Sensex sprints 970 pts, ends atop 71,450; Nifty holds 21,450; IT, PSBs jump

Closing Bell on December 15, 2023: Among sectors, the Nifty IT index zoomed 4.5 per cent, the Nifty Metal gained 2.13 per cent, and the Nifty PSU Bank index 2.39 per cent

3:47 PM

Tech View :: 'Bank Nifty's next resistance placed at 50,000'

The Bank Nifty bulls maintain their robust momentum, pushing the index beyond the 48,000 level. The overall market sentiment remains bullish, supported by a strong base at 47,500.

Any retracements towards this support level are seen as buying opportunities. The upside potential for the index is projected to reach 50,000, indicating continued optimism among market participants.

Views by: Kunal Shah, Senior Technical & Derivative analyst at LKP Securities

3:46 PM

Comment :: ' USD/INR witnessed steep fall on account of interest rates being cut in 2024'

The buoyancy continued in the market as investors were expecting the clouds over US economic growth to recede by H2CY24 and that the economy would achieve a soft landing aided by normalization in monetary policy.

The USD/INR witnessed a steep fall on account of the prospects of interest rates being cut next year. The IT index outperformed expectations of a rise in demand in the US economy.

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

3:44 PM

Currency check :: Rupee soars 33 paise, ends at 83/$

3:43 PM

SmallCap Heatmap :: Index hits record high of 42,219 in early hours, ends 0.6% up

3:42 PM

MidCap Heatmap :: Index ends mildly in red after hitting record high of 36,421 intraday

3:40 PM

Nifty Heatmap :: IT stocks dazzle on the bourses; HCL Tech, Infy lead the rally

3:39 PM

CLOSING BELL :: Nifty nears 21,500 intraday; ends at 21,492

3:37 PM

CLOSING BELL :: Sensex ends nearly 1,000 points higher

>> Hits record high of 71,606 intraday

3:20 PM

US stock futures:: Dow up 115 pts; Nasdaq 55 pts

Source: Investing.com

3:10 PM

Global check:: Major European markets up over 0.5% day after ECB says rates to remain elevated for longer

Source: Yahoo Finance

3:00 PM

SBI hits new high after a gap of 1 year; stock surges 5% in 3 days

State Bank of India, on Wednesday, said it will be signing EURO 70 million Line of Credit with KfW (German Development Bank) for supporting Solar PV projects in India. READ MORE

 

2:48 PM

ALERT:: Steel stocks soar up to 11%; NMDC Steel up 4%

2:34 PM

ALERT:: BSE MidCap index slips into red; JSW Energy dips 3%, TVS Motor 2%

2:22 PM

India's trade deficit fell to $20.58 billion in Nov as imports shrank 4.3%

India's merchandise trade deficit fell to $20.58 billion in November, according to government data released on Friday. It was primarily driven by a fall in imports, by 4.3 per cent, to $54.48 billion as compared to $56.95 billion in the same month last year. READ MORE

2:07 PM

Defence ministry signs over Rs 5,300 cr deal with Bharat Electronics Ltd

It said the project aims to achieve self-sufficiency in ammunition manufacturing, obtain critical technologies, and secure stock affected by supply chain disruption. READ MORE

1:52 PM

ALERT:: HFCL unveils a new era in Defence Tech with Cutting-Edge Radars; stock zooms 10%

HFCL through its 90 per cent owned subsidiary, Raddef Private Limited, a R&D enterprise specialising in cutting edge radars and RF solutions, has designed a range of Surveillance Radars catered to meet diverse operational needs.

 

These radars employ Frequency Modulated Continuous Wave (FMCW) technology offering numerous advantages over other radar technologies, including high accuracy, low power consumption, and resistance to interference., the company said in an exchange filing.

