FINAL TRADE: Indices settle at fresh closing highs; Sensex gains 431 pts, Nifty crosses 20,850 for 1st time

Stock market today: Domestic blue-chip indexes Nifty 50 and Sensex continued their spectacular show on Tuesday, December 5, for the sixth straight session, amid healthy buying in financial stocks, metals, and mining stocks. A slew of supportive domestic factors are behind the market's stellar rally.

The NSE Nifty 50 index ended 168.3 points, or 0.81 per cent, higher at 20,855.1, and the S&P BSE Sensex finished the day with a gain of 431.02 points, or 0.63 per cent, at 69,296.14—both record closing highs—after scaling record highs during the session. The high-beta Nifty Bank also registered a record closing high, finishing the day 580.85 points higher at 47,012.25. A high beta index is a basket of stocks that exhibits greater volatility than a broad market index.

Nifty Smallcap100 ended with a gain of 0.11 per cent while Nifty Midcap100 closed 0.47 per cent higher among other broad-based market indices.

Adani Enterprises, Adani Ports, Power Grid, and NTPC were among the top gainers in the Nifty basket, trading with gains of around 17–2 per cent. On the other hand, LTIMindtree, HUL, Divi's, and HCL Tech are among the top losers, down nearly 2 per cent.

"The aura of the state election results and other positive factors like above-expected earnings and GDP growth data are supporting the return of FII flows to the Indian market," Vinod Nair, Head of Research at Geojit Financial Services, said.

"The RBI’s monetary policy meeting is expected to be status quo; however, the commentary on economic growth, foodgrain prices, and inflation trajectory will be closely watched," he added.

Global Market

European stocks were muted on Tuesday as gains in energy shares offset a drop in miners and healthcare, while investors focused on a slew of economic data during the day for insights into the global monetary policy outlook.

The pan-European STOXX 600 index was little changed, stalling around a four-month high after snapping a three-day winning streak on Monday. All eyes are now on November US business activity data and October producer prices in the eurozone later in the day as investors remain largely determined that major central banks will start cutting interest rates quicker than previously expected as inflation falls and the economic outlook worsens.

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