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December 02, 2021 / 04:16 PM IST

Closing Bell: Sensex gains 776 points, Nifty around 17,400 led by IT, metal, power stocks

All the sectoral indices ended in the green with IT, metal, realty, auto, FMCG, oil & gas, power indices up 1-2 percent. BSE Midcap and Smallcap indices added 1 percent each.

  • IndexPricesChangeChange%
    Sensex62,828.20323.40 +0.52%
    Nifty 5018,662.95100.20 +0.54%
    Nifty Bank43,166.55146.10 +0.34%
    Nifty 50 18,662.95 100.20 (0.54%)
    Tue, Nov 29, 2022
    Biggest GainerPricesChangeChange%
    HUL2,617.8592.65 +3.67%
    Biggest LoserPricesChangeChange%
    Bajaj Finserv1,634.85-18.00 -1.09%
    Best SectorPricesChangeChange%
    Nifty FMCG45057.80806.70 +1.82%
    Worst SectorPricesChangeChange%
    Nifty Midcap 10031727.80-91.10 -0.29%

  • December 02, 2021 / 04:08 PM IST

    Mohit Nigam, Head - PMS, Hem Securities:

    Indian Benchmark Indices ended on a positive note. All sectoral indices closed in green. Strong buying was seen in the IT, Metal and oil & gas sector.

    Indian benchmark indices witnessed strong gains amid weak global cues. Rising crude prices, firm dollar amid omicron fears can limit the upside for the market in the short term. 

    On the technical front 17,175 and 17,550 are immediate support and resistance levels for Nifty50 and for Bank Nifty immediate support and resistance levels are 35900 and 37250.

  • December 02, 2021 / 04:04 PM IST

    Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments

    The Nifty has closed around its resistance area of between 17400-17500. If we can trade above this zone for a couple of days, the markets can restart its upward trajectory. 

    If the market has to resume the current weakness, it would need to take a U-turn from here and head downward. Either way, a good trading opportunity is in the offing.

  • December 02, 2021 / 03:56 PM IST

    Vinod Nair, Head of Research at Geojit Financial Services:

    Irrespective of the weak sentiments in the international markets, domestic indices continued to rise due to gains in IT, financials and metal stocks amid strong domestic macroeconomic data. 

    Fed Chair’s remarks stating a possibility of a faster end to the bond-buying programme and interest rate hike along with the first confirmed case of the Omicron variant in the US, triggered a fresh global sell-off. 

    The Union government’s fiscal deficit of 36.3% of budget estimates in October, is better owing to improved revenue collection.

  • December 02, 2021 / 03:49 PM IST

    S Ranganathan, Head of Research at LKP securities:

    Bulls held the upper hand today as Indices sprinted over a percentage led by the IT Index during afternoon trade. As the volatility index cooled off today, we witnessed stock-specific action across sectors in the broader markets buoyed by GDP & GST data together with cooling Energy prices. Advance - Declines showed a marked improvement today with most of the sectoral indices ending in the green.

  • December 02, 2021 / 03:45 PM IST

    Ashwin Patil, Senior Research Analyst at LKP Securities

    In line with the continuous increase in input costs led by steel, aluminium etc, automakers are increasing prices of vehicles to maintain profitability. 

    This move shall not impact demand significantly since customers are waiting for production to normalise given the fact that semiconductor chip availability has been haunting the sector. Once the chip issue gets sorted, buyers may ignore the price hikes and demand will continue well.

  • December 02, 2021 / 03:39 PM IST

    Gaurav Ratnaparkhi, Head of Technical Research, Sharekhan by BNP Paribas:

    The Nifty continues to witness oscillations within the dynamic falling channel & formed an Inside bar on the daily chart on December 01. A recent dip on November 30 had taken support near the hourly lower Bollinger Band. Thereon the index took a leap towards the junction of the 40 hour exponential moving average & the hourly upper Bollinger Band. Also, the Nifty has reached upper end of the dynamic falling channel. 

    All these parameters are in the range of 17230-17250. Beyond this barrier, the bulls will be set to stretch their arms. Also, the positive momentum is expected to pick up further once the swing high of 17324 gets taken out. 

    So traders need to closely monitor these levels going ahead. On the other hand, 17060-17000 will be the near term support zone, which can provide cushion in the case of any minor degree dip.

  • December 02, 2021 / 03:33 PM IST

    Market Close: Indian benchmark indices ended higher for the second consecutive session on December 2 with Sensex gaining more than 700 points.

    At close, the Sensex was up 776.50 points or 1.35% at 58,461.29, and the Nifty was up 234.80 points or 1.37% at 17,401.70. About 2139 shares have advanced, 1040 shares declined, and 139 shares are unchanged.

    Adani Ports, HDFC, Power Grid Corp, Tata Steel and Sun Pharma were among the major Nifty gainers. The losers included ICICI Bank, Cipla and Axis Bank.

    All the sectoral indices ended in the green with IT, metal, realty, auto, FMCG, oil & gas, power indices up 1-2 percent. BSE Midcap and Smallcap indices added 1 percent each. 

  • December 02, 2021 / 03:26 PM IST

    Bharat Dynamics bags orders worth Rs 471 crore from The Indian Army

    Bharat Dynamics and Indian Army signed a contract worth Rs 471.41 crore for Refurbishment of IGLA - 1M missiles. The value of the contract is Rs 471.41 crore, company said in the release.

    Bharat Dynamics Ltd. was quoting at Rs 422.70, up Rs 10.45, or 2.53 percent on the BSE.

  • December 02, 2021 / 03:23 PM IST

    Dish TV clarifies on news of Bharti Airtel in talks to buy majority stake in the company

    Dish TV India clarified that there is no information available with the company which is required to be reported under extant SEBI Regulation (Regulation 30), which may have bearing on the stock price of the company. 

    Further, we would also state that the company is not aware of the transaction which has been reported in the news report, company said in the release.

    Dish TV India was quoting at Rs 18.05, up Rs 0.85, or 4.94 percent.

  • December 02, 2021 / 03:21 PM IST

    Skipper wins new orders of Rs 300 crore in engineering product business

    Skipper has secured fresh new order of Rs 300 crores for transmission and telecom towers from Power Grid Corporation of India (PGCIL) and from various export markets, company said in the release. 

    Skipper was quoting at Rs 78.95, up Rs 12.00, or 17.92 percent.

  • December 02, 2021 / 03:12 PM IST

    BSE Metal index gained 1 percent led by the Tata Steel, NMDC, APL Apollo

     BSE Metal index gained 1 percent led by the Tata Steel, NMDC, APL Apollo