Sensex bounces back 484 pts from day’s low ,ends 34 pts up ahead of Fed outcome; Nifty above 20,900

Ira Singh
Khabar Khabaron Ki,13 Dec’23

The Indian equity market indices ended with marginal gains in the highly volatile session on Wednesday ,following the domestic and US inflation data that re-ignited concerns of delay in rate cuts.At close, the Sensex was up 33.57 points or 0.05 percent at 69,584.60, and the Nifty was up 19.95 points or 0.10 percent at 20,926.35.

Stocks and Sectors

NTPC, Hero MotoCorp, Power Grid Corporation, Eicher Motors and Adani Ports were the top gainers on the Nifty, while losers included TCS, Infosys, Bajaj Finserv, HDFC Life and Axis Bank.

On the sectoral front,auto, power, pharma, capital goods, and realty are up 1 percent each, while the Information Technology index is down 1 percent.

Broader indices outperformed the main indices with the BSE Midcap index rising 1 percent to touch a fresh record high, while the BSE Smallcap index added 0.7 percent.

On 13 Dec’23,the Indian rupee depreciated by 1 paisa to close at 83.38 against the US dollar in early trade on Wednesday, tracking a stronger American currency against major overseas rivals.According to forex analysts, a steep fall in crude oil prices from above USD 76 per barrel to the level of USD 73 a barrel provided support, but the Indian currency was weighed down by the muted trend in equity markets on the back of rising retail inflation in the country.

Experts Take:
Market experts have recommended four stocks to buy for Wednesday- LIC, Pidilite Industries, NAM-India, Apollo Hospital.