Benchmarks see wild swings on first day of 2024, end flat; banks, auto slip

Closing Bell on January 1, 2024: The BSE Sensex and Nifty50 indices hit record highs of 72,562, and 21,834, respectively, intraday

3:48 PM

Comment :: 'Profit booking was visible on lingering concerns over Red Sea disruptions'

Market exhibited strength led by optimism on rate cuts, easing global inflation, and softer bond yields. But profit booking was visible at higher levels as lingering concerns over Red Sea disruptions pose short-term risks to global supply chains and freight costs.

The spotlight of this week is also on FOMC minutes which will provide an insight for 2024 rate cut.

Momentum in mid & small caps remains strong, buoyed by a positive macro-outlook however private banks experienced a reversal trend.

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

3:43 PM

Broader markets :: Mid, SmallCap indices outshine benchmarks

3:42 PM

Nifty Heatmap :: Nestle, Adani Ent end as top gainers

3:40 PM

Closing Bell :: Nifty ends below 21,750

3:38 PM

Closing Bell :: Sensex ends flat after hitting record high

3:26 PM

Brookfield-backed Indostar Capital sells stressed SME loans worth Rs 292 cr

Indostar, which is backed by private equity investor Brookfield, said the sale of the SME loan portfolio comprised several stressed accounts resolved on December 30, 2023 through sale under the Swiss Challenge method. The method involves an interested party presenting a bid to the auctioneer who then calls for counter bids. READ MORE

3:14 PM

UPI scales new high in December; 2023 value up 59% at Rs 183 trn

The previous monthly peak in value was in November 2023 when 11.24 billion transactions worth Rs 17.4 trillion were made. UPI transactions in December grew 54 per cent in volume and 42 per cent in value compared to the same month in 2022. READ MORE

3:02 PM

Saudi Arabia's fund outpaces Singapore's GIC With $31.6 billion splurge

Overall, sovereign wealth funds controlled by the hydrocarbon-rich governments of Abu Dhabi, Saudi Arabia and Qatar took five spots on a list of the top 10 most active funds last year. READ MORE

2:51 PM

Market check:: Nifty hits new high at 21,819, up over 85 points

2:43 PM

Adani's JV hires global team for Dharavi overhaul project in Mumbai

Indian billionaire Gautam Adani's joint venture with Mumbai's slum rehabilitation authority has hired a global team to redevelop Dharavi, a key step in rebuilding one of Asia's biggest slums amid growing opposition to the project. READ MORE

2:34 PM

Foreign investments into Indian bonds reached six-year high in 2023

The US 10-year bond yield has fallen to around 3.85% on rate cut hopes, widening the spread with its Indian peer to 335 basis points from around 240 bps in late October. READ MORE

2:24 PM

Market Check:: Sensex at day's high, up over 150 points

2:19 PM

Stock of this consumer electronics firm has zoomed over 200% in 10 months

Shares of HPL Electric & Power (HPL) were locked in the upper circuit of 10 per cent at Rs 273.55, also its record high, with only buyers being seen on the counter. A combined 1.97 million equity shares changed hands and there were pending buy orders for 350,000 shares on the NSE and BSE. READ MORE

2:07 PM

JK Tyre raises Rs 500 cr; to be used for capex, strengthening balance sheet; stock trades flat

JK Tyre & Industries on Monday said it has raised Rs 500 crore by way of qualified institutional placement (QIP). READ MORE

1:54 PM

Indian real estate in 2023 saw highest investment inflows since 2020

In 2023, Indian real estate witnessed the highest level of investment inflows since 2020, according to real estate consultancy Colliers. These inflows in 2023 were $5.4 billion, 10 per cent higher as compared to 2022. In the sector, the office sector continued to be the most significant contributor for 2023 with a 56 per cent share in total inflows. READ MORE

1:43 PM

ALERT:: Atul Auto Dec sales jump 16.4%; stock trades flat

Atul Auto in an exchange filing today said the company sold 2,503 units in December 2023, up 16.4 per cent when compared with a sale of 2,151 units in the same month a year ago.

