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Business News/ Markets / Stock Markets/  Market Highlights: Indices end at record highs on dovish Fed; Sensex jumps 930 points led by IT stocks
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Market Highlights: Indices end at record highs on dovish Fed; Sensex jumps 930 points led by IT stocks

Market Close: Indices hit record highs on Thursday with the Sensex surging 1,000 points and Nifty soaring above 21,200 intraday as the Fed's decision spurred rate cut hopes. The Nifty IT jumped nearly 3.5% 

Sensex Today | Share Market Live Updates: Indian stock markets closed at record high. (PTI)Premium
Sensex Today | Share Market Live Updates: Indian stock markets closed at record high. (PTI)

Market Closing: India's benchmark stock indices hit new record highs on Thursday, buoyed by a global market rally that extended to regional markets. The S&P BSE Sensex surged 1,000 points and Nifty 50 climbed above 21,200 intraday. The Sensex ended at 70,514.20, up 929.60 points, while the Nifty closed at 21,182.70, up 256.35 points. This surge followed the U.S. Federal Reserve's indication of nearing an end to its monetary tightening cycle, which also raised expectations for a rate cut in March 2024.

The Nifty 50 index climbed above 21,200, and the S&P BSE Sensex surged 1,000 points. All major sectors recorded gains with IT and realty leading the pack. The information technology sector saw a significant jump of 3%. Leading the Nifty 50 gainers were IT companies like HCLTech, Tech Mahindra, LTIMindtree, Infosys, and Wipro.

While the Fed maintained current rates, its "dot plot" revealed expectations of a 75 basis point decrease in rates by 2024. This projection of rate cuts is more aggressive than previously suggested in September.

Meanwhile, India's Wholesale Price Index-based Inflation rose to 0.26% in November from -0.52% in October. The Indian rupee rose by 7 paise to close at 83.33 (provisional) against the US dollar.

14 Dec 2023, 03:34:26 PM IST

Market Closing: Sensex, Nifty end at record highs as Fed indicates rate cuts next year

India's benchmark stock indices hit new record highs on Thursday, tracking global markets and a rally in IT, bank and realty stocks. The S&P BSE Sensex surged 1,000 points and Nifty 50 climbed above 21,200 intraday. The Sensex ended at 70,514.20, up 929.60 points, while the Nifty closed at 21,182.70, up 256.35 points. Midcap and small-cap indices also surged in line with the benchmarks. Infosys, Tech Mahindra and Wipro were the chart toppers while Power Grid and Nestle lagged. Meanwhile, the Indian rupee rose by 7 paise to close at 83.33 (provisional) against the US dollar.

BSE
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BSE
14 Dec 2023, 03:27:01 PM IST

Sensex Today Live: Hindalco at 52-week high, experts recommend ‘buy’

Hindalco has been in focus this week after the company announced its plan to set up a battery foil manufacturing facility at Sambalpur in Odisha with an investment of 800 crore to tap the fast-expanding electric vehicle market.

Prabhudas Lilladher has a positive view on the stock and raised its target price of 583 from 557 earlier, indicating an upside of 10.5 percent.

14 Dec 2023, 03:12:40 PM IST

Sensex Today Live: Zydus Lifesciences gets US FDA nod to produce cyclophosphamide capsules

Zydus Lifesciences Ltd, along with its subsidiary companies, has secured the final nod from the US Food and Drug Administration to produce Cyclophosphamide Capsules USP in both 25 mg and 50 mg variants. Cyclophosphamide is a chemotherapy drug recognized for its ability to slow down the growth of cancer cells. I

14 Dec 2023, 03:01:42 PM IST

Sensex Today Live: Midcap index jumps 1% led by IRFC, SAIL and Mphasis

Midcap index jumps 1% led by IRFC, SAIL and Mphasis which gained 7-11%.

BSE
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BSE
14 Dec 2023, 02:50:14 PM IST

Sensex Today Live: ADB raises India's growth projection to 6.7% for FY24

The Asian Development Bank (ADB) has raised India's growth forecast to 6.7% for the current financial year from its earlier projection of 6.3% on account of higher-than-expected second quarter numbers.

14 Dec 2023, 02:37:58 PM IST

Sensex Today Live: Shares gain globally as Federal Reserve  hints at rate cuts next year

Shares largely gained in Asia on Thursday following a robust rally on Wall Street that propelled the Dow Jones Industrial Average to a record peak. This surge was spurred by signals from the Federal Reserve suggesting interest rate cuts next year. In Europe, stock markets also saw a jump on Thursday, driven by increases in the real estate sector and a drop in euro zone bond yields. 

