Closing Bell: Nifty Ends 200 Pts Higher At 26,172, Sensex Closes With 638 Pts Gain; What Fuelled The Rally?

Stock Market Closing: The Indian stock market closed on higher note on Monday, December 22, with Nifty 50 comfortably concluding above the 26,100 mark. The broad market indices, including Nifty Smallcap, Nifty Midcap, etc saw a sharp jump during the session. Trent, Shriram Finance, Wipro, Infosys, Garden Reach Shipbuilders & Engineers Limited, etc were among the top stock market gainers today.

Nifty 50 closed 206 pts higher at 26,172 points on Monday, whereas BSE Sensex jumped 638 points to close at 85,567 points. Nifty Metals, Nifty Chemicals, Nifty Auto were among the top performing thematic sector indices.

Nifty Up 200 Pts, Sensex Jumps 629 Pts: What Fuelled The Rally?

The positive conclusion of Nifty and Sensex came as investors continued to remain bullish and hopped in to participate in the year-end rally. The sharp jump has come as the market rally was supported by macro indicators.

Foreign institutional investors added further support to Indian equities by turning net buyers in the cash market for three straight sessions. On Friday, 19 December, FIIs purchased shares worth about Rs 1,831 crore, while domestic institutional investors bought an even larger Rs 5,723 crore.

Top Gainers Of The Day

Trent, Wipro, Shriram Finance, Wipro, Infosys, Bharti Airtel, Tech Mahindra, TMPV, Bajaj Auto, etc are among the top Nifty 50 gainers of the day. Additionally, GE Vernova, MCX, Waareee Energies, KEC International were among the top gainers due to favourable developments related to their business.

Meanwhile, the record breaking rally in gold and silver prices and demand for the base metals continue to fuel the metal sector stocks rally including Hindustan Zinc, Hindustan Copper, Nalco, JSW Steel, etc.

Top Losers of The Day

HDFC Life, Tata Consumer, SBIN, Kotak Bank, Cipla, IndiGo, SBI Life, etc were among the top Nifty 50 losers during the session. IniGO share price today continued to remain under pressure even after the resolution of the widespread flight cancellation fiasco.

Traders attribute the early surge to firmer global cues, a stronger rupee and fresh foreign buying. The mood on Dalal Street is optimistic, as many participants now expect a year-end rally supported by improving macroeconomic signals and steady corporate earnings expectations.

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