Nifty reaches at a record high of 21,000, as RBI keeps Repo rate unchanged at 6.5 per cent!
On Friday’s trading session Benchmark indices concluded the day on a positive note with Sensex closing higher by 0.44 per cent after reaching a new all-time high of 69,893.80. Similarly, Nifty closed higher by 0.33 per cent after making a record high of 21,006.10.
Market Update at 3:50 PM: On Friday’s trading session Benchmark indices concluded the day on a positive note with Sensex closing higher by 0.44 per cent after reaching a new all-time high of 69,893.80. Similarly, Nifty closed higher by 0.33 per cent after making a record high of 21,006.10. Contrarily, Broader indices closed on a lower note with Nifty Midcap closing lower by 0.21 per cent and Nifty Smallcap plunging by 1.09 per cent.
Despite concerns over food prices and oil costs, the RBI maintains a 5.4 per cent inflation projection for the fiscal year, falling short of the elusive 4 per cent target. FY24 anticipates robust 7 per cent GDP growth, with 6.5 per cent and 6 per cent projected for the third and fourth quarters, showcasing India's economic resilience.
In a unanimous decision, the RBI keeps the repo rate steady at 6.5 per cent, reflecting a cautious approach to accommodation withdrawal while nurturing economic momentum. The path to achieving the 4 per cent inflation target remains uncertain.
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Market volatility, as indicated by India VIX, has declined by 1.60 per cent, reflecting a decrease in market volatility.
Nifty IT, Nifty Financial Services and Nifty Bank were among the top gainers while, Nifty FMCG, Nifty Energy and Nifty Pharma underperformed.
HCL Technologies, LTIMindtree and JSW Steel were among the top gainers while Adani Enterprises, ITC and Adani Ports were among the top losing stocks from the Nifty 50.
About 785 stocks were advancing as against to 1256 stocks that were declining, thus indicating a negative sentiment in the broader market.
Market Update at 2:40 PM: In the ongoing trading session the Sensex has surged by 0.28 per cent, while Nifty traded higher by 0.12 per cent. Nifty Midcap trades lower by 0.58 per cent, while Nifty Smallcap trades lower by 1.18 per cent.
India VIX has marginally declined by 1.72 per cent, indicating a decrease in market volatility.
Nifty IT, Nifty Realty and Nifty Financial Services are among the top gainers while, Nifty Energy, Nifty Pharma and Nifty FMCG are among the top losing sectors.
HCL Technologies, LTIMindtree and JSW Steel are among the top gainers while Adani Enterprises, Adani Ports and ONGC are among the top losing stocks from the Nifty 50.
About 727 stocks are advancing as against to 1320 stocks that are declining, thus indicating a negative sentiment in the broader market.
Market Update at 12:35 PM: In the ongoing trading session the Sensex has surged by 0.35 per cent, while Nifty traded higher by 0.25 per cent. Nifty Midcap trades lower by 0.09 per cent, while Nifty Smallcap trades lower by 0.56 per cent.
India VIX has marginally declined by 1.40 per cent, indicating a decrease in market volatility.
European markets are heading for a positive open on Friday as Investors await the important jobs report. European futures DAX, CAC and FTSE trades higher by 0.14 per cent, 0.19 per cent and 0.35 per cent.
Nifty IT, Nifty Media and Nifty Realty are among the top gainers while, Nifty Pharma, Nifty Auto and Nifty Energy are among the top losing sectors.
LTIMindtree, JSW Steel and HCL Technologies are among the top gainers while Adani Ports, Adani Enterprises and Hero Motocorp are among the top losing stocks from the Nifty 50.
About 1013 stocks are advancing as against to 1014 stocks that are declining, thus indicating a neutral sentiment in the broader market.
Market Update at 11:10 AM: In the current trading session the Sensex has surged by 0.29 per cent and reached at its all-time high level of 69,888.33, while Nifty traded higher by 0.21 per cent and made an all-time high of 21,006.10. Nifty Midcap trades lower by 023 per cent, while Nifty Smallcap trades lower by 0.58 per cent.
India VIX has marginally surged by 0.41 per cent, indicating an increase in market volatility.
Nifty Realty, Nifty Metal and Nifty Media are among the top gainers while, Nifty Pharma, Nifty Auto and Nifty PSU Bank are among the top losing sectors.
JSW Steel, HCL Tech and NTPC are among the top gainers while Adani Enterprises, BPCL and Bajaj Finance are among the top losing stocks from the Nifty 50.
About 1050 stocks are advancing as against to 976 stocks that are declining, thus indicating a positive sentiment in the broader market.
Market Update at 9:45 AM: On Friday, the Sensex opened higher by 0.31 per cent, while Nifty opened moderately higher by 0.33 per cent. Similarly, Nifty Midcap also opened higher by 0.5 per cent, while Nifty Smallcap opened higher by 0.25 per cent.
India VIX has plunged by 0.91 per cent, indicating a decrease in market volatility.
Nifty Metal, Nifty Media and Nifty Realty are among the top gaining sectors while Nifty Auto and Nifty Pharma are among the top losing sectors.
JSW Steel, Hindalco and NTPC are among the top gainers while Bajaj Finance, Bharti Airtel and Dr Reddy’s Laboratories are among the top losing stocks from the Nifty 50.
About 1418 stocks are advancing as against to 496 stocks that are declining, thus indicating a positive sentiment in the broader market.
Pre-Market Update at 8:05 AM: Thursday saw a significant surge in the Nasdaq, driven by a megacap rally fuelled by positive developments in artificial intelligence, particularly with Alphabet and Advanced Micro Devices.
Alphabet's shares experienced a notable 5.3 per cent increase, with analysts expressing enthusiasm for the launch of the latest AI model from the Google-parent company. Simultaneously, AMD witnessed a remarkable 10 per cent surge after estimating the potential market for its data centre AI chips to reach USD 45 billion this year.
The Nasdaq Composite demonstrated a robust increase of 1.37 per cent, reaching 14,339.99 points, while the Dow Jones Industrial Average also rose by 0.18 per cent, closing at 36,117.57 points.
The GIFT Nifty trends suggest a neutral opening for the benchmark indices, with an uptick of 11 points. Nifty futures are trading in the vicinity of the 21,088.00 level.
On Thursday, oil prices experienced a decline to levels not seen in six months, driven by concerns among investors regarding subdued energy demand in both the United States and China. Simultaneously, the persistently high output levels in the U.S. contributed to the downward pressure on prices.
Brent crude futures witnessed a decrease of 25 cents, settling at USD 74.05 per barrel. Meanwhile, U.S. West Texas Intermediate crude futures saw a slight dip of 4 cents, reaching USD 69.34. Both benchmarks recorded their lowest prices since late June.
On December 07, 2023, foreign institutional investors (FII) offloaded shares worth Rs 1,564.03 crore, while domestic institutional investors (DII) sold shares worth Rs 9.66 crore.
Stocks that are banned for trading in the F&O segment on December 08, 2023, are BALRAMCHIN, DELTACORP, IBULHSGFIN, INDIACEM, NATIONALUM, SAIL and ZEEL.