Stock Market Updates: Sensex, Nifty hit new highs; IT shares zoom

The Sensex and the Nifty extended their record run on December 15, surpassing milestones as the Nifty topped 21,300 and the Sensex reached the 71,000-mark for the first time. The indices were on course to end the seventh straight week in the green, a feat last achieved three years ago, driven by stellar gains.

At 13:07 Hours, the Sensex jumped 477 points, reaching 70991, while the Nifty gained 141 points and traded at the 21323 level. The European Central Bank (ECB) and the Bank of England (BoE) chose to maintain their respective interest rates unchanged in their most recent monetary policy meeting.

US initial jobless claims for the week ending December 9 fell to 2.02 lakh from 2.21 lakh in the previous week. Notably, Nifty IT surged 4 percent, led by Persistent Systems, HCL Tech, Coforge, TCS, Infosys, and Tech Mahindra among the sectors.

Stocks to Buy for Upto 14% Upside

There was evident buying in the metals sector, with top gainers being Nalco and Ratnamani Metals, each surging 5-7 percent, followed by Adani Enterprises, Hindustan Copper, and Tata Steel.

Top Nifty50 Gainers:

Top Nifty50 Losers:

Asian shares race to four-month peak as Fed pivot rally rolls on

Friday saw Asian shares reaching a four-month peak, propelled by steep declines in the dollar and US yields, extending a rally ignited by the Federal Reserve. However, hopes for a global pivot faced a setback as European central banks pushed back on rate cuts, potentially disrupting the upward trend.

MSCI’s broadest index of Asia-Pacific shares outside Japan surged 0.9%, hitting its highest level since early August before encountering resistance due to a reversal in Chinese shares. The week closed with a strong 2.8% gain. Meanwhile, Japan’s Nikkei climbed 1% amid this positive market sentiment.

_{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.}