The stock market opened in the green on Friday, December 27, driven primarily by banking stocks. Apart from this, the buying was seen in pharma, auto, IT, financial services, FMCG, media, and private bank sectors on Nifty.
With this, Sensex ended at 78,699.07, up by 226.59 points or 0.29 per cent and Nifty settled at 23,813.40, up by 63.20 points or 0.27 per cent.
Nifty Bank ended at 51,311.30, up by 140.60 points, or 0.27 per cent.
The Nifty Midcap 100 index closed at 56,979.80 after dropping 145.90 points or 0.26 per cent. The Nifty Smallcap 100 index closed at 18,755.85, after rising 27.20 points or 0.15 per cent, as per the report.
On the Bombay Stock Exchange (BSE), 1,946 shares ended in the green, while 2,026 shares closed in the red. Additionally, 115 shares saw no change.
The market exhibited subdued trading as caution prevailed ahead of the upcoming swearing-in of the US Republican Party administration.
Experts attributed the market’s lacklustre performance to a combination of factors, including the absence of significant market triggers. They highlighted that uncertainty surrounding the US political transition continued to weigh on investor sentiment.
The Indian Rupee also saw a decline, reaching a new low due to expectations of fewer rate cuts by the Federal Reserve.
Sector-wise, significant selling pressure was observed in the PSU Bank, Metal, Realty, Energy, Infrastructure, and Commodities sectors on Nifty. These sectors contributed to the broader weakness in the market.
Among the top gainers in the Sensex pack were M&M, IndusInd Bank, Tata Motors, Bajaj Finance, Bajaj Finserv, Sun Pharma, Nestle India, ICICI Bank, and Asian Paints.
On the other hand, the biggest losers included SBI, Tata Steel, Zomato, UltraTech Cement, HCL Tech, L&T, Titan, TCS, and Power Grid.
The market’s performance during the Christmas week reflects ongoing caution and external economic factors that continue to shape investor sentiment.
Also Read:Gautam Adani Credits Patience And Thorough Involvement As Key For Infrastructure Development
The Central government has disbursed ₹1,162 crore under the Telecom PLI Scheme till 31 March,…
Under the revised rules, Indian passport holders with valid residence permits from Australia, Canada, Japan,…
India is all set to bring its essence of aroma, taste, and culture to the…
Union Home Minister Amit Shah reaffirmed the Centre’s commitment to end Naxalism by 31 March…
There is some relief for buyers as gold and silver prices dropped notably this week.…
India’s ethanol blending programme has reduced the country's dependence on crude oil imports and increased…