Sensex ends flat amid lacklustre trade; Hero Moto zooms 5%, Cipla tanks 8%

Closing Bell on November 23, 2023: In the broader market shares of realty, sugar and textile companies logged strong gains. SmallCaps too outperformed on Thursday.

3:58 PM

COMMENT:: Undercurrent seems to be stronger in the broader market

"Range-bound momentum continued on main indexes as the market looked for new triggers for a decisive move beyond the 19,800 level. However, broad markets, undercurrent is strong and rapid buying has emerged in the mid- and small-cap counters as bargaining strategy arose on recent underperforming stocks. The declining oil prices and ease in US bond yields are the key positives for a broader recovery for the market. The European market was mixed ahead of the ECB minutes and the release of manufacturing index data."

 

- Vinod Nair, Head of Research at Geojit Financial Services
 

3:50 PM

Market breadth was positive; 2,066 stocks advanced v/s 1,638 declining shares on the BSE

3:47 PM

Sectoral Check:: Metals, reatly gain; pharma, IT slip

3:46 PM

Broader Market Check:: SmallCaps outrun; India VIX dips 5%

3:44 PM

Nifty Movers & Shakers:: Hero Moto, Bajaj Auto shine; Cipla whines

3:42 PM

Sensex 30 Heatmap:: 15 Gainers v/s 15 Losers

3:40 PM

CLOSING BELL:: NSE Nifty50 settled 10 pts lower at 19,802

3:38 PM

CLOSING BELL:: S&P BSE Sensex ends 5 pts lower at 66,018

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3:25 PM

Global Check:: US, UK stock futures hold marginal gains

Source: Investing.com

3:16 PM

Sugar shares rally up to 13% on positive outlook; Balrampur hits 52-wk high

Magadh Sugar & Energy, Avadh Sugar & Energy, Uttam Sugar Mills and Dalmia Bharat Sugar and Industries rallied in the range of 10 per cent to 13 per cent on the BSE in Thursday's intra-day trade. READ MORE

3:05 PM

ALERT:: Textile stocks dazzle; Nandam Denim, Nahar Spinning soar up to 12%

2:53 PM

Govt plans to ask ONGC to consider $1.9 billion rights issue to fund HPCL

The comments come after India's finance minister announced a plan this year to provide equity of 300 billion rupees ($3.6 billion) to help the big state oil refiners move towards cleaner energy. READ MORE

2:41 PM

ALERT:: Emami Reatly, Indiabulls Realestate lead bull-charge in real estate shares

2:32 PM

ALERT:: Sugar shares in demand, rally up to 10%

2:19 PM

Hero MotoCorp hits 33-mth high, zooms 15% in 9 days on record festive sales

Last week the company said it recorded highest-ever festive sales, clocking more than 1.4 million units in retail sales during the 32-day festive period. READ MORE

2:09 PM

Stocks set to hit new highs in 2024 by over 10% as economy hums: Poll

India's stock market will hit new highs in the next six months and rise over 10% from here by end-2024, driven by a sustained expansion in the fastest-growing major economy, according to a Reuters poll of equity strategists. READ MORE

1:56 PM

SBI, Infosys, Axis Bank, ONGC most sold large-cap stocks by MFs in Oct

Kotak Mahindra Bank, ICICI Bank, Reliance Industries, Tech Mahindra and NTPC were the most bought large-cap stocks in October. READ MORE

1:43 PM

Market intermediary stocks have little upside after recent rally: Analysts

With the market buoyancy likely to keep up the pace, the long-term view remains robust, however, there is likely not much upside in the medium-term after the recent gains, analysts said. READ MORE

1:31 PM

Asian Market Update:: Hong Kong, China benchmarks gain over 0.6%

Source: Yahoo Finance

1:18 PM

Traders offer sanctioned Iranian crude to India as Chinese purchases peak

Suppliers of sanctioned crude oil led by Iran are making a beeline for Indian shores, after India encouraged imports of cheap Russian crude last year defying western pressure and sanctions, permitting Moscow to capture over 40 per cent of India’s oil market. Traders in the Middle East have approached Indian state-run refiners in the last few weeks with offers for sanctioned Iranian grades at deep discounts, industry sources said. READ MORE

1:05 PM

SpiceJet hits 52-week high on heavy volumes; stocks surges 27% in 3 days

Shares of SpiceJet hit a 52-week high of Rs 48.38, up 10 per cent on the BSE in Thursday’s intra-day trade amid heavy volumes in an otherwise range-bound market. The stock of airline company was trading higher for the third straight day, surging 27 per cent during the period. Read

12:50 PM

Domestic brokerage Prabhudas Lilladher sets 12-month Nifty target 22,584

"Nifty is not in a bubble zone as it is trading at a 17.2 per cent discount to the 10-year average which provides comfort," said Amnish Aggarwal, head of research at Prabhudas Lilladher. READ MORE

12:35 PM

Demat accounts on Central Depository Services platform crosses 100 mn mark

Central Depository Services (India) Ltd, or CDSL, began operations in 1999 and facilitates holding and transacting in securities in the electronic form and settlement of trades on stock exchanges. READ MORE

12:21 PM

Stocks set to hit new highs in 2024 by over 10% as economy hums: Poll

India's stock market will hit new highs in the next six months and rise over 10% from here by end-2024, driven by a sustained expansion in the fastest-growing major economy, according to a Reuters poll of equity strategists. Read

12:05 PM

First SGB batch to mature on 30 Nov: Will it deliver over 12% returns?

Investors who opted for the first batch of sovereign gold bonds ( SGB) and held to its maturity are set to reap major gains as prices of the yellow metal have more than doubled in the last eight years.
 

 Reserve Bank of India issued the first tranche of SGB in November 2015 for Rs 2,684 per gram.  The redemption price of this tranch is yet to be declared. Read

11:50 AM

Adani Group net profit up 107% in first half of FY24 but sales slow down

Nine listed companies of the Adani Group reported a 107.7 per cent rise in net profit at Rs 23,929 crore in the first half of Financial Year 2023-24 (FY24) compared to the same period last year.
 

Net sales of the companies slowed down by 14 per cent to Rs 1.49 trillion in the first half of FY24, data collated by ‘Business Standard’ showed. Read

11:35 AM

Opinion: Here's why the world's most loved-emerging market is feeling jittery

Where India has stood apart from most other emerging markets is in delivering high economic growth - 6 per cent-plus expected in 2023 and 2024, according to the International Monetary Fund. Read

11:20 AM

Govt considers revising PLI scheme for telecom to spur 5G adoption

The government is contemplating the release of a revamped version of the production-linked incentive (PLI) scheme for telecom equipment, according to a report by The Economic Times (ET). With over Rs 1,500 crore unutilised and less than half of the 42 companies meeting their financial year 2022-23 (FY) targets, the revised scheme aims to incentivise additional telecom networking products and open doors for fresh applications. Read

11:07 AM

Altman's firing and reinstatement; What does it mean for the future of AI?

It's been quite a week for ChatGPT-maker OpenAI and co-founder Sam Altman.
 

Altman, who helped start OpenAI as a nonprofit research lab back in 2015, was removed as CEO Friday in a sudden and mostly unexplained exit that stunned the industry. And while his chief executive title was swiftly reinstated just days later, a lot of questions are still up in the air. Read

 

10:48 AM

Tamilnad Mercantile Bank finalises three candidates for MD and CEO post

Tuticorin-based Tamilnad Mercantile Bank (TMB) has said that it has finalised three candidates for the post of managing director (MD) and chief executive officer (CEO). Read