Share Market Today: The Indian stock market benchmark indices, Sensex and Nifty 50, settled down in green on Tuesday, December 3, 2024. The Sensex (index with top 30 firms) surged 597.67 points to settle at 80,845.75 on Tuesday. Nifty50 (index with top 50 firms) also rose 181.10 points to settle at 24,457.15 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. These investors pulled out Rs 990 crore from the Indian equities this month so far.
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 in the last couple of trading sessions.
Foreign Capital: Foreign investors pulled out Rs 21,612 crore from Indian equities in November, but the good news is that the outflow has slowed down significantly since then, indicating a calming of the stock market.
The surge was further bolstered by positive domestic market conditions and a decline in crude oil prices. According to experts, the impact of weak economic data was already factored in, considering previous corrections and underwhelming corporate earnings.
Market attention has now shifted to the upcoming monetary policy announcement by the Reserve Bank of India (RBI), scheduled for later this week.
Stocks In Focus
Based on BSE data, here’s a snapshot of how key stocks performed in Tuesday’s trading session.
| Company | Price Change | Closing Price (Rs) |
|---|---|---|
| ICICI Bank | 0.27% Up | 1,307.40 |
| Tata Motors | 1.42% Up | 801.15 |
| TCS (Tata Consultancy Services) | 0.67% Up | 4,301.45 |
| Reliance Industries (RIL) | 1.09% Up | 1,323.35 |
| JSW Steel | 0.60% Up | 995.15 |
| HCL Technologies | 0.95% Up | 1,888.45 |
| Tech Mahindra | 0.21% Up | 1,749.45 |
| Adani Ports | 6.02% Up | 1,288.80 |
| ITC | 1.02% Down | 472.30 |
| HDFC Bank | 1.24% Up | 1,826.85 |
On Tuesday, 25 out of 30 Sensex constituents ended in the green, while 5 Sensex stocks closed in the red.
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