The BSE Sensex was up 449.53 points, or 0.53%, closing at 85,267.66. The NSE Nifty rose by 148.40 points, or 0.57%, settling at 26,046.95.
The broader market saw positive movement as well, with Nifty MidCap up 1.18% and Nifty SmallCap advancing 0.94%.
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Impact on the stock market
Sector-wise performance
Sectors saw mixed performances today. The Nifty Metal index was the top performer, gaining 2.63%, followed by gains in Nifty Realty (1.53%), Nifty Consumer Durables (1.46%), and Nifty Oil and Gas (1.11%). On the downside, the Nifty FMCG and Nifty Media indices ended in the red, reflecting some sector-specific pressure.
| Sector/Index | Performance |
| IT & BPM sector | 0.47% |
| Healthcare sector | 0.26% |
| Oil & Gas sector | 1.11% |
| Real estate sector | 1.53% |
| PSU Bank in India | 0.15% |
Top gainers today
| Company | Share Price (in ₹) | Change % |
| Hindalco | 852.10 | 3.37 |
| Tata Steel | 171.89 | 3.31 |
| Eternal | 298.05 | 2.44 |
| UltraTechCement | 11,723.00 | 2.19 |
| Nestle | 1,238.30 | 1.92 |
Top losers today
| Company | Share Price (in ₹) | Change % |
| HUL | 2,260.60 | -1.95 |
| Sun Pharma | 1,793.50 | -0.76 |
| ITC | 400.10 | -0.69 |
| Max Healthcare | 1,081.30 | -0.61 |
| Asian Paints | 2,764.80 | -0.52 |
Market aftermath: Impact on stocks
GMDC: Shares jump 7% after coal mine clearances
GMDC shares rose over 7% after the company received environmental clearances for its Baitarni-West coal mine in Odisha. This clearance marks a significant step in GMDC’s expansion in India’s energy sector. The stock hit Rs 529.90 per share, continuing its upward momentum after a few consecutive sessions of gains. The Baitarni-West mine is expected to be a value-accretive asset for GMDC, with the company set to strengthen India’s energy ecosystem. Despite recent fluctuations, GMDC has gained 28% in the last six months and remains focused on long-term growth.
PNB Housing Finance: Shares rise 5% after new CEO appointment
PNB Housing Finance shares rose 5% after the announcement of Ajai Kumar Shukla as the new MD & CEO. Shukla, who brings over 30 years of experience in the housing finance sector, is expected to steer the company through the competitive housing finance market. The stock gained to Rs 948.30, marking its sharpest rise in over eight months. His appointment comes at a crucial time as the sector faces heightened competition from banks in premium home lending, while affordable housing gains traction.
IDBI Bank: Shares jump 4% on Fairfax’s bid for stake
IDBI Bank shares gained 4% after a report revealed that Fairfax Financial emerged as the frontrunner to acquire a controlling stake in the bank. The stock reached Rs 98.95, its highest in seven sessions. Fairfax, led by billionaire Prem Watsa, is reportedly offering an all-cash bid, matching IDBI’s current market value. This has brought renewed optimism to the stock, further lifting it for the second consecutive session. The government and LIC plan to jointly offload a 61% stake, marking this as one of the key disinvestment transactions in the current fiscal year.
Crude oil
Russian oil exports fell sharply in November, with a decline of 420,000 barrels per day (kb/d), as more stringent US sanctions and lower prices impacted revenues. According to the International Energy Agency (IEA), Russia’s oil exports dropped to 6.9 mb/d, with Urals crude prices falling by $8.2 per barrel, reaching $43.52 per barrel. The IEA also highlighted that global oil supply decreased by 610 kb/d, with major disruptions in Russia and Venezuela, though Iran’s oil loadings remained strong. India’s oil imports from Russia are expected to stabilize around 1–1.2 mb/d, as other refiners, including Nayara Energy, continue to purchase discounted Russian crude despite the challenges.
Conclusion
The Indian stock market continued its positive momentum today, buoyed by global rallies and sector-specific buying, particularly in metal stocks. Companies like GMDC, PNB Housing Finance, and IDBI Bank saw positive movements following key announcements. Meanwhile, Russian oil exports continue to face challenges, affecting global supply dynamics. As we move forward, it’s crucial to monitor sector performances and global economic signals for sustained growth in the Indian markets.
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