Sensex ends 304 pts up, Nifty tests 21,000 as RBI leaves rates untouched
Closing Bell on December 8, 2023: The BSE Sensex touched a high of 69,894, whil the Nifty hit a peak at 21,006. Infosys, HDFC Bank and ICICI Bank were the major movers on Friday.
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Stock market highlights: Equity benchmark indices ended at record highs on Friday, inspite of some volatility post RBI policy annoucement.
The Reserve Bank of India's Monetary Policy Committee decides to keep the repo rate unchanged at 6.5 per cent and also keeps the FY24 inflation forecast unchanged at 5.4 per cent. It, however, raised GDP forecast for FY24 to 7 per cent. READ MORE
Post the annoucements, the NSE Nifty 50 zoomed past the 21,000-mark, to hit a high of 21,006. However, some profit-taking thereafter saw the benchmark index erase gains and slip into red to a low of 20,863. The Nifty eventually ended with a decent gain of 68 points at 20,969.
The S&P BSE Sensex high a new all-time high at 69,894 towards the fag end of the trading sessions and settled 304 points higher at 69,825.
Infosys, HDFC Bank and ICICI Bank were the major movers for the Sensex, while HCL Technologies, JSW Steel, Wirpo and Axis Bank also ended 1-3 per cent higher. On the other hand, ITC slipped nearly 2 per cent. Mahindra & Mahindra, Bajaj Finance and Tata Motors were the other prominent losers.
The broader indices, however, finished in red. The BSE MidCap was down 0.2 per cent, while the SmallCap slipped 0.4 per cent. The overall breadth too was marginally negative with almost 2,000 shares declining as against 1,750-odd advancing stocks on the BSE.
The broader indices, however, finished in red. The BSE MidCap was down 0.2 per cent, while the SmallCap slipped 0.4 per cent. The overall breadth too was marginally negative with almost 2,000 shares declining as against 1,750-odd advancing stocks on the BSE.
4:08 PM
COMMENT:: FMCG stocks slipped amid concern over likely rise in foodgrain prices
"The RBI took a balanced approach by raising the economic growth forecast and also expressing concern on food inflation, which may have an elevated trajectory in the short-term. A drop in rabi sowing and dipping reservoir levels provides a perception that foodgrain prices can rise. The impact was visible on FMCG stocks, which underperformed today."
- Vinod Nair, Head of Research at Geojit Financial Services
3:57 PM
BSE Smallcap Heatmap:: Spencer, Purva soar up to 17%; Praj slumps 10%
3:54 PM
BSE Midcap Heatmap:: GMR Infra zooms 12%; BHEL, Torrent Power dip 4%
3:51 PM
Broader Market Check:: MidCaps, SmallCaps buck trend, declined up to 1%
3:49 PM
Sensex 30 Heatmap:: 19 Gainers v/s 11 Losers
3:48 PM
CLOSING BELL:: NSE Nifty50 settles with a gain of 68 pts at 20,969
3:44 PM
CLOSING BELL:: S&P BSE Sensex ends 304 pts higher at 69,825
3:25 PM
GMR Airports hits 12-year high; GQG Partners likely buyer in block deal
Shares of GMR Airports Infrastructure zoomed 14 per cent on Friday to hit the highest level in over 12 years. The stock touched Rs 70.22 on the BSE after over 10 per cent equity of the company changed hands on the exchange. READ MORE
3:17 PM
Global Check:: UK stock futures rise up to 0.8%; US flat
Source: Investing.com
3:07 PM
India needs to increase R&D spending to 3% of GDP: Kris Gopalakrishnan
India must triple spending on research and development (R&D) to 3 per cent of its gross domestic product (GDP) from 0.7 per cent now, said Kris Gopalakrishnan, co-founder of Infosys, on Friday. READ MORE
Topics : Stock Market Sensex MARKET WRAP MARKET LIVE stock market trading RBI monetary policy RBI repo rate Dalal Street Markets Sensex Nifty Midcap smallcap stocks auto stocks bank stocks
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First Published: Dec 08 2023 | 7:58 AM IST