Tokyo's Nikkei fell as the yen gained sharply against the US dollar. Hong Kong's Hang Seng index climbed 1.1% and the Shanghai Composite slipped 0.3%. Australia's markets jumped 1.7%. The pan-European index rose 1.6%.

14 Dec 2023, 02:24:28 PM IST

Sensex Today Live: Mcap of BSE-listed firms jumps to record high of ₹354.41 lakh crore: PTI

The market capitalisation of BSE-listed companies surged to an all-time high of 354.41 lakh crore on Thursday, with investors becoming richer by 3.22 lakh crore, as the benchmark Sensex hit its all-time high level driven by a rally in global equities.

14 Dec 2023, 02:16:51 PM IST

Sensex Today Live: INOX India IPO fully subscribed so far on day 1

The initial public offer of the cryogenic equipment maker has been fully subscribed by 0145pm. The shares are available at a premium of 330 in grey market today. The IPO price band has been set at 627 to 660 per share. The company aims to raise 1,459.32 crore from the offer.

14 Dec 2023, 02:05:40 PM IST

Sensex Today Live: Sensex surges 1,000 points around 2pm, Nifty above 21,200; all sectors, barring media, in the green

Sensex surged 1,000 points around 2pm, Nifty above 21,200; all sectors, barring media, in the green

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14 Dec 2023, 01:50:10 PM IST

Sensex Today Live: Adani Green Energy to incorporate two step-down subsidiaries

Adani Green Energy on Thursday announced the incorporation of two new subsidiaries--Adani Renewable Energy Fifty One Ltd and Adani Renewable Energy Fifty Five Ltd , as per a BSE filing.

 

14 Dec 2023, 01:40:54 PM IST

Sensex Today Live: Tata Capital eyes fashion brand Rare Rabbit at $300 million valuation: Reuters

Tata Capital, the financial services division of the Tata conglomerate, is reportedly in talks to acquire nearly a 13% stake in the high-end domestic fashion label Rare Rabbit, Reuters reported. 

14 Dec 2023, 01:27:14 PM IST

Sensex Today Live: Nifty Financial Services surges 1.5%; Shriram Finance, Cholamandalam Finance soaring 3-5% 

Nifty Financial Services surged 1.5% in line with positive sentiment in banking stocks that rose after the Fed decided to pause rate hike and gave hope of rate cuts next year. Shriram Finance, Cholamandalam Finance and Bajaj Finance soared 3-5%.

NSE
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NSE
14 Dec 2023, 01:11:51 PM IST

Sensex Today Live: NBCC stock jumps nearly 6% to new 52-week high on ₹1,500 crore order win

Shares of the state-owned construction firm jumped 5.6% to hit a fresh 52-week high of 84.75 apiece after the company bagged an order worth 1,500 crore. On Wednesday, the company said it had received the work order from the National Cooperative Development Corporation (NCDC) and Primary Agriculture Cooperative Society (PACS) in various states.

14 Dec 2023, 12:57:43 PM IST

Sensex Today Live: S&P Global Ratings downgrades Vedanta Resources' rating to ‘CC’

S&P Global Ratings has revised Vedanta Resources' (VRL) rating downwards from 'CCC' to 'CC' due to worries over the extension of certain bond maturities, Reuters reported. London-based VRL is the parent of Indian miner Vedanta.

 

14 Dec 2023, 12:46:11 PM IST

Sensex Today Live: Raamdeo Agrawal on how to generate hockey stick returns

“There is a demand for Indian equities and, because of that, there will be massive supply of equity. That is why you are seeing block deals. India will be one of the most vibrant capital markets in the world in the next five years," said Raamdeo Agrawal, co-founder and chairman of Motilal Oswal Financial Services. Read here for more insights on the markets.

14 Dec 2023, 12:33:46 PM IST

Sensex Today Live: India November WPI Inflation at 0.26% vs -0.52% in October

India's Wholesale Price Index-based Inflation rose to an eight-month high of 0.26% in November from -0.52% in October. Vegetable inflation surged to 10.44% against -21.04% a month ago.

