Stock market closing bell sensex gains 500 points, Nifty50 hits all-time high

Benchmark stock market indices ended Friday’s trading session on a positive note, as the S&P BSE Sensex ended nearly 500 points higher, while the NSE Nifty 50 rose to an all-time high.

The Sensex was up 492.75 points at 67,481.19 at the closing bell, while the Nifty 50 settled 134.75 points higher at 20,267.90. With this, Nifty 50 has marked its best performance in five months.

Broader market indices also ended the trading session with strong gains, reflecting the positive momentum on Dalal Street.

Nifty FMCG, Nifty Metal, Nifty Bank and Nifty Financial Services were the top performers among sectoral indices, while Nifty Auto was the only losers.

The top five gainers on the Nifty 50 were ITC, NTPC, L&T, Axis Bank and Britannia. On the other hand, the top losers were Wipro, HDFC Life, Hero MotoCorp, M&M and SBI Life.

The performance was fueled by faster-than-anticipated quarterly economic growth and an upswing in factory activity in November.

Shrey Jain, Founder and CEO SAS Online, said, “A reason to celebrate as Nifty reaches historic highs today! The Mid-Small Cap segment is also on the rise, fueled by faster-than-expected economic growth in the September quarter and increased optimism regarding the global interest rate outlook.”

“Although today’s figures could have been higher, investors exercised caution due to the upcoming election results scheduled for Sunday,” he noted.

“Data signals a potential rally for Nifty, projecting an upward move to 20,600 in the coming sessions, with a robust support level at 20,150. However, there might be a pause in case of unfavorable election results. The overall trend remains positive, painting an optimistic picture for the market,” Jain added.

Published By:

Koustav Das

Published On:

Dec 1, 2023

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