Barometers trade with major gains; financial services shares rally

The domestic equity indices traded with significant gains in the mid- afternoon trade, supported by rising hopes of a US Fed rate cut, falling crude oil prices, and FII buying. The Nifty traded above the 26,150 mark. Financial Services share advanced after declining for previous three trading session.

At 14:28 IST, the barometer index, the S&P BSE Sensex soared 1,004.13 points or 1.19% to 85,507.76. The Nifty 50 index surged 288 points or 1.11% to 26,172.15.

In the broader market, the S&P BSE Mid-Cap index rallied 1.14% and the S&P BSE Small-Cap index climbed 1.14%.

The market breadth was strong. On the BSE, 2,695 shares rose and 1,375 shares fell. A total of 186 shares were unchanged.

Buzzing Index:

The Nifty Financial Services index rose 1.38% to 27,788.25. The index fell 0.26% in the previous three consecutive trading session.

HDFC Life Insurance Company (up 2.59%), Bajaj Finance (up 2.57%), Jio Financial Services (up 2.19%), Bajaj Finserv (up 2.14%), Shriram Finance (up 2.11%), Axis Bank (up 1.82%), REC (up 1.61%), HDFC Bank (up 1.54%), Cholamandalam Investment & Finance Company (up 1.46%) and ICICI Prudential Life Insurance Company (up 1.34%) added.

Numbers to Track:

The yield on India's 10-year benchmark federal paper was down 0.03% to 6.489 as compared with the previous close of 6.491.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 89.2700 compared with its close of 89.2275 during the previous trading session.

MCX Gold futures for 5 December 2025 settlement rose 0.46% to Rs 1,25,795.

The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.01% to 99.80.

The United States 10-year bond yield rose 0.18% to 4.007.

In the commodities market, Brent crude for January 2025 settlement fell 17 cents or 0.27% to $62.31 a barrel.

Stocks in Spotlight:

Jayant Infratech hit an upper circuit of 5% after the company received letter of acceptance (LoA) for engineering, procurement, and construction (EPC) contract worth Rs 161.68 crore from Konkan Railway Corporation (KRCL).

Zydus Lifesciences added 1.47% after the company has entered into an exclusive licensing and commercialization agreement with RK Pharma Inc of the US for a novel sterile injectable oncology supportive care product for the US market.

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