FINAL TRADE: Indices end at new closing highs; Sensex zooms 702 pts; Nifty above 21,650

Stock market today: Domestic benchmark indices Sensex and Nifty scripted another milestone on Wednesday, December 27, as they hit record highs during the session amid heavy buying in metal, auto, and bank counters. The S&P BSE Sensex finished up 701.63 points, or 0.98 per cent, at 72,038.43, and the NSE Nifty was up 213.4 points, or 1 per cent, at 21,654.75.

"The upbeat domestic market continued to reach a new record high and easily recovered the last week's losses. This upward trend was predominantly supported by the Santa Claus rally in anticipation of early rate cuts by the US Fed and cooling global inflation. Additionally, the news of major shipping companies resuming operations through the Red Sea despite ongoing tensions further bolstered domestic sentiment," said Dr. V. K. Vijayakumar, Chief Investment Strategist, Geojit Financial Services.

Meanwhile, the Nifty Mid Cap 100 and Small Cap 100 closed in positive territory. Nifty Bank was up 1.17 per cent at 48,282.2 after recording a fresh high in the session.

Among the Nifty 50 stocks, 39 advanced, with UltraTech Cement, Hindalco, Bajaj Auto, JSW Steel, and Tata Motors being the top gainers, rising between 4.5 per cent and 2.88 per cent. Conversely, ONGC, NTPC, Adani Enterprises, Britannia, and UPL were the top losers, slipping between 0.94 per cent and 0.63 per cent. 

BUZZING STOCKS

LIC shares closed nearly 5 per cent higher on BSE after the insurance behemoth announced the setting up of a branch office of the corporation at the International Financial Services Centre, GIFT City, Gujarat.

Kansai Nerolac shares closed over 3 per cent after the paint company's board accepted the proposal for selling Lower Parel land.

Vishnu Prakash shares were up over 4 per cent after the construction engineering company inked deals worth around Rs 900 crore with the Uttarakhand government.

Happy Forgings shares closed over 2 per cent higher after listing.

RBZ Jewellers remained frozen at the 5 per cent upper circuit post-muted listing.

Credo Brands Marketing shares were up over 10 per cent after listing.

GLOBAL MARKETS 

Asian shares mostly advanced on Wednesday, tracking Wall Street gains as markets there reopened for what’s expected to be a quiet, holiday-shortened week of trading. U.S. futures were lower, and oil prices reversed their gains as tensions rose in the Middle East.

(With inputs from agencies.)

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