Sensex leaps 491 pts, Nifty tops, 21,650; Realty index up 7%, Bajaj Fin 4%

Closing Bell on January 4, 2024: The Nifty Realty index jumped 6.76 per cent, followed by the Nifty Financial Services, Bank, and Private Bank indices (up over 1 per cent each)

3:51 PM

Comment :: 'More consolidation ahead likely'

Feeble global cues combined with mixed trends across heavyweights are pointing towards further consolidation in the index. Traders should continue with stock-specific trading approach, with a focus on overnight risk management. 

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

3:46 PM

Tech View :: 'Bank Nifty may hit 50,000'

The Bank Nifty witnessed a robust comeback by the bulls, decisively surpassing the hurdle at 48,000 on a closing basis.

This breakthrough confirms the resumption of the uptrend, indicating a potential move towards the target of 50,000.

The bullish crossover in the RSI further supports the positive momentum.

In case of any pullback, the index has a solid support at 47,700, serving as a cushion for the bulls

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

3:44 PM

Currency check :: Rupee ends 6 paise higher at 83.23/$

3:43 PM

SmallCap Heatmap :: Index rises 1% led by Steel Exchange, Reliance Power

3:41 PM

MidCap Heatmap :: Index advances 1.5%; Lodha, Torrent Power rally up to 9%

3:40 PM

Nifty Heatmap :: Bajaj Fin, TCP, ONGC surge in trade

3:39 PM

CLOSING BELL :: Nifty50 reclaims 21,650

3:37 PM

CLOSING BELL :: Sensex snaps 2-day losing run, rises 491 pts

3:30 PM

Nifty Realty soars 6% in sharpest single-day rally since October 2021

On October 7, 2021, the index had rallied 6.2 per cent. Today, it was quoting at its highest level since June 2008, BSE data showed.  READ MORE

3:23 PM

ALERT :: LTIMindtree integrates Syncordis, Nielsen+Partner to form Banking Transformation Practice

>> LTIMindtree has announced integration of its subsidiaries -- Syncordis and Nielsen+Partner -- to form a specialised Banking Transformation Practice (BTP)

>> Through this integration, LTIMindtree aims to combine complementary capabilities of two successful companies with a proventrack record in delivering industry-leading growth.

>> LTIMindtree's BTP will offer customers significantly enhanced product/platform capabilities, a more diverse set of end-to-end, core-to-consumer offerings further augmented by deeper industry partnerships and a highly skilled talent pool.

Source: BSE Filing 

3:13 PM

IndiGo removes surcharge after 3 months as aviation fuel prices decline

"As ATF prices are dynamic, we will continue to adjust our fares and components thereof, to respond to any change in prices or market conditions. IndiGo remains committed to its promise of providing affordable, on-time, courteous, and hassle-free travel for our customers," said the airline. READ MORE

3:00 PM

Global check:: US, UK stock futures marginally up

Source: Investing.com

2:48 PM

India may surpass FY24 target for state-run firms' dividends by Rs 12K-cr

So far this fiscal, India has received Rs 43,800 crore in dividends from state-owned firms, according government data. READ MORE

2:32 PM

As Jio Fin awaits MF biz licence, this brokerage sees 24% upside in stock

On the bourses, shares of Jio Financial Services advanced 3.2 per cent to Rs 242 apiece on the BSE in Thursday's intraday trade. READ MORE

2:19 PM

Emerging markets brace for wave of elections, fiscal discipline at stake

For investors, elections divide into three categories: Those where the outcome is rather obvious, such as Russia or Venezuela; those where it seems clear but ballot is contested, for example India. READ MORE

2:06 PM

Stars align for Indian sovereign bonds after first yearly gain since 2020

Indian sovereign bonds, coming off the best annual performance in three years, are poised for further gains on expectations that their upcoming inclusion in a global bond index will lure big foreign inflows. READ MORE

1:53 PM

Airtel loses 1.2 million users, Jio gains 1.84 million in October: Trai

Airtel lost nearly 1.2 million active users in October 2023 as its costlier mobile services - following a sharp increase in base prepaid rates implemented nationally a year ago - may have triggered some de-activations, according to the Telecom Regulatory Authority of India (Trai). READ MORE

1:41 PM

Global check:: Asian markets end off the day's low

Source: Yahoo Finance

1:32 PM

Bandhan Bank advances in Q3 FY24 increase by 18.6% to Rs 1.6 trn

Bandhan Bank’s total advances increased by 18.6 per cent to Rs 1.6 trillion in the third quarter of Financial Year 2023-24 (Q3 FY24) from Rs 97,787 crore in the same period in FY23. READ MORE

1:16 PM

Bajaj Finance shares soar 5% as Q3 business update shows robust AUM growth

Shares of Bajaj Finance sprinted 4.6 per cent to Rs 7,725 per share on the BSE in Thursday's intraday trade as the non-bank finance company's  (NBFC's) December quarter business update reflected minimal impact of the Reserve Bank of India's ban on two of its lending products.
 

