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Updated December 22nd, 2023 at 09:38 IST

Sensex, Nifty little changed; HCLTech, Bajaj Finance among top gainers

Ten of 15 sector gauges compiled by the National Stock Exchange were trading higher led by Nifty Metal index's 1.15% gain.

Abhishek Vasudev
Nifty, Sensex hit new highs on state elections boost
Mid- and small-cap shares were outperforming their larger peers | Image:Republic World
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The S&P BSE Sensex and NSE Nifty 50 indices were little changed on Friday as gains in HCLTech, Bajaj Finance, Tata Motors, Tata Consultancy Services, Tata Steel and Sun Pharma were offset with losses in Infosys, ICICI Bank, HDFC Bank, Axis Bank and Ultratech Cement. The Sensex moved in a band of 214 points while Nifty 50 index touched an intraday high of 21,313.05 and low of 21,260.80.

As of 9:22 am, the Sensex was 3 points at 70,867.88 and Nifty 50 index was up 10 points at 21,265.

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Meanwhile, Asian stocks were poised to eke out gains for the final full trading week of the year on Friday, while the dollar eyed a loss as investors look to 2024 as a year of steep U.S. rate cuts.

MSCI's broadest index of Asia-Pacific shares outside Japan went up 0.3% in early trade. For the week the index is very marginally higher. Banking shares helped Japan's Nikkei rise 0.2%. The euro poked above $1.10.

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Markets have been in a festive mood for weeks as inflation data around the world has showed a slowdown and the Federal Reserve signalled it was done raising interest rates.

Back home, ten of 15 sector gauges compiled by the National Stock Exchange were trading higher led by Nifty Metal index's 1.15 per cent gain. Realty, healthcare, media, auto and pharma shares were also witnessing buying interest.

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On the other hand, select banking, financial services and IT shares were facing selling pressure.

Mid- and small-cap shares were outperforming their larger peers as Nifty Midcap 100 index rose 0.35 per cent and Nifty Smallcap 100 index advanced 0.76 per cent.

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Adani Ports was top Nifty gainer, the stock rose 2.11 per cent to Rs 1,040. Divi's Labs, Hindalco, Britannia, Tata Steel, Adani Enterprises, Tata Motors, UPL, Dr Reddy's Labs and Bajaj Auto also rose between 1-1.7 per cent.

On the flipside, Infosys, IndusInd Bank, ICICI Bank, HDFC Bank, Ultratech Cement, Tata Consultancy Services, Tech Mahindra, Titan and Eicher Motors were among the losers.

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The overall market breadth was extremely positive as 2,226 shares were advancing while 557 were declining on the BSE.
 

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Published December 22nd, 2023 at 09:34 IST

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