Sensex hits 63K, gains 418pts; Nifty ends at record high of 18,750

CLOSING BELL: The S&P BSE Sensex scaled a new summit at 63,303, and settled above 63,000-mark for the first-time ever. The Nifty 50 hit a new all-time high at 18,816 on Wednesday.

9:45 AM

Spandana Sphoorty jumps nearly 3% on plans to raise funds

Spandana Sphoorty Financial board is scheduled to meet on December 02 to consider and approve fund raising though issue of debentures on private placement basis.

9:43 AM

Gland Pharma tanks 4%; co inks deal to buy French based Cenexi Group

The company has entered into a put option agreement to acquire French firm Cenexi Group for an equity value not exceeding 20 million euros (approx. Rs 1,000 crore) to expand its contract development and manufacturing business in Europe. READ MORE

9:39 AM

Zomato trades flat amid heavy volume, 34.22 cr shares traded on NSE

According to reports, Alibaba Group Holding was planning to sell about 3 per cent stake worth $200 million through a block deal today. READ MORE 

9:35 AM

Britannia gains 1% on JV with French cheese maker

Britannia Industries has entered into a joint venture with French cheese maker Bel SA to develop, manufacture, market, distribute, trade and sell cheese products in India and certain other territories. READ MORE

9:33 AM

Adani Enterprises rises a day after Group wins Dharavi redevelopment bid

Adani Properties on Tuesday won the bid for the renovation of Dharavi, Mumbai, in bid worth Rs 5,069 crore. The project is expected to be completed in 17 years. READ MORE

9:31 AM

COMMENT :: Markets to closely track US Fed chief's observations later tonight

An important feature of the ongoing rally which has taken the Sensex and Nifty to record highs is that this is a mature rally led by high quality stocks in performing sectors. There is no celebration in the market because this rally has largely bypassed the broad market.

While the Nifty is up 7.2% YTD, the Nifty Small cap Index is down by around 12% YTD. So, the vast majority of retail investors whose portfolios are predominantly small cap oriented, have not benefited from this rally. This experience also underlines the importance of investing in quality stocks.

Since the valuations are elevated from a near-term perspective, there is no scope for the rally to continue unabated. Profit booking and DII selling at higher levels can trigger corrections.

The Fed chief’s observations today will be important for global markets. Markets expect indications of slowing down the rate hikes. Any comments to the contrary will be negative for markets

 

Views by: Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services 
 

9:29 AM

Broader market :: BSE SmallCap index up 0.34%

9:26 AM

Broader market check :: BSE MidCap index up 0.26%

9:23 AM

Sectoral trends :: IT weak in a firm market; metals lead

9:20 AM

HEATMAP | 6 of 30 stocks decline; Dr Reddy's, M&M

9:19 AM

OPENING BELL | Nifty jumps nearly 50 pts; only 9 stocks fall

9:17 AM

OPENING BELL | Sensex opens with 100 points-gain

9:10 AM

PRE-OPEN SESSION | Nifty likely to open flat

9:08 AM

PRE-OPEN SESSION | Sensex edges 60 pts higher

9:02 AM

CURRENCY ALERT | Rupee strengthens 8 paise to open at 81.64/$