Indian Stock Market Closes: Sensex Record Break Over 72,000


December 27, 2023

New Delhi, India

Stock Market Highlights

In a momentous development, the Sensex has breached the 72,000 mark for the first time, accompanied by a surge in the Nifty, which has touched a new record high of 21,600. This achievement reflects a robust and positive sentiment in the Indian stock market.

Both Sensex and Nifty closed at 72,038.43 up +701.63 

Broad-Based Market Rally

The market is experiencing a broad-based rally, with positive performance observed across various sectors. Auto, pharma, bank, and metal indices are leading the charge, registering gains of 0.5-1 percent. On the flip side, sectors such as oil & gas and power are witnessing selling pressure.

Global Factors and Upbeat Mood

The upbeat mood in the global market and expectations of the Federal Reserve implementing rate changes early next year have bolstered investor confidence. This optimism is evident in the buying spree witnessed across all sectoral indices.

Stock-Specific Highlights

Several stocks are making headlines with significant movements. Happy Forgings debuted with an 18% premium, listing at Rs 1001.2 on BSE, while RBZ Jewellers remained unchanged at Rs 100. Credo Brands listed at Rs 282.3 on NSE, a premium of 0.8%. Adani Green Energy saw a 4% rise after promoters announced a substantial capital infusion of Rs 9,350 crore through preferential issuance of warrants.

Also Read: Happy Forgings IPO: Anticipated 30% Premium Signals Positive Listing

Global and Year-End Overview

Gold prices have stabilized amid muted trading in the last week of the year, while oil prices remain steady. In the US, major indices like the S&P 500, Dow Jones, and Nasdaq have shown positive trends, with the S&P 500 up over 24% for the year.

Outlook and Closing Remarks

As we approach the year’s end, the Sensex and Nifty’s exceptional performance signals a robust market, with potential opportunities for investors. However, it’s crucial to remain vigilant and informed about market dynamics and potential risks.

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