Mumbai: Indian equity markets extended their winning streak for the fourth consecutive session, closing in the green on December 5, 2024, despite a highly volatile trading day. The benchmark indices swung between gains and losses throughout the session, reflecting mixed investor sentiment amid global uncertainties and domestic cues.
The BSE Sensex ended up 250 points at 65,850, while the NSE Nifty 50 gained 80 points, closing at 19,500. The markets were mainly supported by strong performances from defence stocks and Bajaj Auto, which saw renewed investor interest.
Defence stocks led the rally, with major players such as Bharat Forge, Larsen & Toubro, and Hindustan Aeronautics registering solid gains, bolstered by growing expectations of increased government spending in the defence sector. Analysts pointed to ongoing geopolitical tensions and the government's emphasis on self-reliance in defence manufacturing as key drivers for the sector’s bullish performance.
Meanwhile, Bajaj Auto emerged as a key stock in focus, with its shares rising sharply on the back of positive growth projections for its export business and upcoming product launches. The company’s strong fundamentals and expansion into international markets have kept investors optimistic about its future prospects.
The volatility during the day was attributed to mixed global cues, with US markets experiencing a dip overnight, and concerns over inflation and interest rates continuing to weigh on sentiment. However, robust domestic economic data and optimism around key sectors like defence and automotive helped maintain positive momentum.
Experts suggest that the market is likely to remain volatile in the short term, with investors keeping a close eye on global developments, especially in the wake of rising commodity prices and potential changes in central bank policies.
Closing Bell Summary:
- Sensex: +250 points at 65,850
- Nifty 50: +80 points at 19,500
- Defence stocks and Bajaj Auto were the top performers.
As the week progresses, investors will likely continue to monitor sectoral performances and global trends, which could influence market movements in the coming days.