Markets rally to one-month high: Sensex rises 445 pts

The Indian markets traded higher for a second straight session on Monday, with the Nifty crossing 24,300 to reach a one-month high, driven by sector-wide buying, particularly in realty, media, and metals. At close, the Sensex was up 445.29 points or 0.56 percent at 80,248.08, and the Nifty was up 144.95 points or 0.6 percent at 24,276.05.
UltraTech Cement, Apollo Hospitals, Grasim Industries, JSW Steel and Shriram Finance were the biggest gainers on the Nifty, while losers included HDFC Life, Cipla, NTPC, SBI Life Insurance, Britannia Industries.
On the sectoral front, all the sectoral indices ended in the green with realty, pharma, metal, IT, auto, media rising 1-3 percent each.The BSE midcap and small cap indices rose 1 percent each.
Rupee Close:
On 02 Dec'24,the Indian rupee depreciated 13 paise to close at an all-time low of 84.73  against the US dollar on Monday, on disappointing macroeconomic data and broad strength of the American currency in the overseas markets.Forex traders reportedly stated Asian currencies were down after Trump Rhetoric on BRICs currency, as the move may further strengthen the greenback.
Trading Guide:
Vinod Nair, Head of Research, Geojit Financial Services reportedly quoted as saying, fespite a slump in the Q2 growth rate, the market maintained a positive bias as the core sector output in October shows signs of recovery. Slowing earnings growth is already factored in the market and mid & small caps are rebounding. However, investors stay marginally cautious ahead of RBI policy this week due to the risk of a cut in GDP forecast. The current inflation dynamics are not favorable for a rate cut in the short-term and the RBI is likely to turn more realistic on its growth projection for FY25.  
Market experts have recommended five shares to buy today-Capacite Infraprojects Ltd, Pitti Engineering Ltd, Punjab National Bank Ltd, Life Insurance Corporation of India and Hindustan Unilever Ltd.

(Business Correspondent)