Indian Stock Market Surges: Sensex and Nifty 50 Rise for Second Consecutive Session

Indian Stock Market Sees Significant Gains

The Indian stock market had a great day on Friday, December 12, with the Sensex and Nifty 50 indexes rising for the second day in a row. This increase was influenced by positive global news, particularly the US Federal Reserve's decision to cut interest rates. The Sensex went up by 450 points (0.53%) to 85,267.66, while the Nifty 50 increased by 148 points (0.57%) to 26,046.95.

Key Highlights of the Day

The overall market value of companies listed on the Bombay Stock Exchange (BSE) increased to over ₹470 lakh crore, making investors richer by more than ₹3 lakh crore in just one day. The BSE Midcap and Smallcap indexes also saw significant gains, rising by 1.14% and 0.65%, respectively.

Reasons for the Market Rise

According to Vinod Nair, Head of Research at Geojit Investments Limited, the positive global cues and the US Fed's rate cut helped improve the market's mood. He also mentioned that India's November Consumer Price Index (CPI) is expected to be within the Reserve Bank of India's (RBI) comfort zone, which should help keep policy stable. However, the rupee's record lows and continued selling by foreign investors are factors to watch.

Top Gainers and Losers

• Tata Steel, Hindalco Industries, and Eternal were the top gainers in the Nifty 50 index, with increases of 3.38%, 3.26%, and 2.37%, respectively.
• Hindustan Unilever, Max Healthcare Institute, and Sun Pharma were the top losers, with decreases of 1.80%, 0.73%, and 0.72%, respectively.

Sectoral Indices

The Nifty Metal index saw the biggest gain, rising by 2.63%. The Nifty Realty, Consumer Durables, and Oil and Gas indexes also increased by over 1% each. The Nifty Bank index rose by 0.30% to end at 59,389.95.

Most Active Stocks

• Vodafone Idea, Meesho, and GMR Airports were among the most active stocks in terms of volume on the National Stock Exchange (NSE).
• Twelve stocks, including Transformers and Rectifiers (India), Maha Rashtra Apex Corporation, and Walchandnagar Industries, saw their prices jump by more than 15% on the BSE.

Market Outlook

Rupak De, Senior Technical Analyst at LKP Securities, said that the Nifty index is likely to remain positive as long as it stays above 25,900. He expects the index to move towards 26,300 in the short term.