Sensex, Nifty End At Record High; Gain For Fourth Straight Day
Indian equity markets closed at yet another record high after sentiment remained firmly risk-on on the first day of the final week of the year.
The S&P BSE Sensex ended 0.8% higher at 47,353 while the NSE Nifty 50 index gained 0.9% to end at 13,873. Both benchmarks ended higher for the fourth straight day and also near their respective day's high.
Among the sectoral indices, it was Metals and PSU Banks that outperformed during the trading day. Both the indices ended with gains of 2.7% each. The Nifty Realty index, after outperforming for most of the session, cooled off from the day's high but ended 2.6% higher. The Nifty Bank index too gained over 450 points or 1.6% in today's session and contributed to the gains on the Nifty. The Auto and Media indices too ended with gains of 1% each.
The Nifty Pharma index was the only sectoral laggard, ending 0.3% lower.
Broader markets outperformed in today's session. The Midcap index ended with gains of 1.2% while the Smallcap index surged 1.7%.
India Volatility Index ended 2.8% higher, above the mark of 20 at 20.52.
1,357 stocks on the NSE ended with gains while 549 posted losses.
How Did The Sectoral Indices Fare
Nifty Pharma Only Sectoral Laggard
Buzzing Stock: Dhanuka Agritech
- Gains as much as 11.6% to Rs 822.7
- Biggest single-day gain since May this year
- Trading at the highest level since three months
- Today's volumes are 11 times its 20-day average
- Relative Strength Index (RSI) of the stock at 67
- Brokerage firm Emkay and Antique Stock Broking raised their price targets to Rs 890 and Rs 990 respectively
- 12 out of the 16 analysts tracking the stock have a buy recommendation; two sell calls
- Return potential of the stock as per Bloomberg data is 16.6%
Markets At 2:10 P.M.
- Benchmark indices set to end higher for the fourth straight day
- Nifty up 0.8% at 13,864
- Sensex up 0.8% at 47,332
- Nifty Bank up 1.5% at 30,861
- Nifty Midcap index up 1.1%
- Nifty Smallcap index up 1.8%
- India Volatility Index up 2.2% to 20.4
- Nifty Realty index remains the top sectoral gainer; up 3%
- Nifty PSU Bank index and Nifty Metal index gain over 2% each
- Nifty Media and Nifty I.T. index up 0.8% each
- Tata Motors remains the top Nifty gainer; up 4.9%
- 43 out of the 50 index constituents advance
- Shree Cement is the top Nifty laggard; down 0.8%
- 1,377 stocks on the NSE trade with gains while 508 are declining