Stock Market Today: Nifty, Sensex Close Higher Ahead Of MPC Outcome As HDFC Bank, Infosys, RIL Gain
The Nifty 50 closed at 25013.15 up 0.88% or 217.40 points and the Sensex was at 81634.81, up 0.72% or 584.81 points. Intraday, both the indices gained 1% and 0.88% respectively.
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KEY HIGHLIGHTS
US Futures Gain Ahead Of Comments From Fed Officials
December futures of the US indices rose as the markets await comments from FOMC Member Bostic and trade balance data. The S&P 500 futures rose 0.36% to 5,765.75, and the Dow Jones Industrial Futures rose 0.10% to 42,285.00 as of 3:29 P.M. The Nasdaq 100 futures rose 0.43% to 20,077.75 as of 3:41 p.m
Economic Data To Be Released On Later Tuesday
US: Trade Balance
US: FOMC Member Bostic Speaks
Europe: German Buba President Nagel Speaks
Nifty, Sensex Close Higher Ahead Of MPC Outcome As HDFC Bank, Infosys, RIL Gain: Closing Bell
Benchmark equity indices came out of their six-session losing streak and ended higher as heavyweights HDFC Bank, Infosys, and Reliance Industries led the gains.
They ended higher even as most global markets fell and investors now await the outcome of the monetary policy committee meeting due on Wednesday.
The Nifty 50 closed at 25013.15 up 0.88% or 217.40 points and the Sensex was at 81634.81, up 0.72% or 584.81 points. Intraday, both the indices gained 1% and 0.88% respectively.
"The oversold condition played its part well and after a knee-jerk reaction in the opening trade, one-way up-move was seen throughout the day," according to Aditya Gaggar, director of Progressive Shares. "A firm move above 25,140 will confirm the trend reversal while on the downside, 24,950 will serve as immediate support."
Shares of HDFC Bank Ltd., Reliance Industries Ltd., Infosys Ltd., Trent Ltd., and Mahindra & Mahindra Ltd. contributed the most to the gains.
While those of Tata Steel Ltd., Titan Company Ltd., SBI Life Insurance Co. Ltd., Bajaj Finserv Ltd., and JSW Steel Ltd. capped the upside.
Except Nifty Metal, all indices ended higher with Nifty Media rising the most.
Market breadth was skewed in favour of buyers. Around 3,020 stocks rose, 924 stocks declined, and 101 stocks remained unchanged on BSE.
Broader markets outperformed benchmark indices. The BSE Midcap and Smallcap indices ended 1.86% and 2.44%, higher respectively.
On BSE, 19 sectors advanced and one declined out of 20. The BSE Services rose the most, and the BSE Metal declined the most.
Rupee Strengthens Against US Dollar
Rupee strengthened by 2 paise to close at 83.96 against the US dollar.
It closed at 83.98 on Monday.
Source: Bloomberg
Markets At Close
Nifty and Sensex came out of their six-session losing streak ahead of MPC outcome
Nifty ends 0.97% or 239.65 points higher at 25035.40
Sensex ends 0.8% or 673.3 points up at 81723.30
Broader indices outperformed benchmarks; Nifty Midcap 100 ended 2.3% up and Nifty Smallcap 250 closed 2.25% higher
Except Nifty Metal, all indices ended higher
Trent and Bharat Electronics were top Nifty gainers
SBI Life and Tata Steel fell the most
