Sensex, Nifty Surges to New Highs; IT, Realty Outshine


by mydhanush on 14 December 2023,  5 min read

Sensex, Nifty Surges to New Highs; IT, Realty Outshine - MyDhanush Blogs by Ashika

Bulls continued to dominate Dalal Street following the US Federal Reserve’s dovish forecast for 2024, which tabled multiple rate cuts starting in the new year cheered investors. At close, the Sensex was up 929.60 points or 1.34 percent at 70,514.20, and the Nifty was up 256.40 points or 1.23 percent at 21,182.70. 

The market breadth was in favour of gainers as around1,851 shares advanced, 1,363 shares declined, and 86 shares unchanged.

The market capitalisation of BSE listed companies rose to record high of Rs 355 lakh crore, while market cap of all listed companies ended at record high as well. Around 19 Nifty stocks hit 52-week high and multi-year highs on December 14, according to sources.

Nifty IT index emerged as the top sectoral performer, ending 3 percent higher on December 14. The top gainers included Mphasis which surged over 7 percent followed by Coforge, Persistent Systems, Infosys and Tech Mahindra among others.

Sensex, Nifty hit fresh highs after US Fed’s Dovish Pivot

The realty index also added over 3 percent led by Swan Energy and Godrej Properties which jumped 6-8 percent each followed by Brigade Enterprises, Lodha, Oberoi Realty and DLF.

Top Nifty50 Gainers:
Company Name Last Traded Price (Rs) %Change
Infosys 1506 3.93
Tech Mahindra 1206.70 3.67
LTI Mindtree 5930 3.54
Wipro 434 3.42
HCL Tech 1413.50 3.24
Source: NSE
Top Nifty50 Losers:
Company Name Last Traded Price (Rs) %Change
Power Grid 232.45 1.90
HDFC Life Insurance 686 1.75
Nestle India 24799.90 0.98
Cipla 1205 0.95
JSW Steel 846 0.63
Source: NSE
Asian Markets End Mixed:

Asia-Pacific equity markets ended mostly mixed Thursday, with investors digesting the US Federal Reserve’s move to end its interest-rate-hiking cycle and signal cuts for the next year.

In Australia, the S&P/ASX 200 was up 1.65 percent, hitting levels not seen since August 1 and closing at 7,377.9. Japan’s Nikkei 225 closed 0.73 percent lower at 32,686.25, while the Topix slipped 1.43 percent to close at 2,321.35. 

South Korea’s Kospi was an outlier on the day, popping 1.34 percent to close at 2,544.18. Hong Kong’s Hang Seng index rose 0.85 percent in the final hour of trading.

European Markets Rally:

European markets bounced on Thursday as investors reacted positively to the US Federal Reserve’s signal that interest rate cuts will take place next year. The pan-European Stoxx 600 index was up 1.4 percent. 

FTSE jumped 1.98 percent at 7,700.70 while CAC added 1.29 percent at 7,626.70 mark. German DAX was up 0.71 percent at 16,884.85 level.

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.

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