Closing Bell: Market extends gain as Sensex soars by 1016 points, Nifty ends above 17400

Closing Bell: Market extends gain as Sensex soars by 1016 points, Nifty ends above 17400

by 5paisa Research Team Last Updated: Dec 08, 2021 - 04:20 pm 43.8k Views
Listen icon

Domestic equity bourses Sensex and Nifty soared amid broad-based gains on Wednesday after the RBI kept key interest rates on hold and decided to stay accommodative.

Equity benchmarks extended gains for a second day after the Reserve Bank of India's Monetary Policy Committee held the repo rate at a record low of 4% and maintained an accommodative policy stance to support growth for as long as necessary. During today's trading session, the Sensex surged as much as 1,016 points and Nifty index moved above its important psychological level of 17,450 led by gains in banking, financial services and information technology names.

At the closing bell on December 8, the Sensex was up 1,016.03 points or 1.76% at 58,649.68, and the Nifty was up 293.10 points or 1.71% at 17,469.80. On the market depth, around 2270 shares have advanced, 941 shares declined, and 121 shares remain unchanged.

Among the top gainers on the BSE were Bajaj Finance, Maruti Suzuki, SBI, Asian Paints and Bajaj Finserv. Top losers of the day were Kotak Mahindra Bank and Power Grid Corporation.

In today's trading session all the sectoral indices ended in the green, with PSU bank and auto indices rising by 2% each. In the broader markets, BSE midcap and smallcap indices rose over 1% each.

All eyes today were on the RBI policy meet. RBI's benchmark interest (repo) rate currently stands at 4% and the reverse repo rate is at 3.35%. The central bank has kept the key lending rates unchanged for the ninth time.

RBI Governor Shaktikanta Das commented that the MPC voted unanimously to hold rates and maintain an accommodative stance as long as necessary to push growth while ensuring inflation remains under control.

Share Market Today


How do you rate this article?

Start Investing in 5 mins*

Rs. 20 Flat Per Order | 0% Brokerage

378X91-D3

About the Author

Our research team is composed of some highly qualified research professionals, their expertise range across sectors.


Enjoy 0%* Brokerage with 5paisa
Resend OTP
Please Enter OTP
Mobile No. belongs to

By proceeding, you agree to the T&C.

Latest News
Trust Fintech IPO Subscribed 108.63 times

Trust Fintech IPO is book-built issue of ₹63.45 crores, consisting entirely of fresh issue shares totalling 62.82 lakh. Trust Fintech IPO commenced its subscription period on March 26, 2024, & concludes today, March 28, 2024.

Aspire & Innovative IPO Subscribed 15.17 times

Aspire & Innovative IPO is a book built issue of Rs 21.97 crores. The issue comprises entirely a fresh issue of 40.68 lakh shares. Aspire & Innovative IPO opens for subscription on March 26, 2024, and closes on March 28, 2024. The allotment for the Aspire & Innovative IPO is expected to be finalized on Monday, April 1, 2024.

Blue Pebble IPO Subscribed 56.32 times

Blue Pebble IPO, valued at ₹18.14 crores, comprises fresh issue of 10.8 lakh shares. Commencing subscription on March 26, 2024, Blue Pebble IPO is set to conclude on March 28, 2024. Allotment process is scheduled to be finalized by Monday, April 1, 2024. Following this, IPO is slated to debut on NSE SME, with tentative listing date of Wednesday, April 3, 2024.