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PremiumSensex Today | Share Market Live Updates: Indian indices opened slightly in the green on Friday but turned volatile in the afternoon before ending the day in positive territory. At close, the Sensex was up 241.86 points or 0.34% at 71,106.96, and the Nifty was up 94.40 points or 0.44% at 21,349.40.
Top gainers on the Nifty included LIC, GAIL, Wipro, HCL Technologies, Tata Motors, Hero MotoCorp and Tech Mahindra, while losers included Grasim Industries, SBI Life Insurance, Bajaj Finance and HDFC Bank. All sectoral indices except Nifty Bank ended in the green. The BSE Midcap index rose 0.7% and Smallcap 1%.
Tokyo stocks trimmed early gains and closed only marginally higher on Friday as markets overseas move into the holiday season. The Nikkei 225 edged up 0.09% or 28.58 points to end at 33,169.05, while the broader Topix index added 0.45% or 10.45 points to 2,336.43.
US markets closed higher on Thursday as economic data fueled optimism that the Fed would ease monetary policy. The Nasdaq rose 1.3%, the S&P 500 1%, and the Dow Jones 0.9%.
The US Q3 GDP numbers were not as robust as originally stated, but revised downward, and cracks seemed to be appearing in the tight labor market, which the Fed considers an obstacle to cooling inflation. The focus now shifts to the personal consumption expenditures (PCE) report due later today.
The rupee ended 12 paise higher at 83.15 per dollar from Thursday's close of 83.27.
Euro zone bond prices fell slightly ahead of the release of the Federal Reserve's preferred measure of inflation after hitting their highest levels in more than nine months the previous day.
At close, the Sensex was up 241.86 points or 0.34% at 71,106.96, and the Nifty was up 94.40 points or 0.44% at 21,349.40.
"The successful closure of the initial tranche of the sovereign gold bond (SGB) at a CAGR of 10.8%, coupled with an additional annual interest of 2.5%, serves as a noteworthy testament of the popularity of this asset class among investors. The incorporation of a 50% discount for transactions conducted through digital modes further enhances its attractiveness. Given
"India's status as the world's leading consumer of gold, SGBs have emerged as a compelling avenue for diversifying investment portfolios. Investors stand to benefit in the long term from the potential capital appreciation of gold prices, all while mitigating concerns related to the security associated with physical gold holdings."
Wipro, Persistent and Mphasis led the gains.
Shares of GAIL (India) hit a new all-time high after rallying 8% on the BSE.
At 3 pm the Sensex was up 322.25 points or 0.45% at 71,187.35, and the Nifty was up 108.60 points or 0.51% at 21,363.60.
Easy Trip Planners has acquired a 13.39% stake in Eco Hotels and Resorts in a 1:1 share swap, the company said in a regulatory filing.
Gold prices hit a nearly three-week high on Friday as rising bets on Fed rate cuts early next year pushed the dollar and bond yields lower ahead of eagerly awaited US inflation data.
Spot gold was up 0.2% at $2,049.20 per ounce as of 0513 GMT, after hitting its highest level since 4 December earlier in the session. Gold is up 1.6% so far this week.
Asian Paints reports minor fire at its plant under construction at Ankleshwar, Gujarat.
British equities slipped in early trading on Friday following a dour GDP reading, though they were set for weekly gains. Investors braced for the latest US inflation data, due later in the day.
At 2 pm the Sensex was down 21.04 points or 0.03% at 70,844.06, and the Nifty was up 8.50 points or 0.04% at 21,263.50.
KPI Green Energy shares are up more than 4% after the company announced it had received new orders from a private entity for a 1.8MW solar power project for its wholly owned subsidiary.
In a stock exchange filing, the company said its KPIG Energia Pvt Ltd received the order from Radhamohan Dyeing and Printing Mills Pvt Ltd, under the captive power producer (CPP) segment.
