MARKET UPDATE: Sensex rose over 350 points to 63,500, and the Nifty gained nearly 100 points to 18,850
Published On: Thursday, December 1, 2022 | By: Team KnowMyStock
Opening bell: Positive start was observed in Dalal Street today(1 December 2022) led by upbeat global market sentiment following US Fed Chair Powell's remarks that the central bank could begin undertaking smaller rate hikes from December. The BSE Sensex rose over 350 points to 63,500, and the NSE Nifty50 gained nearly 100 points to 18,850. The IT pack led gains on the Sensex with Tech M, Infosys, Wipro, HCL Tech, and TCS rising 1-2 percent. On the downside, Asian Paints, HUL, Maruti, and M&M were the handful of losers, down up to 0.4 percent.
The broader markets, meanwhile, outperformed the benchmarks. The BSE MidCap and SmallCap indices rose over 1 per cent each.
Sectro wise, Nifty IT surged 2 per cent, followed by a 1 per cent gain in the metal index. On the downside, Auto and FMCG pockets were the sole losers.
Among stocks, Vodafone Idea was down around 1 per cent after reports said the company has sought a loan of up to Rs 16,000 crore from SBI.
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