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Indian stock markets rise on hopes of broad-based recovery

By Munikoti Rochan

11:49, 9 December 2021

The BSE building in Mumbai, India
BSE building in Mumbai, India – Photo: Shutterstock

Indian shares gained a third straight session to finish higher on Thursday as concerns about the Omicron virus threat eased after the central bank’s comment on a broad-based recovery in activity.

Benchmark indices advanced 0.27% each through the day. While the National Stock Exchange’s (NSE) Nifty50 ended at 17,516.85 points, the S&P BSE Sensex closed at 58,807.13 points.

“The recovery in domestic economic activity is turning increasingly broad-based, with the expanding vaccination coverage, a slump in fresh Covid-19 cases and rapid normalisation of mobility,” the nation’s central bank noted on Wednesday.

“Rural demand is expected to remain resilient. The spurt in contact-intensive activities and pent-up demand will continue to bolster urban demand,” added the Reserve Bank of India.

  • Media companies were the top performers with the Nifty Media index, comprised of 10 stocks including Network18 Media & Investments, jumping 3.57%
  • The Nifty Fast Moving Consumer Goods (FMCG) index, a basket of 15 stocks including Godrej Consumer Products, climbed 1.44%

The Indian rupee was trading 0.59% lower to the US dollar, to INR75.82 at 17:00 hours local time (UTC+5:30).

On the Nifty50

Shares of cigarette maker ITC, engineering-to-software conglomerate Larsen & Toubro (LT) and coatings major Asian Paints were the top gainers, adding 4.91%, 3.01% and 2.20% respectively.

The country’s largest private sector lender HDFC Bank, watches and jewellery retailer Titan Company (TITAN) and food products major Nestle India were the top losers, shedding 1.79%, 1.35% and 1.12% respectively.


146.85 Price
-0.960% 1D Chg, %
Long position overnight fee 0.0113%
Short position overnight fee -0.0195%
Overnight fee time 22:00 (UTC)
Spread 0.090


0.67 Price
+1.060% 1D Chg, %
Long position overnight fee -0.0073%
Short position overnight fee -0.0009%
Overnight fee time 22:00 (UTC)
Spread 0.00040


1.09 Price
-0.050% 1D Chg, %
Long position overnight fee -0.0080%
Short position overnight fee -0.0003%
Overnight fee time 22:00 (UTC)
Spread 0.00070


1.27 Price
+0.640% 1D Chg, %
Long position overnight fee -0.0046%
Short position overnight fee -0.0036%
Overnight fee time 22:00 (UTC)
Spread 0.00170

On the Sensex

Stock in ITC, LT and Asian Paints were the biggest gainers, adding 4.6%, 3.06% and 2.23% respectively.

HDFC Bank, TITAN and Nestle India were the biggest losers, shedding 1.67%, 1.32% and 0.99% respectively.

HCLTECH slides

HCL Technologies finished 0.31% lower at INR1,168 after the company said it will partner with Germany’s largest co-operative lender apoBank to buy a German IT consulting firm. The software exporter has a market capitalisation of around INR3.17trn ($41.8bn) on the NSE, where its shares have gained some 23% so far this year.

RBI tightening

The Reserve Bank of India’s (RBI) monetary policy committee (MPC) “voted to keep policy rates on hold (on 8 December), opting only to introduce further small measures to withdraw liquidity from the banking sector,” said Darren Aw, Asia economist at London-based research firm Capital Economics.

“With the RBI still focusing primarily on supporting the fragile economic recovery, we continue to think that policy rates will be left on hold for a few more months yet,” he wrote in an 8 December note to clients.

Read more: India’s Shriram Properties raises .5m from anchor investors

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The difference between trading assets and CFDs
The main difference between CFD trading and trading assets, such as commodities and stocks, is that you don’t own the underlying asset when you trade on a CFD.
You can still benefit if the market moves in your favour, or make a loss if it moves against you. However, with traditional trading you enter a contract to exchange the legal ownership of the individual shares or the commodities for money, and you own this until you sell it again.
CFDs are leveraged products, which means that you only need to deposit a percentage of the full value of the CFD trade in order to open a position. But with traditional trading, you buy the assets for the full amount. In the UK, there is no stamp duty on CFD trading, but there is when you buy stocks, for example.
CFDs attract overnight costs to hold the trades (unless you use 1-1 leverage), which makes them more suited to short-term trading opportunities. Stocks and commodities are more normally bought and held for longer. You might also pay a broker commission or fees when buying and selling assets direct and you’d need somewhere to store them safely.
Capital Com is an execution-only service provider. The material provided on this website is for information purposes only and should not be understood as an investment advice. Any opinion that may be provided on this page does not constitute a recommendation by Capital Com or its agents. We do not make any representations or warranty on the accuracy or completeness of the information that is provided on this page. If you rely on the information on this page then you do so entirely on your own risk.

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