Sensex, Nifty end at record highs

The Indian stock market ended at fresh highs on December 4 with Nifty above 20,650. At close, the Sensex was up 1383.93 points or 2.05 percent at 68,865.12, and the Nifty was up 418.9 points or 2.07 percent at 20,686.80.

Except Nifty Pharma and Media, all other sectoral indices ended in the green. Among broader indices BSE Midcap and Smallcap rose 1 percent each, to test respective record highs.

The BJP’s strong showing in Rajasthan, Madhya Pradesh and Chhattisgarh, which were among the five states to vote for a new assembly in the previous month, allayed concerns of fiscal populism and political risks, adding to momentum across the market.

The global backdrop was also favourable, with the benchmark indices in the US positing strong gains on December 1. Asian markets inched higher in the trade during the day.

Market hits record high; factors which propelled markets higher

Moreover, a decline in oil prices, US 10-year bond yield and the dollar index further aided sentiment.

Investors expect the US Federal Reserve to finally put a stop on its rate hike regime when it meets on December 12 and 13. The Reserve Bank of India is also expected to hold rates when it meets December 6-8.

Foreign institutional investors (FIIs) made a comeback at the fag end of November, net buying domestic equities worth Rs 5,795.05 crore. The trend has continued in December, with FIIs buying equities worth Rs 1,589.61 crore in the first session of the month.

Top Nifty50 Gainers:          

Company name	Last traded price (Rs)	% change
Eicher Motors	4180.95	7.45
Adani Enterprises	2532.50	7.19
Adani Ports	878.85	6.17
BPCL	461.15	5.29
ICICI Bank	992.95	4.89

Top Nifty50 Losers:

Company name	Last traded price (Rs)	% change
HDFC Life Insurance	675	1.05
Britannia Industries	4940.10	0.62
Sun Pharma	1230	0.1
HCL Tech	1335.95	0.06
Titan Company	3487.55	0.06

Asian markets end mixed

Asia-Pacific markets were mixed on Monday, with investors awaiting a slew of key economic data Tuesday and inflation readings later this week.

Hong Kong’s Hang Seng index dropped 1 percent in its final hour of trade after making earlier gains, while the mainland Chinese CSI 300 index slipped 0.65 percent to hit its lowest since February 2019.

In Australia, the S&P/ASX 200 rose 0.73 percent and closed at 7,124.7. South Korea’s Kospi rose 0.4 percent to end at 2,514.95. The small-cap Kosdaq pared earlier gains to rise 0.15 percent, ending at 828.52. In Japan, the Nikkei 225 slipped 0.6 percent to 33,321.27, while the Topix fell 0.83 percent to close at 2,362.65.

European markets trade cautious

European markets were slightly lower on Monday amid an apparent pause in the recent global rally as traders bet on interest rate cuts from major central banks in 2024.

The pan-European Stoxx 600 was down 0.3 percent by mid-morning. FTSE shed 0.11 percent at 7520.82 and CAC added 0.1 percent at 7353.31 while DAX gained 0.25 percent at 16438 mark.

Most active stocks on NSE in terms of volumes:

Company name	Last traded price (Rs)	% change	Volume
Tata Steel	130.85	0.65	38582864
ICICI Bank	992.95	4.89	31306927
ONGC	201.95	3.8	27360727
Power Grid	212.9	1.28	26249868
State Bank of India	594.40	3.96	24327168

_{Disclaimer: The information provided in this blog post is for informational purposes only and should not be construed as investment or trading advice. The author is not a financial advisor and does not have any professional qualifications in this area. The author does not guarantee the accuracy or completeness of the information provided. Any action you take based on the information in this blog post is done at your own risk. Please consult with a financial advisor before making any investment decisions.}