Day trading guide for stock market today: Six stocks to buy or sell on Wednesday — December 6
Day trading guide for today: Following buying in frontline stocks on end of rate hike cycle buzz, Indian stock market ended higher for sixth straight session on Tuesday. Participatory rally extended for yet another session on Tuesday, which helped key benchmark indices and broad market indices to hit new life-time high on the previous session. Nifty 50 index climbed to a new peak of 20,864 levels, BSE Sensex touched new life-time high of 69,381 whereas Bank Nifty index hit a new high of 47,230.
Broad market indices also continued its partipation in current rally. Small-cap index hit a new record high of 41,317 while mid-cap index touched a new peak of 35,216 levels. Also Read: Indiabulls Housing Finance, ZEEL, 2 others placed under F&O ban list for today "Nifty continued its winning streak for sixth consecutive day and close with gains of 168 points (+0.8%) at 20855 levels.
Metals, Banking, Oil & Gas and Consumer Durables were among top gainers in the sector. Rally was seen in Adani Group stocks after Bloomberg reported US agency concluded accusations against conglomerate weren’t relevant. Upstream Oil companies were also in focus after OPEC+ extended its production cut to Q1CY24.
The global and domestic markets made a smart comeback as investors remained convinced that rate-hike cycle has ended. This coupled with strong institution flows and economic data added to the positivity. FIIs have remained net buyers to the tune of ₹17133crs in the last eight trading session," said Siddhartha Khemka, Head - Retail Research at Motilal Oswal.
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