Stock Market Updates: Sensex, Nifty Rise; FMCG, IT Gains


by Sandip Das on 20 December 2023,  4 min read

Sensex, Nifty End Flat; Doms IPO booked 4.7 Times - MyDhanush by Ashika Group

The Indian stock market continued trading in the green but off day’s high. At 1:38 PM, Sensex gained 165 points at 71602 level. Nifty added 63 points and was trading at 21516 mark.

The domestic stock market followed positive global cues after Dow Jones and Nasdaq hit new all-time highs. Decline in yields and a weaker dollar also boosted positive sentiments among investors and traders.

Apart from the Indian market, other Asian markets were also trading in the green with Nikkei up 1.36 percent at 33,675.94 mark followed by Kospi which gained 1.75 percent. Hang Seng added 0.45 percent and was trading at 16,586.77 level.

Also Read: Oil & Gas Stocks Rally after Govt Cuts Windfall Tax; OIL, ONGC Top Gainers

All sectoral indices barring the metal index were trading in the green. The FMCG and oil & gas indices gained over one percent. 

Top Nifty50 Gainers:

Company Name Last Traded Price (Rs) % Change
ONGC 208.85 4.27
Tata Consumer Products 1002.65 3.78
Britannia Industries 5027.80 2.37
Hero MotoCorp 3887.05 1.71
LTI Mindtree 6203.80 1.49
Source: NSE

Company Name z  Last Traded Price (Rs) % Change
ONGC 208.85 4.27

Top Nifty50 Losers:

Company Name Last Traded Price (Rs) % Change
Adani Ports 1060.35 1.27
HCL Technologies 1472.70 1.05
Nestle India 25270 0.86
Tata Steel 134.85 0.85
Mahindra & Mahindra 1686.20 0.77
Source: NSE

Oil & gas stocks were in focus after the government cut windfall tax on petroleum crude and diesel and on steady power demand. The tax, levied in the form of Special Additional Excise Duty or SAED, on domestically produced crude oil has been reduced to Rs 1,300 from Rs 5,000 per tonnes, according to an official notification.

IT stocks also edged higher, with the index adding half a percent. The sector rose even as global information technology firm Accenture forecasted a weaker-than-expected growth in February. 

Accenture has projected second-quarter revenue below estimates. It expects Q2 revenue in the range of $15.40- 16 billion against $16.20 billion, estimated by analysts polled by LSEG.

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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