Stock market traded in the green, Adani group stocks tumble

The Indian equity stock market hit fresh record highs in Friday's trade on gains in IT stocks and index heavyweight HDFC Bank. Nifty50 topped the 21,000 for the first time while Sensex was close to 70,000.The bulls defied weak Asian cues to trend higher. Weak oil prices and optimism in US stocks overnight helped sentiments back home.At close,the Sensex was up 329.91 points or 0.47 percent at 69,853.37, and the Nifty was up 77.15 points or 0.37 percent at 20,974.75. About 1386 shares advanced, 1835 shares declined, and 76 shares unchanged.
Stocks and Sectors
Adani Group stocks traded with sharp cuts on December 8, falling up to 6 percent after clocking fresh gains over the previous sessions. The frontline indices hit new lifetime highs, with the NSE Nifty 50 topping the key 21,000 level at 21,006.10, while the Sensex hit a high of 69,888.33.
On the sectoral front, except capital goods and information technology all other indices traded in the red with auto, oil &gas and power down 1-2 percent. BSE midcap and smallcap indices down 0.5 percent each.
On 08 Dec'23 ,the Indian rupee appreciated two paise to close at 83.34 against the U.S. dollar in early trade on Friday tracking a positive trend in domestic equities ahead of the Reserve Bank of India's monetary policy decision.
Forex traders said investors are awaiting cues from the Reserve Bank of India's monetary policy decision. The Reserve Bank is likely to maintain the status quo on the short-term interest rate in its monetary policy review.
Experts Take:
Market experts have recommended four stocks to buy for Friday-Kotak Mahindra Bank, NAM-India, JSW Energy and Zydus Life.

(Writer is a Finance Research Analyst, based in Gandhinagar, Gujarat)