Stock Market Close Highlights: Sensex extends rally, rises 111 pts led by HDFC Bank; Nifty ends flat
Market Highlights: The BSE Sensex has now gained around 1,900 points in the last four trading sessions; Bajaj Finserv, NTPC and Titan were the other top gainers among the Sensex 30 shares on Wednesday
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Stock Market Highlights, Wednesday, Decemer 4, 2024: Benchmark equity indices BSE Sensex and NSE Nifty50 ended Wednesday's choppy session in positive territory, extending their winning streak for the fourth consecutive session. Sensex settled 110.58 points or 0.14 per cent higher at 80,956.33, trading in the range of 81,245.39-80,630.53.
The NSE Nifty50 ended at 24,467.45, up 10.30 points or 0.04 per cent. Nifty50 scaled day's high of 24,573.20 during intra-day trade, while the day's low was seen at 24,366.30.
30 out of the 50 constituent stocks on Nifty50 ended in the red, dragged by Bharti Airtel, Cipla, Bajaj Auto, Tata Motors, and Adani Ports, with losses extending up to 2.28 per cent. HDFC Life, HDFC Bank, Apollo Hospital, NTPC, and Bajaj Finserv, on the other hand, were among the 20 stocks that ended in the green, with gains extending up to 2.52 per cent.
Notably, index heavyweight HDFC Bank ended at a record high closing of Rs 1,860, after scaling its 52-week high of Rs 1,865 during intra-day trade on Wednesday. HDFC Bank alone contributed 217 points to the BSE Sensex; had it not been for HDFC Bank the markets could have ended in negative zone.
Broader markets outperformed the benchmarks, with the Nifty Midcap100 index ending higher by 1.05 per cent. The Nifty Smallcap100 index, too, ended in the green, up 0.89 per cent.
The fear index, India VIX, which gauges volatility in the markets, ended higher by 0.86 per cent at 14.50 points.
Banking shares were the best performers on Wednesday, as Nifty PSU Bank index ended as the top gainer among the sectoral indices, ending higher by 2.25 per cent. Bank Nifty and the Nifty Private Bank index ended higher by 1.08 per cent and 0.86 per cent, respectively. Among others, Nifty Financials, IT, Realty, and Healthcare indices ended higher by up to 2.14 per cent, while Nifty Auto, Metal, Pharma, FMCG, and OMCs indices settled in the red with losses of up to 0.71 per cent.3:53 PM
Expert Comments: Powell's speech could sway market mood
"The domestic market maintained a positive trajectory, despite some volatility stemming from mixed sentiments in Asian markets due to the situation in South Korea. Broader indices showed strong performance, with the banking and financial sectors continuing to excel. Conversely, auto stocks were impacted by mixed November sales results. The upcoming speech by the FED Chair could sway market sentiments, as recent FED minutes have shown confidence in the easing of inflation. Although the effects of US policies under the new administration remain uncertain, the minutes suggest a probable continuation of the rate easing cycle."
- Views expressed by Vinod Nair, Head of Research, Geojit Financial Services.
- Views expressed by Vinod Nair, Head of Research, Geojit Financial Services.
3:45 PM
Stock Market Highlights: Key movers & shakers in the SmallCap space
3:43 PM
Stock Market Highlights: UCO Bank, Central Bank led the charge in MidCap shares, rising up to 12%
3:39 PM
Stock Market Highlights: MidCap, SmallCap indices outperformed with gains around 1%
3:38 PM
Stock Market Highlights: 15 Sensex shares ended higher led by HDFC Bank; Airtel down 2% was the top loser
3:36 PM
Stock Market Highlights: NSE Nifty 50 ended marginally higher at 24,467, up 10 points
3:34 PM
Stock Market Highlights: BSE Sensex ended higher for the fourth straight day, up 111 points
The BSE Sensex has rallied around 1,900 points in the last four trading sessions starting last Friday.
3:20 PM
Stock Market LIVE Updates: Rupee update
USDINR CMP- 84.72 (spot) Indian Rupee opened higher on positive domestic markets and fresh FII inflows. However, Rupee lost initial gains amid strong Dollar and a positive tone in crude oil prices. Dollar strengthened amid upbeat JOLTS job openings data from the US and disappointing Caixin Services PMI data from China which fell to 51.2 in November vs forecast of 52.4.
We expect Rupee to trade with a negative bias on strong Dollar and positive crude oil prices. FII outflows. Worries over slowdown in the economy may further weigh on the Rupee. However, positive domestic markets may support the Rupee at lower levels. Geopolitical tensions in the Middle East may also support the US Dollar. Traders may take cues from ADP non-farm payrolls and ISM services PMI data from the US. USDINR spot price is expected to trade in a range of Rs 84.50 to Rs 85.
Views By: Anuj Choudhary – Research Analyst at Mirae Asset Sharekhan
Views By: Anuj Choudhary – Research Analyst at Mirae Asset Sharekhan
3:07 PM
Stock Market LIVE Updates: Alembic Pharma gets tentative USFDA nod for Olopatadine drug; stock up 2%
Stock Market LIVE Updates: Shares of pharmaceutical company Alembic Pharmaceuticals advanced 2.15 per cent to Rs 1,123 on the National Stock Exchange (NSE) during intra-day deals on Wednesday, December 4, 2024. The northward movement in the company’s share price followed news that the company had received tentative approval from the US Food and Drug Administration (USFDA) for its abbreviated new drug application (ANDA) for Olopatadine Hydrochloride Ophthalmic Solution USP, 0.7 per cent (OTC). READ MORE
3:02 PM
At 3 PM, the BSE Sensex was 24 points, or 0.03 per cent higher at 80,870, while the Nifty 50 was at 24,438, lower by 19.15 points, or 0.08 per cent.
Stock Market LIVE Updates: 3 PM market update - Sensex, Nifty trade muted
Stock Market LIVE Updates: Benchmark Indian equity indices BSE Sensex and Nifty 50 were trading on a muted note on Wednesday.
At 3 PM, the BSE Sensex was 24 points, or 0.03 per cent higher at 80,870, while the Nifty 50 was at 24,438, lower by 19.15 points, or 0.08 per cent.
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First Published: Dec 04 2024 | 8:06 AM IST