ECONOMY ANALYSIS
- Sensex in unchartered territory, Nifty hits 8600
- 10x in 11 years: Indian stocks' mcap crosses Rs 100 lakh cr
- Trai recommends over 15 pc rise in CDMA spectrum reserve price
- India may extend tax breaks for auto firms beyond Dec 31
- Just Dial shares up nearly 4% on RBI move
- Gold extends losses to third day as oil slumps
MARKET ANALYSIS
- Equity benchmarks ended at new record closing high on Friday, the first day of December series, following further fall in crude oil prices after the OPEC decided not to cut output. Hopes of rate cut or indication of rate cut by RBI in monetary policy held on December 2 also pushed market higher in trade today.
- The 30-share BSE Sensex rallied as much as 383.5 points intraday to hit a life high of 28822.37, before closing at 28693.99, up 255.08 points or 0.90 percent compared to previous close.
- The 50-share NSE Nifty crossed another milestone 8600-mark, hitting an all-time high of 8617 but some profit booking in late trade dragged the benchmark index from the day’s highest point. The index closed at 8588.25, up 94.05 points or 1.11 percent.
- For the week, the Sensex and Nifty gained 1.3 percent each. CNX Midcap index rose 1.1 percent while BSE Small Cap index fell 0.5 percent.
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