Stock market today: Domestic blue-chip indices Nifty 50 and Sensex reached fresh milestones on Monday, December 11, with the 50-scrip barometer finishing the day within three points of the psychologically-important 21,000 mark. The Nifty 50 ended 27.7 points or 0.1 per cent stronger for the day at 20,997.1 and the Sensex settled at 69,928.53, up 102.9 points or 0.2 per cent--both record closing highs. Both gauges also scaled all-time highs in intraday trade, with the 30-scrip index surpassing the 70,000 mark for the first time ever. 

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UltraTech Cement, UPL, Adani Enterprises and Nestle India were among the top gainers in the Nifty basket, finishing the day with gains of around 1-3 per cent. On the other hand, Dr Reddy's, Axis Bank, Cipla and Eicher Motors were among the top losers, falling 1-5 per cent.

The high-beta Nifty Bank finished the day 52.3 points or 0.1 per cent higher at a record 47,314.3. 

Amid broad-based market indices, Nifty SmallCap 100 and Nifty MidCap 100 ended in the green with gains of 0.84 of per cent and 0.74 per cent, respectively.

"The market crossed 70,000 levels today, while the broader market outperformed the main indices. However, profit booking was evident at higher levels as traders anticipated clues from tomorrow's significant data releases on inflation from the US and India, as well as the IIP. While US inflation is predicted to remain stable, the market anticipates a rise in domestic inflation," said Vinod Nair, Head of Research at Geojit Financial Services. 

"The better-than-expected US job data and a moderate increase in US bond yields from the recent lows, however, also encouraged investors to book profits at higher levels. Investors will be closely watching the upcoming FOMC meeting tomorrow for clues about potential future rate cuts while expecting to keep rates the same this time," he added.

Global Market 

European shares were lacklustre at the start of an event-heavy week as investors buckled up for key US inflation print and interest rate decisions from major global central banks, while weakness in metal prices knocked down miners. The pan-European STOXX 600 was flat at the last count, after climbing to its highest level since February 2022 last Friday.

The index advanced 11.1 per cent so far this year, mainly boosted by bets of interest rate cuts on evidence of slowing inflation and a likely shallow recession in the euro zone economy.

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