NIFTY50 and Sensex close in green, RBI keeps repo rates unchanged at 6.50%; Stock Market Highlights

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

The NIFTY Financial Services index was up 0.9% today. REC Ltd (+3.1%) and Cholamandalam Investment (+2.9%) were the top gainers, whereas IEX (-3.0%) and Bajaj Finance (-1.1%) were the top losers.

The NIFTY Smallcap 100 index closed 1.0% lower. The NIFTY Midcap 100 Index also closed in red, down 0.2%.

The BANK NIFTY (+0.9%) index closed higher as RBI kept its key policy rates unchanged at 6.5%. Gains in large banks, including HDFC Bank(+1.3%), ICICI Bank (+1.2%), Axis Bank (+1.4%) supported the index.

India’s benchmark indices ended higher in the volatile session with NIFTY50 (+0.3%) and Sensex (+0.4%) closing in the green. Out of the NIFTY50 universe, 23 stocks made gains. On the sectoral front, IT (+1.3%) and Financial Services (+0.9%) are the top gainers, while FMCG (-0.9%) and Pharma (-0.8%) are the top losers.

The NIFTY Private Bank index is the top gainer, up 1%.

• Long build up: Ultratech, JSW Steel, Titan, HCL Tech and L&T
• Short build up: BPCL, Bajaj Finance, Tata Steel, ITC and Bharti Airtel

After scaling new heights, the NIFTY50 index trades marginally lower, down 0.05%, while SENSEX holds ground, up 0.1%. On the sectoral front, IT (+0.7%) and Financial Services (+0.3%) are the top gainers, while Oil & Gas (-1.3%) and Pharma (-1.2%) are the top losers. Rate-sensitive sectors like Realty and Bank continue to trade in the green.

International oil prices recovered some ground after witnessing a fall earlier this week. Brent Crude oil futures trades 1.9% higher around $75.4 per barrel today.

However, on a weekly basis, oil futures are headed for loss for the seventh straight week amid concern over global oversupply and weak Chinese demand.