On December 22, the Indian stock market, represented by the Sensex and Nifty 50, marked its second consecutive positive close, driven by gains in IT heavyweights like Infosys, HCL Tech, and Wipro, despite mixed global cues.
The positive sentiment in the domestic market can be attributed to robust macroeconomic indicators and a global trend of decreasing inflation. The announcement from the US Federal Reserve that they will not raise interest rates further has further boosted investor confidence. However, concerns regarding high valuations have led to sporadic profit-booking.
The Sensex concluded the day with a gain of 242 points (0.34%), closing at 71,106.96, while the Nifty 50 ended 94 points (0.44%) higher at 21,349.40 on Friday. Key contributors to these gains were shares of Infosys, Larsen & Toubro, HCL Tech, Wipro, and TCS.
In comparison, mid and small-cap stocks outperformed the benchmark Sensex, with the BSE Midcap and Smallcap indices rising by 0.74% and 1.04%, respectively.
However, for the week, both the Sensex and Nifty 50 saw declines of about half a percent, while the BSE Midcap index lost almost one percent. The BSE Smallcap index recorded a marginal decline of approximately 0.2% for the week.
The overall market capitalization of BSE-listed firms increased from nearly ₹354.1 lakh crore to around ₹356.7 lakh crore in a single session, resulting in investors gaining approximately ₹2.6 lakh crore.
During the day’s trading, over 240 stocks, including IndusInd Bank, Wipro, DLF, GAIL, Hindalco, Persistent Systems, and Life Insurance Corporation of India (LIC), reached their fresh 52-week highs on the BSE.
