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Posted on December 12, 2023
The key domestic indices traded with minor gains in early trade. The Nifty traded above 21,000 level. Media, FMCG and metal shares advanced while IT and oil& gas shares declined.
The barometer index, the S&P BSE Sensex, was up 86.10 points or 0.12% to 70,014.63. The Nifty 50 index added 32.40 points or 0.15% to 21,029.50.
The Nifty hit an all-time high in early trade at 21,035.75.
In the broader market, the S&P BSE Mid-Cap index rose 0.36% and the S&P BSE Small-Cap index gained 0.54%.
The market breadth was strong. On the BSE, 2,065 shares rose and 798 shares fell. A total of 81 shares were unchanged.
Foreign portfolio investors (FPIs) bought shares worth Rs 1,261.13 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 1,032.92 crore in the Indian equity market on 11 December, provisional data showed.
Infosys shed 0.67%. The company’s board has appointed Jayesh Sanghrajka as the Chief Financial Officer and Key Managerial Personnel with effect from 1 April 2024. Nilanjan Roy, Chief Financial Officer and Key Managerial Personnel has resigned from the services of the company.
Wipro rose 0.33%. The company has supported Marelli Electronic Systems, a leading mobility technology supplier to the automotive sector, in the development of its Cabin Digital Twin, that enables Original Equipment Manufacturers (OEMs) to introduce connected vehicle services to the market quickly.
L&T Technology Services (LTTS) added 0.43%. The company has secured a multi-year engineering services partnership with bp, a leading global energy company. The partnership will span areas such as engineering for projects, turnarounds, maintenance improvements, technical writing, engineering data management, and services for sustainability initiatives.
The yield on India’s 10-year benchmark federal paper fell 0.14% to 7.271 as compared with previous close 7.281.
In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 83.3600, compared with its close of 83.3775 during the previous trading session.
MCX Gold futures for 5 February 2024 settlement rose 0.32% to Rs 61,310.
The US Dollar index (DXY), which tracks the greenback’s value against a basket of currencies, was down 0.06% to 103.97.
The United States 10-year bond yield declined 0.50% to 4.217.
In the commodities market, Brent crude for February 2024 settlement rose 28 cents or 0.37% to $76.31 a barrel.
Asian stocks were trading higher Tuesday, with Japan stocks leading gains for a second straight session ahead of the final U.S. Federal Reserve meeting of the year.
US stocks registered modest gains on Monday but managed to close at new highs for the year, ahead of major market catalysts this week that include inflation readings and the Federal Reserve’s policy announcement.
The Fed?s two-day meeting kicks off Tuesday, and the U.S. central bank is expected to maintain the Federal Funds rate steady in the 5.25%-5.5% range. Market players will also assess the U.S. November inflation figures out late Tuesday. Later in the week, the European Central Bank (ECB) and the Bank of England (BOE), are also due to make policy announcements.
