Sensex Gains 100 Points, Nifty Tops 26,200 on Strong US Economic Growth Data
Indian equity markets opened positively on Wednesday with Sensex rising 100 points to 85,663.35 and Nifty gaining 46 points to trade above 26,200. The gains were driven by stronger-than-expected US economic growth data that boosted global risk appetite. Individual stocks like Ajanta Pharma and Vikran Engineering showed significant gains on corporate developments, while FIIs remained net sellers worth ₹1,795 crore against DII buying of ₹3,812 crore.
*this image is generated using AI for illustrative purposes only.
Indian equity markets opened higher on Wednesday, with the Sensex and Nifty building on positive momentum driven by stronger-than-expected US economic growth data. The optimism was supported by favorable global cues, though tempered by continued foreign fund outflows and thin year-end trading volumes.
Market Performance
Indian benchmarks showed steady gains in early trading, with both indices advancing on broad-based buying interest.
| Index | Level | Change | Percentage |
|---|---|---|---|
| Sensex | 85,663.35 | +100 points | +0.07% |
| Nifty 50 | Above 26,200 | +46 points | +0.18% |
| GIFT Nifty | 26,236.50 | +33.50 points | +0.13% |
Broader markets remained marginally firmer, with both mid-cap and small-cap indices rising 0.10% each. On the Sensex, NTPC, Trent, Bajaj Finance, Adani Ports and Axis Bank emerged as top gainers, advancing between 0.60% and 1.00% in early trade.
Individual Stock Movements
Several stocks witnessed significant movements based on corporate developments and sector-specific factors.
| Stock | Performance | Reason |
|---|---|---|
| Ajanta Pharma | +4.00% | Semaglutide deal with Biocon |
| Vikran Engineering | +13.00% | EPC order worth ₹2,035 crore |
| Sammaan Capital | F&O Ban | Crossed 95% position limit |
Global Market Strength
Asian markets rose on Wednesday, tracking Wall Street's strong performance and positioning for a robust year-end close driven by artificial intelligence optimism. The S&P 500 ended at a record as a long-awaited Santa Claus rally took hold, with US data showing much stronger-than-expected third-quarter growth lifting risk appetite.
| Region/Index | Performance | Annual Gain |
|---|---|---|
| MSCI Asia-Pacific (ex-Japan) | +0.30% | +26.00% |
| Japan Nikkei | +0.40% | +26.00% |
| South Korea | Leading region | +72.00% |
Commodity and Currency Updates
Precious metals remained standout performers in early Asian trading. Spot gold climbed 0.80% to a record $4,524.00 per ounce, taking its annual gain to 72.00%. Silver rose 1.20% to an all-time high of $72.27 per ounce, on track for an almost 150.00% annual jump.
The Indian rupee opened at 89.56 against the US dollar, up 0.10% from its previous close, supported by a weaker greenback and improving global risk sentiment. The dollar index fell to 97.75 in Asian trading, marking a two-month low.
Oil prices edged higher with Brent crude futures rising to $62.42 per barrel and US West Texas Intermediate adding to $58.41 per barrel, extending gains on strong US economic data and supply disruption concerns.
Investment Flows and Expert Outlook
Foreign Institutional Investors remained net sellers, offloading equities worth ₹1,795.00 crore, while Domestic Institutional Investors provided strong support as net buyers worth ₹3,812.00 crore.
Dr. VK Vijayakumar, Chief Investment Strategist at Geojit Investments, noted that as the year draws to a close, the market appears to be moving to a consolidation phase with an upward bias. He highlighted that strong domestic macros and supportive earnings growth expectations will provide fundamental support, while sustained domestic inflows and consistent DII buying will impart market resilience. The RBI's decision for an additional OMO of ₹2.00 lakh crore will significantly enhance liquidity and benefit banking stocks, he added.
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