At the close, the S&P BSE SENSEX was down 57 points, or 0.07%, at 81,709.12 levels. The session ended with the broader NIFTY50 index down 30.6 points, or 0.12%, at 24,677.80.Today's stock market: Due to a drop in index heavyweights including RIL, HDFC Bank, Bharti Airtel, and Infosys, the domestic equities market finished Friday, December 6, flat and biased negatively.
As anticipated, the RBI cut the cash reserve ratio for banks by 50 basis points to 4%, causing the indexes to oscillate between positive and negative areas during the day.
At the close, the S&P BSE SENSEX was down 57 points, or 0.07%, at 81,709.12 levels. The session ended with the broader NIFTY50 index down 30.6 points, or 0.12%, at 24,677.80.
However, today marked the benchmark indices' greatest week since June, with financials leading the way.
"To address the likely tightening of liquidity conditions further over the next few months—on account of tax outflows, currency in circulation, and volatile capital flows—the RBI gave a 50 bps CRR cut, restoring it to 4%," said Amit Somani, Senior Fund Manager-Fixed Income, Tata Asset Management, in response to the RBI's decision. Given that one-year CD rates are currently trading between 7.50% and 7.60%, this is probably going to stabilize short-term rates in the near future.
The information you need to know about today's session is included here.
Top NIFTY50 index gainers and losers
Of the 50 equities that make up the NIFTY50 index, up to 32 ended the day in the red and the remaining 18 in the green.
Tata Motors, Bajaj Auto, Axis Bank, BPCL, and Dr. Reddy's were the top five gainers. Adani Ports, Cipla, Bharti Airtel, HDFC Life, and IndusInd Bank were the top five losers.
Market Data
Of the 4,088 equities that were traded on the BSE, 99 scrips stayed the same, 2,399 rose, and 1,590 fell.
Thirteen stocks reached their 52-week lows, and up to 233 stocks reached their 52-week highs.
Additionally, 191 scrips struck their lower circuit bands while 410 scrips contacted their upper circuit limitations.
Sector Observation
Every sectoral index, with the exception of technology, finished the day higher. The BSE IT index had a negative bias and closed flat.
The largest gains were in consumer durable stocks and metals. The BSE METAL index experienced a 1.17% increase.
Buzzing Stocks Vedanta's shares closed more than 6% higher on the NSE at ₹501.40 per. Crisil Ratings has raised its rating for the company's debt instruments and long-term bank facilities.
Strong volume growth, enhanced financial flexibility, and an improved capital structure are the main drivers of the upgrade, it continued.
As SEBI, the capital markets regulator, barred five entities, including Mishtann Foods and its promoter and CMD Hiteshkumar Gaurishankar Patel, from the securities markets on Thursday until further orders for alleged financial mismanagement, fraudulent transactions, and corporate governance lapses, shares of the company fell 20% to ₹12.42 apiece on the BSE on Friday, December 6.
Of the 4,088 equities that were traded on the BSE, 99 scrips stayed the same, 2,399 rose, and 1,590 fell.
Thirteen stocks reached their 52-week lows, and up to 233 stocks reached their 52-week highs.
Additionally, 191 scrips struck their lower circuit bands while 410 scrips contacted their upper circuit limitations.
Sector Observation
Every sectoral index, with the exception of technology, finished the day higher. The BSE IT index had a negative bias and closed flat.
The largest gains were in consumer durable stocks and metals. The BSE METAL index experienced a 1.17% increase.
Buzzing Stocks Vedanta's shares closed more than 6% higher on the NSE at ₹501.40 per. Crisil Ratings has raised its rating for the company's debt instruments and long-term bank facilities.
Strong volume growth, enhanced financial flexibility, and an improved capital structure are the main drivers of the upgrade, it continued.
As SEBI, the capital markets regulator, barred five entities, including Mishtann Foods and its promoter and CMD Hiteshkumar Gaurishankar Patel, from the securities markets on Thursday until further orders for alleged financial mismanagement, fraudulent transactions, and corporate governance lapses, shares of the company fell 20% to ₹12.42 apiece on the BSE on Friday, December 6.
A Wider Market
While the BSE SmallCap index concluded the day at 57,050.71, down 343 points, or 0.6%, the BSE MidCap index ended the day at 47,669.72, up 169 points, or 0.36%.
While the BSE SmallCap index concluded the day at 57,050.71, down 343 points, or 0.6%, the BSE MidCap index ended the day at 47,669.72, up 169 points, or 0.36%.
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