Snapping their last four consecutive sessions’ losing streak, the Sensex and the Nifty 50 ended with modest gains on Thursday, December 4. The Sensex rose 159 points, or 0.19%, to close at 85,265.32, while the Nifty 50 ended at 26,033.75, up 48 points, or 0.18%. However, the midcap and smallcap segments remained under pressure. The BSE Midcap index fell 0.19% while the Smallcap index dropped 0.32%.
IT stocks Infosys and TCS were the top contributors to the gains in the Sensex index. On the other hand, banking majors HDFC Bank, ICICI Bank, and Kotak Mahindra Bank were the top drags on the index.
Indian stock market: 10 key highlights from the day
1. What moved the market?
The benchmarks ended with mild gains ahead of the interest rate decision of the Reserve Bank of India (RBI). Governor Sanjay Malhotra will announce the policy decision on Friday, December 5.
Buying in select heavyweights helped the market end in the green even as the rupee’s weakness and continuous foreign capital outflow limited gains.
“Domestic markets closed flat amid mixed global cues and caution ahead of the RBI policy. Early value-driven gains were restrained by a record-low rupee and persistent FII outflows. However, lowered expectations of an RBI rate cut supported a mild currency rebound, helping indices stabilise towards the close,” said Vinod Nair, Head of Research, Geojit Investments.
(This is a developing story. Please check back for fresh updates.)
Read all market-related news here
Read more stories by Nishant Kumar
Disclaimer: This story is for educational purposes only. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.
About The Author
