Share Market Today: The Indian stock market benchmark indices, Sensex and Nifty 50, settled down in green on Monday, December 2, 2024. The Sensex (index with top 30 firms) surged 445.29 points to settle at 80,248.08 on Monday. Nifty50 (index with top 50 firms) also rose 146.15 points to settle at 24,277.25 points.
Additionally, foreign investors withdrew an amount of Rs 21,612 crore from Indian equities in November. These investors had pulled out Rs 94,017 crore from Indian stock market in October 2024.
Share Market Today: What Drove the Rally?
Adani Group Stocks: After facing a significant decline last week due to bribery and fraud allegations by US authorities, Adani Group stocks have staged a strong recovery. The company has vehemently denied the allegations, labelling them as “baseless”. This rebuttal has led to a resurgence in investor confidence, with the shares regaining traction and contributing to the overall market uptrend.
Foreign Capital: Foreign investors withdrew an amount of Rs 21,612 crore from Indian equities in November. However, their outflow has been limited now, showing the ease in the stock market.
Additionally, the surge was supported by favourable domestic market conditions and a downward correction in crude oil prices.
Stocks In Focus
Based on BSE data, here’s a snapshot of how key stocks performed in Monday’s trading session.
| Company | Price Change | Closing Price (Rs) |
|---|---|---|
| ICICI Bank | 0.25% Up | 1,303.90 |
| Tata Motors | 0.39% Up | 789.95 |
| TCS (Tata Consultancy Services) | 0.01% Down | 4,272.95 |
| Reliance Industries (RIL) | 1.28% Up | 1,309.05 |
| JSW Steel | 2.47% Up | 990.05 |
| HCL Technologies | 1.18% Up | 1,870.70 |
| Tech Mahindra | 1.81% Up | 1,742.55 |
| Adani Ports | 2.18% Up | 1,215.60 |
| ITC | 0.02% Up | 477.15 |
| HDFC Bank | 0.38% Up | 1,804.55 |
On Monday, 21 out of 30 Sensex constituents ended in the green, while 9 Sensex stocks closed in the red.
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