Sensex soars 372 pts, Nifty ends near 21,800; Azad Engineering jumps 29%

Closing Bell on December 28, 2023: The S&P BSE Sensex hit record high level of 72,484 and the NSE Nifty50 claimed 21,801 intraday

Stock market highlights: The record breaking spree continued for the benchmark indices Thursday with the S&P BSE Sensex hitting 72,484 level and the NSE Nifty50 claiming 21,801.

The indices, eventually, ended slightly lower than day's high levels with the Sensex settling at 72,410 (up 372 points) and the Nifty  closed the Decembe F&O derivatives series at 21,779 (up 124 points). Both the benchmarks advanced 0.5 per cent each.

The gains were led by Coal India, Dr Reddy's Labs, Tata Motors, NTPC, M&M, BPCL, Power Grid, Hero MotoCorp, Nestle India, Britannia Industries, Cipla, ITC, Kotak Bank, and ONGC.

In the broader markets, the BSE MidCap index gained 0.66 per cent, and the BSE SmallCap index added 0.23 per cent.

Among sectors, the Nifty IT index felll 0.07 per cent, and the Nifty Media dropped 0.28 per cent. On the upside, the Nifty Auto, FMCG, Metal, PSU Bank, and Healthcare indices rose over 1 per cent each.

The Nifty Bank index, which ended 0.47 per cent higher hit s record high of 48,636.45 intraday.

3:59 PM

Tech View :: 'Nifty remains firmly in bullish territory'

The Nifty remained firmly in bullish territory as the index surged to a new all-time high. Strong put writing at the 21,700 strike bolstered the bulls, propelling the index toward 21,800.

Short-term support is situated at 217,00, signaling a continued bullish sentiment. A decisive move above 21,800 could lead the index toward the 22,000 mark.

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

3:47 PM

Comment :: 'Suggest continuing buy-on-dips approach'

The rotational buying in heavyweights across sectors is helping the index to inch higher, and we expect the same trend to continue.

Besides, favorable global cues are further adding to the positivity. We thus reiterate our bullish view and suggest continuing with a “buy on dips” approach. 

Views by: Ajit Mishra, SVP - Technical Research, Religare Broking 

3:46 PM

Comment :: Here's what drove markets to all-time highs today

The benchmark index maintained its optimism and hit fresh high owing to ease in Red Sea issue and reversal of FII inflows.

A decline in crude oil prices below $80 prompted widespread purchasing across oil and energy companies.

The Asian market, too, advanced due to an expectation of more aggressive rate cuts by fed next year.

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

 

3:44 PM

Currency check :: Rupee gains 18 paise vs US dollar

3:43 PM

SmallCap Heatmap :: Index underperforms, ends just 0.23% higher

3:42 PM

MidCap heatmap :: Index edges 0.77% higher; HPCL, SAIL end as top gainers

3:40 PM

Nifty Heatmap :: Only 13 stocks end lower; Coal India, Dr Reddy's Lab charge

3:38 PM

CLOSING BELL :: Nifty settles near 21,800

3:37 PM

CLOSING BELL :: Sensex ends at record closing levels, tops 72,400

3:27 PM

ALERT :: Sona Comstar gains over 2.5% on report Tesla may set up factory in Gujarat

>> Tesla is poised to establish its car manufacturing plant in Gujarat, with the official announcement expected during the forthcoming Vibrant Gujarat Summit in January 2024, the report said.

>> Sona Comstar is the only Listed India Vendor Supplying to Tesla

3:13 PM

SpiceJet's resurgence could disrupt Indian aviation market: CAPA India

Earlier this month, cash-strapped SpiceJet announced it is going to raise a total of Rs 2,241.5 crore through issuance of equity and warrants -- Rs 1,591.5 crore will be raised by issuance of equity to 58 entities and Rs 650 crore will be raised by issuance of warrants on a preferential basis to five other entities. READ MORE

3:01 PM

Global check:: US, UK stock futures marginally in red

Source: Investing.com

2:49 PM

State banks to snap two-month streak of selling govt debt: Report

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2:36 PM

PNB soars 6% on heavy volumes; stock price has more-than-doubled since April

Thus far in the month of December, PNB has appreciated by 25% on consistent improvement in headline asset quality metrics, and steady reduction in fresh slippages over the recent past. READ MORE

2:21 PM

Tech companies planning to step up hiring in tier-2, tier-3 cities in 2024

Tier-2 and tier-3 cities such as Thiruvananthapuram, Kochi, Coimbatore, Jaipur, Mohali, Vadodara, Chandigarh, and Indore contribute around 12-15 per cent of the country's tech talent. READ MORE