Stock Market Highlights: Nifty, Sensex End Higher After Falling Nearly 5% Last Week

Benchmark equity indices tracked the gains in US and Asian markets to close higher on the first session of Christmas week. Before today, both the indices had lost nearly 5% last week.

Nifty ended 0.7% or 165.95 points up at 23753.45, and Sensex closed 0.64% or 498.58 points higher at 78540.17. Intraday, both the indices had gained more than 1%.

Globally, sentiment was bolstered as November US PCE data cooled more than expected and eased fears of future rate hikes in the country.

"With a bullish cypher pattern in the picture, the Indian equities started the session on a firm note, and it was coupled with a follow-through momentum, but in mid-session, a reversal was seen, and the index wiped off some of its gains," said Aditya Gaggar, director of Progressive Shares.

"A strong and sustainable move above the zone of 23,850-24,000 will confirm a trend reversal, whereas on the downside, the level of 23,600 will continue to act as a support," he said.

Shares of HDFC Bank Ltd., Reliance Industries Ltd., ITC Ltd., ICICI Bank Ltd., and State Bank of India contributed the most to the gains of Nifty.

While those of Tata Consultancy Services Ltd., Maruti Suzuki Ltd., HCL Technologies Ltd., Hero MotoCorp Ltd., and Tata Motors Ltd. weighed.

Nine out of 11 sectoral indices tracked by the National Stock Exchange ended higher, led by the gains in the NSE Nifty Realty Index. On the flipside, the NSE Nifty Media Index was the top sectoral loser, down 0.4%.

The market breadth was skewed in favour of sellers. Around 2,442 stocks declined, 1,639 stocks advanced, and 137 stocks remained unchanged on BSE.

Broader markets end mixed on BSE. The BSE Midcap ended 0.10% up, and Smallcap indices ended 0.60% down.

On BSE, 16 sectors advanced, and five declined out of 21. The BSE Realty advanced the most, and the BSE Industrial declined the most.