Britain's gross domestic product shrank in July-September and was flat in the previous three months, according to updated official figures that suggested the economy may now be in a recession.
Shares of Polycab India are down around 5% at ₹5,365 after reports said income tax teams are conducting searches at more than 50 of its premises across India.
Oil prices rose as much as 1% on Friday as tensions persisted in the Middle East following Houthi attacks on ships in the Red Sea, although Angola's decision to leave OPEC raised questions over the group's effectiveness in supporting prices.
Brent crude futures were up 70 cents, or 0.9%, to $80.09 a barrel by 0700 GMT, while U.S. West Texas Intermediate crude futures were up 66 cents, or 0.9%, at $74.55 a barrel.
Both contracts have risen for a second week, each up over 4%, as shipping concerns buoyed prices.
Bharat Electronics (BEL) has received orders worth ₹2,673 crore from Goa Shipyard Limited and Garden Reach Shipbuilders & Engineers for 14 types of sensors used in next generation offshore patrol vessels. It has also received additional orders worth ₹86.15 crore.
At 1 pm the Sensex was up 294.00 points or 0.41% at 71,159.10, and the Nifty was up 96 points or 0.45% at 21,351.
Tokyo stocks trimmed early gains and closed only marginally higher on Friday as markets overseas move into the holiday season.The benchmark Nikkei 225 index edged up 0.09% or 28.58 points to end at 33,169.05, while the broader Topix index added 0.45% or 10.45 points to 2,336.43.
The dollar stabilised above a more than four-month low on Friday, with a key US inflation gauge due later in the day that could offer clarity on how much room the Fed has to cut interest rates next year.
The dollar hit a five-month low against the New Zealand dollar and a three-week low against the euro in early Asia trade before turning positive later in the session.
Railtel shares have rallied over 3% after the company received a ₹66.83-crore work order from NF Railway Construction.
Kaynes Technology has approved the allocation of 57.75 lakh equity shares as part of its QIP. The issue price is ₹2,424, a 1.06% discount to the floor price.
At 12 pm the Sensex was up 358.58 points or 0.51% at 71,223.68, and the Nifty was up 127.80 points or 0.60% at 21,382.80.
State Bank of India will sign on Friday a $165 million line of credit from World Bank to support grid-connected rooftop solar PV projects in the residential and institutional sectors.
The government, which is battling high food inflation, has extended the exemption from the agriculture and infrastructure development cess on imported masur dal by a year, according to an order from the Central Board of Indirect Taxes and Customs (CBIC). The exemption, effective since October 2021, will now last until 31 March 2025.
The company has denied reports that it acquired Shiprocket for $2 billion. It said it continues to focus on the existing business and has no plans to make an acquisition at this point.
A PMLA court has granted bail to former Yes Bank chief Rana Kapoor on a ₹3 lakh bond, CNBC-TV18 reported.
The boards of Allcargo Logistics and Allcargo Gati on Thursday approved the restructuring of the two businesses, under which the international supply chain business will be hived off into a separate entity called Allcargo ECU Ltd.
At 11 am the Sensex was up 361.77 points or 0.51% at 71,226.87, and the Nifty was up 128.80 points or 0.61% at 21,383.80.
Adani Green Energy is up nearly 1% a day after Bloomberg reported that the parent group was planning to invest $1 billion into the renewable arm, driving the stock up 4%. According to the report, Gautam Adani and his family plan to inject $1 billion into the renewable energy unit as part of the group's aim to achieve its "ambitious green goals while facing maturing bonds next year". The company aims to hit 45 gigawatts of green-energy capacity by 2030.
Tata Motors' stock is up around 3% after the BSE and NSE have granted a no-objection certification for the cancellation of Tata Motors DVR shares. Sebi has issued multiple comments on the draft scheme of arrangement.
