Sensex Today Ends 242 Points Higher | GAIL Jumps 7%, Wipro 6% | Hindalco & Tata Motors Top Gainers

Fri, 22 Dec Closing

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After opening on a firm note, the markets turned extremely volatile and ended the day in green.

Domestic benchmark indices Sensex and Nifty rose marginally on Friday tracking positive cues from global markets. On Sectoral basis, metal, pharma and realty indices led the charge. Even broader markets witnessed healthy buying action.

At the closing bell, the BSE Sensex ended in green by 242 points (up 0.3%).

Meanwhile, the NSE Nifty also closed higher by 94 points (down 0.4%).

GAIL, Wipro and HCL Tech were the top gainers today.

Grasim, SBI and Bajaj Finance, on the other hand, were among the top losers today.

The GIFT Nifty was trading at 21,385, down by 35 points, at the time of writing.

Border indices ended on a positive note with the BSE MidCap index up by 0.7% while the BSE SmallCap index soared by 1%.

All sectoral indices ended in green with stocks in the Metal sector, IT sector, Auto sector and Pharma sector witnessing most of the buying.

Now track the biggest movers of the stock market using stocks to watch today. This should help you keep updated with the latest developments...

Asian share markets ended on a negative note. The Shanghai Composite ended 0.1% in red while the Nikkei ended flat. The Hang Seng closed 1.7% in red.

The rupee is trading at 83.17 against the US$.

Gold prices for the latest contract on MCX are trading 0.5% higher at Rs 62,802 per 10 grams.

Silver for the latest contract on MCX is also trading in green by 0.4% at Rs 75,753 per 1 kg.

Speaking of the stock market, in as many as 92 years, only 4% of all listed equities in the US accounted for all the wealth created there.

Now since we are referring to the American stock markets, we cannot blame the underperformance of 96% stocks on the lack of maturity of the markets.

Nor can we attribute any economic or geopolitical risk as the cause. This is because the performance has been gauged over nearly a century.

Does this apply to Indian stock markets too?

Tanushree Banerjee, co-head of research at Equitymaster, answers this question in the video below.

Infosys 5 Year Deal with LKQ Europe

In news from the IT sector, Infosys has announced a five-year collaboration with LKQ Europe, a leading automotive parts distributor.

The collaboration aims to transform LKQ Europe's business processes by integrating multiple strategic acquisitions, harmonising business processes, improving product availability, and enabling faster delivery to end customers.

Infosys is known for its expertise in ERP deployment and will play an important role in executing this IT-related business transformation.

LKQ Europe's objective is to reduce complexities, boost efficiency, and leverage strengths for a more impactful organisation.

This initiative aligns with Infosys' commitment to long-term collaborations and follows its recent trend of securing extended-duration deals in Europe, including a five-year agreement with electric vehicle (EV) manufacturer Smart Europe GmbH.

The partnership underscores the importance of innovative solutions to streamline operations, support growth, and elevate customer experience in LKQ Europe's position as a leader in the automotive aftermarket industry.

Mr. Jasmeet Singh, EVP & Global Head of Manufacturing at Infosys, expressed the company's commitment to delivering solutions that align with LKQ Europe's goals and drive success in the rapidly evolving automotive sector.

Today, the share is trading 0.5% higher than its previous close and has offered 20% returns in the last 6 months.

For more, check out why IT stocks are rising

Why Bharat Electronics Share Price is Rising

Moving on with the news from the defence sector.

On Friday, 22 December 2023, the share price of Bharat Electronics rose by 2%.

This rally came after the company announced that they have secured an order totalling Rs 26.7 billion (bn) from Goa Shipyard and Garden Reach Shipbuilders & Engineers.

The orders, valued at Rs 17 bn and Rs 9.7 bn, respectively, are for the supply of 14 types of sensors designated for Next Generation Offshore Patrol Vessels (NGOPV).

This initiative falls under the 'Atmanirbhar Bharat' program, fostering the participation of electronic industries and related MSMEs as sub-vendors of BEL.

These orders contribute to the strategic vision of enhancing India's self-reliance in defence manufacturing. The sensors supplied by BEL play a crucial role in the NGOPV's advanced systems, supporting maritime security and defence capabilities.

In addition to the sensor orders, BEL disclosed receiving extra orders worth Rs 861 million (m) for miscellaneous spares and services since its last update on 15 December 2023. With these developments, BEL's cumulative order book for the current fiscal year now stands at Rs 259 bn.

