Benchmarks slip, but end 2023 with up to 20% gains; SmallCap index up 47%

Closing Bell on December 29, 2023: The BSE Sensex is ending calendar year 2023 with a solid gain of 18.8 per cent, and the Nifty50 with 20.1 per cent

3:49 PM

Tech View :: 'Nifty to hold 21,300 in case of any further dip'

We may see further consolidation in the index and it would be healthy after the recent surge. We expect Nifty to hold the 21,300-21,500 zone in case of a dip during consolidation and reiterate our positional target of 22,150 level. Participants should stay focused on the selection of stocks and prefer index majors.

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

3:44 PM

Comment ::'Market euphoria expected to continue during the start of 2024'

The market witnessed mild profit booking on the last trading day of the year. Still, the euphoria is expected to continue during the start of the next year on account of the exuberance of rate cuts and the drop in bond yields.

Oil prices, on the other hand, fell by 10% during the year, which could ease inflationary pressure and support the operating performance of the corporates.

We feel that though the outlook on broader indexes is moderate in the short to medium term, the large caps will maintain their vibrancy due to strong earnings growth and in anticipation of the continuation of premium valuation.

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

 

3:42 PM

SmallCap Heatmap :: Index up 0.69% Friday; surges 47% in 2023

3:41 PM

MidCap Heatmap :: Index rises 0.85% Friday; ends 2023 with gains of 45%

3:39 PM

Nifty Heatmap :: Tata Cons, Tata Motors zooms on Friday; BPCL lags

3:38 PM

CLOSING BELL :: Nifty holds 21,700 at close

3:36 PM

CLOSING BELL :: Sensex slips 170 pts on last trading session of 2023

3:29 PM

In charts: Why ICICI Direct sees Nifty hitting 25000 in 2024

"As we embark on CY24, there are green shoots in the form of continued corporate earnings momentum domestically, healthy GDP growth, benign commodity prices outlook as well as likely rate cut globally. Thus, there seem to be more positive than negatives ahead. Amidst this setup, India is in a sweet spot vis-à-vis global peers with macroeconomic stability and corporate earnings in sight. Corporate earnings recovery has been healthy in the recent past with Nifty earnings growing at 22% CAGR over FY20-23. Going forward, introducing FY26E, we expect Nifty earnings to grow at a CAGR of 16.3% over FY23-26E," said Pankaj Pandey, Head-Research, ICICIDirect. READ MORE

3:21 PM

Trent outperforms market for 9th straight calendar year; zooms 127% in 2023

n the previous calendar year 2022 (CY22), the stock price of Trent had appreciated by 27 per cent as against 4.4 per cent gain in the benchmark index. In CY19, the stock had rallied 46 per cent, followed by 31 per cent in CY20, and 55 per cent in CY21. In comparison, the S&P BSE Sensex gained in the range of 14 per cent to 22 per cent during the period. READ MORE

3:07 PM

Global check:: US, UK stock futures trade marginally higher

Source: Investing.com

2:55 PM

Waaree Energies files IPO papers; plans to raise Rs 3,000 cr via fresh issue

Solar panel maker Waaree Energies on Friday filed fresh preliminary papers with capital markets regulator Sebi to raise funds through an initial public offering (IPO). READ MORE

2:44 PM

ALERT:: Power Mech Projects bags orders worth Rs 2,192 cr; stock up 4%

Power Mech Projects has won two orders totalling Rs 2,192.41 croore. Meenakshi Energy has issued an order worth Rs 674.81 crore for revival & operations and maintenance services at coal fired power plant in AP. Second order is worth Rs 1,517.60 crore for mining of river bed mineral (RBM) located in river bed of  Dehradun, Haridwar, Udham singh Nagar and Nainital Districts.

2:33 PM

Voda Idea rallies 19%, hits highest level since Jan 2022 on heavy volumes

Shares of Vodafone Idea (Vi) surged 19 per cent on Friday to hit the highest level in nearly 2 years. The stock touched Rs 15.80 on the BSE on heavy volumes. This was its highest level since January 10, 2022. READ MORE

2:22 PM

Power Grid board approves raising Rs 2,200 cr via bonds; stock marginally down

State-owned Power Grid Corporation board on Friday approved raising of Rs 2,200 crore through bonds. The base issue size is Rs 500 crore with a greenshoe option of Rs 1,700 crore, the the filing added. 

