Nifty at all-time high; Sensex crosses 67K; breadth strong

The key equity indices traded with decent gains in early trade. The Nifty marched above the 20,200 level. Barring the Nifty IT index, all the other sectoral indices on the NSE traded in the green.

At 09:27 AM IST, the barometer index, the S&P BSE Sensex, was up 314.47 points or 0.47% to 67,302.91. The Nifty 50 index added 91.10 points or 0.45% to 20,224.25.

The benchmark, Nifty50 index hit a fresh all-time high in early trade at 20,232.75.

In the broader market, the S&P BSE Mid-Cap index gained 0.59% while the S&P BSE Small-Cap index advanced 0.70%. The S&P BSE Mid-Cap index and S&P BSE Small-Cap index has hit an all time high of 34,481.70 and 40,718.81.

The market breadth was strong. On the BSE, 2,139 shares rose, and 595 shares fell. A total of 95 shares were unchanged.

On the macro front, the S&P Global Services PMI for November will be declared today, 1 December 2023.

India`s gross domestic product (GDP) for the second quarter of the ongoing financial year accelerated to 7.6% year-on-year, showed data shared by the Ministry of Statistics and Programme Implementation on Thursday. In the same period last year, the GDP growth stood at 6.2%.

Foreign portfolio investors (FPIs) bought shares worth Rs 8,147.85 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 780.32 crore in the Indian equity market on 30 November, provisional data showed.

Numbers to Track:

The yield on India`s 10-year benchmark federal paper rose 0.15% to 7.290 as compared with previous close 7.279.

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 83.2800, compared with its close of 83.3775 during the previous trading session.

MCX Gold futures for 5 December 2023 settlement lost 0.09% to Rs 62,500.

The US Dollar index (DXY), which tracks the greenback`s value against a basket of currencies, was down 0.17% to 103.32.

The United States 10-year bond yield slipped 0.32% to 4.335.

In the commodities market, Brent crude for January 2024 settlement declined 40 cents or 0.49% to $80.46 a barrel.

Stocks in Spotlight:

LTIMindtree rose 0.73%. LTIMindtree announced that it has been selected as a strategic partner by Metasphere, a wastewater application specialist, to scale their Smart Sewers management platform. As a part of this engagement, LTIMindtree will transform Metasphere�s next-generation wastewater monitoring solution portfolio, and enable scalable delivery and platform to their customers.

Power Grid Corporation of India added 0.69%. The company has been declared as successful bidder under Tariff Based Competitive Bidding to establish two Inter-State Transmission System Projects under Build, Own Operate and Transfer (BOOT) basis.

Dixon Technologies (India) advanced 0.96%. Padget Electronics, wholly owned subsidiary of Dixon Technologies (India), inaugurated a new smartphone manufacturing plant in the Noida district, Uttar Pradesh on 30 November 2023.

Global markets:

Asian stocks were trading mostly lower on Friday, breaking ranks with Wall Street which mostly advanced on Thursday, amid mixed economic data from across the region.

China�s manufacturing sector unexpectedly expanded in November, according to a survey by Caixin. The Caixin purchasing managers� index climbed to 50.7 last month from 49.5 in October, as a rise in new orders helped lift factory production.

US stocks were mixed on Thursday as investors continued to bet on interest rate cuts after a key reading on consumer inflation. Data released early Thursday showed that the personal consumption expenditures price index rose 3.5% on a year-over-year basis, a slowing from a 3.7% annual gain in prior month.

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