Sensex and Nifty declined around 1 per cent in sync with losses in global equity indices

Sensex and Nifty on Monday, January 18, 2021, declined around one per cent in sync with losses in global equity indices. The BSE Sensex closed 470.40 points, 0.96 per cent, down at 48,564.27 and the NSE Nifty 50 fell 152.40 points, or 1.06 per cent, to settle at 14,281.30. The Nifty 50 index fell 435.05 points, or1.35 per cent, to close at 31,811.75

The broader market at BSE also fell, underperforming the Sensex. The BSE Mid-Cap index plunged 2.01 per cent and the BSE Small-Cap index tumbled 1.89 per cent.

Sellers outpaced the buyers. On the BSE, 938 shares rose and 2090 shares fell. On the Nifty 50 index, six shares advanced and 44 shares declined. The top five gainers on Nifty 50 were UPL (up 6.21 per cent), Reliance (up 1.82 per cent), Titan (up 1.40per cent), HDFC Bank (up 0.91 per cent) and Eicher Motors (up 0.09 per cent). The top five losers were Tata Motors (down 6.907 per cent), Tata Steel (down 5.79 per cent), ONGC (down 4.93 per cent), Hindalco (down 4.28 per cent) and JSW Steel (down 4.25 per cent).

COVID-19 update

Total COVID-19 confirmed cases worldwide stood at 9,50,45,802 with 20,30,842 deaths. India reported 2,08,012 active cases of COVID-19 infection and 1,52,419 deaths, while 1,02,11,342 patients have been discharged.

Indian Economy

Excise duty mop-up jumped 48 per cent in the current fiscal on the back of a record increase in taxes on petrol and diesel that more than made up for the below normal fuel sales.

Excise duty collection during April-November 2020, was at Rs 1,96,342 crore, up from Rs 1,32,899 crore mop-up during the same period in 2019, according to data from the Controller General of Accounts (CGA).

China's GDP

China reported GDP rose 2.3 per cent last year as the world struggled to contain the COVID-19 pandemic. The gross domestic product grew by 6.5 per cent in the fourth quarter from a year ago, official data from the National Bureau of Statistics showed. However, Chinese consumers remained reluctant to spend, as retail sales contracted 3.9 per cent for the year. Retail sales for the fourth quarter rose 4.6 per cent from a year ago.

The US markets were closed today for Martin Luther King, Jr. day. On the other hand, the Asian stocks ended on a mixed note today as investors in the region reacted to Chinese economic data, including the country's GDP print for the fourth quarter.