December 26, 2023
New Delhi, India
Stock Market Highlights:
Sensex and Nifty Performance:
In today’s trading session, the Sensex witnessed a robust performance, gaining 240 points and reaching a high of 71,471. Meanwhile, Nifty maintained its position around 21,400. Notably, all sectoral indices, except for Information Technology, showed positive trends, with metal and power stocks leading the gains.
Both Sensex and Nifty closed at 71,336.80 up +229.84
Gold Prices React to Economic Signals:
Gold prices experienced an uptick in today’s muted trade as the U.S. dollar and bond yields weakened. The increase is attributed to the growing likelihood of rate cuts by the U.S. Federal Reserve, potentially as early as March next year. Spot gold rose by 0.6%, reaching $2,064.20 per ounce.
Sectoral Highlights:
The Information Technology sector faced losses, contrasting with the positive performance of other sectors. Nifty Metal and Nifty Auto indices emerged as top gainers, rising by 1.17% and 0.9%, respectively.
Individual Stock Movements:
Several individual stocks contributed to the market dynamics. Inox Wind saw a more than 3% rise following an order win boost, while Oil Marketing Companies (OMCs) like HPCL, BPCL, and OIL traded higher after the resumption of Red Sea shipments.
Also Read: Global Economic Trends Impact Currency Markets: Dollar and Indian Rupee in Focus
Buzzing Stocks in Focus:
Shares of Network18 Media and TV18 Broadcast surged 4% each on reports of a potential merger with Walt Disney. Adani Green witnessed a 2% increase after securing a power purchase agreement for 1,799 MW of solar power. However, Infosys shares were down 2% following the termination of a Memorandum of Understanding with a global company.
Global Factors Impacting the Market:
The global context, particularly the potential U.S. Federal Reserve rate cuts, played a pivotal role in shaping today’s market dynamics….Read More
Conclusion:
In summary, today’s stock market showcased positive trends with notable gains in key indices and sectors, while specific stocks made headlines with significant movements. Investors remain attentive to global economic signals, particularly those related to potential changes in U.S. Federal Reserve policies.
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Disclaimer:
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