Tuesday, January 07, 2025 | 07:33 PM ISTEN Hindi

Sensex ends choppy trade 70 pts higher, Nifty tops 13,750; IT stocks shine

The broader markets ended in the red for second straight day.

SI Reporter New Delhi

12:36 PM

Mutual fund assets likely to touch Rs 50 trillion by 2025, says Crisil

The assets under management (AUM) for the industry will achieve the Rs 50-trillion milestone by 2025, says CRISIL. At the end of last month, it stood at Rs 30 trillion.

"Over the five years through 2025, CRISIL expects industry AUM to continue its double-digit growth and cross the Rs 50-trillion mark. Growth triggers include increased financialisation of savings, India’s favourable demographics, rising per-capita income, and an inflation-targeting regime," said CRISIL MD and CEO Ashu Suyash.

12:28 PM

SSWL receives new orders for Rs 3.2 crore from EU; stock up 2%

Steel Stripes Wheels in a BSE filing informed exchanges that it has received orders of nearly 51,000 wheels for EU market worth EUR 355,000 (Rs 3.2 crore). Following this development, the stock was up 2 per cent on BSE at Rs 523.50.

12:22 PM

Move over bonds. It is stocks' turn in spotlight of emerging markets

Stocks are edging out bonds as the choice of 2021 in emerging markets. The world’s biggest money managers, from BlackRock to JPMorgan and UBS, are betting the post-pandemic economic recovery will be so swift that it’s no longer necessary to be content with the single-digit yields of developing-nation debt. Equities will offer much higher returns in 2021, they say, in a signal that a decade of underperformance may come to an end. READ MORE

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12:12 PM

Nifty IT index, Infosys, TCS at record high; charts signal more upside

NIFTY IT INDEX: After crossing 22,500 firmly, the index has never seen any major weakness. Now at a new all-time high, over 23,000 levels, the index is set to rally ahead in short-term. The immediate levels come at 23,500 and 25,800. The closing basis support is placed at 23,000 mark. The gap-up opening on December 18, 2020, suggests a positive momentum which, if it receives follow-up buying, may see an aggressive upside.. READ MORE

Blowout quarterly earnings reported by some of India’s biggest software firms in July have boosted shares

12:07 PM

NEWS ALERT :: Pfizer applies for Covid-19 vaccine approval in Japan

12:02 PM

Buzzing Stock :: KNR Constructions hits 52-week high ahead of Board meet

Shares of KNR Constructions hit a fresh 52-week high of Rs 332, up 4.4 per cent, on the BSE on Friday ahead of the company's board meeting due later today to consider bonus issue proposal. In the past one week, stock of the construction & engineering company has rallied 12 per cent, as compared to a 1.5-per cent gain in the S&P BSE Sensex. READ MORE

11:52 AM

Accenture's strong Q1FY21 results make analysts bullish on Indian IT stocks

The information technology (IT) space was outperforming the benchmarks in trade on Friday, a day after Ireland-based Accenture reported strong earnings for quarter ended November 30 (Q1FY21) and revised upwards revenue growth forecast for full fiscal year of 2021 to 4 – 6 per cent from an earlier estimate of 2 – 5 per cent. At the index level, the Nifty IT index hit a record high of 23,408, up 2 per cent on the NSE in intraday trade. In comparison, the benchmark Nifty50 index was down 0.5 per cent at 13,676. READ MORE

market, markets, stock market, stock, stocks rise, stock rally

11:45 AM

Chris Wood cuts exposure to gold, invests in Bitcoin

The spectacular surge in Bitcoin over the past few months has lured traders and investors to the cryptocurrency. The spurt over the last few weeks has now prompted Christopher Wood, global head of equity strategy at Jefferies to trim exposure in gold in favour of bitcoin in his long-only global portfolio for US dollar-denominated pension funds, which was established at the end of the third quarter of calendar year 2002 (Q3-02). READ MORE

11:37 AM

MARKET NOW | Sensex off day's low but still down 100 points

11:30 AM

Pidilite rises 4%, nears record high on heavy volumes

Shares of Pidilite Industries jumped 4 per cent to Rs 1,699 on the BSE in the early morning deals on Friday on the back of heavy volumes in an otherwise subdued market. The stock of the specialty chemicals' firm was trading close to its all-time high level of Rs 1,710 touched on March 11, 2020. READ MORE

11:19 AM

News Flash | US to blacklist dozens of Chinese firms

- US to blacklist 80 companies on Friday, nearly all from China

11:17 AM

Global investors are dumping Indian bonds. But why?

Even when viewed in isolation, the $14 billion outflow from India’s bond market in 2020 is remarkable: Foreign investors have never sold so much in a single year.

That they did so at a time when Chinese bonds are attracting record foreign inflows underscores just how frustrated some money managers have become with the pace of capital-market reforms by Narendra Modi’s government. READ MORE

Robust foreign inflows, fundraising by banks help rupee fight August curse

11:04 AM

BEML gains 5% as Porinju's firm picks stake; stock surges 51% in five weeks

Shares of BEML rallied 5 per cent to hit a 10-month high of Rs 923 on the National Stock Exchange (NSE) on Friday after bulk deal data showed that Porinju Veliath's Equity Intelligence India bought 265,000 shares of the company at Rs 847.63 per share on Thursday. The name of the seller could not be immediately ascertained. READ MORE