Stock Market Rally Highlights: Sensex up for 5th day, adds 810 pts; Nifty reclaims 24,700

Market Rally Highlights: IT stocks stole the show, with the Nifty IT index settling higher by 1.95 per cent, led by TCS, Infosys, and LTIMindtree

4:06 PM

Technical View: Nifty to test 24,850-25,000 levels in short term

The Nifty opened on a bullish note, experienced high volatility and finally concluded the day on a positive note around 24,708 levels. Technically, on the daily chart, Nifty has formed a bullish candle, which indicates strength. Furthermore, the index has crossed the 24,575 obstacle and closed above it, indicating strength.

As per this breakout, index could test 24,850-25,000 levels in the short term. On the downside,100-Days exponential moving average (DEMA) support is placed near 24,320 levels. Thus, 24,300-24,320 will act as strong support for the index. 

As long as the Nifty stays above 24,300, traders should adopt buy on dips strategy.

View By: Hrishikesh Yedve, AVP Technical and Derivatives Research at Asit C. Mehta Investment Interrmediates

 

 

3:58 PM

Expert View: 'Expectation of a dovish monetary policy by RBI supported the sentiment'

The market experienced a sharp recovery from the day's low, closing with strong gains. A positive turnaround from FIIs for the past couple of days to India in expectation of a dovish monetary policy by RBI supported the sentiment.

Further, stability in November service PMI data despite a rise in inflation shows steadiness in business activity.

Views By: V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services

 

3:56 PM

Stock Market Highlights: Sectorally, Nifty IT index outperforms

3:54 PM

Stock Market Highlights: Broader indices - MidCap, SmallCap move in tandem with benchmarks

3:46 PM

Stock Market Highlights: NSE Nifty ends above 24,700, up 241 pts

 

3:43 PM

Stock Market Highlights: BSE Sensex jumps another 810 pts, settles at 81,766

 

3:19 PM

Stock Market LIVE Updates: SBI stock trades at 4-month high; gains 14% in 2 weeks on strong outlook

Stock Market LIVE Updates: Shares of State Bank of India (SBI) hit an over four-month high at Rs 871, gaining 1 per cent on the BSE in Thursday’s intra-day trade on strong outlook. The stock of the state-owned lender was trading higher for the third straight day, rising 4 per cent during the period. In the past two weeks, SBI has rallied 14 per cent from a level of Rs 762. It was quoting at its highest level since August 1, 2024. It had hit a 52-week high of Rs 912.10 on June 6. READ MORE

 

3:12 PM

Stock Market LIVE Updates: Rupee update

Stock Market LIVE Updates:  USDINR CMP- 84.72 (spot) Indian Rupee recovered slightly today on strength in the domestic markets and overnight decline in crude oil prices. However, a positive US Dollar capped sharp upside. The American currency fell on Wednesday on weaker than expected ISM Services PMI data. ISM Services PMI fell to 52.1 in November, sharply lower than forecast of 55.7.

 

We expect Ree to trade with a negative bias on strong Dollar and worries over economic slowdown. However, weakness in crude oil prices and fresh FII outflows may support the Rupee at lower levels. Traders may take cues from Weekly unemployment claims and trade balance data from the US. USDINR spot price is expected to trade in a range of Rs 84.50 to Rs 84.95.

Views By: Anuj Choudhary – Research Analyst at Mirae Asset Sharekhan

3:01 PM

Stock Market LIVE Updates: 3 PM market update - Sensex, Nifty give up gains

Stock Market LIVE Updates: Benchmark Indian equity indices BSE Sensex and Nifty 50 were trading higher on Thursday.

At 3 PM, the BSE Sensex was higher by 400 points, or 0.49 per cent, at 81,356.49, while the Nifty 50 was at 24,548, ahead by 80.95 points, or 0.33 per cent.

 

2:49 PM

Stock Market LIVE Updates: NBCC India subsidiary secures Rs 600-Cr order; Shares advance over 3%

Stock Market LIVE Updates: Shares of state-owned Navratna company NBCC (India) rallied 3.40 per cent to hit a day's high of Rs 103.40 on the BSE on Thursday, December 5, 2024, after its subsidiary, HSCC (India), bagged work orders worth Rs 600 crore.

 

On the trading front, nearly 13.08 million shares of the civil construction company, worth around Rs 132.42 crore, changed hands on both the BSE and NSE during intra-day trade on Thursday. READ MORE

 

2:41 PM

Stock Market LIVE Updates: Rupee weakness will not deter RBI from cutting rates, says Nomura

Stock Market LIVE Updates: Nomura stuck by its contrarian call that the Reserve Bank of India will lower interest rates on Friday as concerns over economic growth overshadow worries about high inflation and the rupee's weakness.

 

Nomura is one of the five economists surveyed in a Reuters poll that expect the RBI to lower rates by 25 basis points. READ MORE

 

2:25 PM

Stock Market LIVE Updates: Foreigners buy $1 bn in bonds, betting on policy easing after GDP data

Stock Market LIVE Updates: Foreign investors have stepped up buying of Indian government bonds in the last four sessions, after weaker-than-expected economic growth data last week spurred expectations of monetary policy easing by the central bank.

