Nifty Soars Above 21750, Sensex Gains 372 Points on Energy and FMCG Boost
Sensex and Nifty Today 28 December 2023: Indian stock markets ended with significant gains on Thursday, rising for the fifth straight session. The domestic markets opened higher, tracking positive cues from the global markets.
In an extremely, volatile trade, indices erased some of their early gains in the late morning session, bouncing back ahead of the monthly F&O expiry and amid firm global cues and closing near an all-time high.
Sentiments remained positive as External Affairs Minister S Jaishankar’s statement that India will begin trade negotiations with the Eurasian Economic Union (EEU) bloc of countries for a free trade deal in January.
However, investors shrugged off the concern of a private report that the private equity (PE) and venture capital (VC) investments in India fell by around 41% to $27.89 billion across 697 deals in 2023 so far, compared to $47.62 billion across 1,364 deals in the previous year.
Sensex and Nifty Today
The Nifty 50 index closed higher by 123.95 points or 0.57 percent and closed at 21778.70 levels while the Sensex was up by 371.96 points or 0.52 percent and finished at 72410.39 levels. The Bank Nifty index ended higher by 226.35 points or 0.47 percent on the spot level and closed at 48508.55 levels.
The broader markets also closed higher in line with their larger peers today, as the Nifty midcap index was up by 256.30 points or 0.56 percent and closed at 45815.25 levels. The Nifty smallcap index ended higher by 117.90 points or 0.79 percent at 15051.25 levels.
Nifty 50 Top Gainers & Losers
The top gainers in the Nifty 50 index were Coal India, M&M, Hro Motors, NTPC, and Dr. Reddy, and the top losers were Adani Enterprise, Adani Ports, L&T, Eicher Motors, and LTIM
The top gainers in the Nifty midcap index were Hind Petro, Sail, and Bhel and the top losers were Bharat Dynamics, Tube Invest of India, and Mazgaon Dock.
The smallcap top gainers were Hind Copper, Hudco, and National Allumunium while the top losers were Cyient, Balaji Amines, and Lalyan Jewellers.
The most active stocks in the Nifty index in terms of value were HDFC Bank, ICICI Bank, and Axis Bank. The most active stocks in terms of volume were Power Grid, NTPC, and Tata Steel.
On the sectoral front, barring IT all other sectoral indices closed in the green, with Energy, FMCG, and Pharma gaining the most.
Global Stock Market Updates Today
The other Asian stock market indexes mostly closed higher on Thursday. Markets opened higher following gains from Wall Street overnight however, Japan’s Nikkei closed lower by 0.42% after a rally in the previous session. Australia’s S&P ASX 200 closed 0.70% higher, at its highest level since late April 2022.
South Korea’s Kospi extended its early gains and advanced 1.57% at the close. Hang Seng gained the most in the region, up 2.46%, while Shanghai was also up 1.36%, as gaming stocks bounced back. The Straits Times, Taiwan, SET Composite, and Jakarta also ended higher.
European stock markets are trading near their flat line on Thursday following the positive cues from Wall Street and Asian peers. The trading volume is expected to remain thin in the last two trading sessions of 2023. The mining stocks are gaining the most in the region.
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