Indices at record highs! Sensex soars 702 pts, tops 72K; Nifty holds 21,650

Closing Bell on December 27, 2023: Healthy buying in HDFC Bank, Infosys, Bharti Airtel, Ultratech Cement, L&T, Tata Motors, ICICI Bank, SBI, Axis Bank, and M&M lifted the benchmark indices

Stock market highlights: Domestic equities traded in a thin range for better part of the day on Wednesday, but picked pace towards the fag-end of the session amid buying in HDFC Bank, Infosys, Bharti Airtel, Ultratech Cement, L&T, Tata Motors, ICICI Bank, SBI, Axis Bank, and M&M.

The Nifty50 index hit a fresh record high of 21,676 in the intra-day trade, ending mildly lower than this level at 21,655, up 213 points or 1 per cent. 

The S&P BSE Sensex, meanwhile, claimed a new lifetime high of 72,098. It ended at 72,038, up 702 points or 0.98 per cent. 

The broader markets, though rose in tandem with the frontline indices, underperformed them in session today. The BSE MidCap index added 0.41 per cent, and the BSE SmallCap index rose 0.20 per cent. 

Among sectors, the Nifty PSU Bank index gained 2 per cent, the Nifty Auto index 1.38 per cent, the Nifty Metal index 1.39 per cent, and the Nifty bank index 1.13 per cent. 

3:52 PM

Comment :: Here's all that happened in the markets today

The upbeat domestic market continued reaching a new record high and easily recovered the last week's losses. This upward trend was predominantly supported by the Santa Claus rally in anticipation of early rate cuts by the US Fed and cooling global inflation. Additionally, the news of major shipping companies resuming operations through the Red Sea despite ongoing tensions further bolstered domestic sentiment.

Views by: Vinod Nair, Head of Research at Geojit Financial Services

3:47 PM

Tech View :: 'Nifty Bank's next target is 48,800'

The Bank Nifty recently experienced a breakout from consolidation as observed on the daily chart.

It's been consistently maintaining a position above a critical moving average. Additionally, the Relative Strength Index (RSI) reflects a bullish crossover on the daily chart.

Looking forward, the index could potentially target levels between 48,500-48,800 on the upside, with a support base at 48,000.

Views by: Rupak De, Senior Technical Analyst at LKP Securities

3:44 PM

Tech View :: 'Breakout above 21,500 to take Nifty towards 21,800'

The Nifty experienced a significant rally as Put writers amassed substantial positions at 21,500. Additionally, the daily chart showcased a breakout from consolidation.

The Relative Strength Index (RSI) indicates a bullish crossover, coinciding with the index positioned above a crucial moving average.

Looking ahead, the index potentially aims for a range between 21,750-21,800 on the upside, with support resting at 21,500.

Views by: Rupak De, Senior Technical Analyst at LKP Securities

3:43 PM

Currency check :: Rupee ends 16 paise weaker at 83.35/$

3:41 PM

SmallCap Heatmap :: Index ekes out gains of only 0.2%

3:40 PM

MidCap heatmap :: Index lags benchmarks, ends 0.4% higher

3:39 PM

Nifty Heatmap :: 40 of 50 index stocks end lower; NTPC, ONGC, Adani Ent top drags

3:37 PM

CLOSING BELL :: Nifty holds 21,650 at close

3:36 PM

CLOSING BELL :: Sensex settles above 72,000

3:28 PM

ICICI Lombard gets GST notice of over Rs 5.66 cr for alleged short payment

The GST demand has been raised on the grounds of computation of input tax credit eligible to the company and alleged undischarged tax liability due to differences between returns filed by the company, ICICI Lombard said. READ MORE

3:18 PM

Top Sensex contributors at this hour :: HDFC Bank, Infy, L&T, Airtel

3:08 PM

ALERT :: Sensex surpasses 72,000 for the first time

3:02 PM

Global check:: US, UK stock futures marginally up

Source: Investing.com

2:53 PM

Inflows from PE, VC funds to domestic companies plunge to $27.9 bn in 2023

Investments from private equity and venture capital funds into domestic companies declined about 40 per cent to USD 27.9 billion so far this year, while the outflow increased marginally to USD 19.34 billion year-on-year. READ MORE

2:42 PM

ALERT:: BSE Oil & Gas down 0.6%; HPCL, IOC, ONGC slip over 1%