Stock Market Today(Nifty Above 18000): The Indian stock market demonstrated remarkable resilience and surged near to record highs, driven by diverse sectors and bolstered by favorable global market conditions. India’s key stock market indices achieved an unprecedented closing milestone after experiencing four consecutive weeks of uptrend.
The banking and non-banking financial sectors spearheaded the rally. But the I.T. and realty segments encountered some downward pressure.
Indian Stock Market Indexes Today
On December 1, 2023, both the NSE Nifty 50 and the S&P BSE Sensex closed at new record highs of 18,812.50 and 63,284.19, respectively. Breaking those previous records, today the Nifty 50 and Sensex registered new record closing highs.
The S&P BSE Sensex Index recorded an impressive increase of 467 points, or 0.74%, reaching 63,384.58. The other benchmark, NSE Nifty 50 Index surged by 138 points, or 0.74%, closing at 18,826.
Another popular Indian stock market index, the Nifty Bank also surged 494.55 points or 1.14% and closed at 43,938.15.
The Indian broader market also closed the day on an impressive note. Nifty Midcap 100 and Nifty Smallcap 100 closed the day surging by 0.68 percent and 0.98 percent, respectively.
Top Stocks Of The Day
Top Gainers Of Nifty 50:
- HDFCLIFE: The stock of HDFC Life Insurance Company closed at Rs 610.2, with a gain of 5.89%.
- SBILIFE: SBILife, the stock of SBI Life Insurance Company, gained 3.24% and closed at Rs 1281.25.
- BAJAJFINSV: Bajaj Finserv Limited witnessed a gain of 2.37% as its stock closed at Rs 1509.65.
- DRREDDY: Dr. Reddy’s Laboratories Ltd, a pharmaceutical company, saw a gain of 2.01% as its stock closed at Rs 4900.
- TITAN: Titan Company Limited, a leading manufacturer of watches and jewelry, experienced a gain of 1.75%.
Top Losers Of Nifty 50:
- WIPRO: Wipro Limited, an IT services company, recorded a loss of 2.20%.
- BAJAJ-AUTO: Bajaj Auto Limited, a renowned automobile manufacturer, witnessed a loss of 1.77%.
- TCS: Tata Consultancy Services Limited, a leading IT services and consulting company, experienced a loss of 1.21%.
- BPCL: Bharat Petroleum Corporation Limited faced a loss of 0.77%.
- ONGC: Oil and Natural Gas Corporation Limited observed a loss of 0.41%.
Global Stock Market Update News
Global stocks had an outstanding week, showing their strongest performance in more than two months. This was driven by positive anticipation of Chinese stimulus efforts and the increasing enthusiasm for artificial intelligence companies.
The MSCI World Index witnessed a robust uptrend of 2.9% during the week. It was the most substantial gain since the conclusion of March. Asian markets experienced a broad-based rally on Friday, while European equities also displayed an upward trajectory.
U.S. futures stabilized as the S&P 500 celebrated its sixth consecutive day of gains on Thursday—a winning streak unseen since November 2021.
The impressive performance indicates promising prospects for investors and showcases the strength of the world equity market in the face of challenges.
