Benchmarks slip, but end 2023 with up to 20% gains; SmallCap index up 47%

Closing Bell on December 29, 2023: The BSE Sensex is ending calendar year 2023 with a solid gain of 18.8 per cent, and the Nifty50 with 20.1 per cent

1:57 PM

Market check:: SmallCap index up 0.6%; NRB Bearings soars 19%, Railtel 15%

1:46 PM

Techno Electric & Engineering Company wins projects worth Rs 1,750 cr; stock up 3%

Techno Electric & Engineering Company on Friday said it bagged new orders related to smart metering and transmission projects worth Rs 1,750 crore. READ MORE

1:35 PM

Market check:: MidCap index up 0.5%; Voda Idea zooms 17%, Godjrej Inds 6%

1:24 PM

Kalpataru Projects soars 11% on winning new orders worth of Rs 3,244 crore

Shares of Kalpataru Projects International (KPIL) soared 11 per cent to a new peak of Rs 729.55 on the BSE in Friday’s intra-day trade. This came on as the company with its Joint Ventures (JVs) and international subsidiaries secured new orders of Rs 3,244 crore. READ MORE

1:12 PM

Global check:: Asian market mixed in last trading day of 2023

Source: Yahoo Finance

12:59 PM

Record eight-year winning streak seen extending for Indian equities

Indian equities are poised to rise further after capping what will be a record eight-year winning run in 2023, on expectations of continued inflows from retail and foreign investors as well as strong growth in corporate earnings. Read

12:48 PM

Enter 2024 with low return expectations from market, warns Kotak Securities

Even though the Nifty 50 Index is up 20 per cent in the calendar year 2023, brokerage Kotak Institutional Equities has cautioned investors to enter the new year with low return expectations from the market given the conflict between fundamentals. Read

12:33 PM

SME IPO boom has to last so that future billionaires can get funds from mkt

Sam Walton used a $25,000 loan from his father-in-law to open his first store. The venture grew into the retail giant Walmart and made him the richest man in America.
 

Small businesses in India have traditionally relied on similar informal sources of funds to start and sustain their ventures. Read

12:15 PM

This BSE Sensex, Nifty-50 Tata group stock has zoomed over 100% in 2023

Shares of Tata Motors, part of the Tata group, hit a new peak at Rs 801, as they rallied 6 per cent on the BSE in Friday's intra-day trade backed by heavy volumes in an otherwise weak market on healthy business outlook. Read

11:58 AM

Equity market investors turn wealthier by Rs 80.62 trillion in 2023

In a memorable year for the equity market, Dalal Street investors added a whopping Rs 80.62 trillion to their wealth in 2023 as a raft of positive factors powered a stellar rally in stocks.
 

Experts said India's strong macroeconomic fundamentals, political stability owing to the BJP's success in recent elections in three significant states, optimistic corporate earnings outlook, signals from the US Federal Reserve about three prospective rate cuts next year and heavy retail investors participation played a major role in fuelling the stock market rally in 2023. Read

11:44 AM

Many Indian HNIs being asked by foreign banks to shut accounts: Report

Large foreign banks are shutting down the bank accounts of Indian high-net-worth individuals (HNIs) due to the high minimum balance insisted by these banks and the tighter norms by the Reserve Bank of India (RBI), a report by the Economic Times (ET) said on Friday. Read

11:30 AM

PNB gets board approval to raise Rs 7,500 crore through QIP or FPO

The fundraising exercise will be done in one or more tranches during the next financial year, the state-owned bank said in a late-evening regulatory filing. Read

11:14 AM

Retail trading boom doubles turnover of futures and options at NSE

A growing number of Indian investors are plunging into riskier bets, dabbling in stocks with the hope of making quick profits.  
 

The notional turnover of futures and options on the National Stock Exchange of India Ltd. — the world’s largest derivatives bourse by the number of contracts traded — has more than doubled in the last one year. Read

11:01 AM

HPCL, BPCL, IOC: Will petrol, diesel price cut derail rally in OMCs?

Shares of Oil Marketing Companies (OMCs) - Hindustan Petroleum  (HPCL), Bharat Petroleum Corporation (BPCL) and Indian Oil Corporation (IOC) were under pressure in intra-day deals on Friday following reports of a likely cut in petrol and diesel prices. Read

10:48 AM

Tata Coffee, TCPL surge 4%; hit new highs on fixing record date for merger

Shares of Tata Coffee (TCL) and Tata Consumer Products (TCPL) rallied up to 4 per cent, hitting their respective record highs on the BSE in Thursday's intra-day trade after fixing January 15, 2024 as record date for merger. Read