The Sensex rose 970 points, or 1.4 percent to close at 71,484, while the Nifty ended the session at 21,457, with a gain of 274 points or 1.3 percent.
The latest up move was underpinned by robust inflows from foreign portfolio investors (FPIs) and sharp rally in technology stocks.
FPIS poured 9,239 crore in domestic stocks, while domestic investors took money off the table to the tune of ₹3,077 crore. Infosys and Tata Consultancy Services (TCS) rose 5 per cent each and made a 418-point contribution to Sensex gains.
For the week, the Nifty advanced 2.3 percent. In the past seven weeks, the 50-share index has risen 12.3 percent. This is its longest weekly advance since December 2020, when it had jumped 18 percent after seven straight weeks of gains.
So far in December, the Sensex has gained 6.7 percent, while the Nifty has advanced 6.5 percent. If they hold on to the gains, this will be their best monthly advance since July 2022.
This story is from the December 16, 2023 edition of Business Standard.
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This story is from the December 16, 2023 edition of Business Standard.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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