Sensex gains 179 pts, Nifty holds 21,700 after a choppy ride; IT stocks up

Closing Bell on January 5, 2024: In the broader markets, the BSE MidCap index added 0.19 per cent, while the BSE SmallCap index gained 0.61 per cent

4:00 PM

Tech View :: 'Conclusive close above 21,750 levels could propel Nifty towards 22,000'

Following a rapid rebound from its positional support at 21,500, bullish activity has resumed in the market, with buying interest evident during dips.

The prevailing sentiment is bullish, but Nifty encounters initial resistance at 21,750, facing selling pressure. Immediate support rests at 21,600.

A conclusive close above 21,750 levels could propel Nifty towards the 22,000 mark, signaling further upward movement.

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

3:51 PM

Comment :: 'Expect the exuberance of the broader index to be tested this earnings season'

The market ended on a flat note, tracking weak global cues, with the US 10-year yield edging higher ahead of the release of US payroll data later today, which may shape the expectation for the FED policy.

Investors are also staying cautious ahead of eurozone inflation data today.

On the domestic front, the market is moving towards the results season, and we expect the exuberance of the broader index may be tested if the December quarter earnings do not justify the valuation.

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

 

3:41 PM

Currency check :: Rupee ends 7 paise higher at 83.16/$

3:40 PM

SmallCap Heatmap :: Index outshines peers, adds 0.6%

3:39 PM

MidCap Heatmap :: Index ends 0.2% higher; check top gainers and losers of the day

3:38 PM

Nifty Heatmap :: Nestle, Britannia end lower; TCS, LTIM, Infy surge

3:37 PM

CLOSING BELL :: Nifty back above 21,700

3:36 PM

CLOSING BELL :: Sensex holds gains of 179 points

3:30 PM

Suzlon gains 5% on securing 225 MW order from Everrenew Energy

In an exchange filing, Suzlon Group, India's largest renewable energy solutions provider, announced that it has bagged a new order for the development of a 225 MW wind power project for Everrenew Energy Private Limited.  READ MORE

3:16 PM

Crypto wrap: Markets highly volatile as ETF rumours take centre stage

The experts, however, continued to be positive about the chances of approval of Bitcoin ETF. According to Bloomberg, the chances are as high as 90 per cent. READ MORE

3:02 PM

Global check:: US, UK stock futures in red, down up to 0.9%

Source: Investing.com

2:51 PM

Home loans' share of retail segment decline to 47.2% in Nov, shows data

The share of home loans in retail advances of banks in November declined to 47.2 per cent from 48.7 per cent a year ago while that of unsecured loans gained.  Home loans constituted over 50 per cent in retail loans in 2021. READ MORE

2:40 PM

UK economy to hit 2% inflation target by spring in upgraded outlook

The UK economy is set for a spring boost as inflation falls below the 2% target, the Bank of England cuts interest rates and the current period of stagnation comes to an end, according to forecasts by Bloomberg Economics. READ MORE

2:29 PM

State-run banks look to equity fundraising as perpetual bonds lose sheen

Diminishing lure for perpetual bonds is likely to prompt Indian state-run banks switch to the equity market for raising funds in coming months, five banking sources told Reuters this week. READ MORE

2:17 PM

Market check:: Sensex slips into red, down 350 pts from day's high

2:07 PM

Top 10 mutual funds' share in total AUM dips below 80%, shows analysis

These fund houses had an average AUM of Rs 38.8 trillion in the third quarter (Q3) of 2023-24, which is 79 per cent of the total industry AUM of Rs 49.2 trillion. READ MORE

1:55 PM

Largecap, midcap cutoff surges over 26% in latest Amfi classification

The rally in the equity markets in the second half of 2023 has led to a sharp surge in the cutoff for stocks to qualify as largecaps and midcaps.  On the latest list put out by the Association of Mutual Funds in India (Amfi), the smallest largecap stock now has a market capitalisation (m-cap) of Rs 67,000 crore, 35 per cent higher than in July 2023. READ MORE

1:43 PM

ALERT:: Gail inks long-term deal with Vital; stock up 1%

GAIL (India) in an exchange filing today said that the company and and Vital Asia Pte Ltd., have signed of a Long Term LNG deal into India for a supply of approximately one million metric tons of LNG per annum for a period of about 10 years, commencing 2026.