14 Dec 2023, 12:21:07 PM IST

Sensex Today Live: This smallcap stock is all set to surf the sustainability wave

EPL Ltd, formerly known as Essel Propack, is the world's largest specialty-packaging company, making everything from laminate sheets to finished tubes. Is it right for your portfolio? Equitymaster explains (Read here)

14 Dec 2023, 12:08:05 PM IST

Sensex Today Live: Markets hover around record highs in noon trade; IT, realty stocks lead gains 

Indian equity markets hovered around record highs in noon trade with Sensex and Nifty gaining 1.2%; IT, realty indices led gains among sectors which were mostly in the green. FMCG index was the lone laggard.  

BSE
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BSE
14 Dec 2023, 11:54:30 AM IST

Sensex Today Live: Nifty Realty surges nearly 3%; Brigade Enterprises, Godrej Properties jump 4-5%

The Nifty Realty index surged nearly 3% with Brigade Enterprises and Godrej Properties jumping 4-5%. DL Ltd and Sobha Ltd soared over 3% each.

NSE
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NSE
14 Dec 2023, 11:40:00 AM IST

Sensex Today Live: DOMS Industries IPO subscribed 8.07 times on day 2

DOMS Industries IPO subscribed 8.07 times on the second day. DOMS IPO retail investors portion has been subscribed 25.72 times, NII portion subscribed 12.19 times, and Qualified Institutional Buyers (QIB) portion 6%. The employee portion was subscribed 11.66 times.

DOMS IPO has received bids for 7,12,91,736 shares against 88,37,407 shares on offer, at 11:30 IST, according to data from the BSE.

14 Dec 2023, 11:27:45 AM IST

Sensex Today Live: Ultratech Cement up 2%; plans to increase overall share of green energy in its total energy mix

The cement and ready-mix concrete maker plans to increase the overall share of green energy in its total energy mix to 85% by 2030. The AV Birla Group company plans to increase its total green energy share from its current 22% to 60% by FY26.

14 Dec 2023, 11:14:56 AM IST

Sensex Today Live: Nasdaq reverses some stock orders after glitch hits trades: Bloomberg

14 Dec 2023, 11:08:26 AM IST

Sensex Today Live: ICICI Bank, Infy, Reliance, TCS top contributors to the rally on Sensex

Heavyweights ICICI Bank, Infy, Reliance, and TCS are the top contributors to the rally on Sensex at this hour

BSE
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BSE
14 Dec 2023, 10:56:36 AM IST

Sensex Today Live: Rupee gains after dovish Federal Reserve fuels rate cut hopes 

The Indian rupee recovered, gaining 13 paise to 83.27 against the US dollar on Thursday after the US dollar showed weakness in international markets, following the US Federal Reserve's indication of a potential interest rate cut next year. Previously, the rupee had recorded an all-time low closing at 83.40 on Wednesday.

14 Dec 2023, 10:43:50 AM IST

Sensex Today Live: IRCTC hits 52-week high as co plans to expand its brand

IRCTC hits a 52-week high as the Indian Railways' arm is branching out to expand its brand and business reach beyond the railway catering. The organization aims to broaden its catering services nationwide.

14 Dec 2023, 10:29:02 AM IST

Sensex Today Live: Ireda hits record high; shares triple within 10 days of listing 

Ireda stock hits record high; share prices triple within 10 days of listing

BSE
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BSE
14 Dec 2023, 10:17:07 AM IST

Sensex Today | Share Market Live Updates: NBCC jumps 3.5%  on contract win

The state-owned company has bagged a 1,500 crore project management consultancy contract for the construction of 1,469 warehouses and other infrastructure related to the agriculture sector. NBCC has bagged the work order from National Cooperative Development Corporation and Primary Agriculture Cooperative Society in various states.

14 Dec 2023, 10:03:21 AM IST

Sensex Today Live: BSE midcap index surges 0.7%; Mphasis, Sail gain 5% each

The BSE midcap index surged 0.7% in line with the benchmark index; Mphasis and Sail gained 5% each

 BSE
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BSE
14 Dec 2023, 09:49:21 AM IST

Sensex Today Live: Banking stocks shine as Fed's dovish stance fuels rate cut hopes

Banking stocks gained on Thursday as Fed's dovish policy stance fuelled rate cut hopes among investors. Indusind Bank, Bandhan Bank and ICICI Bank lifted the Nifty Bank index by 1.2%.

