Stock market update: Benchmarks indices rebounding positive start

by Psu Connect
Date: 22-12-23

The anticipated positive approach has been refurnishing the trends in the Gift Nifty once again yet a slightly low start with the broader index in India, with a loss of 26.50 points or 0.12 percent.

Stock market update: Benchmarks indices rebounding positive start

New Delhi: The benchmark Sensex and Nifty indices are most likely to start slightly at low point on December 22 with indication of negative initiation at a loss of 26.50 points. Well, on the contrary, despite being opening lower, the benchmark indices eventually recovered the losses and closed with the gains yesterday. Broader market indices, which saw sharp selling in the previous session are seen in the limelight today.

Investor wealth which is reflected by the total market cap of BSE-listed companies has risen to Rs 4.18 lakh crore taking the overall valuation to Rs354.38 lakh crore. The Sensex was closed with 358.79 points, or 0.51 percent, at 70,865.10, while the Nifty gained 104.90 points, or 0.5 percent, to close at 21,255.05.

The current sources are indicating an immediate resistance at 21,292 followed by 21,366 and 21,485 levels. Yet, Likewise yesterday, Nifty is expected to rebound the gain after the first half, to recover gradually as the day progressed. It finally got settled around the day's high at 21,255.05 levels. Among the top participants, energy, metal, and banking sectors were seen as top performers.

SOME TRENDING UPDATES IN THE MARKET:

1-Lupin signed an asset purchase agreement with Sanofi, a French multinational pharmaceutical and healthcare company.

2-Crypto token Bitcoin surpasses $44,000 on ETF trigger.

3-Larsen&Toubro gave the order to Catvision worth 7.4 million rupees.

4-Indian government bond yield were trading flat with narrow volume making 10-year benchmark bond yield at 7.1844 percent.

Gold prices hit to max high as rising bets of Federal Reserve interest rate cuts early next year pushed the dollar and the bonds yields lower ahead of much-awaited US inflation data later in the day.

Japan Nikkie opened higher with benchmark 225 index up 0.47 percent, or 156.59 points, at 33,297.06 while oil prices got high in early trade amid tensions persisted in the Middle East following Houthi attacks on ships in the Red sea.