Sensex leaps 493 pts, Nifty ends at record closing high of 20,268

Closing Bell on Friday, December 1, 2023: The Nifty 50 index scaled a new peak of 20,291.55 in the intraday trade

3:46 PM

Comment :: 'Nifty now eyeing 20,500'

The rotational buying across the key sectors is helping the index to inch higher, and we are now eyeing 20,500 in Nifty ahead.

Apart from the domestic factors, upbeat global cues, especially the performance of the US markets, are further adding to the positivity.

We thus recommend continuing with a "buy on dips" approach with a focus on stock selection. 

Views by: Ajit Mishra, SVP - Technical Research, Religare Broking

3:45 PM

Comment :: 'Rich valuations capping upside in auto stocks despite festive cheer in Nov sales'

Better-than-estimated India GDP numbers will raise the growth outlook for FY24 and provide cheer for the market to continue its upward momentum. The capex by the government and the pickup in manufacturing activity, led the capital goods and infra stocks to outperform.

The global market, too, rallied on hopes that the ECB has completed its rate-hiking cycle on the back of easing inflation and ahead of the FED chair speech today.

Oil prices continued to move on the downside despite the OPEC+ supply cut, which will support the H2FY24 operating margins of the corporations.

The auto sales numbers witnessed a festival cheer, while the premium valuation restricted the upside potential.

Views by: Vinod Nair, Head of Research at Geojit Financial Services

3:43 PM

Currency check :: Rupee ends at 83.29/$ against Thursday’s close of 83.40/$

3:42 PM

SmallCap Heatmap :: Index close 0.48% higher; check top gainers and losers

3:41 PM

MidCap Heatmap :: Index hits record high of 34,631 intraday

>> Index ends 0.96% higher at 34,587.

3:39 PM

Nifty Heatmap :: 29 of 50 index stocks close in the positive zone

3:38 PM

CLOSING BELL :: Nifty tops 20,250

3:37 PM

CLOSING BELL :: Sensex settles nearly 500 pts higher

3:28 PM

Nov Auto sales:: TVS Motor sells 364,231 units, up 31% YoY

Two-Wheeler

Total two-wheelers registered a growth of 34% with sales increasing from 263,642 units in November 2022 to 352,103 units in November 2023. 

Electric Vehicle

The Company sold 16,782 units in November 2023 as against sales of 10,056 units in November 2022.

International Business

The Company's total exports registered sales of 75,203 units in November 2023 as against 84,134 units registered in November 2022. 

Three-Wheeler

Three-wheeler of the Company registered sales of 12,128 units in November 2023 as against 13,481 units in November 2022.

Click here for more detals
 

3:17 PM

CIL's coal output rises 11.5% to 460 mn tonnes during April-November

All the seven arms of CIL have registered growth with two of them -- BCCL and NCL -- achieving their respective progressive targets. During the last month CIL's production increased by 8.7 per cent to 66 MT from 60.7 MT in the corresponding month of previous fiscal. READ MORE
 

3:07 PM

40% wealth and pension funds prefer India over China, shows study

Almost 40% of investors chose India as the most attractive emerging market, while less than a quarter selected China in a survey by London-based think-tank Official Monetary and Financial Institutions Forum. It included 100 funds managing $26 trillion in assets, including Singapore’s GIC Pte. and Canada’s Caisse de Depot et Placement du Quebec. READ MORE

2:57 PM

Raymond independent directors hire lawyer to protect minority shareholders; stock jumps 4%

Company's interests 'paramount consideration', they say as fight between chairman Gautam Singhania and his estranged wife pulls down market value. READ MORE

2:47 PM

Aether Industries ordered to shut production at blast affected site; stock up 2%

A storage tank blast killed seven people and injured 24 at one of the company's plants in the port city in Gujarat state, Aether Industries confirmed on Thursday. READ MORE

2:37 PM

Stock of this EMS player hit 52-week high today; stock up 41% in 6 months

Shares of Dixon Technologies sprinted 9.5 per cent and hit a fresh 52-week high of Rs 6,034.75 apiece on the BSE in Friday's intraday session supported by volume uptick. READ MORE

2:25 PM

Tata Motors November sales: Overall sales drop 1% YoY to 72,647 units

Tata Motors registered a 1 per cent drop in its total domestic sales for November 2023 on year-on-year (Y-o-Y) basis. In total, the company sold 72,647 vehicles in November 2023 in India, compared to 73,467 units sold during the same period last year, the company said in a regulatory filing with the BSE.

