Stock Market Ends in the Green
by mydhanush on 8 December 2023, 5 min read
The Indian stock market recorded its biggest weekly gain since July 2022. Sensex and Nifty rose more than 3 percent each while Nifty Bank gained over 5 percent.
The Midcap index gained over 2 percent and posted a weekly gain for the sixth straight week.
At close of trade on December 8, the Sensex was up 303.91 points or 0.44 percent at 69,825.60, and the Nifty added 68.20 points or 0.33 percent at 20,969.40. About 1441 shares advanced, 1796 shares declined, and 73 shares unchanged.
Nifty Chart at Close
On the sectoral front, FMCG, oil & gas and power indices down 1 percent each, healthcare and auto down 0.5 percent each. On the other hand, Bank, Information Technology and Realty rose 0.5-1 percent.
BSE midcap index ended marginally lower, while smallcap index fell 0.4 percent.
The Nifty hit a high as the Reserve Bank of India (RBI) announced its decision to keep the repo rate unchanged at 6.5 percent for the fifth time in a row. The move was in line with market expectations.
Market Rally as RBI Raises GDP Growth Forecast
It raised its GDP growth forecast for FY24 to 7 percent from 6.5 percent, which ushered further optimism among investors.
Top Nifty50 Gainers:
| Company Name | Last Traded Price | % Change |
| HCL Tech | 1365.90 | 2.85 |
| LTI Mindtree | 5710 | 2.57 |
| JSW Steel | 839.35 | 2.47 |
| Infosys | 1491 | 1.71 |
| Apollo Hospitals | 5540 | 1.44 |
Top Nifty50 Losers:
| Company Name | Last Traded Price | % Change |
| Adani Enterprises | 2829.90 | 1.98 |
| Adani Ports | 1021.10 | 1.78 |
| ITC | 450 | 1.77 |
| Hero MotoCorp | 3717.50 | 1.46 |
| Mahindra & Mahindra | 1668 | 1.46 |
Asian Markets end mixed
Asia-Pacific markets were mixed as Japan’s third-quarter GDP was revised downward in a surprise move, while RBI held its benchmark lending rate steady.
Japan’s Nikkei 225 tumbled 1.68 percent while South Korea’s Kospi jumped 1.03 percent to finish at 2,517.85. Hong Kong’s Hang Seng index erased earlier gains to trade marginally below the flatline
European Markets
European markets nudged higher on Friday, as traders around the world look ahead to a key November jobs report due out of the US. The pan-European Stoxx 600 index was up 0.5 percent.
FTSE gained 0.56 percent at 7,556.25 while CAC jumped 1.06 percent at 7,507.31 and DAX added 0.46 percent at 16,705.49 mark.
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.
Image Credit: Freepik
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