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HomeCURRENT AFFAIRSBUSINESSStock Market Update: Sensex gains 177 points, Nifty settles above 18600, Benchmarks...

Stock Market Update: Sensex gains 177 points, Nifty settles above 18600, Benchmarks rally for 6th day

Stock Market Update: The major equity indices finished the trading day on Tuesday with respectable gains, extending advances for a sixth day. Both the Sensex and the Nifty reached all-time highs. The Nifty ended the day above 18600. Real estate, car, and oil & gas shares fell, while demand was high for FMCG, metal, and pharmaceutical sectors.

The barometer index, the S&P BSE Sensex, increased 177.04 points or 0.28% to 62681.84 according to preliminary closing data. To 18618.05., the Nifty 50 index rose 55.30 points, or 0.30%. In six sessions, both indices increased by 2.5 percent.

Benchmark indices

Today’s intraday highs for the two benchmarks were 18678.10 for the Nifty 50 index and 62887.40 for the Sensex.

The benchmark indices outperformed the overall market. While the S&P BSE Small-Cap index dipped 0.29%, the S&P BSE Mid-Cap index decreased by 0.39 percent.

Market breadth was in the red. 1722 shares increased and 1756 shares decreased on the BSE. 149 shares were unchanged overall.

Initial public offering (IPO)

According to stock market data as of Tuesday at 15:24 IST, Dharmaj Crop Guard’s initial public offering (IPO) received bids for 38610900 shares as opposed to the 8012990 shares that were on sale (29 November 2022). 4.82 people subscribed to the issue.

On Monday (November 28, 2022), the issue went up for bids, and it will end on Wednesday (30 November 2022). The IPO’s price range is set at Rs 216-237 per share. A minimum of 60 equity shares or multiples thereof may be bid on by an investor.

Stock Market Update: Global market

Despite a decline in US markets overnight, shares in Europe traded neutral on Tuesday while most Asian stocks rose.

On Monday, US markets finished substantially lower as investors withdrew amid growing worries about supply chain delays due to protests in China relating to Covid.

James Bullard, president of the St. Louis Federal Reserve, stated on Monday that the Fed should keep raising its benchmark interest rate in the months to come and that the market may be underestimating the possibility that the Fed will become more aggressive.

On Wednesday, Jerome Powell, the chairman of the Federal Reserve, will give a speech at the Brookings Institution on the outlook for the American economy and labour market.

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