Indices log record closing peaks for 4th day; Sensex up 224 pts at 46,890

Markets today: Heavyweights like HDFC, Bajaj Finance, HDFC Bank, and Reliance ended between 0.5 per cent and 3 per cent higher on the S&P BSE Sensex

2:42 PM

Global Market Update: European shares up for fourth session

European shares remained at 10-month highs on Thursday, as hopes of more stimulus in the United States and potential COVID-19 vaccine rollouts in Europe strengthened the case for a global economic recovery. Germany’s DAX climbed 1% to hit its highest since February, while the pan-European STOXX 600 index rose 0.5%, both extending gains to a fourth straight session. (Text Source: Reuters)

2:38 PM

Bitcoin tops $22,000 mark for the first time ever

Bitcoin set a fresh all-time high on Thursday, after rising 6.5% to $22,765 by 0833 GMT, just a day after smashing the $20,000 milestone for the first time. The world’s highest profile crypto-currency has gained more than 175% this year, buoyed by demand from larger investors attracted to its potential for quick gains and perceived inflation-hedging qualities.

 

2:33 PM

Sector rotation, a trend we saw in 2020, will continue even in 2021: Manish Kumar, CIO, ICICI Pru Life

Structurally, India is seeing a broad-based recovery with less sectors going through stress despite being hit hard by the pandemic. Indian markets are yet relatively insulated from global uncertainties. Over a 12-month view, we believe they will be supported by earnings traction and normalisation of growth with key drivers for India remaining intact, says Manish Kumar, chief investment officer at ICICI Prudential Life Insurance. READ MORE

2:09 PM

MARKET UPDATE:: Nifty Bank index rises 300 pts from day's low

1:55 PM

Lupin rises on settling dispute with Gavis and Novel; gains 5% in four days

Shares of Lupin were trading 2.5 per cent higher at Rs 985 on the BSE on Thursday after the pharmaceutical company settled a dispute with Gavis Pharma and Novel Laboratories. The stock was trading higher for the fourth straight day, up 5 per cent during the same period. On Wednesday, Lupin announced in a BSE filing that its dispute with the sellers in the Gavis/Novel transaction has been resolved amicably to the satisfaction of all parties. READ MORE

1:45 PM

ALERT :: S&P BSE MidCap index hits fresh 52-week high, just 1.6% away from all-time high

1:38 PM

MARKET ALERT :: Indices on record-breaking spree

>> S&P BSE Sensex tops 46,900-mark for the first time, hits new high of  46,948

>> NSE's Nifty tops 13,750, hits record high of 13,764

1:32 PM

BROKERAGE VIEW | MOSL sees 17% upside in HUL stock

The brokerage firm Motilal Oswal Financial Services in a report said it remains positive on HUL from a medium-term perspective, encouraged by: (a) robust earnings growth potential beyond the near term owing to its portfolio and execution strengths and (b) significant synergies in FY22E as a result o GSKCH. "These factors suggest premium multiples are likely to sustain. Valuing the company at 55x Dec’22 merged EPS, we arrive at tagret price of Rs 2,750, implying a 17% upside," it added.

1:30 PM

Mrs Bectors' Food IPO :: Issue subscribed 81x till 1:15 pm on Day 3

>> As per reports, the portion set aside for non-institutional investors has seen subscribed 290.4 times and that of qualified institutional buyers 26 times. Retail investors and employees' reserved portion was subscribed 23.2 and 39 times respectively.

1:20 PM

OEM recovery, robust replacement demand to boost Apollo Tyres revenues

The cyclical recovery in commercial vehicles, strong demand in the replacement segment, and ramp-up of its Hungarian facility are expected to help improve the revenue growth trend for Apollo Tyres. A strong presence in the aftermarket segment should enable it to hike prices and maintain margins. Analysts at Nirmal Bang Research expect the tyre industry to post healthy growth rates over FY21-FY23, led by 18-20 per cent growth in the original equipment manufacturer segment over this period. READ MORE

1:14 PM

Page Industries hits 52-week high amid surge in volume

1:07 PM

Nifty Realty index in focus, up 1%

12:57 PM

BUDGET 2021 :: Finance Minister Nirmala Sitharaman holds pre-Budget consultations with representatives of social sector

12:48 PM

L&T Technology Services shares advance 8%, hit fresh record high

Shares of L&T Technology Services zoomed 8 per cent to Rs 1,991, also its record high, on the BSE on Thursday after the company said it was recognized with the Frost & Sullivan 2020 Global Customer Value Leadership Award for its intelligent building experience management system, i-BEMSTM. READ MORE

12:39 PM

NEWS FLASH | Confident aviation traffic would hit pre-Covid levels by Jan-March 2021: Aviation Minister