Leaders Online: The Indian stock market created history today, Wednesday (6th). Sensex crossed 74,100 in today's trading session. The Sensex then rose 408 points to close at 74,085. This is the first time that Sensex has touched 74 thousand for the first time. Nifty touched a new high of 22,497. The Nifty then rose 117 points to close at 22,474.
Interestingly, the Sensex recovered from the decline and reached a new peak. Sensex recovered 694 points from today's low. The market was initially weak today. But in the last hours the buying force increased. Banking, IT and pharma stocks in particular led the market to new highs.
This growth in the market was supported by the rise in private bank shares. At the sectoral level, the bank index gained 1 percent and the pharma index gained 0.7 percent. Whereas, oil and gas, power, realty fell by 1 percent each. The BSE midcap index fell 0.6 percent and the smallcap index fell around 2 percent.
Sensex opened at 73,587 today. He then touched the 74,151 mark. Kotak Bank, Bharti Airtel, Axis Bank, M&M, Sun Pharma, Titan, HCL Tech, TCS, LT were the top gainers on Sensex. While shares of Ultratech Cement, NTPC, Maruti, JSW Steel fell.
Nifty opened at 22,327 today. He then jumped to 22,490 points. Bajaj Auto, Kotak Bank, Bharti Airtel, Axis Bank, SBI Life gained between 2 to 3 percent on Nifty. While shares of Adani Enterprises, Ultratech Cement, NTPC, ONGC fell by 1 to 2 percent.
Nifty Private Bank Bullish
The Nifty Private Bank Index rose by 27 points to 23,938 today. Kotak Bank, Axis Bank, ICICI Bank, Federal Bank were the top gainers.
Selling in Smallcap Shares
Stock markets fell in early trade on Wednesday (Dec 6) amid mixed global cues. But Sensex and Nifty saw strong recovery in the afternoon trade. Meanwhile, selling occurred in small and midcap stocks today. The market initially witnessed a decline as investors turned to some profit booking.
Shares of Zomato fell
Shares of Zomato fell over 2 percent today amid the block deal. Shares of Zomato were trading at Rs 161 in afternoon trade. According to reports, Ant Financial Group is looking to sell 2 percent stake in online food delivery aggregator Zomato through a block deal. (Zomato Share Price)
IIFL Finance's decline does not stop!
Shares of IIFL Finance Ltd fell 20 per cent for the second day in a row. Today, the stock fell 20 percent to a 52-week low of Rs 382.80 on the BSE. The stock also fell by 20 percent in Tuesday's session. On Monday, it fell by 4 percent. RBI has asked IIFL Finance to immediately sanction gold loans or stop disbursement of loans. The RBI has taken this action after an investigation found serious deviations in checking and certifying the purity and net weight of gold as well as violation of loan to value ratio (LTV) during loan sanctioning and auctioning.
Foreign investors
Foreign portfolio investors bought shares worth Rs 574 crore on Tuesday, while domestic institutional investors bought shares worth Rs 1,835 crore.
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