 

These investors net bought bonds worth over Rs 9,000 crore ($1.06 billion) under the Fully Accessible Route till Wednesday, a majority of which are part of JPMorgan's debt index, data from Clearing Corporation of India showed. READ MORE

 

 

2:14 PM

Stock Market LIVE Updates: This Jignesh Shah-owned smallcap stock has doubled in 2 months

Stock Market LIVE Updates: Shares of 63 Moons Technologies hit a decade high of Rs 766.60, and were locked at the 5 per cent upper circuit on the BSE in Thursday’s intra-day trade. The stock of the smallcap company was trading higher for the eight straight day, and has rallied 33 per cent during this period. It was quoting at its highest level since July 2013, with its all-time high registered at Rs 3,048 on June 29, 2007.

 

Jignesh Shah is the Founder, Chairman Emeritus, and Chief Mentor of 63 Moons Technologies. As on September 30, 2024, Jignesh Shah is holding 14.19 per cent stake in 63 Moons Technologies in the promoter group category, the shareholding pattern data shows. READ MORE

 

2:02 PM

Stock Market LIVE Updates: 2 PM market update - Sensex, Nifty at day's highs

Stock Market LIVE Updates: Benchmark Indian equity indices BSE Sensex and Nifty 50 were trading higher on Thursday.

At 2 PM, the BSE Sensex was higher by 726.96 points, or 0.90 per cent, at 81,683.29, while the Nifty 50 was at 24,668, ahead by 200.55 points, or 0.82 per cent.

 

1:53 PM

Stock Market LIVE Updates: Signature Global eyes taking over Noida's stalled projects to expand biz

Stock Market LIVE Updates: Realty firm Signature Global is looking for land in Noida and Greater Noida to expand the business and will explore taking over stalled housing projects as well provided there are no legacy litigations.

 

Signature Global, which got listed in 2023, has a significant presence in the Gurugram market of Delhi-NCR. READ MORE

 

1:43 PM

Stock Market LIVE Updates: Zen Technologies guns for US expansion with tie up with US-based AVT Simulation

Stock Market LIVE Updates: Zen Technologies today informed about its strategic push into the US defense market. The company has formalised its partnership with Applied Visual Technology Inc. D.B.A AVT Simulation, a premier provider of customised training systems, through a Memorandum of Understanding (MoU) inked today in Florida. 

The company, in an exchange filing, said, "This strategic alliance integrates Zen’s cutting-edge technologies with AVT’s expertise in delivering tailored simulation systems. Together, the companies will develop next-generation solutions for defense, emergency response, and commercial applications, addressing the surging demand for immersive, cost-effective training platforms in the US."

 

1:32 PM

Stock Market LIVE Updates: NBCC arm bags work order worth around Rs 599 crore from National Health Mission

Stock Market LIVE Updates: NBCC's subsidiary HSCC (India) Limited in normal course of business has received a work order amounting Rs. 599.35 crore from National Health Mission. Under the project, the company will establish and operate Hinduhridaysamrat Balasaheb Thackery Aapla Dawakhana in Maharashtra. Additionally, it will establish Radiation Oncology Unit (Radiotherapy Unit) on turnkey basis at District Jalna, Ratnagiri, Baramati and Dharashiv in Maharashtra.

NBCC

1:24 PM

Stock Market LIVE Updates: NODWIN Gaming secures Rs 64 cr investment from parent Nazara Technologies

Stock Market LIVE Updates: NODWIN Gaming, a material subsidiary of gaming company Nazara Technologies, secured investment worth Rs 64 crore from its parent company in a bid to expand its portfolio of intellectual properties (IPs), and enhance its presence in emerging markets. READ MORE 

1:21 PM

Stock Market LIVE Updates: Hyundai Motor India to hike prices across all models amid higher costs

Stock Market LIVE Updates: Hyundai Motor India said on Thursday it would hike prices across all its models by up to Rs 25,000 ($295.07), as the newly-listed automaker seeks to mitigate the impact of rising costs. READ MORE 

1:16 PM

Stock Market LIVE Updates: Shareholders approve Gautam Singhania as Raymond Lifestyle chairman

Stock Market LIVE Updates: Gautam Hari Singhania has been officially appointed as the executive chairman of Raymond Lifestyle Limited, following shareholder approval in a Postal Ballot on Wednesday, December 4, 2024. READ MORE 

1:11 PM

Stock Market LIVE Updates: Genus Power shares locked in 5% lower circuit; here's what's dragging stock

Stock Market LIVE Updates: Genus Power Infrastructure shares were frozen in a 5 per cent lower circuit in Thursday's trade and logged an intraday low at Rs 439.75 per share. The stock fell after the Directorate of Enforcement conducted a search at the company’s corporate office and its Chairman’s residence. READ MORE 

1:09 PM

Stock Market LIVE Updates: GST hike on apparel could shut MSMEs, lead to 100,000 job losses: CMAI

