Domestic equity barometers ended near the flat line with small gains on Monday. The Nifty settled below the 21,750 mark after hitting the day?s high of 21,834.35 in late trade. Media, oil & gas and PSU bank shares advanced while financial services, auto and bank stocks decline.

As per provisional closing data, the barometer index, the S&P BSE Sensex, was up 31.68 points or 0.04% to 72,271.94. The Nifty 50 index added 10.50 points or 0.05% to 21,741.90.

The benchmarks, Nifty50 and Sensex hit a fresh all-time high of 21,834.35 and 72,561.91 respectively.

The broader market outperformed the headline indices. The S&P BSE Mid-Cap index rose 0.54% and the S&P BSE Small-Cap index gained 0.73%.

The market breadth was strong. On the BSE, 2,541 shares rose and 1,350 shares fell. A total of 156 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, advanced 1.22% to 14.68.

Buzzing Index:

The Nifty Media advanced 1.78% to 2,430.60. The index jumped 2.27% in four trading sessions.

Dish TV India (up 5.74%), Zee Entertainment Enterprises (up 3.77%), TV18 Broadcast (up 3.07%), Hathway Cable & Datacom (up 2.12%), Network 18 Media & Investments (up 1.32%), PVR Inox (up 0.08%), Nazara Technologies (up 0.05%) rallied.

On the other hand, D B Corp (down 1.96%), Sun TV Network (down 0.27%) and Saregama India (down 0.26%) edged lower.

Stocks in Spotlight:

Grasim Industries shed 0.38% after the company announced that its chemical division has successfully commissioned additional 123,000 tons? annual capacity of advanced materials (Epoxy Resins and Formulation) manufacturing capacity at Vilayat, Gujarat.

Dr. Reddy's Laboratories added 0.36%. The company, through its wholly-owned step-down subsidiary Dr. Reddy?s Laboratories, Inc., has acquired 1,014,442 preferred A-1 shares (equivalent to 6.46% stake) of Edity Therapeutics. Edity Therapeuticsis is an Israel based development stage biotechnology company.

Bajaj Auto declined 1.49%. The company said that it has sold 3,26,806 units in the month of December 2023, which is higher by 16.08% as compared with 2,81,514 units sold in the same period last year.

Mahindra & Mahindra (M&M) fell 1.43%. The auto maker announced that its overall auto sales for the month of December 2023 stood at 60,188 vehicles, registering a growth of 6.19% as against 56,677 vehicles sold in December 2022.

Further, the company's Farm Equipment Sector (FES) announced that its total tractor sales (domestic + exports) during December 2023 were at 19,138 units, registergin a decline of 18% as against 23,243 units for the same period last year.

Eicher Motors fell 2.60%. The auto maker's unlisted subsidiary, VE Commercial Vehicles (VECV) reported 11.1% year on year increase in commercial vehicles (CV) sales to 8,026 units in December 2023.

Yes Bank jumped 5.50% after the bank informed that it has received Rs 150 crore from a single trust in the security receipts portfolio after sale of NPA portfolio.

Meanwhile, the bank received an order from the Goods and Services Tax (GST) department, Tamil Nadu on 31 December 2023 raising demand for tax liability and interest on various GST issues in addition to levy of a penalty of Rs 3.01 crore.

Global Markets:

Most of Europe and Asia markets have a market holiday today. The US stock market will remain closed today on New Year?s Day.

U.S. stocks closed modestly lower on Friday, the last trading day of 2023, capping a robust year-end rally as investors eyed easier monetary policy in the year ahead.

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