Indian equities ended sharply higher on Friday, December 19, breaking a four-session losing run. A steady rupee, positive global cues and a reassuring policy signal from the Bank of Japan lifted investor sentiment, with broader markets outperforming the benchmarks.
The Sensex jumped 448 points, or 0.53 percent, to close at 84,929.36. The Nifty 50 rose 151 points, or 0.58 percent, to 25,966.40. Mid-cap and small-cap stocks saw stronger buying, with the BSE Midcap index up 1.26 percent and the Smallcap index rising 1.25 percent.
The total market capitalisation of BSE-listed companies increased to over ₹471 lakh crore from ₹465.8 lakh crore in the previous session, adding more than ₹5 lakh crore to investor wealth in a single day. Reliance Industries and HDFC Bank were the biggest contributors to the Sensex gains.
1. Why did the market rise?
Markets tracked global gains after US inflation data came in lower than expected, raising hopes of further rate cuts by the US Federal Reserve. Sentiment was also supported by the Bank of Japan’s policy decision, which was largely in line with expectations.
2. Sensex and Nifty performance
The Sensex closed at 84,929.36, while the Nifty 50 settled just below the 26,000 mark at 25,966.40.
3. Broader markets outperform
Mid-cap and small-cap stocks outperformed large caps, reflecting renewed risk appetite among investors.
4. Top Nifty 50 gainers
Shriram Finance gained 4.10 percent, followed by Max Healthcare Institute (up 2.62 percent) and Bharat Electronics (up 2.49 percent).
5. Top Nifty 50 losers
HCL Technologies fell 1.18 percent. Hindalco Industries and Kotak Mahindra Bank also ended marginally lower.
6. Sectoral performance
All sectoral indices closed in the green. Realty, auto and healthcare indices rose more than 1 percent. Oil and gas and pharma indices gained close to 1 percent.
7. Banking and financial stocks
The Nifty Bank index rose 0.27 percent to 59,069.20, while the Financial Services index gained 0.41 percent.
8. Most active stocks by volume
Vodafone Idea, Ola Electric Mobility and Groww were the most traded stocks on the NSE in terms of volumes.
9. Market breadth
Out of 4,331 stocks traded on the BSE, 2,731 advanced, 1,445 declined and 155 remained unchanged, indicating strong market breadth.
10. Technical view on Nifty
According to analysts, the Nifty has broken out of a falling wedge pattern and reclaimed its 21-day EMA (Exponential Moving Average). A sustained move above 26,000 could open the way to 26,300, while 25,900 is seen as immediate support.
(By arrangement with livemint.com)