Stock Market LIVE Updates: The Clothing Manufacturers Association of India (CMAI) has raised concerns regarding the rate-rationalisation proposal put forward by the Group of Ministers (GoM), chaired by Bihar Deputy Chief Minister Samrat Chaudhary, which includes significant changes to GST rates for the apparel sector. READ MORE 

1:08 PM

Stock Market LIVE Updates: Bajaj Auto skids 3% after dismissing price cut claims on Freedom & Pulsar

Stock Market LIVE Updates: Bajaj Auto shares slipped 2.7 per cent on Thursday and logged an intraday low at Rs 8,751 per share. The downward movement in the stock came after the company clarified that a brokerage report regarding the sales volumes and price cuts of ‘Freedom’ and select ‘Pulsar’ variants does not present an accurate picture. READ MORE

1:02 PM

Stock Market LIVE Updates: 1 PM market update - Off day's lows, Sensex, Nifty climb higher

Stock Market LIVE Updates: Paring their losses, benchmark Indian equity indices BSE Sensex and Nifty 50 were trading higher on Thursday.

At 1 PM, the BSE Sensex was higher by 503.20 points, or 0.62 per cent, at 81,459.53, while the Nifty 50 was at 24,593.70, ahead by 126.25 points, or 0.52 per cent.

 

12:45 PM

Stock Market LIVE Updates: Zota Health Care expands Davaindia network to 1,294 stores, led by 600 COCO stores

Stock Market LIVE Updates: Zota Health Care Limited today informed that the total number of stores in its Davaindia network of stores has increased to 1,294 as of December 4, from 1,165 on October 4. 

The increase has been led by an increase in the number of Company-Owned, Company-Operated stores  from 501 stores to 601 stores.

The company, in an exchange filing, said, "Zota Health Care Limited is pleased to announce a significant milestone in the growth of its Davaindia network, with the total number of operational stores increasing to 1,294 as of 4th December 2024, up from 1,165 on 4th October 2024. A major contributor to this achievement has been the remarkable growth in Company-Owned Company-Operated (COCO) stores, which have surpassed the 600-store mark, increasing from 501 to 601 in just two months."

 

12:38 PM

Stock Market LIVE Updates: Indraprastha Gas stock shines in weak market; gains 4% on bonus share plan

Stock Market LIVE Updates: Shares of gas supplier Indraprastha Gas (IGL) gained 3.81 per cent to hit a day's high of Rs 374 on the National Stock Exchange (NSE) in an otherwise weak market during intra-day trade on Thursday. A combined total of nearly 6.82 million IGL shares, worth around Rs 250.35 crore, were exchanged on the NSE and BSE today.

 

The surge in IGL share price came after the company announced that its board would meet to consider a proposal for a bonus issue of equity shares for its shareholders. READ MORE

 

12:27 PM

Stock Market LIVE Updates: Zomato share price hits new high, up 27% in one month; m-cap nears Rs 3 trn

Stock Market LIVE Updates: Shares of food delivery major Zomato hit a new high of Rs 304.50, surging 6 per cent on the BSE in Thursday’s intra-day trade amid heavy volumes on expectations of a strong outlook. The stock surpassed its previous high of Rs 298.2 September 24.

 

In the past one month, Zomato outperformed the market by soaring 27 per cent, as compared to 1.5 per cent gain in the S&P BSE Sensex. A sharp rally in stock price has seen Zomato’s market capitalisation inch towards Rs 3 trillion. READ MORE

 

12:14 PM

Stock Market LIVE Updates: Divi's Laboratories shares slip 6% in trade; what's worrying investors?

Stock Market LIVE Updates: Divi's Laboratories shares lost 5.7 per cent in Thursday's trade and logged an intraday low at Rs 5,900 per share. The selling pressure in the stock came after the Joint Director, Directorate of Enforcement, Hyderabad Zonal Office levied a penalty of Rs 6 lakh each.

 

Around 11:02 AM, Divi's Labs share price was down 3.09 per cent at Rs 6,064.6 per share. In comparison, the BSE Sensex was down 0.46 per cent at 80,580.61. The market capitalisation of the company stood at Rs 1,60,996.08 crore. READ MORE

 

12:03 PM

Stock Market LIVE Updates: 12 PM market update - Sensex, Nifty trade with losses

Stock Market LIVE Updates: Benchmark Indian equity indices BSE Sensex and Nifty 50 were trading with losses on Thursday.

At 12 PM, the BSE Sensex was lower by 217.41 points, or 0.27 per cent, at 80,738.92, while the Nifty 50 was at 24,368.80, down 98.65 points, or 0.4 per cent.

 

11:53 AM

Stock Market LIVE Updates: Hyundai Motor India to raise prices of up to Rs 25,000 across models from January 1

Stock Market LIVE Updates: Hyundai Motor India today informed that it will roll out a price increase of up to Rs 25,000 on all MY25 models, from January 1, 2025.

The company, in an exchange filing, said, "The Company has planned to increase the prices of its cars from January 1, 2025 onwards, on account of increase in input costs, adverse exchange rate and increase in logistics costs."