Pharma Stocks rally up to 8% today. Here's why

Moving on to news form the pharma sector, shares of a cutch of pharma and diagnostic companies rallied up to 8% on 22 December to hit their respective 52-week highs.

The rise comes in the wake of a fresh spate of Covid cases. India recorded 640 Covid-19 infections by the new sub-variant called JN.1 on 22 December, bringing the total active cases to 2,997.

The Nifty Pharma index surged over 1% to hit a 52-week high of 16,500.9 during the day.

The stock of Piramal Pharma zoomed over 8 percent to hit a 52-week high of Rs 140.2 on the BSE. It has surged 16 percent so far, largely in line with the benchmark Sensex.

AstraZeneca Pharma shares also surged over 8% to a 52-week high of Rs 5,193.8. The rise comes a day after the company announced that it will launch Trastuzumab Deruxtecan, also known as Enhertu, which is used in the treatment of HER2-positive breast cancer, in January 2024.

And to know what's moving the Indian stock markets today, check out the most recent share market updates here.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

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INDICESBSE (Rs 0 to 1)BSE (Rs 1 to 2)BSE (Rs 2 to 4)BSE (Rs 4 to 10)BSE (Rs 10 to 20)BSE (Above Rs 20)BSE - AllBSE-30BSE-100BSE-200BSE-500BSE AutoBSE BankexBSE Capital GoodsBSE Consumer DurablesBSE FMCGBSE HealthcareBSE ITBSE MetalBSE Oil & GasBSE PSUBSE TeckBSE RealtyBSE PowerBSE A GroupBSE B GroupBSE Mid-CapBSE Small-CapBSE Basic MaterialsBSE Consumer DiscretionaryBSE IndustrialsBSE UtilitiesBSE Sensex 50BSE Sensex Next 50BSE Bharat 22BSE 150 MidCapBSE 250 SmallCapBSE 250 LargeMidCapBSE 400 MidSmallCapBSE AllCapBSE LargeCapBSE SmallCap SelectBSE 100 LargeCap TMCBSE InfraBSE ManufacturingBSE CPSEBSE Private BankBSE Diversified FinancialsBSE MomentumBSE Low VolatilityBSE QualityBSE Enhanced ValueBSE Divident StabilityS&P BSE IPOBSE SMEIPOBSE 100 ESGBSE CarbonexBSE GreenexNSE (Rs 0 to 10)NSE (Rs 10 to 20)NSE (Above Rs 20)NSE - AllNSE-50NSE ITNSE Nifty Midcap 50NSE JR. NiftyNSE Bank NiftyNIFTY Next 50NIFTY 100NIFTY 200NIFTY 500NIFTY MidCap 100NIFTY SmallCap 250NIFTY SmallCap 50NIFTY SmallCap 100NIFTY LargeMidCap 250NIFTY MidSmallCap 400NIFTY AutoNIFTY Consumer DurablesNIFTY FinanceNIFTY FMCGNIFTY MediaNIFTY MetalNIFTY PharmaNIFTY Private BankNIFTY PSU BankNIFTY RealtyNIFTY Oil & GasNIFTY SME EmergeNIFTY CommoditiesNIFTY CPSENIFTY EnergyNIFTY India ConsumptionNIFTY InfraNIFTY MNCNIFTY PSENIFTY Serv SectorNIFTY100 Liquid 15NIFTY Midcap Liquid 15NIFTY Midcap 150 Quality 50NIFTY50 Equal WeightNIFTY100 Equal WeightNIFTY100 Low Volatility 30NIFTY100 Alpha 30NIFTY Alpha 50NIFTY Dividend Opportunities 50NIFTY High Beta 50NIFTY Low Volatility 50NIFTY200 Quality 30NIFTY 500 Value 50NIFTY 100 Quality 30SECTORSAgricultureAirlinesAluminiumAsset Management CompaniesAutomobilesAuto AncillariesBanks (Private)Banks (PSU)BankingCementChemicalsDefenceDiagnosticsDronesEngineeringElectric VehicleElectric Vehicle BatteryEnergy SourcesESGEthanolFertilizersFintechFMCGFoodGreen HydrogenHotelsInfrastructureInsuranceInvestment and FinanceInvITIT (Large)IT (Others)LogisticsMediaMetalMiningIndia's Big Tech StocksIndian PharmaMNC PharmaPSUPaintPaperPlasticPowerRating AgenciesReal EstateREITsRenewable EnergyRetailingSemiconductorShippingSteelSugarSupply ChainTelecomTextilesTravel Support Services

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Indian Share Market Update: Top Gainers and Losers