Stock Market Today: Nifty, Sensex End The Choppy Session Higher As Infosys, RIL Lead
The Nifty 50 and Sensex extended gains to a second session. Get live updates on Indian stock markets here on Dec. 2.
(Photo source: Unsplash)
KEY HIGHLIGHTS
US Futures Lower
As of 3: 30 p.m., futures contract of Dow Jones traded 0.1% lower, while S&P 500 and Nasdaq 100 both lost 0.2%.
Economic Data Releases And Events For Dec 2 & Dec 3
US: Final manufacturing PMI — 8:15 p.m.
US: ISM Manufacturing PMI — 8:30 p.m.
US: ISM Manufacturing Prices — 8:30 p.m.US: Construction Spending — 8:30 p.m.
US: Federal Reserve Governor Christopher Waller will speak at American Institute for Economic Research Monetary Conference, in Washington DC. — 1:45 a.m.
US: Federal Reserve Bank of New York President John Williams will speak at the Queens Chamber of Commerce, in New York —3:00 a.m.
Nifty, Sensex Rise For Second Day As RIL, Infosys Share Prices Lead: Market Wrap
The NSE Nifty 50 and BSE Sensex extended gains to the second day as Reliance Industries Ltd. and Infosys Ltd share prices led. The benchmark indices recovered at the later part of the session.
The Nifty 50 ended 142.90 points or 0.59% higher at 24,274.00, and the Sensex ended 445.29 points or 0.56% higher at 80,248.08.
Earlier in the day, the Nifty 50 declined 0.51% to 24,008.65, and the Sensex fell 0.62% to 79,743.87.
The benchmark indices declined as the Indian currency slumped to fresh record low against the US dollar. Worries over India's GDP and US President–elect Donald Trump threatened to impose tariff on BRICS nations if they create a currency to replace the greenback.
However, as the session advanced, the Nifty 50 rose as much as 0.71% to 24,273.80, and the Sensex rose 0.67% to 80,337.82.
"D-street commenced the December month on a tepid note but the Auto and Pharma segments along with select heavyweights supported the Index to recover from the lower levels. Follow-through momentum in the 2nd half of the trading session pushed the Index higher to close the trade at 24,276.05 with gains of 144.95 points. Barring PSU Banks and FMCG, all the other sectors ended the day in green with Realty and Metal being the top performers. From the morning trade itself, Mid and Smallcaps extended their journey towards the north to outperform the Benchmark Index. With a bullish candle on the daily chart, the Index is approaching the neckline (24,350) of an Inverted Head & Shoulder formation. Tomorrow's trade will provide better clarity on the potential pattern breakout. The immediate resistance is 24,350 while the downside is protected at 24,100," said Aditya Gaggar, director, Progressive Shares.
Reliance Industries Ltd., HDFC Bank Ltd., Infosys Ltd., UltraTech Cement Ltd., and Mahindra & Mahindra Ltd. added to the Nifty 50 index.
NTPC Ltd., HDFC Life Insurance Co. Ltd., Hindustan Unilever Ltd., Kotak Mahindra Ltd., and Cipla Ltd. weighed on the Nifty 50 index.
On NSE,10 sectors ended higher, and two declined out of 12. The NSE Nifty Realty rose the most, and the NSE Nifty PSU Bank declined the most.
Broader indices outperformed. BSE Midcap ended 1% higher and BSE Smallcap closed 0.9% up.
Three of 21 sectoral indices on the BSE ended lower and 18 rose. BSE Realty rose the most.
Market breadth was skewed in the favour of buyers. As many as 2,509 advanced, 1,546 declined, and 182 remained unchanged on the BSE.
Rupee Ends At Record Closing Low Against US Dollar
Rupee weakened by 21 paise to close at a record closing low of 84.70. The local unit fell as much as 22 paise to 84.71 during the session. It closed at 84.49 on Friday, according to data on Bloomberg.
Market At Close
The NSE Nifty 50 and BSE Sensex extended gains for a second day.
The NSE Nifty Realty is the top performing sectoral index. It ended 1,051.20.
The NSE Nifty PSU Bank is the worst performing sectoral index. It ended 0.40% down at 6,800.40.
The NSE Nifty Midcap 150 ended 0.95% higher at 21,105.90.
The NSE Nifty Smallcap 250 ended 0.70% higher at 17,840.10.
