Mumbai Stocks Advanced, Nifty Above 20,000

Arjun Pandit
29 Nov, 2023
Mumbai

Benchmark indexes in Mumbai opened higher, bonds held firm, crude oil prices traded sideways, and gold jumped to a seven-month high.

The Sensex index and the Nifty index advanced 0.4% and extended gains from the previous session.

In Tuesday's trading, market indexes hovered near the flatline, but in the final hour of trading, the indexes advanced to close firmly in positive territory.

In Wednesday's trading, stocks built on the previous day's gains after domestic investors continued to invest in recent winners: tech services providers, consumer goods, state-owned enterprises, and power generators and distributors.

 

India Indexes and Yields

The Sensex index increased 262.28 points to 66,436.58, and the Nifty index rose 122.95 points to 20,012.60. 

On the Mumbai stock exchange, 105 stocks traded at their 52-week highs and 6 stocks traded at their 52-week lows.

The yield on the 10-year Indian government bonds edged up to 7.253%, and the Indian rupee weakened to ₹83.27 against the U.S. dollar.

The gold price increased by 0.1% to ₹62,830 per ten grams, and silver rose by 0.2% to ₹77,170 per kilo.

Crude oil decreased by 0.3% to ₹6,390 per barrel, and natural gas rose by 3.7% to ₹233.90 per thermal unit.

 

India Stock Movers

Tata Power Company added 1.7% to ₹275.05 after SJVN awarded the company a 200 MW renewable energy project.

Tata Consultancy Services increased 1.1% to ₹3,509.75, and the company set its ₹17,000 crore stock buyback period between December 1 and December 7.

Siemens declined 0.7% to ₹3,617.50, and the industrial engineering company reported its latest quarterly results.

Revenue in the quarter rose 25% from a year ago to ₹5,808 crore, but net income declined 12% to 571 crore.

Zomato added 3.8% to ₹118.10, and China-based Alipay is preparing to sell its stake in the delivery service provider.

Alipay is looking to sell a 3.4% stake in the company for about $400 million through block deals on Indian stock exchanges.

The stock sale news was first reported by Reuters.