28-Dec-2023
2 mins read
The Indian stock market commenced the day with an impressive performance, setting new records for the Sensex and Nifty indices. The Sensex jumped by 275.62 points, reaching an extraordinarily high of 72,323.34, while the Nifty also showcased a remarkable increase, climbing by 75.25 points to begin at 21,737.70.
Performance of Individual Stocks
Most companies witnessed positive movement in the Nifty index, with 41 advancing and 9 declining. Leaders in gains included JSW Steel, NTPC, Apollo Hospital, BPCL, and Bajaj Finserv. Conversely, Bajaj Auto, Asian Paints, Ultra Cement, Britannia, and Infosys were among the top losers.
Gold Prices Trending Up
Aggarwal also remarked on the gold market, observing that gold prices have reached a three-week peak. This uptick is attributed to traders investing in zero-yield bullion, expecting future US interest-rate cuts. The decline in the dollar and bond yields has also strengthened gold prices.
Market Outlook
The market trends, characterised by higher tops and bottoms, suggest a confident movement towards new highs. However, investors are advised to exercise caution given the lack of clear signs of a market reversal at these heightened levels.