Sensex gains 223 points, Nifty settles above 18,150 on Dec F&O expiry

The Nifty50 index closed 68 points or 0.38% higher at 18,191, while S&P BSE Sensex rose 223 points or 0.37% to settle at 61,134.

From the Sensex pack,

, , and were the top gainers, rising about 1.5-2%. , , , M&M and also closed with gains.

On the other hand,

, , , L&T, and closed with cuts.

Meanwhile, the market capitalisation of all listed companies on the BSE surged by Rs 1.33 lakh crore to Rs 282.45 lakh crore.

Sectorally, the Nifty Metal advanced 1.08% and Nifty Bank surged 1%. Auto, financials, pharma, realty and IT stocks also closed higher. Whereas, in the broader market, Nifty Midcap50 ended flat and Smallcap50 rose 0.12%.

“The domestic market trend was influenced by the movements of its global counterparts, as a negative US closing pushed Indian bourses to a poor start,” Vinod Nair, Head of Research at Geojit Financial, said.
“However, positive signals from US futures lifted the benchmark index above the flatline. Markets will continue to witness such sudden movements, underpinned by lingering recession and Covid fears, which will be countered by bargain hunters,” Nair added.

Asian markets ended in the red as the Covid surge in China cast a shadow over markets across the region. Japan’s Nikkei 225 fell 0.94%, South Korea’s Kospi dropped 1.93% and China’s Shanghai Composite declined 0.44%.

The Indian rupee eked out slim gains on Thursday. It ended at 82.79 per dollar against its previous close of 82.85. The Brent crude March futures declined 1.51% to $82.72 per barrel.

The market breadth was skewed in favour of bulls. About 1,874 stocks gained, 1,604 declined and 150 remained unchanged.

“The key resistance level for Nifty50 is 18,350 and on the downside 18,000 can act as strong support. Key resistance and support levels for Bank Nifty are 43,700 and 42,700, respectively,” Mohit Nigam, Fund Manager & Head – PMS, Hem Securities, said.