2:09 PM

GE T&D India bags 74 million pound order from GE group's British arm; stock hits 5% upper limit

Both the entities are part of GE Group and this related party transaction has been approved by shareholders in last annual general meeting held on August 21, 2023. READ MORE

1:57 PM

Market check:: SmallCap index up 0.6%; NRB Bearings soars 19%, Railtel 15%

1:46 PM

Techno Electric & Engineering Company wins projects worth Rs 1,750 cr; stock up 3%

Techno Electric & Engineering Company on Friday said it bagged new orders related to smart metering and transmission projects worth Rs 1,750 crore. READ MORE

1:35 PM

Market check:: MidCap index up 0.5%; Voda Idea zooms 17%, Godjrej Inds 6%

1:24 PM

Kalpataru Projects soars 11% on winning new orders worth of Rs 3,244 crore

Shares of Kalpataru Projects International (KPIL) soared 11 per cent to a new peak of Rs 729.55 on the BSE in Friday’s intra-day trade. This came on as the company with its Joint Ventures (JVs) and international subsidiaries secured new orders of Rs 3,244 crore. READ MORE

1:12 PM

Global check:: Asian market mixed in last trading day of 2023

Source: Yahoo Finance

12:59 PM

Record eight-year winning streak seen extending for Indian equities

Indian equities are poised to rise further after capping what will be a record eight-year winning run in 2023, on expectations of continued inflows from retail and foreign investors as well as strong growth in corporate earnings. Read

12:48 PM

Enter 2024 with low return expectations from market, warns Kotak Securities

Even though the Nifty 50 Index is up 20 per cent in the calendar year 2023, brokerage Kotak Institutional Equities has cautioned investors to enter the new year with low return expectations from the market given the conflict between fundamentals. Read

12:33 PM

SME IPO boom has to last so that future billionaires can get funds from mkt

Sam Walton used a $25,000 loan from his father-in-law to open his first store. The venture grew into the retail giant Walmart and made him the richest man in America.
 

Small businesses in India have traditionally relied on similar informal sources of funds to start and sustain their ventures. Read

12:15 PM

This BSE Sensex, Nifty-50 Tata group stock has zoomed over 100% in 2023

Shares of Tata Motors, part of the Tata group, hit a new peak at Rs 801, as they rallied 6 per cent on the BSE in Friday's intra-day trade backed by heavy volumes in an otherwise weak market on healthy business outlook. Read

11:58 AM

Equity market investors turn wealthier by Rs 80.62 trillion in 2023

In a memorable year for the equity market, Dalal Street investors added a whopping Rs 80.62 trillion to their wealth in 2023 as a raft of positive factors powered a stellar rally in stocks.
 

Experts said India's strong macroeconomic fundamentals, political stability owing to the BJP's success in recent elections in three significant states, optimistic corporate earnings outlook, signals from the US Federal Reserve about three prospective rate cuts next year and heavy retail investors participation played a major role in fuelling the stock market rally in 2023. Read

11:44 AM

Many Indian HNIs being asked by foreign banks to shut accounts: Report

Large foreign banks are shutting down the bank accounts of Indian high-net-worth individuals (HNIs) due to the high minimum balance insisted by these banks and the tighter norms by the Reserve Bank of India (RBI), a report by the Economic Times (ET) said on Friday. Read

11:30 AM

PNB gets board approval to raise Rs 7,500 crore through QIP or FPO

The fundraising exercise will be done in one or more tranches during the next financial year, the state-owned bank said in a late-evening regulatory filing. Read

11:14 AM

Retail trading boom doubles turnover of futures and options at NSE

A growing number of Indian investors are plunging into riskier bets, dabbling in stocks with the hope of making quick profits.  
 

The notional turnover of futures and options on the National Stock Exchange of India Ltd. — the world’s largest derivatives bourse by the number of contracts traded — has more than doubled in the last one year. Read

11:01 AM

HPCL, BPCL, IOC: Will petrol, diesel price cut derail rally in OMCs?

Shares of Oil Marketing Companies (OMCs) - Hindustan Petroleum  (HPCL), Bharat Petroleum Corporation (BPCL) and Indian Oil Corporation (IOC) were under pressure in intra-day deals on Friday following reports of a likely cut in petrol and diesel prices. Read

10:48 AM

Tata Coffee, TCPL surge 4%; hit new highs on fixing record date for merger

Shares of Tata Coffee (TCL) and Tata Consumer Products (TCPL) rallied up to 4 per cent, hitting their respective record highs on the BSE in Thursday's intra-day trade after fixing January 15, 2024 as record date for merger. Read