Market At Close: Market Ends With Healthy Gains, Nifty Hits Record High Intraday

The Indian stock market witnessed a rally as Nifty 50 and Sensex closed on a high note. The Nifty 50 scaled an unprecedented record high after 51 sessions, closing above the 20,200 mark. Meanwhile, Sensex surged by an impressive 493 points, reaching 67,481, and Nifty soared by 135 points to an all-time high closing level of 20,268.

Despite the top five weighted stocks experiencing negative returns since September 15, 2023, Nifty showcased resilience and determination, hitting a record high. Notably, 31 out of the 50 Nifty stocks posted gains during this period, displaying a diverse market performance.

PSU and Auto sectors emerged as the top performers, gaining the most ground, while Banks and IT sectors faced the brunt of the market fluctuations, emerging as the top losers since September 15. Power stocks continued their winning streak, with REC, PFC, and NTPC reaching 52-week highs.

Two-wheeler stocks witnessed profit booking, with industry giants like Hero and Bajaj Auto among the top losers. On the other hand, Ashok Leyland and Tata Motors experienced a slip as commercial vehicle sales disappointed in November.

Dixon, buoyed by positive management commentary, saw a rise of up to 10%, showcasing the market's response to favourable business outlooks. HAL (Hindustan Aeronautics Limited) also soared more than 3% after securing a significant helicopter order from the government.

Delta Corp extended Thursday's gains, rising 3% on the back of a favourable court order. However, Tata Comm faced profit booking following the implementation of the MSCI rejig.

The market recorded the biggest weekly gains in the last five months. Both Sensex and Nifty surged by 2% each, while the Midcap Index outperformed with gains exceeding 3%. Nifty Bank also saw a robust increase of over 2%.

All sectoral indices recorded gains this week, with the PSU index leading the pack. A staggering 48 out of 50 Nifty stocks witnessed positive growth, with Axis, Britannia, and BPCL emerging as the top gainers. Midcap stocks also displayed notable strength, with PFC, India Cements, Dixon, and BHEL securing top positions among the gainers.

The market breadth favoured advances, with the NSE Advance-Decline ratio standing at an impressive 4:3. This positive trend reflects a widespread optimism among investors, contributing to the overall upbeat atmosphere in the market.