On Friday, the last trading day of the week, Indian markets closed in the green. The 30-share BSE Sensex closed 447.55 points or 0.53 per cent higher at 84,929.36. The 50-share NSE Nifty closed at 25,966.40, up 150.85 points or 0.58 per cent.
All sectoral indices on NSE were trading in the green. Healthcare and pharma indices saw gains of more than 1 percent. Apart from these, good growth was also seen in Realty, Auto, IT, PSU Bank, Private Bank, Media and Oil & Gas sectors. On Nifty 50, TMPV, BEL, Max Healthcare, Reliance, Jio Fin, Bajaj Finserv, Infosys and Eternal were the top gainers. Only Shriram Finance, HCL Tech and HDFC Life were trading in the red.
Market sentiment is being supported by buying by foreign investors, while inflation data from America has given a big relief to the global markets. News related to commodities, IPO listing and selected shares will also decide the direction of trading today.
Strong support from FII and domestic funds
Foreign institutional investors bought shares worth about ₹600 crore in the cash market for the second consecutive day. Despite this, total net purchases by FIIs including index and derivatives stood at ₹2721 crore. Domestic funds also continued their record buying for the 79th day and invested around ₹2700 crore in the market. This clearly shows that large investors are showing confidence in the market at current levels.
Rapid recovery in American markets
Despite a lot of volatility, US markets remained strong after weaker-than-expected inflation data. After four days of decline, the Dow Jones closed with a gain of about 65 points, while the Nasdaq saw a sharp jump of 300 points. US CPI inflation stood at 2.7% in November, which was much lower than expected. Core inflation has also fallen to its lowest level since March 2021, reducing concerns about interest rates. Positive signals from Asia and GIFT Nifty
GIFT Nifty is trading around 25,950 with a gain of about 70 points. Although Dow futures are showing some weakness, Japan’s Nikkei is showing a strength of about 400 points ahead of the Bank of Japan’s policy announcement. This has increased expectations of a positive start in Asian markets.
Mixed trend in commodities
Gold touched a new all-time high of ₹1,35,590 in the domestic market. Meanwhile, silver witnessed sharp profit-booking and fell by almost ₹3900 to close around ₹2,03,600. Crude oil remains soft near $60 per barrel, which may provide continued relief on the inflation front.
ICICI Prudential AMC listing today
ICICI Prudential AMC’s IPO, which received applications worth about ₹3 lakh crore, will be listed on the stock exchange today. It was the fourth most subscribed IPO in the country. The issue price is ₹2165 per share, and the market will keep an eye on listing gains.
Focus on stock-specific news
It has been confirmed that the investigation into derivative accounts linked to IndusInd Bank has been handed over to SFIO, as disclosed by the bank itself. Ola Electric promoter Bhavish Aggarwal sold stake for the third consecutive day. He sold about 2.2% stake in three days to repay a loan of ₹260 crore. The company has made it clear that the promoters will not sell any more shares.