Sensex scales mount 70K, ends 103pts up; broader indices outrun, PSBs shine

Closing Bell on December 11, 2023: The BSE Sensex registered a new summit at 70,058, but eventually settled at 69,929 on Monday. Nifty gained 28 points at 20,997.

Stock market highlights: India's benchmark stock indices scaled newer heights on Friday on the back of positive momentum in select banking, metal and IT shares. 

The S&P BSE Sensex scaled a high of 70,058, and eventually ended 103 points higher at 69,929. The NSE Nifty 50 hit a high of 21,026, and settled with a gain of 28 points at 20,997.

UltraTech Cement was the top gainer among the Sensex 30 shares, it jumped 3.5 per cent. Nestle India, Power Grid Corporation, IndusInd Bank, JSW Steel, Tata Motors and NTPC were the other prominent gainers. On the flip side, Axis Bank, Mahindra & Mahindra and Hindustan Unilever slipped around a per cent each.

Among individual shares, Dr Reddy shed 5 per cent after Antique Stock Broking flagged an ‘imminent’ warning letter from the US drug regulator on DRL's formulations technical operation unit-3 (FTO-3) in Bachupally, Hyderabad. Read More

The broader indices outperformed. The BSE MidCap index jumped 0.9 per cent, while the SmallCap added 0.7 per cent.

Meanwhile, the Nifty PSU Bank index also hit a new high and was the top out-performer of the day. Read More

4:16 PM

COMMENT:: Some profit-taking seen ahead of inflation, US Fed meet

"The market crossed 70,000 levels today, while the broader market outperformed the main indices. However, profit booking was evident at higher levels as traders anticipated clues from tomorrow's significant data releases on inflation from the US and India, as well as the IIP. While US inflation is predicted to remain stable, the market anticipates a rise in domestic inflation. The better-than-expected US job data and a moderate increase in US bond yields from the recent lows, however, also encouraged investors to book profits at higher levels. Investors will be closely watching the upcoming FOMC meeting tomorrow for clues about potential future rate cuts while expecting to keep rates the same this time."

 

- Vinod Nair, Head of Research at Geojit Financial Services

 

4:08 PM

BSE Smallcap Heatmap:: Cheviot zooms 20%; Coffee Day, Wockhardt soar over 14%

4:00 PM

BSE Midcap Heatmap:: TI India, IRFC, GMR Infra shine; HPCL whines

3:57 PM

Broader Market Check:: MidCap, SmallCap indices outperform benchmark Nifty; VIX rises 2%

3:54 PM

Nifty Movers & Shakers:: UltraTech, UPL soar 3%; Dr Reddy tanks 5%

3:52 PM

Sensex 30 Heatmap:: 19 Gainers v/s 11 Losers

3:49 PM

CLOSING BELL:: NSE Nifty50 settles with a gain of 28 pts at 20,997

3:48 PM

CLOSING BELL:: S&P BSE Sensex ends 103 pts higher at 69,929

3:26 PM

Global check:: US, UK stock futures trade on a flat note

Source: Investing.com

3:17 PM

Ficci expects economy to grow at 7.5-8% this fiscal, 8% in 2024-25

Indian economy recorded a growth of 7.8 per cent in the first quarter (April-June 2023-24) and 7.6 per cent in the second quarter (July-September 2023-24). READ MORE

3:07 PM

PSBs in focus; BOI surges 5% on QIP success, PNB's m-cap nears Rs 1 trn mark

The Nifty PSU Bank index hit a new high at 5,589, and has rallied over 10 per cent in the last one month. READ MORE

2:58 PM

Govt expects onion prices to fall below Rs 40 per kg by January: Official

Last week, the government banned onion exports till March next year after the retail sales price of the kitchen staple crossed Rs 80 per kg in the national capital. READ MORE

2:45 PM

Biden's 2024 dilemma: US economy looks solid, voters still not feeling it

Pollsters and economists say there has never been as wide a gap between the underlying health of the economy and public perception. READ MORE

2:32 PM

Sector ALERT:: OMCs on slippery ground; HPCL down 4%

2:19 PM

JSW USA to raise $145 mn loan for capex Moody's affirms stable ratings

JSW Steel USA, a unit of the Indian conglomerate, is raising $145 million to finance capital expenditure and improve slab casting machines and other facilities at its plant in Jefferson County in Ohio. READ MORE