Indian markets buoyant ahead of US Fed; 400 points gain for Sensex, 100 points for Nifty
Bank Nifty ended at record high on the closing basis. The index widened its gains as the trading progressed. It settled at 43,946.55, up nearly 237.80 points or 0.54 per cent. 11 stocks in 12-share index closed in the green
Indian benchmark indices S&P BSE Sensex and Nifty50 ended with strength on Tuesday tracking positive global cues. After a cautious opening, markets picked up momentum and widened their gains towards the end of today's session. Cues were positive for the Indian marktets with US major indices closing with gains on Monday. US Federal Reserve is meeting today for the December Federal Open Market Committee Meeting (FOMC) and will announce policy rates on Wednesday along with forward guidance. A 50 bps points hike is expected.
Sensex ended at 62,533.30, up 402.73 points or 0.65 per cent while Nifty50 settled at 18,610.40, up 113 points or 0.61 per cent. The strength was powered by bank and financial service stock. Nifty Bank today hit yet another lifetime high of 43,983.80 on the intraday basis.
India VIX, a measure of volatility in Nifty 3.26 per cent to 12.88.
In the 50-stock index, 34 advanced. The top gainers on Nifty50 were Indusind Bank, Bajaj Finance, Infosys, HCL Technologies and TCS while the top losers were UPL, Apollo Hospitals, BPCL, Nestle India and Hindalco Industries.
Bank Nifty ended at record high on the closing basis. The index widened its gains as the trading progressed. It settled at 43,946.55, up nearly 237.80 points or 0.54 per cent. 11 stocks in 12-share index closed in the green.
Out of 15 Nifty sectoral indices, 10 ended positive. The top gainers were Nifty PSU Bank (+3.81 per cent), Nifty Bank (+0.54 per cent) and Nifty Financial Services (+0.47 per cent). The major laggards were Nifty Realty (-0.80 per cent), Nifty Consumer Durables (-0.20 per cent) and Nifty FMCG (-0.15 per cent).
There was stock specific action in broader markets as well. Nifty Mid Cap 100 ended with gains of 176 points or 0.54 per cent. 53 stocks gained while 47 declined. The top gainers were Yes Bank, Indian Bank and Tata Communications while the top losers were Laurus Labs, Dr Lal Path Labs and Tube Investments. In the 100 stock Nifty Small Cap 100, 53 stocks gained, 46 declined while 1 remained unchanged. The top gainers were Maharashtra Bank, Aegis Logistics and Just Dial while top losers were Redington, Chemplasts and KEI.
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