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Nifty settles above 17,400; Sensex regains 58K, ends 776 points higher; IT, Adani Ports, HDFC stocks shine

However, midcap and smallcap indices remained underperformers, while the volatility index softened further by over 5% today.

December 02, 2021 3:43 IST | India Infoline News Service
Stock Market Up
Equity benchmarks extended gains for the second consecutive session on Thursday and shrugged off tepid global cues. Also, upbeat economic data for November and steady GDP growth in Q2FY22 lifted investors’ sentiments. The Sensex rose as much as 776 points and the Nifty 50 index was trading above its important psychological level of 17,400, ending 234 points higher or 1.37%.

The overall market breadth was extremely positive as 47 shares were advancing while 3 were declining on the NSE.

Baring realty, all key sectoral indices traded in positive territories today with Nifty IT, Financial Services and Metal witnessing over 1% gains.

However, midcap and smallcap indices remained underperformers, while the volatility index softened further by over 5% today.

Notably, housing finance companies were in focus today as risk-reward in many HFCs became favourable after the recent correction.

Adani Ports, HDFC, Powergrid and Sun Pharma were among the top Nifty gainers, while Axis Bank, ICICI Bank, Cipla and Ultratech Cement were laggards.  

Meanwhile, the Indian rupee depreciated by 8 paise to 74.99 against the US dollar as investor concerns grew over the fresh impact of the new COVID variant on the economy.

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PRESTIGE (NSE)

The average score for Prestige Estates Projects Limited stands at 4 against 6, three months back.

Prestige Estates Projects Limited is engaged in the business of real estate development. The Company’s principal products/services include Development and construction

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