Stock Market Today: Sensex, Nifty Close In The Green Zone

Stock Market Today: M&M, IndusInd Bank, Bajaj Finance, Tata Motors and Bajaj Finserv were the top gainers on the BSE Sensex. SBI, Tata Steel, Adani Ports, Zomato and Ultratech were the major losers

Stock Market Today: European stocks inched higher in light holiday trading, reflecting the strength of Asian markets

Source : ABPLIVE AI

Indian markets closed higher on December 27, boosted by gains in Asian equities. The Sensex surged 226.59 points or 0.29 per cent to finish at 78,699.07, while the Nifty gained 63.20 points or 0.27 per cent to end at 23,813.4. M&M, IndusInd Bank, Bajaj Finance, Tata Motors and Bajaj Finserv were the top gainers on the BSE Sensex. SBI, Tata Steel, Adani Ports, Zomato and Ultratech Cement were the major losers.

European stocks inched higher in light holiday trading, reflecting the strength of Asian markets. The Stoxx Europe 600 gained 0.2 per cent as trading resumed after a two-day break. Meanwhile, US equity futures dipped following a lacklustre session on Wall Street, with Treasury yields and the dollar holding steady.

Asian markets rallied, with the MSCI Asia Pacific Index marking its fifth consecutive gain—the longest streak since July. Tokyo stocks surged as the yen weakened to a five-month low of 158 per dollar, following comments from Bank of Japan Governor Kazuo Ueda, which offered no clear guidance on future interest rate decisions, according to Bloomberg.

On the domestic front, the Nifty Auto Index led sectoral gains with a 1 per cent rise, followed by Nifty Healthcare and Nifty Bank, up 0.8 per cent and 0.3 per cent, respectively. On the downside, Nifty Metal and Nifty PSU Bank both fell 1 per cent, while Nifty Oil and Gas dropped 0.7 per cent, and Nifty Realty and Consumer Durables each shed 0.5 per cent.

Speaking on the market performance, Vinod Nair, Head of Research, at Geojit Financial Services, said, “The Christmas week trading ended on a subdued note; a lack of major triggers and caution ahead of the swearing in of the US Republican Party administration continued to impact the sentiment. Meanwhile, the rupee dropped to a new low weighed down by the expectation of fewer Fed rate cuts, a widening trade deficit, and weak economic growth. The auto index outperformed, aided by an expectation of a pickup in volumes in December and comfort in valuation.”

Rupee Movement

The rupee plunged to a record intraday low of 85.80, its steepest drop in nearly two years before a likely intervention by the central bank helped recover some of the losses. It closed 23 paise lower at an all-time low of 85.50 (provisional) against the US dollar on Friday, driven by a strong greenback and heightened month-end demand from banks and importers.