Bull run extends on D St! Sensex leaps 353 pts, Nifty nears 20,950

Closing Bell on December 6, 2023: The benchmarks on the BSE and NSE, along with the MidCap index, hit fresh lifetime highs today

11:51 AM

LIC extends rally, surges 23% in two weeks; hits highest level in CY 2023

The stock rallied 5% to Rs 750.55 on the BSE in the intraday trade, quoting close to its 52-week high level of Rs 754.40 touched on December 20, 2022 READ MORE

11:42 AM

ALERT :: EKI Energy partners with Indian Oil Corp for sustainable indoor solar cooking system 'Surya Nutan'

>> Indian Oil will share the technology of "Surya Nutan" with EKI to enhance its production and distribution, supported by carbon finance while contributing towards the betterment of society and environment.

>> EKI will oversee the end-to-end management of 'Surya Nutan' encompassing manufacturing, marketing, installation, and the provision of after-sales services.

>> This will be achieved by leveraging carbon finance, corporate social responsibility, or any other similar means.

11:29 AM

Buzzing stock :: Angel One vaults 7% post Nov business update

>> Client base up 51.3% YoY  & up 3.8% MoM at 18.45 million

 

>> Number of orders up 51.4% YoY & up 1.2% MoM at 107.21 million

 

11:17 AM

ALERT :: Hindustan Zinc approves second interim dividend of Rs 6/share

>> The Board of Directors of the Company have approved second interim dividend of Rs 6 per equity share on face value of Rs. 2/- per share for the Financial Year 2023-24

>> This would amount to Rs 2,535.19 crore

>> The record date is Thursday, December 14, 2023.
 

11:04 AM

ALERT :: 9 of 10 Adani Group stocks extend rally; Adani Total Gas leaps 18%

10:54 AM

Patanjali Foods hits record high on healthy biz outlook; soars 24% in 2 mths

The proportion of food business for Patanjali increased from 20 per cent to 28 per cent in the first half of current financial year 2023-24 (H1FY24). Product launches, focus on premiumisation, and expansion and diversification of distribution channels remain core focus areas for driving topline growth as well as margins ahead.  READ MORE

10:42 AM

Fed cut expectations 'overdone,' volatility to jump in 2024: BlackRock

"Market pricing for rate cuts is a bit overdone in our view," said Wei Li, Global Chief Investment Strategist for BlackRock. "Rate volatility is here to stay." Markets are currently pricing in a greater than 50% chance that benchmark rates fall more than 125 basis points by next December, according to CME's FedWatch Tool. Benchmark 10-year Treasury yields have fallen more than 80 basis points over the last month following signs of cooling inflation and weakness in the labor market, bolstering market assumptions that the Federal Reserve is done with its rate hiking cycle. READ MORE

10:27 AM

Higher credit demand likely to lead to further upsides for banks

Large private banks are trading at relatively low valuation premiums to public sector (PSU) banks compared to historical premium levels. PSU bank shares have outperformed the Nifty Bank, which is weighted in favour of large private banks. Earnings per share upgrades for PSUs have also been higher. READ MORE

10:15 AM

ESMA in 'active' talks with RBI to resolve Clearing Corporation impasse

"Esma is currently actively engaged in negotiations with the Indian authorities regarding a potential EMIR (European Market Infrastructure Regulation)-compliant MoU," a spokesperson for the European Union's securities watchdog told Business Standard over email. READ MORE

9:59 AM

Sector check :: Nifty IT up 1.6%; all 10 stocks in green

9:47 AM

Comment :: 'Despite bullish undertone, markets to consolidate in near-term'

Even though the undertone is bullish, the market is likely to consolidate in the near-term since up moves will be countered with profit booking by DIIs and individual investors who are sitting on big profits.

Dips will be bought by FIIs who have emerged as sustained buyers. The continuous decline in US bond yields (the 10-year yield is now below 4.20%) will ensure FII buying.

During the medium term, in the run up to the General elections, the market is likely to move up aided by three factors: one, expectations of political stability after the elections; two, favourable domestic macros like strong GDP growth, declining inflation, stable interest rates and soft crude; and three, favourable global cues from declining US bond yields.
 

Bank Nifty will continue to be resilient.

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

9:38 AM

SBC Exports climbs 2% as Board approves issue of bonus shares in 1:2

9:36 AM

Somany Ceramics up 1% as it fixes Dec 15 as buyback record date

9:34 AM

Zee Learn dips 2% as Axis Bank initiates insolvency proceedings against subsidary

>> Axis Bank has initiated Corporate Insolvency Resolution Process (CIRP) against Digital Ventures Private Limited, wholly-owned subsidiary of Zee Learn.

 

9:33 AM

Bank of India off opening highs; opens QIP at floor price of Rs 105.42 per equity share

>> A meeting of the Capital Issue Committee is scheduled to be held on December 8, 2023 to consider and approve the issue price, including a discount, if any, for the equity shares to be allotted to Qualified Institutional Buyers