New Delhi. On December 2, the Indian market witnessed a huge jump. At the time of writing the news, the BSE Sensex jumped 456 points and is trading near 80260. At the same time, the Nifty of 50 shares has jumped 156 points and reached the level of 24287. The big thing in this rise is that despite the poor GDP figures that came last week, investors are not refraining from buying.
While experts believe that poor GDP figures can negatively impact the market, VK Vijayakumar, Chief Strategist, Geojit Financial Services, said that a weak % GDP growth of 5.4% could slightly affect the market. However, he has also said that it will not have much impact because the market has already fallen significantly due to poor quarterly results. Today the Sensex closed at 80,248, up 445 points. At the same time, Nifty 50 gained 145 points and closed at 24276.
Sectoral performance: Pharma, auto, and realty shined
In the pharma sector, big stocks like Dr. Reddy's, Sun Pharm, a and Cipla gained, pushing the index up by 1.6%.
The realty sector showed a gain of nearly 2%, where DLF, Godrej Properties, es, and Oberoi Realty performed well.
In the auto sector, Mahindra & Mahindra, Maruti Suzuki, and Tata Motors supported the market with a gain of 1%.
However, the banking sector remained under pressure. The banking index fell 0.5% due to weakness in SBI, HDFC Bank and Kotak Mahindra Bank.
Top Gainers-Top Losers
UltraTech Cement (3.82%), Apollo Hospitals (3.45%), Grasim (3.06%), Shriram Finance (2.56%) and JSW Steel (2.53%) saw the biggest gains. On the other hand, HDFC Life,e (-2.67%), NTPC (-1.46%), Cipla (-1.36%), SBI Life (-1.06%) and Hindustan Unilever (-0.69%) were the biggest losers.
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