Stock Market Updates: Sensex Rises Over 450 Points, Nifty Above 26,150; IT, PSU Bank Stocks Rally | Markets News

Stock Market Today

Sensex Today: Indian equity markets moved higher on Friday, December 5, after the Monetary Policy Committee (MPC), led by RBI Governor Sanjay Malhotra, announced a 25-basis-point rate cut, lowering the repo rate to 5.25%.

At 1 PM, the BSE Sensex stood at 85,743.11, up 477.79 points (0.56%), while the NSE Nifty50 traded at 26,189.75, higher by 156 points (0.6%).

Among Sensex constituents, Bajaj Finserv, Bajaj Finance, HCL Tech and State Bank of India led the rally, gaining up to 2.5%. On the other hand, HUL, Sun Pharma, Eicher Motors, Titan and Tata Motors (PV) were the top drags, slipping as much as 4%.

In the broader market, the Nifty MidCap index rose 0.39%, while the Nifty SmallCap index declined 0.62%.

Sectorally, Nifty PSU Bank, IT and Select Financial Services indices were the biggest gainers, each rising over 1%. Meanwhile, Nifty FMCG, Pharma, Media and Consumer Durables indices were under pressure, falling up to 0.61%.

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%.