Business Economy


Market ends high for second consecutive session tracking positive global cues

New Delhi, Dec 12 (UNI) The stock market on Friday ended higher for the second consecutive session tracking positive global cues.
At close, the Sensex rose 450 points, or 0.53%, to 85,267.66 while the Nifty 50 gained 148 points, or 0.57%, to 26,046.95. The BSE Midcap and Smallcap indices rose 1.14% and 0.65%, respectively.
The overall market capitalisation of BSE-listed firms rose to over Rs 470 lakh crore from Rs 466.6 lakh crore in the previous session.
On Nifty, shares of Tata Steel up by 3.38%, Hindalco Industries up by 3.26%, and Eternal up by 2.37% ended as the top gainers. While on the other hand, Hindustan Unilever (1.80%), Max Healthcare Institute (0.73%), and Sun Pharma (0.72%) ended as the top losers in the index.
Among the sectors, Nifty Metal jumped 2.63%, ending as the top gainer among sectoral indices while Nifty Realty, Consumer Durables, Oil and Gas rose more than a per cent each. Nifty Bank rose by 0.30% to end at 59,389.95.
Out of 4,356 stocks traded on the BSE, 2,593 advanced, while 1,593 declined. Some 170 stocks remained unchanged.
Around 95 stocks hit their 52-week highs while 96 stocks that hit their lower circuits.
Those on the highs were Vedanta, Cummins India, Federal Bank, and Samvardhana Motherson International while on lows were ACC, BASF India, NCC, Ramkrishna Forgings, and Sheela Foam.
Metal stocks closed higher led by Hindustan Zinc gaining 7.5% to Rs 561 apiece, followed by Hindustan Copper, National Aluminium Company, GMDC, Sarda Energy & Minerals, NMDC, Hindalco Industries, Tata Steel, and Adani Power, all of which rallied between 3% and 7%.
Banking stocks also delivered healthy returns. PNB Housing Finance, City union Bank, Sammaan Capital, Bandhan Bank, and Muthoot Finance rallying between 3% and 4%.
The rupee weakened to 90.56 against the US dollar, slipping past its previous all-time low of 90.4675 hit on December 11. The currency was last at 90.4650, down 0.1% on the day.
On the global scale, Japan's Nikkei share climbed notching a third straight weekly advance. The Nikkei 225 Index gained 1.4% to close at 50,836.55, rising 0.7% this week. The broader Topix climbed 2% to 3,423.83, a record closing high.
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