Market Wrap, Dec 7: Here's all that happened in the markets today

The domestic stock market began the week on a strong note as the benchmark indices gained over 0.7 per cent each, led by buying in financial, and FMCG counters.
 

The S&P BSE Sensex rallied 347 points, or 0.77 per cent to settle at 45,427 levels while NSE's Nifty ended at 13,356, up 97 points, or 0.73 per cent.
 

Bharti Airtel (up 3 per cent) was the biggest gainer on Sensex, followed by HUL, HDFC, and ITC - all up over 2.5 per cent.

Market breadth was in favour of the bulls as out of 3,167 companies traded on the BSE, 2,035 advanced and 937 declined while 195 stocks remained unchanged.
 

Further, as many as 310 securities hit their 52-week high in today's trade while 43 hit their one-year low levels.
 

The broader market outperformed the frontline indices. The S&P BSE SmallCap index ended 1.3 per cent higher at 17,542.66 points while the S&P BSE MidCap gained 0.95 per cent to 17,554.
 

On the sectoral front, barring Nifty Realty, all other indices on the NSE ended in the green. Nifty PSU Bank index ended over 2 per cent higher at 1,734 levels.
 

Among buzzing stocks, shares of ONGC surged around 5 per cent on the BSE in the early deals after the company announced its overseas subsidiary has made a "significant strike of oil" in Columbia. The stock eventually settled at Rs 91.95, up over 2 per cent.

Meanwhile, rating agency Moody’s said today that the temporary ban on acquiring new credit card customers and new digital launches imposed on HDFC Bank is credit negative as the lender increasingly relies on digital channels to source and service customers. The stock of HDFC Bank today ended nearly a per cent lower at Rs 1,372 levels.
 

Global markets
 

European shares slipped on Monday as rising tension between the United States and China sapped some appetite for risky assets, while Britain-based exporters outperformed as uncertainty over a Brexit trade deal battered the pound.

Germany’s trade-sensitive DAX index and the pan-European STOXX 600 index fell 0.1 per cent.
 

In commodities, oil prices slipped from multi-month highs as a continued surge in coronavirus cases globally forced a series of renewed lockdowns, including strict new measures in Southern California in the United States, the world’s top oil consumer.