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HomeBusinessSensex Ends On Flat Note, Nifty Stays Above 17,200

Sensex Ends On Flat Note, Nifty Stays Above 17,200

India’s benchmark indices ended the December series on a flat note on Thursday. Sensex rose 12.17 points or 0.02% to end the day at 57,794.32, and the Nifty was down 9.65 points or 0.06% at 17,203.95.

NTPC, IndusInd Bank, HCL Tech, Titan, and Cipla were among the top gainers on Nifty, while Bajaj Auto, Reliance, JSW Steel, Tata Steel, and Maruti fell.

IT index rose 1% and Pharma gained 0.44% while metal, oil & gas, banking indices ended lower. Broader markets were mixed with a negative bias.

On Sensex, 15 stocks of the total 30 ended in the green. NTPC was the top gainer.

European shares inched higher on Thursday on hopes fresh coronavirus-related curbs and restrictions may not be needed going into the new year, even as a surge in COVID-19 cases due to the Omicron variant kept a lid on gains.

The pan-European STOXX 600 rose 0.2%, after edging 0.1% lower on Wednesday, with the tech sector and defensives, including healthcare and real estate , in the lead.

Cars24, an e-commerce platform for pre-owned vehicles, has collaborated with Bajaj Finance to facilitate a quick and streamlined used car financing.

This move follows a Series G funding round announced in December that saw Cars24 raise $400 million. As per the release, the consumer demand for pre-owned vehicles is skyrocketing, but the consumer financing penetration in the Indian used cars industry stands at only ~15%.

After nearly 8 years of consolidation, Hindustan Copper shares made a strong upmove in 2021. The stock has given multibagger return of over 100% this year (year-to-date). It appears that the multibagger stock might continue to enjoy the spotlight in 2022 as well, thanks to improving fundamentals and strong tailwinds for the copper sector, expects Ventura Securities.

EVs consume 3-4 times more copper as compared to Internal Combustion Engine (ICE) vehicles. Globally, EV and energy transition have been the largest demand drivers in the medium to long term. Moreover, copper is also used in the EV infrastructure.

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