Indian Stock Market Closes Positive, Sensex Reaches 78,699
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Mumbai, Dec 27 (NationPress) The domestic benchmark indices concluded the week with positive gains on Friday, driven by purchasing in the pharma, auto, IT, financial services, FMCG, media, and private banking sectors on Nifty.
The Sensex finished at 78,699.07, marking an increase of 226.59 points or 0.29 percent, while the Nifty closed at 23,813.40, up by 63.20 points or 0.27 percent.
The Nifty Bank index concluded at 51,311.30, rising 140.60 points or 0.27 percent. The Nifty Midcap 100 index ended at 56,979.80, down by 145.90 points or 0.26 percent, whereas the Nifty Smallcap 100 index closed at 18,755.85, gaining 27.20 points or 0.15 percent.
On the Bombay Stock Exchange (BSE), 1,946 shares finished in positive territory, while 2,026 shares were in negative territory, and 115 shares remained unchanged.
Experts noted, "The Christmas week trading concluded on a cautious note; the absence of significant triggers and apprehension ahead of the swearing-in of the US Republican Party administration continued to influence market sentiment."
They further remarked, "The rupee has fallen to a new low, impacted by the anticipation of fewer Fed rate cuts, a widening trade deficit, and sluggish economic growth."
Sector-wise, there was selling pressure observed in the PSU Bank, Metal, Realty, Energy, Infrastructure, and Commodities sectors on Nifty.
Within the Sensex constituents, M&M, IndusInd Bank, Tata Motors, Bajaj Finance, Bajaj Finserv, Sun Pharma, Nestle India, ICICI Bank, and Asian Paints were the major gainers. Conversely, SBI, Tata Steel, Zomato, UltraTech Cement, HCL Tech, L&T, Titan, TCS, and Power Grid were the primary losers.
The Indian rupee closed at a new low of 85.54 per dollar, compared to the prior close of 85.26.
On December 26, Foreign Institutional Investors (FIIs) sold equities worth Rs 2,376.67 crore, while Domestic Institutional Investors purchased equities valued at Rs 3,336.16 crore on the same day.
