Stock Market Today: Nifty Records Best Weekly Gains Since June; Tata Motors, Axis Bank Top Leaders
The Nifty 50 and Sensex ended 0.18% and 0.13% down, respectively.
NSE headquarters building in BKC, Mumbai. (Source: NDTV Profit/ Vijay Sartape)
KEY HIGHLIGHTS
US Futures Trade Flat Before US Non–Farm Data Release
At 3:32 p.m., futures contract of Dow Jones was at 44,849.00, that of S&P 500 was at 6,084.75, and Nasdaq 100 was 21,469.25, all flat.
Economic Data Releases And Events For Dec 6
US: Non–Farm Employment Change — 7:00 p.m.
US: Unemployment Rate — 7:00 p.m.US: Average Hourly Earning — 7:00 p.m.
US: Federal Reserve Governor Michelle Bowman will speak at the Missouri Bankers Association Executive Management Conference — 7:45 p.m.
US: Preliminary University of Michigan Consumer Sentiment — 8:30 p.m.
US: Preliminary University of Michigan Inflation Expectations — 8:30 p.m.
US: Federal Reserve Bank of Chicago President Austan Goolsbee will speak at the Annual Economic Outlook Symposium in Chicago — 9:00 p.m.
US: Federal Reserve Bank of Cleveland President Beth Hammack will speak at the economic outlook at the City Club of Cleveland Friday Forum. — 10:30 p.m.
US: Federal Reserve Bank of San Francisco President Mary Daly — 11:30 p.m.
Stock Market Live Update: Nifty, Sensex Extends Gains To Third Week As Tata Motors, Axis Bank Lead
The NSE Nifty 50 and BSE Sensex ended Friday's session with marginal loss as HDFC Bank Ltd. and Reliance Industries Ltd. share prices dragged. The NSE Nifty 50 index posted the biggest weekly gains since early June.
The Nifty 50 ended 39.05 points or 0.16% down at 24,669.35, and the Sensex ended 56.74 points or 0.07% down at 81,709.12.
The Nifty 50 fell as much as 0.36% to 24,620.50, and the Sensex fell 0.32% to 81,506.19. The indices fell sharply after the Reserve Bank of India kept the repo rate unchanged at 6.5% and stance 'Neutral'. The central reduced the GDP forecast for financial year 2025, while it increased the projection for inflation.
Following the Monetary Policy Committee's announcement to cut cash reserve ratio, the NSE Nifty Bank rose 0.49% to the day's high of 53,868.50. The central bank cut the CRR by 50 basis points to 4.00%. RBI will cut CRR in two tranches in fortnights beginning December 14 and December 28 at 25 bps each.
The CRR cut to result in liquidity increase of Rs 1.16 lakh crore.
HDFC Bank Ltd., Reliance Industries Ltd., Infosys Ltd., ICICI Bank Ltd., and Bharti Airtel Ltd. weighed on the NSE Nifty 50 index.
Tata Motors Ltd., Axis Bank Ltd., Larsen & Toubro Ltd., ITC Ltd., and Bajaj Auto Ltd. added to the Nifty 50 index.
The NSE Nifty 50 posted the best gains on a weekly basis since June 7. It has risen 2.27% in the week ended on Dec 6. The BSE Sensex gained 2.39% in the week ended on Dec 6.
Broader indices outperformed. BSE Midcap closed 0.36% higher and BSE Smallcap ended 0.6% higher.
Five of 21 sectoral indices on the BSE fell and 16 rose. BSE Metal rose the most.
Market breadth was skewed in the favour of buyers. As many as 2,401 stocks rose, 1,586 declined, and 101 remained unchanged on the BSE.
This week on NSE, 11 sectors advanced and one declined out of 12. The NSE Nifty Realty rose the most, while the NSE Nifty FMCG sector declined the most.
Rupee Ends Stronger After RBI Hikes Ceiling On Interest Rate On FCNR Deposits
Rupee strengthened 3 paise to close at 84.70 against the dollar. It closed at 84.73 on Thursday, according to data Bloomberg.
Market At Close
The NSE Nifty posted the biggest weekly gain since early June. On a weekly basis, the index has risen 2.23% in the week ended
The Nifty 50 and BSE Sensex extended gains to third week.
The NSE Nifty Metal rose the most. It ended 1.23% higher at 9,397.15.
The NSE Nifty Media declined the most. It ended 0.26% down at 2,078.50.
The NSE Nifty Midcap 150 ended 0.41% higher at 21,665.40.
The NSE Nifty Smallcap 250 ended 0.54% higher at 18,328.95.
