Stock market hits new record high


by mydhanush on 5 December 2023,  5 min read

Stock market hits new record high - Dhanush by Ashika

It was another day and another high for the markets which hit new high. Benchmark indices ended higher for the sixth consecutive session on December 5 with Nifty around 20,850.

At close, the Sensex was up 431.02 points or 0.63 percent at 69,296.14, and the Nifty jumped 168.30 points or 0.81 percent at 20,855.10.

Mixed trend was seen on the sectoral front with Power index up 6 percent, oil & gas and Bank indices up 1 percent each, while Information Technology and Realty indices down 0.5 percent each. BSE midcap and Smallcap indices ended with marginal gains.

Around 1,180 stocks advanced and 1,324 declined and 115 remained unchanged.

Here’s why Adani Group stocks have rallied today

Nifty Metal surged over 3 percent and was the top performing sector. The top gainers included Adani Enterprises which surged over 17 percent followed by Welspun Corp, Jindal Stainless, Hindustan Zinc, SAIL, Tata Steel and JSW Steel which added 0.5-5 percent each.

However, selling pressure was witnessed in IT, media and realty space which shed half a percent each.

Top Nifty50 Gainers:

Company name Last traded price (Rs) % change
Adani Enterprises 2971 17.38
Adani Ports 1010 14.95
Power Grid 223.05 4.77
NTPC 286.3 4.18
State Bank of India 608.25 2.28
Source: NSE

Top Nifty50 Losers:

Company name Last traded price (Rs) % change
LTI Mindtree 5492.05 1.53
Hindustan Unilever 2563 1.51
Divis Labs 3743.60 1.43
HCL Tech 1319.70 1.36
Bajaj Auto 6139.20 1.01
Source: NSE

Asian markets end in the red

Asia-Pacific markets fell across the board as investors assessed a slew of economic data from across the region.

Hong Kong’s Hang Seng index tumbled 2.07 percent in its final hour to its lowest since November 2022, leading losses in Asia, while the mainland Chinese CSI 300 index fell 1.9 percent and closed at 3,394.26, hitting fresh four-year lows.

Japan’s Nikkei 225 ended down 1.37 percent at 32,775.82, while the Topix fell 0.84 percent to 2,342.69. In Australia, the S&P/ASX 200 shed 0.89 percent to close at 7,061.60 as the Reserve Bank of Australia held its benchmark policy rate at 4.35 percent, in line with expectations. South Korea’s Kospi dropped 0.82 percent to close at 2,494.28.

European markets mixed

European markets were mixed Tuesday as some of the momentum that powered a stellar month subsides. The Stoxx 600 index slipped in early trade before moving to the flatline.

FTSE shed 0.3 percent at 7,490.63 while DAX added 0.22 percent at 16,440.97 and CAC advanced 0.25 percent and was trading at 7,350.65 level.

Most active stocks on NSE in terms of volumes:

Company name Last traded price (Rs) % change Volumes
Adani Ports 1010 14.95 4,65,64,228
Power Grid 223.05 4.77 4,07,08,640
State Bank of India 608.25 2.28 3,64,29,691
Tata Steel 131.70 0.53 3,51,90,185
ICICI Bank 1011 2 3,13,78,404
Source: NSE

Oil prices rise on uncertainty over OPEC+ cuts and Middle East tensions

Oil prices jumped by nearly 1 percent on Tuesday, lifted by uncertainty over voluntary output cuts by the OPEC+ group of producers, tensions in the Middle East and some encouraging economic signals in Europe.

Brent crude futures rose 63 cents, or 0.8 percent, to $78.66 a barrel by 0946 GMT. US West Texas Intermediate crude futures were up 66 cents, or 0.9 percent, at $73.19.

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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