Sensex, Nifty Share Prices Today: The topline equity indices on the BSE and National Stock Exchange (NSE) extended their gaining streak for the seventh consecutive session and ended at new closing highs on Wednesday led by gains in automobiles, fast-moving consumer goods (FMCG) and metal stocks amid positive global cues ahead of the announcement of the July-September (Q2) GDP data.
The S&P BSE Sensex surged 417.81 points (0.67 per cent) to end at a fresh closing high of 63,099.65 while the Nifty 50 rallied 140.30 points (0.75 per cent) higher to settle at a new all-time closing high of 18,758.35. During the intraday session, both the benchmarks -Sensex and Nifty – hit their respective fresh all-time highs of 63,303.01 and 18,816.05.
The 30-share Sensex has touched a new record high for the fifth consecutive session today while the broader Nifty hit a new high for the third straight session. In a matter of five trading sessions the Sensex crossed two milestones – first on November 24, it closed above 62,000 for the first time and then today closed above 63,000. It is important to note that the BSE benchmark settled above the 61,000 mark for the first time almost 13 months ago on October 14, 2021, and while it breached 62,000 mark in during the same month last year in the intra-day trade, it had failed to end above the key milestone back then.
Among the Sensex constituents, Mahindra & Mahindra (M&M), UltraTech Cement, Power Grid Corporation of India, Hindustan Unilever (HUL), Bharti Airtel, Asian Paints and Tata Steel were the top gainers on Wednesday while IndusInd Bank, State Bank of India (SBI), HCL Technologies, ITC and Sun Pharmaceutical Industries were the top laggards.
All the sectoral indices on NSE ended in the green except the Nifty PSU Bank index which slipped 1.35 per cent. The Nifty Metal index rose 1.81 per cent, Nifty Auto gained 1.72 per cent and Nifty FMCG scaled 1.02 per cent.
In the broader market, the S&P BSE MidCap index jumped 271.16 points (1.06 per cent) to close at 25,950.89 while the S&P BSE SmallCap rose 178.40 points (0.61 per cent) to end at 29,519.61.
Going ahead, investors will look forward to GDP data for the July-September quarter (Q2) of the ongoing year 2022-23 (FY23) which will be released by the National Statistical Office (NSO) later this evening.
“Domestic market continued its quest for gains, boosted by FII inflows. However, markets will be sensitive to the Fed Chair’s remarks later in the day, as investors are expecting a moderation in the pace of rate hikes. An in-line comment will help to sustain the rally while loosening COVID-19 restrictions in China is providing relief to global markets,” said Vinod Nair, Head of Research at Geojit Financial Services.
World equity markets rallied on Wednesday and focus turned to Jerome Powell, who speaks later in the day in what will be the US Federal Reserve chief’s last opportunity to steer sentiment ahead of the Fed’s December meeting.
A Santa rally appeared to come early for some markets, with Asian shares set for their strongest month since 1998 and emerging market stocks poised for their biggest monthly surge since 2009. But the dollar, hit by expectations that a peak in US interest rates is near, was set for its biggest monthly loss in more than 20 years.
European stock markets rallied and US equity futures pointed to a firm start for Wall Street.
MSCI’s broadest gauge of Asia Pacific stocks outside Japan rallied more than 1 per cent to its highest since September. It was set for its best month since 1998. Hong Kong’s Hang Seng Index rallied more than 2 per cent, although Japan’s blue-chip Nikkei fell 0.2 per cent.