The gains came even as India's manufacturing activity lost some momentum in December, with the Manufacturing PMI easing to a three-month low of 55.5
APL Apollo said Q3FY22 sales volume of 402,729 tons declined QoQ due to channel de-stocking in anticipation of steel price correction and extended monsoons, which impacted the construction activity.
According to rating agency CRISIL, the domestic textile industry is firmly on course to recover in fiscal 2022 on the back of reopening of businesses, educational institutions and retail outlets.
But returns from equities may moderate, warn experts
The primary market was abuzz with activity as well, with a record amount garnered through initial public offerings, including those from several new-age firms
There has been a surge in demand for residential property in the aftermath of the pandemic, but prices haven't budged much due to excess inventory
The Nifty gained 150 points, and was up 24.1 per cent for the year; Textile shares logged smart gains today after the GST Council deferred rate hike; Debutant CMS Info Systems witnessed a late rally
Initial public offerings to get the biggest slice of fund-raising pie in 2022
Strong SIP book and new fund offers blaze the trail
The broader indices ended on a mixed note; among sectors, the IT index was up a per cent, while the energy, oil & gas and metal indices declined over a per cent each
Going forward, analysts said investors should be cautious due to Omicron and interest-rate concerns
With China being a problem child for foreign investors, India has made a killing with new issuances
The BSE Midcap and the Smallcap indices were up 0.1 per cent and 0.5 per cent, respectively. The overall breadth also was fairly positive, with 2,043 advanced shares v/s 1,334 declining stocks.
The stock of ASM Technologies was locked in the upper circuit for the 12th straight day, up 5 per cent at Rs 687.50, quoting at an all-time high level on the BSE
Ongoing strategic review to help improve volume, profitability in the long term
Reduced FII activity, positive newsflow around economic growth have lifted sentiment
The BSE Midcap index and Smallcap indices also finished with smart gains of 1 per cent and 1.5 per cent, respectively.
ICRA expected strong performance of Gokaldas Exports in the coming quarters on the back of its established market position and strong relationship enjoyed with large international customers.
The benchmark Sensex ended the session at 57,420 - a gain of 296 points, or 0.5 per cent
After listing, the company has a market capitalisation of Rs 615.47 crore