Stock Market Updates: Sensex Rises 300 Points; IT, Banks Gain As RBI MPC Cuts Repo Rate By 25 bps | Markets News

Stock Market Today

Sensex Today: Indian equity markets edged higher on Friday, December 5, after the Monetary Policy Committee (MPC), led by RBI Governor Sanjay Malhotra, cut the repo rate by 25 basis points to 5.25 per cent.

The BSE Sensex rose to 85,483, up 217 points or 0.26 per cent, while the Nifty50 climbed to 26,071, gaining 38 points or 0.15 per cent.

Reliance, Trent, Tata Steel, Bharti Airtel, Tata Motors PV, Sun Pharma and Titan were among the top laggards on the Sensex. Eternal, BEL, Maruti Suzuki, Bajaj Finance, Kotak Bank, Infosys and Ultratech Cement led the gainers.

In the broader market, the Nifty MidCap index slipped 0.07 per cent, while the Nifty SmallCap index fell 0.30 per cent.

Sectorally, Nifty Pharma and Nifty Metal were down 0.3 per cent each, whereas Nifty Realty inched up 0.28 per cent.

Global Cues

In global markets, Asia-Pacific indices traded lower on Friday following a lacklustre session on Wall Street. Australia’s S&P/ASX 200 slipped 0.17%, Japan’s Nikkei 225 fell 1.36%, while South Korea’s Kospi hovered slightly below the flatline.

Overnight in the US, major indices closed mixed as traders evaluated labour data and other economic indicators. Expectations of a Federal Reserve rate cut next week provided some support. The S&P 500 inched up 0.11%, the Nasdaq Composite rose 0.22%, and the Dow Jones Industrial Average eased 0.07%.

FII, DII Flow

Foreign institutional investors (FIIs) sold shares worth ₹1,681.46 crore, while domestic institutional investors (DIIs) bought equities worth ₹3,188.04 crore on Thursday, December 4.

IPOs Today

Mainboard: Vidya Wires, Meesho, and Aequs IPOs enter their final subscription day.

SME: Issues from Methodhub Software, ScaleSauce (Encompass Design India), and Flywings Simulator Training Centre open today. Western Overseas Study Abroad and Luxury Time IPOs move into day two, while Shri Kanha Stainless wraps up subscriptions today.

Exato Technologies, Logiciel Solutions, and Purple Wave Infocom are set to list on the exchanges today.

Commodity Check

Oil prices were mixed on Friday morning. Brent crude rose 0.94% to $63.26 per barrel, while US WTI crude was nearly unchanged at $59.66 per barrel, down 0.02%.