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Updated December 28th, 2023 at 16:35 IST

Sensex, Nifty closes at record high; M&M, NTPC among top gainers

BSE Sensex closed 371.95 points higher at 72,410.38 and Nifty 50 closed 123.95 points higher at 21,778.70.

Sankunni K
Nifty, Sensex hit new highs on state elections boost
Market news today | Image:Republic World
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Indian benchmarks have once again closed at record highs as the Santa Claud rally is in full swing ahead of the New Year. Dow, S&P, and Nasdaq have posted impressive year-to-date gains of 14.5 per cent, 26 per cent, and 58 per cent, respectively, while Nifty has surged 20 per cent, reaching a new all-time high at 21801.45 on Thursday, December 28.

"The market's positive response to the Fed signaling three interest rate cuts in 2024 suggests a repricing of six cuts. Technically, Nifty and Bank Nifty stand out as bullish, with Nifty's immediate target at 22000 and Bank Nifty eyeing 48700," said Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd.

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BSE Sensex closed 371.95 points higher at 72,410.38 and Nifty 50 closed 123.95 points higher at 21,778.70.

"Overall, the ongoing Santa Claus Rally is poised to continue into early January at Dalal Street, setting an optimistic tone for the promising year ahead in 2024, with investors maintaining confidence in India's growth prospects," Tapse added.

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Coming to broader indices, Nifty Smallcap 50 witnessed strong buying momentum today and closed 1.07 per cent higher at 7,077.05. Nifty Midcap 50 ended 0.92 per cent higher at 13,066.25, and Nifty Midcap 100 rose 0.56 per cent to end at 45,815.25. There was a positive momentum across all the sectoral indices but Nifty IT and Nifty Consumer Durables, both of which fell marginally.

While Nifty Bank rose 0.47 per cent to end at 48,508.55, Nifty Auto rose 1.01 per cent to end at 18,408.60. Nifty Oil & Gas rose 2.01 per cent to close at 9,588.75, and Nifty FMCG rose 1.35 per cent to end at 56,504.50.

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BSE top gainers

  • M&M: 2.81 per cent
  • NTPC: 2.68 per cent
  • PowerGrid: 2.18 per cent
  • NestleInd: 2.09 per cent
  • Tata Motors: 1.84 per cent

BSE top losers

  • L&T: -0.72 per cent
  • Wipro: -0.37 per cent
  • UltraTechCement: -0.29 per cent
  • Asian Paints: -0.26 per cent
  • TCS: -0.26 per cent

NSE top gainers

  • Coal India: 4.21 per cent
  • NTPC: 3.07 per cent
  • M&M: 2.79 per cent
  • Hero MotoCorp: 2.60 per cent
  • BPCL: 2.51 per cent
  • PowerGrid: 2.18 per cent

NSE top losers

  • Adani Enterprises: -0.93 per cent
  • Eicher Motors: -0.59 per cent
  • L&T: -0.59 per cent
  • LTIM: -0.53 per cent
  • Adani Ports: -0.43 per cent
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Published December 28th, 2023 at 16:31 IST

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