At 11:11 AM, shares of Bajaj Finance were ruling 3.5 per cent higher at Rs 7,640 per share as against 0.66 per cent gain in the benchmark S&P BSE Sensex. Read

1:00 PM

Govt may lower disinvestment goal by 20% after missing FY24 target: Report

The central government may lower its target for disinvestment plans in the upcoming financial year (FY25) compared to the FY24 estimate, according to media reports. With having met only about one-fifth of the disinvestment target of FY24 at Rs 10,050 so far, the Centre is likely to lower its target in FY25 by at least 20 per cent, Livemint reported. Read

12:46 PM

AU Small Finance Bank's advances rise 20% to Rs 67,624 cr in Q3FY24

AU Small Finance Bank clocked 20 per cent year-on-year (YoY) growth in gross advances at Rs 67,624 crore during Q3FY24 with healthy disbursements across retail assets and the commercial banking group. According to the exchange filing, advances rose by 4 per cent sequentially from Rs 65,029 crore. Read

12:35 PM

This Smallcap iron & steel maker has zoomed over 1700% in just 10 months

Shares of Jai Balaji Industries were locked in the 5 per cent upper circuit for the second straight session on Thursday at Rs 847.95 on the BSE (as of 11: 35 am).
 

There were only buyers on the counter. A combined around 195,000 shares changed hands with pending buy orders for a combined 120,000 shares on the NSE and BSE. Read

12:20 PM

Palm oil rebounds on robust Indian demand and stronger crude prices

Malaysian palm oil futures rose on Thursday, after a four-session losing streak, underpinned by robust demand from key buyer India and higher crude oil prices. The benchmark palm oil contract for March delivery on the Bursa Malaysia Derivatives Exchange rose 15 ringgit, or 0.4 per cent, to 3,636 ringgit ($784.13) a metric ton at the midday break. Read

12:02 PM

SBI likely to issue perpetual bonds to wrap up FY borrowing: Report

State Bank of India (SBI), the country's largest lender, is likely to come up with its final bond issuance for the current financial year in the form of Basel III-compliant additional Tier I perpetual bonds this month, two sources directly aware of the development said on Thursday. Read

11:52 AM

Bajaj Finance's AUM post 35% growth, cross Rs 3 trn mark in Dec 2023

Bajaj Finance posted 35 per cent year-on-year (YoY) growth in Assets Under Management (AUM) at Rs 3.11 trillion as of December 31, 2023, in comparison to Rs 2.31 trillion in the year-ago period. In Q3FY24, the company's AUM improved by nearly Rs 20,700 crore. Read

11:41 AM

Nifty, Bank Nifty bounce back: Should you sell the rally? Check key levels

Equity benchmark indices have bounced back in trades on Thursday, after having started the New Year 2024 on a shaky note. The NSE Nifty 50 was up 120-odd points (0.6 per cent). Among key sectors, the Bank Nifty was up 0.5 per cent, while the Auto index added 0.2 per cent. The IT index, however, was flat. Read

11:29 AM

ONGC hits over 7-year high, up 3% on winning seven oil exploration areas

Shares of Oil & Natural Gas Corporation (ONGC) hit an over seven-year high of Rs 213.55, gaining 3 per cent on the BSE in Thursday's intraday trade, after the state-owned company won seven of the 10 areas for exploration of oil and gas. Read

11:15 AM

State-owned PFC commits Rs 25,000 cr for power sector projects in Gujarat

This substantial financial commitment underscores PFC's steadfast commitment to bolstering the power infrastructure in the region and supporting the state's ambitious initiatives in the power sector. Read

11:00 AM

Poonawalla Fincorp's AUM rises 57% to around Rs 21,850 cr in Q3FY24

As for asset quality, the NBFC said its standing on Gross Non-Performing Assets (GNPA) and Net Non-Performing Assets (NNPA) is expected to improve further. "We would strive to maintain the NNPA below 1 per cent in line with the Management Vision 2025," it added. GNPAs were at 1.69 per cent and NNPAs at 0.89 per cent a year ago (December 2022). READ MORE