a broad-based rally.

• Sectoral Performance:

  • Top Performer: Auto Index soared 3.5%, driven by robust December sales.

  • IT Index: Advanced 2%, supported by a rebound in technology stocks.

  • All sectoral indices closed in the green.

💸 Market Transactions:

• Foreign Institutional Investors (FII): ₹1,506.75 crore (Net Buyers)

• Domestic Institutional Investors (DII): ₹22.14 crore (Net Buyers)

FIIs returned as strong net buyers, fueling optimism across the board.

1. Broad-Based Rally:

   • Markets gained momentum across sectors, with optimism around Q3 earnings growth starting next week.

   • Auto stocks led the charge as December sales defied the typical subdued demand.

2. Sector-Wise Highlights:

   • Banking & IT Stocks: Gained as positive economic signals pointed toward a recovery after the bottoming out in Q2.

   • Auto Sector: Continued to lead the rally, buoyed by robust sales and incentives under the PLI scheme.

• What Is the PLI Scheme?

  • The Production-Linked Incentive (PLI) scheme offers financial incentives to manufacturers to increase production in India.

  • The program aims to enhance domestic manufacturing capabilities and reduce reliance on imports.

Key Stock Movements and News

• Top Gainers:

  • Bajaj Finserv, Eicher Motors, Bajaj Finance, Maruti Suzuki, Shriram Finance.

• Top Losers:

  • Britannia Industries, Sun Pharma.

1. D-Mart:

   • Reported 17% revenue growth YoY, reaching ₹15,565 crore, despite challenges from quick commerce competition.

2. ZEEL & Punit Goenka:

   • SEBI rejected settlement applications, signaling further investigations.

3. Tata Motors & M&M:

   • Set to receive ₹246 crore incentives under the PLI scheme, boosting sentiment.

4. Force Motors:

   • Shares jumped over 10% after bagging an order for 2,429 diesel ambulances from the UP government.

5. Bajaj Finance:

   • Surged 5% as Citi maintained a 'Buy' rating with a 17% upside potential driven by Q3 optimism.

6. Kotak Mahindra Bank:

   • Shares gained as Citi Research upgraded the stock to 'Buy', estimating a 16% upside.

7. Indo Farm Equipment:

   • IPO received strong interest, with a subscription of over 226x on the final day.

8. Hyundai India:

   • Announced CRETA Electric, to be offered in four variants; shares rose 2%.

9. Ashok Leyland:

   • Jumped 5% as December auto sales exceeded expectations, with a 5% YoY rise to 16,957 units.

10. CSB Bank:

    Rose is on strong deposit growth and has a healthy gold loan book.

11. Jai Corp:

    Hit a 20% lower circuit following controversy over a land sale to Reliance Industries.

DO YOU KNOW?

• What Is the PLI Scheme?

  • The Production-Linked Incentive (PLI) scheme offers financial incentives to manufacturers to increase production in India.

  • The program aims to enhance domestic manufacturing capabilities and reduce reliance on imports.

1. Bajaj Finance: Positive outlook with Q3 earnings optimism and Citi's 'Buy' recommendation.

2. Force Motors: Significant order win to support stock momentum.

3. Hyundai India: The launch of CRETA Electric positions it as a key player in the EV market.

4. Ashok Leyland: Strong December sales highlight growth potential.

5. CSB Bank: Healthy growth in deposits and gold loans could sustain its rally.

Indian equity markets extended their rally, with the Sensex and Nifty posting significant gains as optimism around Q3 earnings and strong sectoral performances lifted sentiment. FIIs emerged as strong buyers, boosting market momentum. The auto sector led the charge, supported by robust December sales and incentives under the PLI scheme. Meanwhile, stocks like Bajaj Finance, Force Motors, and Kotak Mahindra Bank saw strong gains. The markets are poised for further growth as Q3 earnings season approaches, with continued focus on government policies and domestic economic recovery.

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