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14 Dec 2023, 09:41:29 AM IST

Sensex Today Live: Nifty IT up 3% led by TCS, Wipro, Infosys

After a drop on Wednesday, IT stocks made a comeback to trade higher with the Nifty IT trading a whopping 3% higher

NSE
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NSE
14 Dec 2023, 09:31:10 AM IST

Sensex Today Live: Sensex surges 750 points at open led by IT, banks

BSE
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BSE
14 Dec 2023, 09:16:25 AM IST

Sensex Today | Share Market Live Updates: Sensex, Nifty hit new high at open tracking global markets

14 Dec 2023, 09:12:31 AM IST

Sensex Today Live: Rupee opens at 83.27 per US dollar vs Wednesday’s close of 83.40

The Indian rupee opened at 83.27 per US dollar vs Wednesday’s close of 83.40. Dollar index slipped below 103.

14 Dec 2023, 09:05:34 AM IST

Sensex Today Live: Sensex, Nifty higher in pre-open tracking global markets

Sensex and Nifty were sharply higher in pre-opening session tracking global markets, Sensex was at 69,992.85, up 408.25 points at 0905am.

14 Dec 2023, 08:59:46 AM IST

Sensex Today Live: Uniform packaging rules set to ring in lower logistics costs

India’s logistics companies, which handle millions of items, will soon have to follow uniform packaging standards at their cavernous warehouses. The government is working on packaging standards that would mandate optimum space utilization in warehouses, a move that would support its objective of lowering its logistics costs from a high 14-15% of gross domestic product (GDP) to the 7-8% seen in advanced economies. (Read more)

14 Dec 2023, 08:50:54 AM IST

Sensex Today Live: For PI Industries, new competition, demand concerns play spoilsport

PI Industries Ltd’s shares have fallen by about 11% in the past two trading days. The stock’s returns remain flattish in 2023. Concerns have surfaced recently, especially about rising competition for key product, pyroxasulfone. (Read more)

14 Dec 2023, 08:37:25 AM IST

Sensex Today Live: Market outlook: Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher

"Nifty once again witnessed some profit booking in the initial half scaling the low of 20,770 zone and thereafter, recovered strongly to end on a flat note indicating a “Bullish Hammer" pattern on the daily chart to maintain the positive bias and anticipating for further rise. Once again, as mentioned earlier, the index would need a decisive breach above 21,100 levels to carry on with the uptrend and expect for next higher targets of 21,800-21,900 levels in the coming days with major support lying near 20,550 zone of the rising trendline zone."

Parekh recommended three intraday stocks for today -- Jai Corp, Radico Khaitan and Greenpanel Industries.

14 Dec 2023, 08:24:47 AM IST

Sensex Today Live: Crude oil prices climb as Fed's stance seen fuelling growth 

Oil prices saw an uptick in early Asian trading on Thursday following a larger-than-expected withdrawal from U.S. crude oil reserves and the Federal Reserve's indication that it plans to reduce borrowing rates starting in 2024.

The prospect of lower interest rates typically leads to reduced borrowing costs for consumers, which can stimulate economic growth. Brent futures saw a rise of 46 cents, or 0.6% to $74.72 per barrel. West Texas Intermediate crude also rose by 48 cents, or 0.7%, to close at $69.95.

14 Dec 2023, 08:13:17 AM IST

Sensex Today Live: Stocks to Watch: SBI, Ultratech Cement, Biocon, Niva Bupa, NBCC

SBI, Ultratech Cement, Biocon, Niva Bupa, NBCC, Sunteck Realty, JSW Energy, Uno Minda are some stocks to watch today

14 Dec 2023, 07:59:16 AM IST

Sensex Today Live: Asian markets rise tracking Wall Street as Fed signals rate cuts next year

Asian markets followed a worldwide surge in stocks and bonds, fueled by indications that the Federal Reserve may lower interest rates next year. Global stock index rose for the sixth consecutive session, with Australian and South Korean markets opening on a higher note. However, Japanese stocks lagged slightly behind the regional trend, partly due to a strengthening yen. These gains mirrored a Wall Street rally that lifted the S&P 500 to its highest point in almost two years. In early trading in Asia, U.S. futures also saw an upward movement.

14 Dec 2023, 07:47:42 AM IST

Sensex Today Live: Gift Nifty signals strong start for Indian indices; SBI, Biocon, NBCC in focus 

The Gift Nifty is trading at a premium of more than 200 pts from Nifty Futures, indicating a strong start for the Indian market amid dovish Fed policy. The Gift Nifty was trading around the 21,222 mark, a rise from the Nifty futures' last closing at 21,035.

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