Sensex Crosses 71,000 and Nifty Surpasses 21,300 in Record Rally; IT and Metal Stocks Lead Gains

15 Dec 2023 , 01:07 PM

Equity benchmarks, the Sensex and the Nifty, continued their record run on December 15, with the Nifty surpassing 21,300 and the Sensex crossing the 71,000-mark for the first time.

As of 1 PM:

– The Sensex was up 495.49 points or 0.70% at 71,009.69.

– The Nifty was up 147.10 points or 0.69% at 21,329.80.

During this trading session, about 1759 shares advanced, 1401 shares declined, and 84 shares remained unchanged.

The market’s stellar gains indicated a potential seventh consecutive week of closing in the green, a feat last achieved three years ago. Hopes of an easing macroeconomic environment due to earlier-than-expected cuts in US interest rates continued to boost sentiment for the information technology sector, lifting the Nifty IT index by nearly 4%.

A cooling dollar index supported a rally in metal stocks, with the Nifty Metal index gaining nearly 2%. The BSE Midcap index was trading flat, while the Smallcap index was up by 0.7%. Among sectors, Metal, Oil & Gas, and Information Technology were up by 1-4%, while FMCG and Realty indices were trading in the red.

Key Nifty gainers included HCL Tech, TCS, Infosys, Tech Mahindra, and LTI Mindtree. On the other hand, key Nifty losers were HDFC Life, Nestle, SBI Life, ITC, and Britannia.