FINAL TRADE: Indices settle flat after scaling new highs; Sensex ends at 72,272; Nifty settles at 21,742
Stock market today: The S&P BSE Sensex settled at 72,271.94, up by 0.04 per cent, or 31.68 points, and the NSE Nifty was up 0.05 per cent, or 10.5 points, at 21,741.90.
Stock market today: The Indian share market hit fresh peaks at the fag-end of the session on Monday, January 1, the first trading day of 2024, amid buying in FMCG, IT, metal, pharma, realty, and oil & gas counters. The S&P BSE Sensex settled at 72,271.94, up by 0.04 per cent, or 31.68 points, and the NSE Nifty was up 0.05 per cent, or 10.5 points, at 21,741.90.
Among the Nifty 50 stocks, 22 stocks advanced with Nestle India, Adani Ports, Adani Enterprises, Coal India, and Tech Mahindra being the top gainers rising between 2.95 per cent to 1.58 per cent. Conversely, Eicher Motors, Bharti Airtel, M&M, Bajaj Auto, and Hindalco were the top losers slipping between 1.2 per cent to 2.62 per cent.
"Market exhibited strength led by optimism on rate cuts, easing global inflation, and softer bond yields. But profit booking was visible at higher levels as lingering concerns over Red Sea disruptions pose short-term risks to global supply chains and freight costs. The spotlight of this week is also on FOMC minutes which will provide an insight for the 2024 rate cut. Momentum in mid & small caps remains strong, buoyed by a positive macro-outlook however private banks experienced a reversal trend," said Vinod Nair, Head of Research at Geojit Financial Services.
Meanwhile, the Nifty Mid Cap 100 and Small Cap 100 settled half a per cent higher. Nifty Bank was down 0.12 per cent at 48,234.3.
BUZZING STOCKS
Jubilant Pharmova shares were up over 6 per cent on BSE after Zee Business Managing Editor Anil Singhvi recommended it as Pick of the Year 2024.
BHEL shares were up over 2 per cent after reports surfaced that the company had emerged as the best bidder for NLC India's thermal power project in Orissa.
Kaveri Seed Company shares were up over 5 per cent as the company, in its board meeting slated for January 5, will consider the share buyback.
Dhampur Sugar shares were up over 5 per cent as the company's board will consider share buyback in its January 3 meeting.
Most major global markets were closed on the first day of the new year.
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