Page 32 - Stock Market Rally

Indices snap 7-week winning streak; Sensex, Nifty dip despite Friday gains

Profit booking after the excellent run was cited as the primary reason for this week's market rout

Nifty, Sensex could see another 8-10% upside in 2024: HDFC Securities

The brokerage said its preferred sectors are large-cap banks, industrial and real estate, power, autos, pharma, OMCs, gas, and capital markets

AMCs get a revenue boost from strong retail inflows via mutual funds

Assuming 10% incremental annual inflows and market appreciation of 5-7%, AUM could continue to grow 15% in the medium term

SpiceJet zooms 29% in two days on plans to acquire bankrupt Go First

As per reports, SpiceJet is among the three entities that have shown late interest in acquiring bankrupt carrier Go First. The other two are Sharjah-based Sky One and Africa-based Safrik Investments.

Market capitalisation of BSE-listed firms hit all time high of Rs 355 trn

The market capitalisation of BSE-listed companies surged to an all-time high of Rs 355 lakh crore on Thursday, with investors becoming richer by Rs 3.83 lakh crore as the benchmark Sensex hit its all-time high level driven by a rally in global equities. Global markets rallied after the US Federal Reserve kept its key interest rate unchanged and signalled that they expect to make three quarter-point cuts to their benchmark interest rate next year. The 30-share BSE Sensex jumped 929.60 points or 1.34 per cent to settle at its all-time closing high of 70,514.20 points. During the day, it zoomed 1,018.29 points or 1.46 per cent to hit its record intra-day peak of 70,602.89 points. The market capitalisation (mcap) of BSE-listed firms hit a record high of Rs 3,55,02,238.83 crore (USD 4.26 trillion). Investors' wealth climbed by Rs 3,83,006.92 crore from Rs 3,51,19,231.91 crore on Wednesday. "The US Federal Reserve's decision to leave rates unchanged lifted the world equity market mood, .

HUDCO zooms 20% on heavy volumes; stock up 51% from OFS price in 2 months

The average trading volumes at the counter jumped four-fold with a combined 181 million equity shares of HUDCO changing hands on the NSE and BSE till 02:48 PM.

This realty stock has zoomed 104% since October; m-cap nears Rs 50,000 cr

Prestige Estates Projects hit a new high at Rs 1,231.95, up 6% in Thursday's intra-day trade and has surged 46% in past one month amid expectation of healthy demand.

Fusion Micro Finance surges 8% after 10% equity change hands on BSE

Till 09:24 AM; around 10.30 million equity shares representing 10.2 per cent of total equity of Fusion had changed hands on the BSE, the exchange data shows.

Stock of this IT firm soars 55% in one month; up 141% from issue price

Netweb Technologies India hit a record high at Rs 1,206.50, and has rallied 10% on the BSE in Tuesday's intra-day trade.

PSBs in focus; BOI soars 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.

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.

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.

Adani's bond rebound almost erase losses incurred from Hindenburg report

The rebound suggests the conglomerate, once termed "deeply overleveraged" by research firm CreditSights, is finding favor with investors again

State-owned cos seen extending rally on PM Modi's expected re-election

Modi's government is spending billions of dollars on everything from roads and railways to defense, renewing interest in a sector that has for long been a straggler of India's $4 trillion stock market

Power stocks in focus; Tata Power m-cap hits Rs 1 trn, Torrent surges 11%

In the past one month, the S&P BSE Power index has surged 27 per cent, against 7 per cent rise in the S&P BSE Sensex.

Bharat Electronics up 4%; hits new high on securing orders worth Rs 3,915cr

With this BEL has in all received orders worth of around Rs 18,300 crore till now in the financial year 2023-24.

90% of Nifty 500 stocks trade above 200-DMA; time to be selective: Analysts

The sharp run up in the markets in the last few sessions has made analysts cautious, who now expect the markets to consolidate before resuming their journey north

Market ends on high for 7th day, Nifty closes at 21,000, Sensex 70,000

Experts suggest that this is a sign that higher interest rates have dampened worker demand and raised bets that the Fed's monetary policy tightening cycle is over

Tata Power soars 6%; hits new high after 20 months on positive outlook

CRISIL Ratings expects Tata Power's consolidated adjusted Ebitda to be more than Rs 12,000 crore each in fiscals 2024 and 2025, against around Rs 11,500 crore in FY23 and around Rs 9,600 crore in FY24

Adani Group stocks soar as US dubs Hindenburg allegations irrelevant

Value of GQG's investment up 75% to $7.5 bn