Sensex soars 372 pts, Nifty ends near 21,800; Azad Engineering jumps 29%

Closing Bell on December 28, 2023: The S&P BSE Sensex hit record high level of 72,484 and the NSE Nifty50 claimed 21,801 intraday

3:59 PM

Tech View :: 'Nifty remains firmly in bullish territory'

The Nifty remained firmly in bullish territory as the index surged to a new all-time high. Strong put writing at the 21,700 strike bolstered the bulls, propelling the index toward 21,800.

Short-term support is situated at 217,00, signaling a continued bullish sentiment. A decisive move above 21,800 could lead the index toward the 22,000 mark.

Views by: Rupak De, Senior Technical Analyst at LKP Securities. 

3:47 PM

Comment :: 'Suggest continuing buy-on-dips approach'

The rotational buying in heavyweights across sectors is helping the index to inch higher, and we expect the same trend to continue.

Besides, favorable global cues are further adding to the positivity. We thus reiterate our bullish view and suggest continuing with a “buy on dips” approach. 

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

3:46 PM

Comment :: Here's what drove markets to all-time highs today

The benchmark index maintained its optimism and hit fresh high owing to ease in Red Sea issue and reversal of FII inflows.

A decline in crude oil prices below $80 prompted widespread purchasing across oil and energy companies.

The Asian market, too, advanced due to an expectation of more aggressive rate cuts by fed next year.

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

 

3:44 PM

Currency check :: Rupee gains 18 paise vs US dollar

3:43 PM

SmallCap Heatmap :: Index underperforms, ends just 0.23% higher

3:42 PM

MidCap heatmap :: Index edges 0.77% higher; HPCL, SAIL end as top gainers

3:40 PM

Nifty Heatmap :: Only 13 stocks end lower; Coal India, Dr Reddy's Lab charge

3:38 PM

CLOSING BELL :: Nifty settles near 21,800

3:37 PM

CLOSING BELL :: Sensex ends at record closing levels, tops 72,400

3:27 PM

ALERT :: Sona Comstar gains over 2.5% on report Tesla may set up factory in Gujarat

>> Tesla is poised to establish its car manufacturing plant in Gujarat, with the official announcement expected during the forthcoming Vibrant Gujarat Summit in January 2024, the report said.

>> Sona Comstar is the only Listed India Vendor Supplying to Tesla

3:13 PM

SpiceJet's resurgence could disrupt Indian aviation market: CAPA India

Earlier this month, cash-strapped SpiceJet announced it is going to raise a total of Rs 2,241.5 crore through issuance of equity and warrants -- Rs 1,591.5 crore will be raised by issuance of equity to 58 entities and Rs 650 crore will be raised by issuance of warrants on a preferential basis to five other entities. READ MORE

3:01 PM

Global check:: US, UK stock futures marginally in red

Source: Investing.com

2:49 PM

State banks to snap two-month streak of selling govt debt: Report

Indian state-run banks are likely to resume buying government debt next year, after two months of sales, to cash in on attractive prices, especially before they start rising due to firming expectations of rate cuts, traders told Reuters. READ MORE

2:36 PM

PNB soars 6% on heavy volumes; stock price has more-than-doubled since April

Thus far in the month of December, PNB has appreciated by 25% on consistent improvement in headline asset quality metrics, and steady reduction in fresh slippages over the recent past. READ MORE

2:21 PM

Tech companies planning to step up hiring in tier-2, tier-3 cities in 2024

Tier-2 and tier-3 cities such as Thiruvananthapuram, Kochi, Coimbatore, Jaipur, Mohali, Vadodara, Chandigarh, and Indore contribute around 12-15 per cent of the country's tech talent. READ MORE

2:05 PM

GSK Pharma surges 7%, nears record high on healthy business outlook

Since November, the stock has appreciated by 36% after the company reported earnings improvement in Q2FY24 on strong demand for its vaccines and general medicine. READ MORE

