Indian Stock Market Rebounds: Gains Led by Financial and Metal Sectors

Indian Stock Market Sees Solid Rebound

The Indian stock market rebounded strongly on Thursday, December 11, after three consecutive days of decline. The rebound was fueled by a risk-on sentiment following the US Federal Reserve's 25-basis-point cut in its key benchmark interest rate.

Market Performance

The Nifty 50 closed at 25,898, up 0.55% from the previous close, while the S&P BSE Sensex rose 0.51% to 84,818. The broader markets also saw notable gains, with the Nifty Midcap 100 and Nifty Smallcap 100 indices surging 1% and 0.82%, respectively.

Sectoral Performance

All major indices closed in the green, led by the Nifty Auto, which gained 1.22%. Other sectors that advanced include Nifty Metal, Nifty Consumer Durables, Nifty IT, Nifty Realty, and Nifty Private Bank, each rising between 0.70% and 1%.

Currency and Trade News

The Indian rupee slipped to another all-time low of 90.48 against the US dollar in intra-day trade on Thursday. Meanwhile, the US Trade Representative (USTR) Jamieson Greer said that the US has received the “best” offers ever from India on the proposed trade agreement, coinciding with the commencement of two-day talks between the two countries.

Top Gainers and Losers

Shares of Ola Electric led the Nifty 500 gainers, jumping 6.8% to ₹36.7 apiece. Other top gainers included DCM Shriram, Natco Pharma, Dixon Technologies, and Kaynes Technology. On the losing side, Reliance Infrastructure emerged as the top laggard, falling 4% to ₹129.9 apiece.

Key Takeaways

• The Indian stock market rebounded strongly after three consecutive days of decline.
• The US Federal Reserve's 25-basis-point cut in its key benchmark interest rate fueled the rebound.
• The Indian rupee slipped to another all-time low against the US dollar.
• The US Trade Representative (USTR) said that the US has received the “best” offers ever from India on the proposed trade agreement.

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