Indian equities extended their rebound for a second straight session on December 22, helped by a recovery in the rupee, fresh foreign inflows and supportive global cues. Benchmark indices closed near the day’s highs, adding nearly ₹4 lakh crore to investor wealth in a single session.
The Sensex rose 638 points, or 0.75 percent, to settle at 85,567.48, while the Nifty 50 gained 206 points, or 0.79 percent, to end at 26,172.40. Broader markets also stayed firm, with the BSE Midcap index up 0.86 percent and the Smallcap index climbing 1.12 percent.
The total market capitalisation of BSE-listed companies increased to about ₹475 lakh crore from ₹471 lakh crore in the previous session.
1. Why did the market rise?
The rally was driven by a rebound in the rupee, renewed foreign investor buying and positive global sentiment. The rupee, which had slipped below the 91 mark against the dollar last week, closed at 89.70 per dollar, down just 3 paise on the day.
Hopes of further interest rate cuts by the US Federal Reserve next year also lifted risk appetite globally.
2. Key contributors to the rally
Infosys, Bharti Airtel and ICICI Bank were the top contributors to gains in the Sensex.
3. Sensex stocks in the red
Only three Sensex stocks — SBI, Kotak Mahindra Bank and Larsen & Toubro — ended lower.
4. Top gainers in the Nifty 50
Out of 50 stocks, 38 closed higher. Trent (up 3.86 percent), Shriram Finance (up 3.67 percent) and Wipro (up 3.10 percent) led the gains.
5. Top losers in the Nifty 50
HDFC Life Insurance (down 0.71 percent), Tata Consumer Products (down 0.64 percent) and SBI (down 0.59 percent) were the biggest laggards.
6. Sectoral performance
All sectoral indices closed higher except Nifty Consumer Durables, which slipped 0.16 percent. Nifty IT jumped 2.06 percent, followed by Nifty Metal, which rose 1.41 percent.
Nifty Bank added 0.40 percent, while the Financial Services index rose 0.37 percent.
7. Most active stocks by volume
Vodafone Idea, Davangere Sugar Company and Groww were the most traded stocks on the NSE in terms of volume.
8. Big movers on the BSE
As many as 18 stocks surged more than 15 percent on the BSE. Quadrant Future Tek, Jupiter Wagons, Bharat Immunologicals, Ideaforge Technology, Sadbhav Engineering and Niraj Cement Structurals were among the top performers.
9. Market breadth
Out of 4,501 stocks traded on the BSE, 2,794 advanced, 1,515 declined and 192 remained unchanged, indicating strong market breadth.
10. Technical outlook for Nifty
According to analysts, 26,100 and 26,050 remain key support levels for the Nifty, while 26,200 is the immediate resistance. A sustained move above 26,200 could push the index towards the 26,320–26,350 zone. The broader trend remains positive as long as the index stays above 25,900, making a buy-on-dips strategy favourable.