1:31 PM

ALERT:: Power Grid wins project in Karnataka; stock rebound, up 0.5%

Power Grid Corporation of India in an exchange filing on Friday said that the company was declared as successful bidder under Tariff Based Competitive Bidding to establish Inter-State Transmission System for "Transmission Scheme for Solar Energy Zone in Bidar (2500 MW), Karnataka" on Build, Own, Operate and Transfer (BOOT) basis.

1:20 PM

Reserve Bank of India to conduct 7-day VRR auction to inject up to Rs 1 trn

The Reserve Bank of India (RBI) will conduct a 7-day variable rate repo (VRR) auction on Friday to inject up to Rs 1 trillion into the banking system, the central bank said on Thursday. READ MORE

1:09 PM

Nifty Next 50 rose 11.09%, energy sector emerges as top performer

The Financial services sector continued to play a pivotal role in propelling the Nifty 500 index, contributing 2.1 per cent to the overall 8 per cent increase in Nifty 500 during December 2023. READ MORE

1:08 PM

ALERT :: Mobikwik refiles DRHP for Rs 700 crore IPO

12:59 PM

Majority of Indian startups eyeing IPOs in 2024 struggle with losses

More than half of the Indian startups gearing up to launch their initial public offerings (IPOs) this year are still contending with losses, according to a report by the Financial Express (FE). Among the annual filings of 12 companies filing their draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (Sebi), eight struggle to post profits and have incurred cumulative losses of Rs 8,000 crore. Read

12:47 PM

Sun Pharma Advanced Research freezes at 10% upper circuit; up 64% in 8 days

Shares of Sun Pharma Advanced Research Company (SPARC) were locked in the 10 per cent upper circuit at Rs 423.60, hitting over five year high on the BSE on Friday at 12:03 PM.
 

The stock of pharmaceutical company was quoting higher for the eight straight trading day and has zoomed 64 per cent during this period. Read

12:30 PM

Sobha Q3 sales bookings up 37% at Rs 1,952 cr on strong housing demand

Realty firm Sobha Ltd has reported a 37 per cent increase in sales bookings at Rs 1,951.6 crore in the third quarter of this financial year, mainly on the back of strong housing demand in Bengaluru. Its sales bookings stood at Rs 1,424.7 crore in the year-ago period. Read

12:15 PM

This Adani Group stock has zoomed 40% in 5 weeks, hit new high today

Shares of Adani Ports and Special Economic Zone (APSEZ) hit a new high of Rs 1,158.75, gaining 3 per cent on the BSE in Friday's intraday trade. The stock is extending its past week's rally which began after the company reported strong cargo volumes in December. Read

12:03 PM

HDFC Bank's advances rise 62.4% to Rs 24.7 trn in December quarter

The largest private sector lender, HDFC Bank, clocked 62.4 per cent year-on-year (YoY) growth in gross advances at Rs 24.69 trillion as of December 31, 2023. Sequentially, the advances rose by nearly 4.9 per cent from Rs 23.55 trillion as of September 30, 2023. Read

11:51 AM

India gave strong investment performance in 2023; headwinds in China: UN

India registered strong investment performance in 2023, driven by government infrastructure projects and multinational investments, the United Nations has said while noting that investment prospects in China face "headwinds" from a struggling property sector. Read

11:40 AM

India's services growth at three-month high in Dec on buoyant demand: PMI

India's services sector ended 2023 on a firm footing, with activity expanding at its fastest pace in three months in December on buoyant demand and an optimistic year-ahead outlook, a private survey showed. Read

11:28 AM

American Tower to sell India operations to Brookfield for $2.5 billion

Canada-based Brookfield will acquire the Indian business of American Tower Corporation (ATC) for an enterprise value of USD 2 billion, a release said on Friday.
 

The transaction is subject to regulatory approvals and expected to close in the second half of 2024. Read