Markets rally for 3rd Day, Sensex up 598 pts led by RIL, PSU banks

The Indian stock indices extended their winning streak to a third session on Tuesday, closing marginally higher, as metal and financial sectors outperformed. Regional market strength and speculation of a 25 basis-point rate cut by the U.S. Fed buoyed investor confidence.At close, the Sensex was up 597.67 points or 0.74 percent at 80,845.75, and the Nifty was up 181.10 points or 0.75 percent at 24,457.15. About 2647 shares advanced, 1190 shares declined, and 99 shares unchanged.
Adani Ports, NTPC, Adani Enterprises, Axis Bank and SBI were the top gainers on the Nifty, while losers included Bharti Airtel, ITC, Hero MotoCorp, HDFC Life, Tata Consumer.On the sectoral front, except FMCG and realty, all other indices ended in the green with Media and PSU Bank indices up more than 2 percent each.The BSE midcap and smallcap indices rose nearly a percent each.
Rupee Close:
On 03 Dec'24,the Indian rupee reached a record low of 84.74 against the US dollar on Tuesday, surpassing Monday's previous low of 84.70, according to estimates. The decline was driven by a strong U.S. dollar and concerns over slowing domestic growth.
Trading Guide:
Market experts have recommended five shares to buy today-Affle (India) Ltd, Igarashi Motors India Ltd, Tata Communications Ltd, RBL Bank Ltd and L&T Finance Ltd.

(Business Correspondent)