Record run continues! Sensex surges 370 points, Nifty ends above 21,750
The 30-share BSE benchmark Sensex advanced 372 points or 0.52% to settle at 72,410. The broader NSE Nifty surged 124 points or 0.57% to end at 21,778.
Among the Sensex stocks, NTPC, M&M, Power Grid, and Nestle were the top gainers, rising 2-3%.
Tata Motors, ITC, Bharati Airtel and HUL also closed higher. On the other hand, L&T, Wipro, UltraTech Cement, and Asian Paints closed in the red.
Zomato shares closed 3% lower after the firm received a Rs 402-crore show-cause notice from the goods and services tax (GST) authorities over unpaid dues.
HUDCO shares closed over 12% higher after the firm signed a Memorandum of Understanding (MoU) with the state government of Gujarat for an investment of up to Rs 14,500 crore for financing the housing and urban infrastructure projects in Gujarat.
Sector-wise, Nifty Auto, FMCG, Metal, Pharma, Healthcare, PSU Bank and Oil & Gas closed over 1% each.
While only Nifty IT and Nifty Consumer Durables closed in the red.
Meanwhile, the market capitalisation of all listed companies on BSE surged by Rs 1.7 lakh crore to Rs 363.01 lakh crore. The market breadth was skewed in the favour of the bears.
About 1,811 stocks gained, 1,976 declined, and 133 remained unchanged on the BSE.
Experts View
«The benchmark index maintained its optimism and hit fresh high owing to ease in Red Sea issue and reversal of FII inflows. A decline in crude oil prices below $80 prompted widespread purchasing across oil and energy companies,» said Vinod Nair, Head of Research at Geojit Financial Services.
«The Asian market too advanced due to an expectation of more aggressive rate cuts by fed next year. While the global market was largely experiencing consolidation due to valuation concerns,» Nair said.
Rupak De,
