Sensex, Nifty end at record highs as BJP clinches 3 state polls; banks soar

Closing Bell on December 4, 2023: The S&P BSE Sensex zoomed over 1,400 points intraday to hit a new record high of 68,918. The Nifty50, on the other hand, hit a fresh lifetime high of 20,703

Stock market highlights: Equity markets scaled fresh peaks in intraday trades on Monday as a clean sweep by Bharatiya Janata Party in three Hindi heartland states assured investors of political stability in 2024, when the nation goes to poll for General elections. 

The S&P BSE Sensex zoomed over 1,400 points intraday to hit a new record high of 68,918. It, eventually, ended at 68,865, up 1,384 points or 2 per cent.

The Nifty50, on the other hand, hit a fresh lifetime high of 20,703 before closing at 20,687, up 419 points or 2 per cent. 

In the broader market, the BSE MidCap index hit a new peak of 35,124 intraday, while the BSE SmallCap index registered new record high of 41,222.  Both the indices ended near these levels, up 1.2 per cent each.

Sectorally, financials led the charge with the Nifty PSU Bank index up 3.88 per cent, the Nifty Bank, and Private Bank indices 3.6 per cent each, and the Nifty Financial Services index 3.25 per cent.

3:55 PM

Tech View :: 'Bank Nifty eyeing 47,200'

Bank Nifty was the leader in today’s upmove as it was up ~3.5% for the day. It has closed at an all-time high and we expect the momentum to continue. On the upside, 47,000 – 47,200 shall be the immediate short-term target and any dip towards 46,200 – 46,000 should be used as a buying opportunity.

 

Views by: Jatin Gedia – Technical Research Analyst at Sharekhan by BNP Paribas

3:46 PM

Comment :: 'Nifty may take a breather around 20,750'

The buoyancy in the banking pack is leading from the front now while others are playing a supportive role and we feel the same trend could continue in the coming days. Besides, cues are favorable from the global front too, further adding to traders’ comfort.

On the index front, Nifty may take a breather around the 20,750 zone and expect the 20,300-20,400 zone to act as a cushion in case of any profit taking. We recommend staying with the trend and utilizing a dip or consolidation as a buying opportunity. 

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

3:43 PM

Currency check :: Rupee ends 7 paise weaker at 83.365/$

3:42 PM

SmallCap Heatmap :: Index ends 1.2% higher

3:40 PM

MidCap Heatmap :: Index surpasses 35,000, ends 1.2% higher

3:38 PM

Nifty Heatmap :: Financials, Adani stocks sprint

3:36 PM

CLOSING BELL :: Nifty hits record high of 20,700 intraday

3:34 PM

CLOSING BELL :: Sensex surges over 1,300 pts as investors cheer BJP win

3:26 PM

NBFC business has to hit the reset button after RBI strengthens norms

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3:14 PM

'Managed investments to more than double to Rs 315 trillion by fiscal 2027'

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3:01 PM

Global check:: US, UK stock futures slip up to 0.5%

Source: Investing.com

2:51 PM

L&T surges 5% to hit fresh high; surpasses its buyback price of Rs 3,200

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2:41 PM

BJP election victories fire up market, 'boost' investor sentiment

Stocks are fired up after the BJP's election victories in Rajasthan, Madhya Pradesh and Chhattisgarh. Brokerages believe the BJP’s victories have reduced political risks for the domestic markets going into 2024. READ MORE

2:30 PM

ALERT:: Apparel Group inks deal with Shoppers Stop for brand expansion; stock down 1%

Shoppers Stop in an exchange filing said that Apparel Group has inkex an exclusively partnered with Shoppers Stop to expand the presence of one of America's top fragrance brands - Bath & Body Works into the Indian market.

2:17 PM

Steel firms to hike quarterly contract prices after downward revision earlier

Steel companies are set to increase their quarterly automative contract prices after a downward revision July to September. READ MORE