Stock Market Close Highlights: Sensex extends gain, adds 600pts, Nifty above 24,450; PSU banks lead

Stock Market Highlights: The day ended in favour of the bulls as 41 out of the 50 constituent stocks of the Nifty50 ended in positive territory, with gains led by Adani Ports, and NTPC

Stock Market Highlights on Tuesday, December 3, 2024:  Benchmark equity indices, the BSE Sensex and NSE Nifty50, extended gains for the third consecutive day to settle in the green on Tuesday. The 30-share Sensex advanced 597.67 points, or 0.74 per cent, to settle at 80,845.75 after climbing to the day's high of 80,949.10.  Mirroring the Sensex, the NSE Nifty50 also added 181.10 points, or 0.75 per cent, to close at 24,457.15. The index traded in a range of 24,481.35 to 24,280.00 on Tuesday.  

  The day ended in favour of the bulls as 41 out of the 50 constituent stocks of the Nifty50 ended in positive territory, with gains led by Adani Ports, NTPC, Adani Enterprises, Axis Bank, and State Bank of India, which rose up to 5.86 per cent. Bharti Airtel, ITC, Hero MotoCorp, HDFC Life, and Sun Pharma, on the other hand, were among the nine stocks that ended lower, with losses extending up to 1.50 per cent.

 

The fear index, India VIX, which measures volatility in the markets, ended down 2.22 per cent at 14.37 points.

 

Among the broader markets, the Nifty Midcap100 and Nifty Smallcap100 indices settled with gains of 0.89 per cent and 0.84 per cent, respectively. 

 

All sectoral indices ended in the green, barring Nifty FMCG and Pharma. 

 

Nifty PSU Bank and Media indices ended higher by over 2 per cent each. This was followed by Bank Nifty, OMCs, and metal indices, which all ended higher by 1 per cent each.

 

 

3:58 PM

Expert View: Focus is now on RBI rate guidance and liquidity management

"Benchmark indices continued to demonstrate resilience amidst positive global sentiment. Investors are now focusing on potential growth drivers, assuming that weak economic data has already been reflected in the recent lacklustre corporate earnings. The immediate attention is expected to remain on the RBI's interest rate guidance and liquidity management. Banking stocks experienced the highest gains due to their interest rate sensitivity, while metal stocks benefited from increased import duties and favourable manufacturing data from China."

- Views expressed by Vinod Nair, Head of Research, Geojit Financial Services

3:49 PM

Expert View: Nifty may test 24,600 - 24,700 on the upside

"Nifty witnessed another day of bullishness as the index moved above the 38.20% Fibonacci retracement level of the previous decline from 26,277 to 23,263. Additionally, the index has broken out of the recent consolidation phase on the daily chart, indicating a rise in bullish sentiment. Furthermore, Nifty has been sustaining above the critical 21-day exponential moving average (21EMA), reinforcing optimism. The sentiment is likely to remain in favor of the bulls as long as the index sustains above 24,400, with the potential to test levels of 24,600–24,700. On the downside, a fall below 24,400 could trigger a correction towards 24,150."

- View expressed by Rupak De, Senior Technical Analyst, LKP Securities

3:48 PM

Stock Market Highlights: Market breadth was fairly bullish with more than 2 gainers for every loser on the BSE

 

3:46 PM

Stock Market Highlights: Sectorally, banking indices outperform; while FMCG dips 2%

 

3:45 PM

Stock Market Highlights: Broader indices - MidCap, SmallCap move in tandem with benchmarks; India VIX dips 2%

 

3:40 PM

Stock Market Highlights: Sensex Heatmap - Adani Ports, NTPC top movers; ITC, Airtel slip

 

3:38 PM

Stock Market Highlights: Nifty 50 index jumps 181 points to 24,457

 

3:36 PM

Stock Market Highlights: Sensex ends higher for 3rd straight day, gains 598 points at 80,846

 

3:28 PM

Stock Market LIVE Updates: This recently listed Mukul Agrawal portfolio stock rose 78% vs issue price

Stock Market LIVE Updates: Shares of Enviro Infra Engineers soared 19 per cent to Rs 263.90 on the BSE in Tuesday’s intra-day trade after the company made a strong debut on Friday, November 29. Currently, the stock of the water supply & management company quotes at a 78 per cent premium when compared with its issue price of Rs 148 per share. READ MORE

 

3:10 PM

Stock Market LIVE Updates: Wipro Bonus Issue: Share trades range-bound; check record date, eligibility

Stock Market LIVE Updates: Shares of IT giant Wipro were in focus on Tuesday, December 3, 2024, as they traded ex-date following the company’s bonus issue. The stock, however, has so far remained range-bound, trading between Rs 296.20 and Rs 289.30 after opening at Rs 295.35 on the National Stock Exchange (NSE). READ MORE

3:02 PM

Stock Market LIVE Updates: 3 PM market update - Sensex, Nifty trade higher

Stock Market LIVE Updates: Benchmark Indian equity indices BSE Sensex and Nifty 50 were trading higher on Tuesday.

At 3 PM, the BSE Sensex was 640.20 points, or 0.80 per cent higher, at 80,888.28, while the Nifty 50 was at 24,466.70, higher by 190 points, or 0.79 per cent.

 

2:58 PM

Stock Market LIVE Updates: China's central bank vows supportive monetary policy as US trade war looms

Stock Market LIVE Updates: China’s central bank governor reaffirmed plans for a supportive monetary policy to promote growth next year, as the economy faces fresh challenges from a looming trade war with the US during Donald Trump’s second term.

 

The People’s Bank of China will “adhere to an accommodative monetary policy stance and orientation” in 2025, Governor Pan Gongsheng said at a financial forum in Beijing on Monday, according to a statement published by the central bank. READ MORE

 

2:49 PM

Stock Market LIVE Updates: Can Fin Homes shares gain over 2% ahead of ex-dividend date; details

Stock Market LIVE Updates: Shares of housing finance company Can Fin Homes advanced 2.25 per cent to hit the day’s high of Rs 832.95 on the National Stock Exchange (NSE) during intra-day trade on Tuesday. A combined total of nearly 0.37 lakh shares of the company, estimated to be worth around Rs 30.61 crore, exchanged hands on the NSE and BSE.

The uptick in Can Fin Homes' share price came ahead of the ex-date following the company’s announcement of a dividend of Rs 6 per share for its shareholders. READ MORE

 

2:44 PM

Stock Market LIVE Updates: Speculation over RBI Guv Shaktikanta Das' extension grows after GDP miss

Stock Market LIVE Updates: One of India’s worst GDP growth misses in recent memory is suddenly adding more pressure on central bank Governor Shaktikanta Das, who still hasn’t gotten an extension even though his term expires next week.

 

Economists are speculating over the future of Das in the wake of data showing the South Asian economy expanded 5.4 per cent from July to September, a seven-quarter low and far below the Reserve Bank of India’s 7 per cent projection. READ MORE

 

2:34 PM

Stock Market LIVE Updates: IndiGo sues M&M unit Mahindra Electric over use of '6E' in new EV

Stock Market LIVE Updates: Indigo airlines' operator Interglobe Aviation has filed a case against carmarker Mahindra & Mahindra's subsidiary, Mahindra Electric Automobile, in the Delhi High Court, for infringing on its trademark over the use of '6E' in its new electric vehicle Mahindra BE 6E, reported Bar & Bench.