1:32 PM

China's factory activity slows in Dec, indicating economy is still sluggish

A survey of factory managers in China shows that manufacturing contracted in December in the latest sign the world's No. 2 economy remains sluggish. READ MORE

 

1:21 PM

ALERT:: Eicher Motors Dec sales up 11%; stock down 2%

1:11 PM

TCS get notice from Maharashtra labour dept for employee transfer practices

The complaint by the Nascent Information Technology Employees Senate (NITES), a group representing India’s IT industry workers, alleged TCS transferred more than 2,000 employees without proper consultation. READ MORE

12:59 PM

Vodafone Idea hits over 4-year high; zooms 39% in 2 days on heavy volumes

Markets were also betting that the government would sell its 33.1 percent stake in VIL to Musk to enable Starlink to enter the Indian market. Musk is visiting India to attend the Vibrant Gujarat Business Summit between January 10 and 12, for a big land deal in the state for a mega factory for his auto company, the Business World reported. READ MORE

12:48 PM

FAQs: What will the market do in 2024? What will result in a correction?

The returns in 2024 will depend on the tussle between fundamentals and sentiment. In an entirely ‘fundamental’ market, returns will likely be modest for the market and negative for many stocks. READ MORE

12:35 PM

Market Check :: Sensex down nearly 100 pts

12:25 PM

DCB Bank hits 52-week high, has rallied 25% in last 1 month; here's why

In past one month, the stock has zoomed 25 per cent, after Aga Khan Fund for Economic Development, promoter of the private sector bank, expressed interest to infuse ~$10 million (approx. Rs 83 crore) in the bank. READ MORE

12:10 PM

ALERT :: Karur Vysya Bank's Advances up 17% Y-o-Y as of Dec 31

11:53 AM

December Auto Sales | M&M sells 60,188 units, up 6% Y-o-Y

>> Mahindra & Mahindra Ltd. (M&M Ltd.) said its overall auto sales for the month of December 2023 stood at 60,188 vehicles, a growth of 6%, including exports.

11:38 AM

RailTel Corporation soars 27% in 6 days on winning orders worth Rs 263 cr

At 10:09 AM; RailTel was quoting 8 per cent higher at Rs 366.10, as compared to 0.16 per cent decline in the S&P BSE Sensex. The counter has seen huge trading volumes with a combined 15.63 million equity shares representing nearly 5 per cent of total equity of the company changing hands on the NSE and BSE in first hour of trade, the exchange data shows. READ MORE

11:25 AM

Health, EV, fintech: Key industries beckoning foreign investors in 2024

"Key industries beckoning foreign investors in India in 2024 include healthcare and insurance, fintech, renewable energy and climate tech, electric vehicles and automobiles, IT and services, real estate and infrastructure, fast-moving consumer goods (FMCG), and R&D, tech innovation, and artificial intelligence (AI). These have all been on a hot streak in 2023, as foreign direct investment (FDI) policies have relaxed in recent years, and production-linked incentive (PLI) schemes have been promoted," said  Devang Shah, Head Retail, ACMIIL. READ MORE

11:12 AM

2024 set to be eventful for North Block, RBI in pursuit of $5 trn goal

The Reserve Bank of India (RBI) while accepting 21 of the IWG’s 31 recommendations had said “the remaining recommendations are under examination” in its press release of November 26, 2021. This was read by private bank licence hopefuls that the issue was still open. READ MORE

10:56 AM

BHEL surges 6% on buzz of winning Rs 19,422 cr order from NLC India

The stock was trading at its highest level since October 2015. At 09:36 AM; BHEL was quoting 5 per cent higher at Rs 203.45, as compared to 0.15 per cent decline in the S&P BSE Sensex. The counter saw huge trading volumes with a combined 32.6 million equity shares changing hands on the NSE and BSE. READ MORE

10:43 AM

December Auto Sales | Escorts Kubota's construction-machinery sales durge 68% Y-o-Y