The Indian equity market opened positively on December 5, 2024, with the S&P BSE SENSEX gaining 207 points to reach 81,163.27, a rise of 0.26%. Meanwhile, the NIFTY50 index climbed 54 points to trade at 24,521.70, marking an increase of 0.22%. This upward trend was driven by strong performances from major stocks like Infosys, Reliance Industries (RIL), Bharti Airtel, and Tata Consultancy Services (TCS).
Among the standout performers, shares of Indus Towers surged by up to 5%, reaching ₹375 per share. This increase followed a significant block deal where 7.92 crore shares, representing 3% of the company’s equity, changed hands at ₹354 each. The deal is part of Vodafone Plc’s strategy to divest a 3% stake in Indus Towers to reduce its debt burden.
In broader market movements, the BSE MidCap and SmallCap indices also reported gains of 0.29% and 0.32%, respectively, indicating a positive sentiment across various sectors. The top gainers on the NIFTY50 included TCS, Bharti Airtel, Infosys, UltraTech Cement, and BPCL, while NTPC and JSW Steel were among the notable losers.
Global influences were also favorable as Wall Street’s major indexes closed at record highs, bolstered by strong tech stock performances and supportive comments from Federal Reserve officials regarding cautious interest rate policies. As investors navigate these developments, attention will remain on upcoming economic indicators and policy announcements that could impact market dynamics further.
