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POST MARKET
The Indian benchmark indices snapped a three-day losing streak, tracking positive global markets amid rising expectations of a rate cut by the Federal Reserve in its December policy meeting.
At close, the Sensex was up 1,022.50 points or 1.21 percent at 85,609.51, and the Nifty was up 320.50 points or 1.24 percent at 26,205.30. About 2723 shares advanced, 1286 shares declined, and 141 shares were unchanged.
All the sectoral indices ended in the green with media, auto, private bank, oil & gas, power, PSU, realty, consumer durables, pharma, metal, and PSU Bank added 1-2%.
Biggest Nifty gainers included JSW Steel, HDFC Life, Bajaj Finserv, Bajaj Finance, Jio Financial, while Bharti Airtel, Asian Paints, and SBI Life Insurance were among the top losers.
Among the broader market indices, the BSE Midcap and smallcap indices rose 1.2% each.
STOCKS TODAY
DLF
The shares of DLF went up 1.34 percent, extending gains for the second consecutive session. This was driven by positive investor sentiment amid higher hopes for the RBI delivering a rate cut during its upcoming meeting in December boosted investor sentiment.
SAIL
Shares of Steel Authority of India went up 3.2 percent along with other metal companies, pushing the Nifty Metal index higher into the green for the second consecutive session. This comes after the Steel Secretary hinted at the government being close to a decision on safeguard duty on some steel imports.
GMDC
Shares of Gujarat Mineral Development Corporation (GMDC) rose sharply on Wednesday, gaining 9.42 percent, supported by renewed investor interest after reports of a forthcoming incentive scheme aimed at promoting domestic production of rare earth permanent magnets (REPM).
BPCL
Indian oil marketing company (OMC) Bharat Petroleum Corporation Ltd (BPCL) climbed 3.33 percent as crude oil prices remained under pressure, extending their decline to one-month lows. The rebound in Indian Oil Corp, HPCL and BPCL stocks comes a day after the three PSU oil marketers fell on Tuesday following a sharp downgrade from Investec.
Tata Motors
Shares of Tata Motors Passenger Vehicles (Tata Motors PV) traded higher by almost 2 percent, after multiple brokerages said the Sierra is well positioned to lift the company’s share in the mid-size SUV market and a broader rally across auto stocks.
Source – Money Control