New Intra-day Highs In Sensex and Nifty Indexes

Arjun Pandit
28 Dec, 2023
Mumbai

Stocks in Mumbai traded higher for the third day in a row amid volatile crude oil prices in international markets.

The Sensex and the Nifty indexes advanced and extended their weekly gains amid positive market sentiment and steady investment flows from domestic and international investors.

Crude oil prices remained volatile amid worries about the prospect of a wider conflict in the Middle East after the U.S. military targeted several installations in Iraq controlled by Iran-backed rebels.

Market indexes in Hong Kong and Shanghai advanced after foreign investors purchased stocks worth $790 million on Wednesday, according to Stock Connect data available from exchanges.

In broader Asian trading, benchmark indexes in South Korea and Australia advanced around 0.4% but declined 0.3% in Tokyo.

 

India Indexes and Yields

The Sensex index increased 137.95 points to 72,176.38, and the Nifty index rose 41.40 points to 21,696.15.

On the Mumbai stock exchange, 266 stocks traded at their 52-week highs and 13 stocks traded at their 52-week lows.

The yield on the 10-year Indian government bonds held firm at 7.20%, and the Indian rupee hovered near ₹83.27 against the U.S. dollar.

The gold price increased by 0.2% to ₹63,821 per ten grams, and silver edged up by 0.08% to ₹75,707 per kilo.

Crude oil decreased by 0.5% to ₹6,181 per barrel, and natural gas fell by 1.0% to ₹205.30 per thermal unit.

 

India Stock Movers

Among the widely held stocks, Asian Paints, Bajaj Auto, and Dr. Reddy's Labs were among the decliners.

Reliance Industries, HDFC Bank, Coal India, Trent, Bajaj FinServ, Mahindra &Mahindra, SBI Life, Hero Motocorp, and NTPC traded higher.

Zomato decreased 3% to ₹123.20 after the delivery company received ₹402 crore demand for unpaid GST from the regulatory authorities.

Housing & Urban Development Corp. soared 17% to ₹134.15 after the company signed an investment agreement worth 14,500 crore with the Gujarat government.

Azad Engineering increased to ₹714.20 after the company priced its initial public offering at ₹524 per share.

KPI Green Energy advanced 4.9% to ₹1,341.45 after the company board is scheduled to meet on December 30 to consider a bonus share issue to shareholders.