Market Turns Around: Nifty 50 and Sensex close well above 0.50%

On Thursday, Indian equity market ended the day trading in the green. Nifty 50 opened at 25,771.40, reaching a high of 25,922.80, and closing at 25,898.55, up by 0.55%. Similarly, the BSE Sensex opened at 84,456.75, reached a high of 84,906.93, and ended at 84,818.13, up by 0.51%.Reasons for the positive sentimentThe markets traded in the green due to several reasons:The positive investor sentiment came after India’s chief economic advisor, V. Anantha Nageswaran, stated that most of the trade issues between India and the US have been “sorted out”.The U.S. Federal Reserve reduced its benchmark interest rate by 25 basis points, which will generally support flows into emerging markets, such as India, and improve the business spending outlook for sectors like IT.The positive cues from the U.S markets.Major Indices Today IndicesLTPPrev closeChangeNifty 5025,898.5525,758.000.55%BSE Sensex84,818.1384,391.270.51%Next 5067,939.5067,572.400.54%Bank Nifty59,209.8558,960.400.42%Fin Nifty27,561.9027,404.300.58% Nifty and Sensex traded in green, led by the gains in IT, Banking, and Automobile stocks.Nifty Next 50 traded in green, led by the gains in Pharma, IT, and Automobile stocks.The Bank Nifty traded higher after savings deposits in rural areas rose by 10% amid increasing rural incomes, and after the Fed reduced rates by 25 basis points, which will help boost liquidity in Indian markets.Sectoral Indices Today IndicesLTPPrev closeChangeNifty IT38,097.0037,789.900.81%Nifty Auto27,661.0027,358.251.11%Nifty FMCG54,619.6554,506.000.21%Nifty Pharma22,783.4522,561.500.98%Nifty Healthcare14,715.1014,577.450.94%Nifty Oil & Gas11,796.6011,799.95-0.03% Nifty IT traded in green after the Federal Reserve reduced the benchmark interest rates by 25 basis points for December, which will positively impact export-oriented Indian IT companies.Nifty Auto traded in the green amid broader market sentiment.Nifty FMCG traded higher as FMCG companies like Nestle India aim to grow in rural markets, and Unilever CEO Fernando Fernandez sees "massive" opportunities in the Indian economy and believes its Indian arm, Hindustan Unilever, will be the primary beneficiary of a more dynamic economic environment.Nifty Pharma traded in green after Cipla launched Yurpeak, a new injectable medication for obesity and type-2 diabetes, amid broader market sentiment.Nifty Oil & Gas traded flat after news that the oil ministry is planning a major restructure of the board of Indian Oil Corporation (IOCL), sparking caution among investors.Market Movers TodayKaynes Technology India shares rose by 6% after brokerage firms ICICI Direct, Prabhudas Lilladher, and Macquarie issued a positive call on the stock.Shakti Pumps shares rose by 13% after the company received an order worth ₹443.78 crore from the Maharashtra State Electricity Distribution Company (MSEDCL) to empanel 16,025 off-grid DC Solar Photovoltaic Water Pumping Systems (SPWPS) across the state of Maharashtra.DCM Shriram shares rose by 9% after DCM Shriram Limited and Bayer Crop Science Limited signed a MoU to establish a strategic framework for collaboration across agri-inputs, digital advisory, sustainable farming practices, and value-chain strengthening.Hindustan Zinc shares rose by 4% after silver hit a new high following a rate cut by the Fed by 25 basis points.Top Gainers Company NameLTPPrev CloseChangeKFin Technologies1,074.001,025.904.69%Vodafone Idea11.2510.724.94%Dixon Technologies12,964.0012,351.004.96%BSE2,698.802,581.704.54%Kaynes Technology India4,041.503,890.503.88% Top Losers Company NameLTPPrev CloseChangeSupreme Industries3,234.203,297.10-1.91%AU Small Finance Bank973.00993.70-2.08%Cholamandalam Investment1,719.401,744.00-1.41%Bharat Petroleum351.30355.15-1.08%Aditya Birla Capital354.45358.95-1.25% 52W High Stocks Company NameLTP52W highChangeEicher Motors7,256.007,328.500.38%Samvardhana Motherson International119.80120.163.03%Cummins4,531.904,588.30-0.08%Ramco Systems654.40673.506.61%Cupid394.40395.001.23% 52W Low Stocks Company NameLTP52W lowChangeTrent4,047.503,930.100.73%Vedant Fashions582.20579.40-1.75%Page Industries37,065.0036,575.001.01%Piramal Pharma171.79169.580.47%BASF3,909.603,888.00-2.36% High Volume Stocks Today Company NameLTPPrev CloseChangeHFCL66.8466.041.21%Yes Bank21.9421.721.01%Suzlon Energy52.0451.540.97%Eternal290.95283.252.72%Tata Steel166.38162.232.56% IPOsThe IPOs of Park Medi World and Nephrocare Health Services are open and will close on 12th December.Allotted today:The shares of Wakefit Innovations and Corona Remedies were allotted today. Investors can check the allotment status on the BSE and NSE websites.Market AnnouncementsSamvardhana Motherson International shares rose by 3% on heavy volumes, with average trading volumes jumping eight times to 23.85 million equity shares changing hands on the NSE and BSE.Tata Steel shares rose by more than 1% after the company unveiled its latest expansion blueprint, including an extensive capex roadmap and strategic initiatives with an aim to boost capacity, strengthen raw material security, and expand its geographic footprint.

Market Turns Around: Nifty 50 and Sensex close well above 0.50%

Read Similar Articles