1:32 PM

Asian Market Update:: Hang Seng zooms 2.3%; Shanghai ends in red

Source: Yahoo Finance

1:15 PM

Bank of Baroda to raise up to Rs 2,500 cr via Basel III compliant bonds

Public sector lender Bank of Baroda on Friday said it plans to raise up to Rs 2,500 crore by issuing Basel III compliant bonds. READ MORE

12:59 PM

NCLAT refuses to stay Zee-Sony merger, case now to be heard in January

The National Company Law Appellate Tribunal (NCLAT) on December 15 said it will not grant a stay on the merger of Culver Max Entertainment, formerly Sony Pictures Networks India and Zee Entertainment Enterprises Ltd (ZEEL). According to a report by Moneycontrol, the case will now be heard on January 8. Read

12:48 PM

Loan EMIs to rise! SBI hikes MCLR by up to 10 basis points

State Bank of India (SBI) has raised its marginal cost of funds-based lending rate (MCLR) by up to 10 basis points for selected tenures. The latest hike by the state-owned lender will be effective from December 15, 2023, and is expected to raise EMIs on loans linked to MCLR. Read

12:33 PM

Stock of this smallcap cement company has zoomed 64% in one month

Shares of Mangalam Cement hit a new high of Rs 694.40 as they surged 16 per cent on the BSE in Friday's intraday trade, extending their rally on healthy financial performance. Read

12:16 PM

HCL Tech market-cap touches Rs 4 trillion; stock surges 8% in two days

The company thus became the third Indian IT firm to achieve this milestone after Tata Consultancy Services (TCS) and Infosys. Read

12:02 PM

ALERT: NCLAT to hear plea against Sony-Zee merger on January 8

Via Bloomberg

11:49 AM

MFs can generate Rs 3 trn arsenal every year to counter FPI flows: Kotak MF

Given the predictability of flows through systematic investment plan (SIP) and the Employees' Provident Fund Organisation (EPFO) routes, domestic funds are now in a position to pump in as much as Rs 3 trillion a year into equities and offset the sharp selloffs from overseas funds, Kotak Mutual Fund (MF) said on Thursday. Read

11:34 AM

LTIMindtree expands presence in LATAM, opens delivery centre in New Mexico

IT services company LTIMindtree is expanding its presence in Latin America with the opening of a new delivery centre in Mexico City.  
 

The delivery centre, inaugurated on December 14,  will enable workforce transformation and localisation for LTIMindtree in the Americas. Latin America is part of the company's 'Rest of the World' geography, which contributed 12.5 per cent to the company's total revenue as of Q2. Read

11:15 AM

MSC arm acquires 49% in Adani Ennore Container Terminal for Rs 247 cr

Adani Ports and Special Economic Zone Ltd (APSEZ), the largest transport utility in India, has strengthened its strategic partnership with Terminal Investment (TiL), the container terminal operating and investing arm of Mediterranean Shipping Company (MSC), the largest container shipping line in the world, for the operation of Adani Ennore Container Terminal (AECTPL). Read

11:10 AM

ALERT :: RailTel wins order worth Rs 25.3 crore from Government of Madhya Pradesh

>>  RailTel Corporation of India has received the work order from Directorate of Geology and Mining, Government of Madhya Pradesh, for Implementation of AI-based Smart Enforcement System to curb illegal transportation of minerals with 3 years of operation and maintenance.

>> The total contract value for 3 years is Rs 25.30 crore (excluding GST). 

 

10:54 AM

IRFC extends rally with 32% jump in 1 week; hits new high on heavy volumes

Shares of Indian Railway Finance Corporation (IRFC) surged 9 per cent to hit a new high of Rs 100.84 on the BSE in Friday’s intra-day trade amid heavy volumes.

In the past one week, the stock of the state-owned financial institution company has zoomed 32 per cent. In comparison, the S&P BSE Sensex was up 1.4 per cent during the week. Read

10:39 AM

Sterling and Wilson Renewable Energy raises Rs 1,500 crore through QIIs

Sterling and Wilson Renewable Energy has raised Rs 1,500 crore through an issue of shares to qualified institutional investors, the company said in a statement. The Securities Issuance Committee of Board of Directors at its meeting held on December 14 approved the issue and allotment of 4,32,27,665 equity shares to eligible qualified institutional buyers at the issue price of Rs 347 per equity share. Read

10:26 AM

ALERT: Sensex tops 71,000; up 500 pts