December 21, 2023
New Delhi, India
Indian Stock Market Highlights
In a day marked by significant market fluctuations, the Indian stock market showcased resilience, bouncing back after a sharp fall earlier in the week.
Market Overview:
The market narrative changed as the Sensex surged by 400 points, with Nifty crossing 21,250. All sectors, barring Nifty Private Bank, entered positive territory, influenced by a rise in US futures.
Both Sensex and Nifty closed at 70,941.73 up +435.41
Afternoon Optimism
In the afternoon, the positive trend continued, with the Sensex rising by 300 points, Nifty at 21,250, and all sectors recording gains. Specific sectors such as capital goods, IT, pharma, FMCG, metal, power, and oil & gas saw positive movements.
IPO Frenzy: Credo Brands (Mufti) IPO: The IPO concluded with remarkable demand, being subscribed 24 times. Retail investors, high net-worth individuals, and qualified institutional buyers showed strong interest, exceeding their allotted quotas.
Also Read: Happy Forgings IPO Witnesses Strong Debut Day
Market Snapshot: Midday Performance: By midday, the Sensex gained 289.80 points, reaching 70,796.11, and Nifty climbed by 86.70 points to 21,236.85. Market activity displayed a mixed picture, with more advancing stocks, a notable number remaining unchanged, and instances of stocks hitting 52-week highs and lows.
Conclusion: Despite initial uncertainties, the Indian stock market exhibited resilience and adaptability, reflecting the dynamic nature of financial markets.
Also Read: Adani Group Secures $6 Billion Global Investments, Boosting Market Confidence
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