Mid-market update: NIFTY50 jumps 150 points, SENSEX near 80,800 mark; Adani ports, ONGC and Cipla among top gainers

Domestic equity indices added more gains in the mid-market session as market participants indulged in enlarging their positions. Sensex surged over 500 points, while Nifty gained over 150 points. Meanwhile, broader indices were also trading in the green, with the BSE Midcap index and the Small-cap index gaining 0.65-0.95%.Positive cues from the global markets supported domestic sentiments.

On the global front, Asian markets were trading mostly in green as traders remained optimistic about an interest rate cut by the US Fed in December after remarks from Fed Governor Christopher Waller that he is leaning toward a December rate cut.

In a stock-specific development, Safari Industries surged after the company’s wholly-owned subsidiary, Safari Manufacturing, successfully commenced its commercial production/manufacturing of luggage on December 2, 2024, at its newly set-up greenfield manufacturing facility in Jaipur, Rajasthan.

The SENSEX traded at 80794.40, (+546.32 points or 0.68% after trading in a range of 80244.78 and 80828.85. The index had 22 stocks advancing and 8 stocks declining.

The broader indices were trading in green; the BSE Mid cap index was (+0.68%), while the Small cap index was (+0.94%).

The top gaining sectoral indices on the BSE were PSU (+1.23%), Bankex (+1.22%), Industrials (+1.21%), Oil & Gas (+1.16%), and Capital Goods (+1.08%), while FMCG (-0.67%), Realty (-0.25%), and Consumer Durables (-0.12%) were few losing indices on the BSE.

The NIFTY is currently trading at 24432.05, (+156.00 points or 0.64% after trading between 24280.00 and 24439.15. The index had 35 stocks advancing and 15 stocks declining.

Asian markets were trading mostly in green; Hang Seng advanced 12.04 points or 0.06% to 19,562.33, Jakarta Composite gained 102.18 points or 1.43% to 7,149.17, Straits Times rose 41.12 points or 1.1% to 3,792.47, KOSPI increased 44.91 points or 1.83% to 2,499.39, Nikkei 225 surged 822.41 points or 2.14% to 39,335.43 and Taiwan Weighted added 290.53 points or 1.28% to 23,027.46. However, Shanghai Composite weakened 9.44 points or 0.28% to 3,354.54.