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What happened in the Indian stock market today?
In the unpredictable realm of finance, December 4, 2023, became a day of chaotic market dynamics.

Market Update Today (04-Dec-2023)

The day kicked off with a bang as the equity markets extended their winning streak for the fifth consecutive session. The BJP’s decisive victories in Madhya Pradesh, Rajasthan, and Chhattisgarh elections fueled fiery investor optimism.

Analysts pointed to robust macroeconomic data, consistent foreign fund inflows, and the overall positive sentiment established in the previous week.

By the closing bell, the Sensex soared by 1383.93 points (2.05%), reaching a dizzying height of 68,865.12. Similarly, the Nifty reached a record high, gaining 416.95 points (2.06%) and touching 20,684.85.

Impact on the stock market

Sectorial performance

Sector/IndexPerformance
Information Technology+ 0.92%
Healthcare+ 0.18%
Oil & Gas+ 2.1%
Real Estate+ 1.85%
Banks+ 3.28%

Top gainers today

CompanyPriceChange (%age)
Gujarat State Fertilizer & Chemicals Ltd.215.3011.15%
Cyient Ltd.2189.159.54%
Adani Green Energy Ltd.1123.759.47%
Central Bank of India48.309.02%
Hindustan Petroleum Corporation Ltd.376.508.95%

Top losers today

CompanyPriceChange (%age)
Whirlpool of India Ltd.1321.05– 6.70%
KNR Constructions Ltd.269.85– 5.51%
Zee Entertainment Enterprises Ltd.255.90– 3.99%
Delta Corp Ltd.140.45– 3.76%
Timescan Logistics (India) Ltd.141.00– 2.99%

Market aftermath: Impact on stocks

BSE Midcap and Smallcap indices also surged to record highs, closing at 34,999.76 (up 1.19%) and 41,051.01 (up 1.20%), respectively. The BSE witnessed a flurry of activity, with 427 stocks hitting a 52-week high. The bulls had the upper hand as 2,415 stocks advanced while 1,401 declined.

The market capitalisation on BSE increased to ₹343.5 lakh crore, a ₹5.8 lakh crore gain in one session.

You may also like: Gautam Adani’s net worth: The man and the mogul 

Adani’s grand rally: 

The Adani Group stole the spotlight as its listed firms experienced a rally, echoing the broader market’s upswing. Adani Green Energy soared by 8%, leading the pack. The combined market capitalisation of all Adani Group firms touched a staggering Rs 12 lakh crore.

The BSE witnessed Adani Green Energy’s scrip surge by 8%, Adani Enterprises rallied 6.61%, and ACC bounced 6.35%. Adani Power, Adani Ports, and other group companies also had a bullish move.

Adani stocks soar as the Supreme Court upholds SEBI findings, giving a clean chit to 22 of 24 market manipulation cases against the Adani group. Investors, buoyed by COP28 (28th session of the Conference of the Parties (COP) to the United Nations Framework Convention on Climate Change)and clean energy themes, seek increased exposure to Adani stocks. 

Inox Wind Ltd

Inox Wind Limited completed an infusion of Rs 800 crore from its promoter, Inox Wind Energy Limited. Stocks trade at Rs 331.85, up by 15.27%, on the NSE.

Bajaj Healthcare

Bajaj Healthcare’s shares dipped 0.88% to Rs 381.50 as the company’s CFO, Rupesh Nikam, resigned from the position on Dec 1.

Crude oil slips below $79

Despite geopolitical tensions in the Middle East and attacks on commercial vessels in the Red Sea region, crude oil futures slipped below $79 per barrel on Monday.

Uncertainty looms over OPEC+’s voluntary production cuts, influencing the downturn. On Monday, February, Brent oil futures registered at $78.41, reflecting a 0.60% drop. 

Also Read: Commodity swap: Meaning & how it works?

Simultaneously, January WTI crude oil futures traded at $73.69, down by 0.51%. On the Multi Commodity Exchange (MCX), December crude oil futures opened at ₹6166, a 1.83% decrease from the previous close, while January futures were at ₹6205, down by 1.55% from ₹6303 at the close.

Conclusion

December 4, 2023, will be etched in market history. The surge in indices, the Adani Group’s spectacular rally, and corporate manoeuvres created a day of excitement, leaving everyone wondering: what’s next in the thrilling saga of the stock market?

In the dynamic world of finance, one thing is certain – buckle up because the markets are always ready for another adrenaline-pumping ride!

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Hunny Meghani

A curious mind, a love for writing, and a passion for all things finance - that's me in a nutshell. Whether I'm exploring the latest stock market trends or diving into the nitty-gritty of personal finance, marketing, and AI. I'm always on the hunt for the next big story.

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