Indian Stock Market Update
The Indian stock market saw its second day of gains on Friday, December 12, with the key front-line indices settling above key levels. The Nifty 50 closed 148 points higher, or 0.57%, at 26,022, while the S&P BSE Sensex finished at 85,267, up 449 points, or 0.53%, from the previous close.
Sector-Wise Performance
The Nifty Metal index was the top sectoral performer, with all its constituents closing in the green and driving the index up by 2.63%. The Nifty Realty index also closed with a solid gain of 1.53%, while other indices such as Nifty Consumer Durables, Nifty Oil & Gas, Nifty Chemicals, and Nifty Auto rallied between 0.60% and 1.46%.
Top Gainers and Losers
Transformers & Rectifiers led the charge, with a 17.2% rise to ₹280 apiece, emerging as the top gainer among Nifty 500 stocks. Other major metal stocks, including Hindustan Zinc, Hindustan Copper, and Tata Steel, closed higher. On the other hand, Jubilant FoodWorks led the decline with a 2.4% fall to ₹583, while Hindustan Unilever and Dabur India also slipped over 2%.
Currency Woes Continue
The Indian rupee reached another all-time low of 90.55 against the US dollar, slipping past its previous record low of 90.4675. The rupee is Asia's worst performer this year, having fallen nearly 6% against the dollar year-to-date.
Key Takeaways
- The Indian stock market saw its second day of gains, driven by a strong rally in the metal sector.
- The Nifty 50 and S&P BSE Sensex indices settled above key levels.
- The Nifty Metal index was the top sectoral performer, with all its constituents closing in the green.
- The Indian rupee reached another all-time low against the US dollar.