December 4, 2024
New Delhi, India
Stock Market Today
Market wrapped up Wednesday’s session with marginal gains despite volatility. The Sensex climbed 111 points to close at 80,956.33, while the Nifty settled 10 points higher at 24,467, driven by strong performance in realty and PSU Bank sectors.
Key Highlights of the Day:
- Top Gainers: HDFC Life, HDFC Bank, Apollo Hospitals, NTPC, and Bajaj Finserv.
- Top Losers: Bharti Airtel (-2%), Cipla, Bajaj Auto, Tata Motors, and Adani Ports.
- Sectoral Performance:
- Realty and PSU Banks surged by 2% each.
- IT and Media indices rose by 0.5%.
- Auto and FMCG sectors slipped by 0.5% each.
- Broader Markets:
- The BSE Midcap and Smallcap indices gained over 0.5%, extending their winning streak to nine sessions.
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Key Market Drivers:
- Global and Domestic Cues:
- Investors remained cautious, awaiting US Fed Chair Jerome Powell’s speech and the RBI’s upcoming rate decision.
- Foreign Institutional Investments (FIIs): Renewed confidence saw FIIs purchasing net assets worth approximately ₹4,000 crore in the previous session.
- Rate Cut Expectations: Markets are pricing in a 72% probability of a 25-basis-point rate cut by the RBI, with potential for further cuts next year.
The session reflected cautious optimism as markets balanced gains in heavyweight stocks like L&T, ITC, and HDFC Bank against losses in Bharti Airtel and Reliance Industries. The focus now shifts to central bank policy cues and global economic indicators.
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