1:49 PM

ALERT:: Kajaria Ceramics board okays hike in investment limit in arm; stock trades flat

1:35 PM

In non-cigarettes push, how ITC built more than 25 FMCG mother brands

As we prepare to welcome 2024, ITC has metamorphosed from a tobacco giant into a conglomerate straddling multiple large-sized businesses. READ MORE

1:22 PM

Sector Alert:: Realty stocks gain on hopes of healthy housing demand in 2024

1:09 PM

Asian Market Update:: China, Hong Kong benchmark indices soar over 2.5%

Source: Yahoo Finance

12:56 PM

Banks not spending IT budgets fully, says RBI Dy Guv Swaminathan J

Commercial banks in India are not spending their entire IT budget, Reserve Bank of India’s Deputy Governor Swaminathan J said while referring to recent instances of unscheduled downtimes inconveniencing several customers. Read

12:43 PM

Housing sales up 31% in 2023, 476,530 units sold in top 7 cities: Anarock

Housing sales rose 31 per cent this year to nearly 4.77 lakh units -- an all-time high -- across seven major cities, despite price appreciation by an average 15 per cent, and higher mortgage rate, according to Anarock. Read

12:29 PM

US companies picky about investing in China, but keen on burgers, lattes

There's been no shortage of tough news for China's economy as some of the world's biggest brands consider or take action to shift manufacturing to friendlier shores at a time of unease about security controls, protectionism and wobbly relations between Beijing and Washington. Read

12:17 PM

RBI continues battle against inflation; eyes on possible rate cut in 2024

After announcing the December monetary policy review, Das said that "loosening in rates is not on the table at all" till the inflation demon is chained at or is under 4 per cent for a durable time. Read

12:05 PM

Suzlon bags 300 MW project from Apraava Energy to supply wind turbines

Renewables solutions provider Suzlon on Thursday said it has bagged a 300 MW wind energy project from Apraava Energy.

Suzlon will instal 100 Wind Turbine Generators (WTGs) with a Hybrid Lattice Tubular (HLT) tower, and a rated capacity of 3 MW each at the client's site in Karnataka, a company statement said. Read

11:50 AM

Firstcry's parent firm Brainbees Solutions files papers to go public

Firstcry IPO: Brainbees Solutions, the parent company of online retailer Firstcry, has filed for an initial public offer (IPO), as reported by news agency Reuters. Brainbees Solutions will sell shares worth Rs 1,816 crore ($218 million) and existing investors, including SoftBank, will sell up to 54.4 million shares. Read

11:39 AM

HDFC Bank market cap touches Rs 13 trillion; stock surges 10% so far in Dec

HDFC Bank's market capitalisation (market cap) touched Rs 13 trillion in Thursday's intra-day trades as the largest private sector lender is set to report its sharpest monthly rally in the past two years. At 10:33 AM; HDFC Bank's market cap stood at Rs 13.03 trillion, the BSE data shows. Read

11:25 AM

KPI Green Energy zooms 9% on plans to consider second bonus issue in 2023

Shares of KPI Green Energy zoomed 9.5 per cent to hit a new high at Rs 1,402 after the company announced its plans to consider issue of bonus shares.
 

The company in an exchange filing post market hours on Wednesday, said that its board will meet on December 30 to consider a proposal for issue of bonus equity shares. Read

11:12 AM

Kotak favours mega-caps for reasonable valuations, resilience against uncertainty

In its outlook report for 2024, brokerage Kotak Securities is bullish the benchmark Nifty index may hit 21,834 mark by December next year, indicating less than a 2 per cent upside against the current level. Read

10:59 AM

Inside the record year for India's $585 billion mutual funds industry

A record surge in assets under management. More than 20 million new investment accounts added. And a planned return by BlackRock Inc., the world’s largest money manager. These are some of the milestones that mark what’s set to be a blockbuster year for India’s mutual funds industry. Read