Sensex scales mount 70K, ends 103pts up; broader indices outrun, PSBs shine

Closing Bell on December 11, 2023: The BSE Sensex registered a new summit at 70,058, but eventually settled at 69,929 on Monday. Nifty gained 28 points at 20,997.

4:16 PM

COMMENT:: Some profit-taking seen ahead of inflation, US Fed meet

"The market crossed 70,000 levels today, while the broader market outperformed the main indices. However, profit booking was evident at higher levels as traders anticipated clues from tomorrow's significant data releases on inflation from the US and India, as well as the IIP. While US inflation is predicted to remain stable, the market anticipates a rise in domestic inflation. The better-than-expected US job data and a moderate increase in US bond yields from the recent lows, however, also encouraged investors to book profits at higher levels. Investors will be closely watching the upcoming FOMC meeting tomorrow for clues about potential future rate cuts while expecting to keep rates the same this time."

 

- Vinod Nair, Head of Research at Geojit Financial Services

 

4:08 PM

BSE Smallcap Heatmap:: Cheviot zooms 20%; Coffee Day, Wockhardt soar over 14%

4:00 PM

BSE Midcap Heatmap:: TI India, IRFC, GMR Infra shine; HPCL whines

3:57 PM

Broader Market Check:: MidCap, SmallCap indices outperform benchmark Nifty; VIX rises 2%

3:54 PM

Nifty Movers & Shakers:: UltraTech, UPL soar 3%; Dr Reddy tanks 5%

3:52 PM

Sensex 30 Heatmap:: 19 Gainers v/s 11 Losers

3:49 PM

CLOSING BELL:: NSE Nifty50 settles with a gain of 28 pts at 20,997

3:48 PM

CLOSING BELL:: S&P BSE Sensex ends 103 pts higher at 69,929

3:26 PM

Global check:: US, UK stock futures trade on a flat note

Source: Investing.com

3:17 PM

Ficci expects economy to grow at 7.5-8% this fiscal, 8% in 2024-25

Indian economy recorded a growth of 7.8 per cent in the first quarter (April-June 2023-24) and 7.6 per cent in the second quarter (July-September 2023-24). READ MORE

3:07 PM

PSBs in focus; BOI surges 5% on QIP success, PNB's m-cap nears Rs 1 trn mark

The Nifty PSU Bank index hit a new high at 5,589, and has rallied over 10 per cent in the last one month. READ MORE

2:58 PM

Govt expects onion prices to fall below Rs 40 per kg by January: Official

Last week, the government banned onion exports till March next year after the retail sales price of the kitchen staple crossed Rs 80 per kg in the national capital. READ MORE

2:45 PM

Biden's 2024 dilemma: US economy looks solid, voters still not feeling it

Pollsters and economists say there has never been as wide a gap between the underlying health of the economy and public perception. READ MORE

2:32 PM

Sector ALERT:: OMCs on slippery ground; HPCL down 4%

2:19 PM

JSW USA to raise $145 mn loan for capex Moody's affirms stable ratings

JSW Steel USA, a unit of the Indian conglomerate, is raising $145 million to finance capital expenditure and improve slab casting machines and other facilities at its plant in Jefferson County in Ohio. READ MORE

2:07 PM

RBI cautions against misleading advertisements on loan waiver offers

The Reserve Bank on Monday cautioned public not to fall prey to misleading advertisements related to loan waiver offers in print media as well as on social media platforms. READ MORE

1:50 PM

ALERT:: LIC to infuse Rs 25 cr in LIC MF; stock trades flat

Board of Life Insurance Corporation of India at their meeting held on Monday, December 11, 2023 approved infusion of share capital of Rs 25 crore in LIC Mutual Fund Asset Management on a preferential basis.

1:36 PM

ALERT:: Tata Power inks pact with IOC for EV charging points; stock jumps 2%

Tata Power and Indian Oil Corporation to collaborate to deploy 500+ fast and ultra-fast EV charging points across India, the company said in an exchange filing.

1:21 PM

Rajiv Jain-led GQG's $10 billion India bet has winning picks beyond Adani

The value of India investments across six of GQG's funds jumped to $9.9 billion compared with $4.4 billion a year earlier, according to data compiled by Bloomberg. READ MORE

1:02 PM

SpiceJet soars 15% ahead of Q2 results, fund raising plan; up 46% in 3 days

The company's board to consider options for raising fresh capital through the issuance of equity or convertible securities on a preferential basis today; also to announce Q2 results. READ MORE

12:44 PM

Jute stocks in demand; Ludlow Jute, Cheviot rally up to 17%; here's why

The Government on Friday approved mandatory packaging of 100 per cent food grains and 20 per cent sugar in diversified jute bags for the Jute year 2023-24. READ MORE

12:27 PM

ALERT:: 3M India board okays re-appointment of Ramesh Ramadurai as MD; stock up 1%

3M India board approves re-appointment of Ramesh Ramadurai as a Managing Director of the company for a further period from February 13, 2024 to February 12, 2027.

12:10 PM

IREDA hits 20% upper limit; stock up 166% against issue price in 11 days

IREDA has launched a retail division to gear towards enhancing emphasis on providing loans to borrowers in the PM-KUSUM scheme, Rooftop Solar, and other Business-to-Consumer (B2C) sectors. READ MORE

11:49 AM

Should investors opt for higher debt allocation in the next 12-18 months?

Historically, bond yields have traded in a band of 6-8% on an average given that inflation too has stayed in an range of 5-7% over the last decade. READ MORE

11:32 AM

Subros up 18%, hits new high on order wins of Rs 25 cr from Indian Railways

Average trading volumes jumped over four-fold with a combined around 1.9 million equity shares - representing 2.9 per cent of total equity of Subros - changing hands on the NSE and BSE. READ MORE

11:17 AM

ALERT:: JSW Steel November production rises 11%; stock trades flat

JSW Steel in an exchange filing said the company's consolidated crude steel production for November 2023 rose by 11 per cent YoY to 22.04 lakh tonnes.

11:00 AM

We do not expect DIIs to cash out, says Jitendra Arora of ICICI Pru Life

Jitendra Arora, senior executive vice-president and fund manager for equity at ICICI Prudential Life Insurance expects earnings growth for FY24 & FY25 to be around 24 per cent and 14 per cent, respectively. READ MORE

Jitendra Arora, senior executive vice-president and fund manager for equity at ICICI Prudential Life Insurance

10:45 AM

Market check:: Sensex wipes out gains, now flat

10:38 AM

Dr Reddy sinks 7% as Antique Broking expects warning letter for FTO-3 unit

On an old inspection for Dr Reddy's FTO-03 unit, Antique Broking today in a report said, that some of the observations were severe and can lead to a Warning Letter. READ MORE

10:21 AM

ALERT:: Coforge launches Quasar Responsible AI; stock up 2%

Coforge in an exchange filing said the company has introduced the Quasar Responsible AI solution. 

 

It is a comprehensive solution that guarantees the utilization of AI adheres to ethical standards, fairness, transparency, and regulatory compliance. It tackles biases in datasets and models, identifies potential risks and compliance issues, and provides tools to govern, mitigate, and remediate these challenges, the release stated.