KEY HIGHLIGHTS
• Economic Data Releases And Events For Dec 6
Stock Market Live Update: Nifty, Sensex Extends Gains To Third Week As Tata Motors, Axis Bank Lead
• Market At Close
• Nifty Bank Surges As RBI Cuts CRR BY 50 Basis Points
• Indian Benchmarks Decline Sharply; RBI Keeps Rate Unchanged At 6.5%
Economic Data Releases And Events For Dec 6
◆ US: Non-Farm Employment Change - 7:00 p.m.
◆ US: Unemployment Rate - 7:00 p.m.US: Average Hourly Earning - 7:00 p.m.
◆ US: Federal Reserve Governor Michelle Bowman will speak at the Missouri Bankers Association Executive Management Conference - 7:45 p.m.
US: Preliminary University of Michigan Consumer Sentiment - 8:30 p.m.
◆ US: Preliminary University of Michigan Inflation Expectations - 8:30 p.m.
◆ US: Federal Reserve Bank of Chicago President Austan Goolsbee will speak at the Annual Economic Outlook Symposium in Chicago - 9:00 p.m.
◆ US: Federal Reserve Bank of Cleveland President Beth Hammack will speak at the economic outlook at the City Club of Cleveland Friday Forum. - 10:30 p.m.
US: Federal Reserve Bank of San Francisco President Mary Daly - 11:30 p.m.
Stock Market Live Update: Nifty, Sensex Extends Gains To Third Week As Tata Motors, Axis Bank Lead
The NSE Nifty 50 and BSE Sensex ended Friday’s session with marginal loss as HDFC Bank Ltd. and Reliance Industries Ltd. share prices dragged. The NSE Nifty 50 index posted the biggest weekly gains since early June.
The Nifty 50 ended 39.05 points or 0.16% down at 24,669.35, and the Sensex ended 56.74 points or 0.07% down at 81,709.12.
The Nifty 50 fell as much as 0.36% to 24,620.50, and the Sensex fell 0.32% to 81,506.19. The indices fell sharply after the Reserve Bank of India kept the repo rate unchanged at 6.5% and stance ‘Neutral’. The central reduced the GDP forecast for financial year 2025, while it increased the projection for inflation.
Following the Monetary Policy Committee’s announcement to cut cash reserve ratio, the NSE Nifty Bank rose 0.49% to the day’s high of 53,868.50. The central bank cut the CRR by 50 basis points to 4.00%. RBI will cut CRR in two tranches in fortnights beginning December 14 and December 28 at 25 bps each.
The CRR cut to result in liquidity increase of Rs 1.16 lakh crore.
HDFC Bank Ltd., Reliance Industries Ltd., Infosys Ltd., ICICI Bank Ltd., and Bharti Airtel Ltd. weighed on the NSE Nifty 50 index.
Tata Motors Ltd., Axis Bank Ltd., Larsen & Toubro Ltd., ITC Ltd., and Bajaj Auto Ltd. added to the Nifty 50 index.
The NSE Nifty 50 posted the best gains on a weekly basis since June 7. It has risen 2.27% in the
week ended on Dec 6. The BSE Sensex gained 2.39% in the week ended on Dec 6.
Broader indices outperformed. BSE Midcap closed 0.36% higher and BSE Smallcap ended 0.6% higher.
Five of 21 sectoral indices on the BSE fell and 16 rose. BSE Metal rose the most.
Market breadth was skewed in the favour of buyers. As many as 2,401 stocks rose, 1,586 declined, and 101 remained unchanged on the BSE.
This week on NSE, 11 sectors advanced and one declined out of 12. The NSE Nifty Realty rose the most, while the NSE Nifty FMCG sector declined the most.
Market At Close
• The NSE Nifty posted the biggest weekly gain since early June. On a weekly basis, the index has risen 2.23% in the week ended
• The Nifty 50 and BSE Sensex extended gains to third week.
• The NSE Nifty Metal rose the most. It ended 1.23% higher at 9,397.15.
• The NSE Nifty Media declined the most. It ended 0.26% down at 2,078.50.
• The NSE Nifty Midcap 150 ended 0.41% higher at 21,665.40.
• The NSE Nifty Smallcap 250 ended 0.54% higher at 18,328.95.
Nifty Bank Surges As RBI Cuts CRR By 50 Basis Points
The NSE Nifty Bank index erased all losses to trade 0.22% higher at 53,741.80 as of 10:26 a.m.
The index erased losses as the RBI cut cash reserve ratio by 50 basis points.
Indian Benchmarks Decline Sharply; RBI Keeps Rate Unchanged At 6.5% The Nifty 50 and Sensex declined sharply right after the RBI Monetary Policy Committee kept repo rate unchanged at 6.5%. The central government kept its stance neutral. The Nifty 50 declined to 0.34% to 24,625.25, and the Sensex declined 0.29% to 81,529.33. The RBI reduced the GDP forecast for financial year 2025 to 6.6% from earlier 7.2%. The central bank hiked the headline inflation forecast to 4.8% from 4.5% for the ongoing financial year.
Source Link: Stock Market Today: Nifty Records Best Weekly Gains Since June; Tata Motors, Axis Bank Top Leaders