Indian Stock Market Starts Positively, Nifty Surpasses 24,500
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Mumbai, Dec 4 (NationPress) The Indian stock market began on a positive trajectory on Wednesday, as significant buying activity was noted in the public sector enterprise (PSE) and IT sectors during the initial trading hours.
As of approximately 9:36 am, the Sensex was recorded at 80,094.12, reflecting an increase of 248.37 points or 0.31 percent. Meanwhile, the Nifty was at 24,534.05, up by 76.90 points or 0.31 percent.
The overall market sentiment remained optimistic. On the National Stock Exchange (NSE), 1,851 stocks were trading positively, while 409 stocks were in decline.
Market analysts indicated that despite various challenges, the market has shown resilience, suggesting that investors should consider maintaining their positions.
“Current market signals appear somewhat ambiguous. The market has overlooked the noticeable slowdown in Q2 GDP growth and has remained strong despite substantial selling by foreign institutional investors (FIIs). There are several potential challenges stemming from the Trump presidency. Valuations seem high with the Nifty trading at about 20 times projected FY26 earnings,” they pointed out.
In light of this, investors are advised to adopt a cautious approach to investing, emphasizing asset allocation as a fundamental strategy.
“Given the market's resilience in the face of challenges, keeping investments intact is a prudent decision,” they concluded.
The Nifty Bank index rose by 127.60 points or 0.24 percent to reach 52,823.35. The Nifty Midcap 100 index traded at 57,797.45, gaining 288.45 points or 0.50 percent, while the Nifty Smallcap 100 index stood at 19,162, up by 158.45 points or 0.83 percent.
Within the Sensex constituents, the top performers included NTPC, Tech Mahindra, L&T, ITC, TCS, Infosys, IndusInd Bank, M&M, and HCL Tech. Conversely, Bharti Airtel, Reliance, ICICI Bank, Ultra Tech Cement, and Hindustan Unilever were among the biggest decliners.
In the Asian markets, Seoul, Bangkok, and China were experiencing declines, while Japan, Hong Kong, and Jakarta were witnessing gains. In the US markets, the S&P 500 and Nasdaq Composite closed up by 0.05 percent and 0.40 percent, respectively, while the Dow Jones Industrial Average fell by 0.17 percent compared to the previous trading day.
On December 3, foreign institutional investors (FIIs) acquired equities worth Rs 3,664 crore in the Indian market, whereas domestic institutional investors sold equities valued at Rs 250 crore on the same day.