The rupee rose 2 paise to 83.25 against the US dollar in early trade on Friday, tracking lower greenback on the back of easing US bond yield. However, muted trend in domestic equity markets, unabated outflow of foreign funds and increased volatility in crude oil prices triggered by geopolitical situation put pressure on the Indian currency, forex traders said.
The company has entered into a share purchase agreement with MAVM Angels to acquire the remaining 9% stake and make it a wholly owned subsidiary. 360 ONE WAM acquired a 91% stake in the company in November 2022.
At 10 am the Sensex was up 209.08 points or 0.30% at 71,074.18, and the Nifty was up 79.30 points or 0.37% at 21,334.30.
The income tax department is conducting searches at 50 premises of Polycab India across India, reports CNBC-TV18.
"The market signal is that Wednesday’s sharp correction was a one-day event and not a reversal of the uptrend. This confirms the success of the buy on dips strategy, which has played out consistently in the ongoing rally. Global cues continue to be favourable with the dollar index below 102 and the US 10-year bond yield hovering around 3.9%.
“The concern in the market now is the excessive valuations in the mid and small cap segments. Retail exuberance and sustained flows into the mid and small cap mutual funds are driving this rally, which has slipped into a frothy zone. This broader market rally cannot continue for long. Safety is as important as returns. Undoubtedly safety is in large caps now. Going forward, large caps are likely to outperform mid and small caps."
Himanshu Agarwal will be appointed CFO of the company from January 2, replacing Subba Rao Parupalli, who has resigned. Agarwal previously worked with Akzo Nobel India, Astra Zeneca Pharma and Bennett & Coleman.
About 2.4 crore shares (6.5% of equity) worth ₹1,358 crore of the company have changed hands at an average of ₹555, CNBC-TV18 reported.
On Thursday the company said the Department of Economic Affairs has given it 10 years to achieve a minimum of 25% public shareholding instead of the usual three years. The government said the decision was taken in the “public interest".
The state-owned manganese ore mining company announced that production crossed 16 lakh tonnes this calendar year (as of 20 December), 26% higher than the previous record, set in 2019.
At open, the Sensex was up 18.36 points or 0.03% at 70,883.46, and the Nifty was up 16.30 points or 0.08% at 21,271.30.
The footwear company said Pankaj Gupta will resign as head of retail and franchisee operations and move to a global position in the Bata group from 1 March 2024.
Its subsidiary GMR Airports signed an agreement with the National Investment and Infrastructure Fund (NIIF) to invest ₹675 crore in the upcoming airport at Bhogapuram in Andhra Pradesh.
Gold prices gained on Thursday as US Treasury yields retreated after economic data fuelled expectations for the Federal Reserve to cut interest rates in March next year. Spot gold was up 0.6% at $2,041.27 per ounce as of 1735 GMT. US gold futures rose 0.3% to $2,053.20.
The dollar languished near a more than four-month low on Friday. A reading on a key US inflation gauge due later in the day will provide further clarity on how much room the Fed has to cut interest rates next year.
The greenback hit a five-month low against the New Zealand dollar and a three-week low against the euro in early Asia trade, resuming its decline after a sudden bout of risk aversion in New York hours on Wednesday led to a selloff in US stocks and a rise in the dollar.
The Department of Economic Affairs has granted the company 10 years to achieve a minimum of 25% public shareholding instead of the usual three years. It said the decision was taken in the “public interest".
The GIFT Nifty is trading at a premium of more than 40 points over Nifty Futures' Thursday close, indicating a start in the green for the Indian market.
Oil is poised to advance for a second week as shippers avoid the Red Sea amid increased attacks, while Angola’s exit from OPEC put the spotlight on the group’s unity.
West Texas Intermediate traded near $74 a barrel and is set for a second weekly gain after notching a string of seven declines. Tanker traffic in the Red Sea has plummeted after Iran-backed Houthi rebels in Yemen increased attacks on vessels in the region. Angola announced it’s leaving OPEC after 16 years, highlighting tensions within the producer group as it seeks to limit output going into the new year.
