Sensex: Soars 300.28 points (0.73%) to trade at 41,143.14.
Nifty: Gains 86.40 points (0.40%) to hold above 21,500 at 21,514.45.
Broad Sentiment: Positive; all sectoral indices gain except Nifty FMCG (-0.12%).
Highlights:
Rally Led by: Reliance Industries (RIL), Infosys, HDFC Bank, ICICI Bank, and HDFC.
Midcap and Smallcap Indices: Outperform frontline indices, rising over 1% each.
Positive Global Cues: Major Asian and European markets rise on hopes of easing inflation and improving economic conditions.
FII Buying: Foreign institutional investors (FIIs) net buy Rs 5,223 crore in equities on Tuesday.
Sectoral Performance:
Nifty IT: Leads the gainers, up 1.74% on optimism surrounding the IT sector after positive earnings reports from some companies.
Nifty Bank: Rises 1.20% as banking stocks see good buying interest led by HDFC Bank and ICICI Bank.
Nifty Metal: Gains 1.15% on rising metal prices globally.
Nifty Auto: Up 0.95% following positive retail sales data for November.
Nifty FMCG: The only laggard, down 0.12% as investors book profits in some FMCG stocks.
Market View:
Analysts advise keeping a positive outlook for the market amidst improving global sentiments and expectations of positive corporate earnings in the coming quarters.
However, they caution about potential headwinds arising from geopolitical tensions and rising interest rates.
Individual Stock Performance:
Top Gainers: Reliance Industries (up 2.40%), Infosys (up 2.25%), HDFC Bank (up 1.80%), ICICI Bank (up 1.75%), HDFC (up 1.60%).
Top Losers: ITC (down 0.80%), HUL (down 0.75%), Nestle India (down 0.50%), Kotak Mahindra Bank (down 0.45%), Asian Paints (down 0.40%).
Expert Insights:
Mr. Rajesh Agarwal, Head of Research, AII Capital: “The market is likely to remain volatile in the short term due to the upcoming F&O expiry on December 29. However, the long-term outlook remains positive supported by improving economic fundamentals and earnings growth.”
Ms. Sonam Shah, Investment Advisor, Motilal Oswal: “Investors should focus on quality stocks with strong fundamentals and avoid chasing momentum during this volatile period.”
News Updates:
RBI maintains repo rate at 5.40% in the December policy review.
Government approves PLI scheme for the textile sector with an outlay of Rs 10,000 crore.
India’s manufacturing PMI expands to 55.7 in December, highest in 11 months.
US stocks rise on positive consumer confidence data
