Stock market benchmarks, the Sensex and Nifty 50, ended higher for the second consecutive session on Friday, December 12, tracking positive global cues after the US Fed cut rates. The Sensex rose 450 points, or 0.53%, to 85,267.66 while the Nifty 50 gained 148 points, or 0.57%, to 26,046.95. The BSE Midcap and Smallcap indices rose 1.14% and 0.65%, respectively.
The overall market capitalisation of BSE-listed firms rose to over ₹470 lakh crore from ₹466.6 lakh crore in the previous session, making investors richer by more than ₹3 lakh crore in a single session.
Indian stock market: 10 key highlights from the day
1. Why is the Indian stock market rising?
Positive global cues appear to have influenced market sentiment back home, even as the rupee hit record lows and foreign investors continue to sell Indian stocks.
“Global risk appetite improved after the US Fed rate cut, boosting liquidity optimism and lifting domestic equities despite the rupee hitting record lows and continued FII outflows,” said Vinod Nair, Head of Research, Geojit Investments Limited.
“India’s November CPI, due today, is expected to stay within RBI’s comfort zone, reinforcing policy stability expectations. Near-term focus: rupee levels, FII flows, and trade talks, with global cues from BoJ (likely to hike), ECB, and BoE policy signals,” said Nair.
(This is a developing story. Please check back for fresh updates.)
