NIFTY50 rises to record high, Sensex gains 492 points, Flair Writing lists at 64% premium; Stock Market Highlights

Thank you, readers! That's all from Upstox.com's live market coverage on 1 December 2023. We’ll be back with our live coverage at 8:00 am on Monday.

The NIFTY Smallcap 100 index closed 1.1% higher. The NIFTY Midcap 100 Index closed in green, up 0.6%.

The NIFTY Financial Services index was up 0.7% today. PFC (+9.3%) REC (+7.5%) and Axis Bank (+2.6%) were the top gainers.

The BANK NIFTY (+0.6%) index closed in the green today. Gains in ICICI Bank (+1.3%), Axis Bank (+2.6%) and SBI (+1.2%) supported the index.

The Indian markets touched fresh highs today as investors cheered robust Q2 economic growth numbers. The NIFTY50 index (+0.6%) closed above the 20,250 mark, while Sensex (+0.7%) was up 492 points. All NIFTY sectoral indices closed in the green except Auto (-0.3%). Media and PSU Bank were the top gainers.

The pharma company has received approval from the US drug regulator for Ivabradine tablets. This drug is used to reduce the risk of hospitalisation for worsening heart failure in adult patients. These tablets will be manufactured at the company’s Ahmedabad facility in Gujarat.

Meanwhile, shares of Zydus Life are trading 0.4% higher.

5 December expiry

• Max call OI (resistance) : 20,200
• Max put OI (support) : 20,100
• Max pain: 20,200
• PCR: 1.2

Source: BSE

Shares of India’s largest multiplex are on an upward trend. PVR Inox’s stock is up 5% this week.

Reasons for the rally:

• Occupancy expected to improve due to mega movie releases in December 2023
• Big box office releases this month – Animal, Dunki , Salaar Part 1, Sam Bahadur, Aquaman and the Lost Kingdom to release this month
• Profitability could improve on the back of revival in ad income
• Exiting less profitable properties in FY24