Nifty Soars to New High, Closes Above 20,250; Sensex Surges by 493 Points
Sensex and Nifty Today 1 December 2023: Indian stock markets ended with significant gains on Friday, as positive macroeconomic data helped Indian equity benchmarks maintain their winning rally. Sensex and Nifty traded positively throughout the day, despite negative cues from other Asian markets. Nifty hits all time high at 20291.55 level.
The latest data released on Friday showed that India`s manufacturing sector growth improved in November, as strengthening client demand and more favorable input supply boosted production volumes.
According to the seasonally adjusted S&P Global report, India’s Manufacturing Purchasing Managers’ Index (PMI) grew to 56.0 in November 2023 from 55.5 in October 2023.
Traders became optimistic after the provisional data from the National Stock Exchange showed that FIIs infused Rs 8,147.85 crore on November 30 alone, foreign investors continued their buying spree in Indian equities for the fifth straight session. The NSDL data showed that foreign portfolio investors (FPIs) bought stocks worth around $1.2 billion in the last four sessions.
Sensex and Nifty Today
The Nifty today closed higher by 134.75 points or 0.67 percent and closed at 20267.90 levels while the Sensex was up by 492.75 points or 0.74 percent and finished at 67481.19 levels. The Bank Nifty index ended higher by 332.45 points or 0.75 percent on the spot level and closed at 44814.20 levels.
The broader markets also closed higher today, as the Nifty midcap index was up by 473.50 points or 1.10 percent and closed at 43382.40 levels. The Nifty smallcap index ended higher by 67.95 points or 0.48 percent at 14239.30 levels.
Nifty50 Top Gainers & Losers
The top gainers in the Nifty50 index were ITC, NTPC, Axis Bank, L&T, and Britannia, and the top losers were Hero Motors, M&M, Wipro, HDFC Life, and SBI Life.
The top gainers in the Nifty midcap index were PFC, Dixon, and REC Ltd and the top losers were Ashok Leyland, Tata Communication, and APL Apollo Tubes.
The smallcap top gainers were Amara Raja Energy, Fin Cables, and Birla Corp while the top losers were Suzlon, Cochin Shipyard, and MCX
The most active stocks in the Nifty index in terms of value were HDFC Bank, Reliance, and ICICI Bank. The most active stocks in terms of volume were Tata Steel, NTPC, and Power Grid.
On the sectoral front,barring Auto all other sectors closed higher with Media, PSUBank, and FMCG sectors gaining the most on Friday.
Global Stock Market Updates Today
The other Asian stock market indexes mostly ended lower on Friday despite the positive cues from Wall Street overnight, as investors assessed the manufacturing activity data across the region. Japan’s Nikkei ended slightly lower by 0.17% as the country’s Manufacturing PMI fell in November but slightly better than the survey reading. Australia’s S&P ASX 200 index is down by 0.20%, snapping a three-day winning streak.
South Korea’s Kospi fell the most in the region, down by 1.21% despite the country’s factory activity data in November coming steady after a gap of 17 months. Shanghai erased early losses and closed slightly higher by 0.06% as the country’s manufacturing activity showed surprise growth in November. Meanwhile, Hang Seng extended early losses and closed lower by 1.07%.
Elsewhere, the Strait Times and Taiwan ended higher while SET Composite and Jakarta are in red. European stock market indexes are trading higher on Friday, as investors are optimistic that the US Fed will start reducing interest rates from next year after the cooling PCE inflation data on Thursday.
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