Stock Market Today: Nifty 50, Sensex end at fresh closing peaks; investors richer by about ₹2 lakh crore in a day | Mint
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Business News/ Markets / Stock Markets/  Stock Market Today: Nifty 50, Sensex end at fresh closing peaks; investors richer by about 2 lakh crore in a day
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Stock Market Today: Nifty 50, Sensex end at fresh closing peaks; investors richer by about ₹2 lakh crore in a day

Nifty 50 closed at 20,997.10, up 28 points, or 0.13 per cent while the Sensex settled at 69,928.53, with a gain of 103 points, or 0.15 per cent.

Nifty 50 touched its fresh record high of 21,026.10 during the session on Monday, December 11. (Agencies)Premium
Nifty 50 touched its fresh record high of 21,026.10 during the session on Monday, December 11. (Agencies)

Nifty 50 and Sensex ended with mild gains on Monday, December 11, still at their fresh closing highs, as enthusiasm following better-than-expected Q2 GDP prints and the BJP's victories in significant states like Madhya Pradesh, Rajasthan, and Chhattisgarh waned, and focus shifted toward pivotal central bank policy decisions this week.

The US Fed's policy outcome is due on Wednesday while the European Central Bank (ECB) and the Bank of England (BoE) will meet on Thursday.

The US Fed, ECB and BoE are expected to keep interest rates steady. 

Mixed global cues offered limited support to the domestic market benchmarks.

Nifty 50 today opened at 20,965.30 against the previous close of 20,969.40 and touched its fresh record high of 21,026.10 during the session. The index finally closed at 20,997.10, up 28 points, or 0.13 per cent.

The 30-share pack Sensex today opened at 69,925.63 against the previous close of 69,825.60 and touched its fresh record high of 70057.83 during the session. Sensex crossed the 70,000 mark for the first time today.

The Sensex finally closed 103 points, or 0.15 per cent, up at 69,928.53.

The BSE Midcap index also hit its record high of 35,638.01 during the session but closed at 35,610.50, up 0.91 per cent. The BSE Smallcap index closed with a gain of 0.71 per cent.

The overall market capitalisation (m-cap) of BSE-listed firms rose to nearly 351.1 lakh crore from 349.2 lakh crore in the previous session, making investors richer by about 1.9 lakh crore in a single session.

Nearly 370 stocks, including HCL Tech, ICICI Bank, IndusInd Bank and UltraTech Cement, hit their fresh 52-week highs in intraday trade on BSE.

Top Nifty 50 Gainers Today

As many as 28 stocks ended higher in the Nifty 50 index today.

Shares of UltraTech Cement (up 3.19 per cent), UPL (up 3.04 per cent) and Adani Enterprises (up 1.41 per cent) ended as the top gainers in the Nifty 50 index today.

Also Read: M-cap of these two Adani Group firms jumped by over 50,000 crore in last 5 sessions

Top Nifty 50 Laggards Today

Some 22 stocks ended lower in the Nifty 50 index.

Shares of Dr. Reddy's Laboratories (down 5 per cent), Axis Bank (down 1.43 per cent) and Cipla (down 1.24 per cent) ended as the top laggards in the Nifty 50 pack today.

Also Read: Chris Wood's GREED and Fear raises India's weightage, cuts China's; details here

Sectoral Indices Today

Nifty Pharma (down 0.76 per cent) and Nifty Healthcare (down 0.65 per cent) ended as laggards among the sectoral indices.

On the other hand, Nifty PSU Bank (up 1.36 per cent), Media (up 1.28 per cent), Metal (up 1.04 per cent) and Realty (up 0.85 per cent) closed with significant gains.

Nifty Bank closed 0.11 per cent higher.

Also Read: Nuvama bullish on tier-2 IT stocks, LTIMindtree among brokerage's top picks; here's why

Experts' Views on Markets

"The Sensex 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," said Vinod Nair, Head of Research at Geojit Financial Services.

Technical Views on Nifty 50

Jatin Gedia, Technical Research Analyst at Sharekhan by BNP Paribas pointed out that on the daily charts, the Nifty is trading around the level of 21,000 which can act as a psychological resistance from a short-term perspective.

"Overall, the trend is positive and in case of a dip towards 20,870 – 20,850, it should be used as a buying opportunity. The up move is likely to be slow and steady considering the sharp runup it witnessed last week. Sector rotation and stock-specific action are likely to keep the index elevated from a short-term perspective," said Gedia.

Read all market-related news here

Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decisions.

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Published: 11 Dec 2023, 03:30 PM IST
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