2:15 PM

Sensex soars nearly 1,400 points this week; Here's what led to the rally

Equity markets staged a swift rally this week with the BSE Sensex index soaring 1,383 points and BSE's market-cap topping the historic $4 trillion-mark for the first time. READ MORE

2:01 PM

Foreign flows into Indian bonds hit 6-year high ahead of index inclusion

Foreign portfolio investors bought a net 127.2 billion rupees ($1.53 billion) of bonds in November, the highest since June 2017, data from Clearing Corp of India showed. READ MORE

1:50 PM

Asian Market Update:: A mixed outing

Source: Yahoo Finance

1:38 PM

ALERT:: Entertainment Network to buy Gaana; stock down 2%

Entertainment Network in an exchange filing today said it has singed an agreement to purchase Gaana - a music broadcasting app through a slump sale at Rs 25 lakh.

1:27 PM

Hindustan Aeronautics up for 6th straight day; soars 5% on healthy outlook

In the past 10 months, the stock price of HAL has zoomed 111 per cent. Moreover, from its March 2020 low, it has skyrocketed 1,016 per cent. READ MORE

1:16 PM

Russian oil turns dearer for Indian refiners after US enforces price cap

Moves by Washington to enforce the price cap strictly by opening investigations into five tankers transporting Russian oil has created concerns among refiners and traders. READ MORE

1:04 PM

Margin gains, prudent capital allocation key for more gains in Aster DM

The company highlighted that the deal, which is expected to be completed by the end of FY24, will unlock value for shareholders, improve capital allocation, and tap into the higher growth potential of the India business. The GCC business has been acquired by Fajr Capital which will own 65 per cent while the rest will be held by the promoters of Aster DM. READ MORE

12:55 PM

ALERT :: Venus Remedies receives market authorisations in Saudi Arabia, Philippines

>> It has received marketing authorizations for Paclitaxel 100m9/16.7rn1 and Zolendronic Acid 4mg in the Philippines

>> The company has also secured il/larketing Authorization for Bleomycin 1SlU from SaudiArabia

12:42 PM

BFSI forms larger pie of corporate profits in India than US, Europe

Despite a global contraction in corporate profits over the past 12 months, BFSI firms across major markets have defied this trend. This defiance has led to a sharp increase in the BFSI sector’s contribution to overall corporate profit.  China is an exception to this trend, with both BFSI and non-BFSI firms reporting a year-on-year decline in aggregate net profit in US dollar terms. READ MORE

12:28 PM

ALERT :: Zydus receives final approval from USFDA for Ivabradine tablets

>> Zydus Lifesciences Limited has received final approval from the United States Food and Drug Administration for Ivabradine Tablets, 5 mg and 7.5 mg

>> Ivabradine is indicated to reduce the risk of hospitalization for worsening heart failure in adult patients 

>> Ivabradine Tablets, 5 mg and 7.5 mg had annual sales of USD 136.5 mn in the United States (IQVIA MAT October,2023).

12:13 PM

Zomato's superior execution should hold it in good stead; stock up slightly

Zomato’s share loss could be attributable to decisions like the temporary suspension of its loyalty membership programme and the shutdown of operations in 225 cities. Prosus’s commentary indicates that the Swiggy Food Delivery business remained loss-making in H1FY24, although the company has claimed that (excluding ESOPs) this vertical had turned profitable in March ’23. This could indicate that market share gains have come at the cost of margins. READ MORE

11:56 AM

Rajesh Exports, Brightcom: Trading strategies for top losers in 2023 so far

Despite the roller-coaster ride so far this year, the benchmark and broader indices have not only managed to log significant gains but also scale record life-time highs in 2023. Among the frontline indices, the Sensex and Nifty have rallied around 10 per cent and 11 per cent so far. Read

11:41 AM

Nifty hits new all-time high: Here's a look at stocks that drove the rally

The 50-stock Nifty50 index crossed the psychological level of 20,250-mark on December 1, and scaled an all-time high of 20,272. It took the index close to 51 sessions to surpass its previous high of 20,222 hit on September 15, 2023. Read

11:25 AM

Power stocks on a roll; PFC, REC, NTPC surge up to 9%, hit new highs

Shares of power and related companies were on a roll with state-owned NTPC, Power Finance Corporation (PFC), and REC surging up to 9 per cent and hitting new highs in Friday's intraday trade, after India's gross domestic product (GDP) grew at 7.6 per cent in the September quarter of 2023-24. Read

11:10 AM

M&M November sales: Total sales up 21% to 70,576 units, SUV sales shine

Automobile major Mahindra & Mahindra (M&M) reported a 21 per cent year-on-year (Y-o-Y) rise in total sales (including exports), which reached 70,576 units in November 2023. Mahindra's SUV sales also registered an impressive growth of 32 per cent. The company sold 39,981 units of its SUVs, M&M said in a regulatory filing with the BSE. Read