Sensex, Nifty continue to rally for 4th day running

An employee of a stock trading firm looking at a share price on his computer in Mumbai. File photo
| Photo Credit: The Hindu

Equity benchmark indices maintained their winning run for the fourth day running on Wednesday, December 27, 2023, helped by optimism over the country’s macroeconomic fundamentals and firm global market trends.

The 30-share BSE Sensex jumped 289.93 points to 71,626.73 in early trade. The Nifty climbed 90.45 points to 21,531.80.

Among the Sensex firms, UltraTech Cement, Bajaj Finance, Bajaj Finserv, Tata Motors, Larsen & Toubro and Power Grid were the major gainers.

Asian Paints, NTPC, Maruti and Hindustan Unilever were among the laggards.

In Asian markets, Tokyo, Shanghai and Hong Kong quoted with gains while Seoul traded lower.

The US markets ended in the green on Tuesday.

“The resilience of the market even in the holiday season, which is normally devoid of much action, is an indication of its underlying bullishness. The global support to the market from the mother market US where the S&P 500 is close to all-time high is significant,” said V.K.Vijayakumar, Chief Investment Strategist, Geojit Financial Services.

Global oil benchmark Brent crude declined 0.07 per cent to USD 81.01 a barrel.

Foreign Institutional Investors (FIIs) offloaded equities worth ₹95.20 crore on Tuesday, according to exchange data.

The BSE benchmark climbed 229.84 points or 0.32 per cent to settle at 71,336.80 on Tuesday. The Nifty advanced 91.95 points or 0.43 per cent to 21,441.35.

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