Stock Market Today: GIFT Nifty indicates a bullish start; GST collections climb 10% YoY to Rs 1.65 lakh crore

Stock Market Today: Dalal Street appeared to be off to a good start on Tuesday as the GIFT Nifty on the NSE IX moved higher by 19 points, or 0.09 percent, at 21,864. On the first day of the year, Nifty reached a new high, but on Monday it finished 11 points higher, forming a high wave-like candlestick pattern on the daily chart. At 72,272, the 30-share BSE benchmark Sensex increased by 32 points, or 0.04%. To close at 21,742, the overall NSE Nifty increased by 10 points, or 0.05%. Sensex saw lows of 72,031.23 and highs of 72,561.91, its lifetime intraday peak, during the day.

Stock Market Today: FIIs sold out Indian shares; DIIs continue to provide support

FIIs sold out Indian shares worth Rs. 855.80 crore in the cash market on Monday, but they continued to be net sellers in the F&O index futures segment, selling out shares worth Rs. 285.35 crore. But DIIs are still there to support the Indian stock market in both directions. DIIs purchased shares valued at 410.46 crore in the cash market and 21,175.32 crore in the F&O index futures segment.

GST collections climb 10% YoY to Rs 1.65 lakh crore

The Ministry of Finance reported on January 1 that the government's Goods and Services Tax (GST) collections increased by 10% year over year to Rs 1.65 lakh crore in the final month of 2023. The December GST collections, at Rs 1.65 lakh crore, are 2% less than the Rs 1.68 lakh crore collected in November. The monthly GST collection has exceeded Rs 1.5 lakh crore for the tenth consecutive month. According to the most recent GST data, Rs 1.66 lakh crore was collected on average each month in 2023–2024. After the pandemic struck in 2020–21, collections quickly increased from an average of less than Rs 1 lakh crore per month in 2017–18, to an average of Rs 1.51 lakh crore in 2022–23.

Disclaimer: (This information is provided solely for informational purposes. It is important to note that investing in the market or a business idea involves market risks. Before investing money as an investor/ owner/ partner, always consult an expert. DNP News Network Private Limited never advises to invest money on stocks or any specific business idea. We will not be liable for any financial losses.)

Keep watching our YouTube Channel ‘DNP INDIA’. Also, please subscribe and follow us on FACEBOOK, INSTAGRAM, and TWITTER