Sensex Today: Indian benchmark indices ended with moderate gains in the volatile December 14 session. In contrast, the S&P BSE Sensex ranked range trading at 62,678, up 145 points or 0.23 percent. The NSE Nifty50, meanwhile, closed shop at 18,660, up 52 points or 0.28 percent.
The broader markets, on the other hand, outperformed benchmark indices as the BSE MidCap and SmallCap indices rose 0.59 percent and 0.68 percent, respectively.
On a sectoral basis, the Nifty Realty, Metal, IT and Media indices each rose more than 1 percent, followed by the Nifty Auto and Pharma indices (each up 0.6 percent). The Nifty FMCG index was the only loser, down 0.43 percent.
Shares of YES Bank fell 8 percent to Rs 22 on the BSE in Wednesday’s intraday trading, falling 11 percent from the day’s high of Rs 24.75 as investors posted profits after four days of relentless rally . They also took money off the table after private equity (PE) funds Carlyle Group and Advent took a 9.99 percent stake in the bank.
Shares of Paytm fell 3 percent to Rs 525.60 amid profit posting on the BSE during Wednesday’s intraday trading. However, JP Morgan said the Rs 850 crore share buyback program could support the share price in the near term.
Dr. UK Vijayakumar, Chief Investment Strategist at Geojit Financial Services, said: “The lower-than-expected US CPI inflation in November, which came in at 7.1% yoy and just 0.1% month on month, confirms market expectations that the Fed the interest with only 50bp today. The consensus terminal Fed fund rate is now slightly below 5%, which is market positive. However, since the US recession in 2023 is a very likely event, the market is unlikely to rise. In India, the banking index, and within the banking index, the PSU banking segment, is the strongest segment and can remain resilient. HDFC twins show strength. The recovery in the IT segment still has some momentum to gain. The resumption of FII purchases is another positive. However, Nifty is unlikely to break out of the 18,400-18,800 range and hold out at higher levels. High valuations are likely to dampen the rally.”
Rupee
The rupee is down 4 paise to 82.64 against the US dollar in early trading
Global signals
Asian stocks rose on Wednesday, bonds were firm and the dollar fed losses after data showed US consumer prices barely rose in November, raising hopes that inflation has peaked and interest rate hikes will slow and eventually stop in 2023.
Oil prices fell early in trading Wednesday after industry data showed U.S. crude inventories had built strongly, rather than the drop analysts predicted, reinforcing fears of weakening demand even as supply tightened. gets tighter.
Shares in Tokyo opened higher on Wednesday after US inflation data came in better than expected, with markets’ attention shifted to the Federal Reserve’s upcoming policy decision. The benchmark Nikkei 225 index rose 0.29 percent, or 80.17 points, to 28,035.02 in early trading, while the broader Topix index rose 0.14 percent, or 2.66 points, to 1,968.34.
US stocks rose on Tuesday after an unexpectedly small increase in consumer prices fueled optimism that the Federal Reserve would soon reverse its inflation-curbing rate hikes, but concerns remained that the central back could remain aggressive.
Read all the latest business news here