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Sensex drops 378 pts, Nifty holds 20,900; realty, pharma slide; metals up

Closing Bell on December 12, 2023: Sun Pharma, Maruti Suzuki, Titan, NTPC, Reliance Industries, L&T, M&M, IndusInd Bank were some of the top large-cap losers

Image SI Reporter New Delhi
Sensex drops 378 pts, Nifty holds 20,900; realty, pharma slide; metals up

11:01 AM

2 sovereign gold bond tranches in the offing: How do SGBs differ from GMS?

The government will issue a new Sovereign Gold Bond tranche ( 2023-2023 Series III) on 18 December 2023, while Series IV is scheduled for February 12-16. 
SGBs are government securities denominated in grams of gold. They are substitutes for holding physical gold. Investors have to pay the issue price in cash and the bonds will be redeemed in cash on maturity.

Reserve Bank issues the Bond on behalf of the Government of India. he bonds are held in the books of the RBI or in demat form eliminating risk of loss of scrip etc. Read
10:45 AM

Opinion: Desperate retail investors drive India's futures and options craze

An uncontrolled popular urge to speculate in financial markets is giving regulators a headache everywhere. It is especially worrying in India, where trading in futures and options is now more than 400 times bigger than the underlying cash-market turnover. This is a slow transfer of wealth from the real economy to a financial elite, the full impact of which may only be felt when it’s too late to stop it. Read
10:30 AM

This asset has beaten others hands down in 2023 with a rise of 165%

A rise of 165 per cent calendar year-to-date (CYTD) to around $44,000 levels has seen Bitcoin beat other asset classes like equities and gold hands down in 2023. Frontline equity indices across the globe such as the S&P BSE Sensex, Nifty50, S&P BSE Smallcap index, US’ NASDAQ, Japan’s Nikkei 225, France’s CAC 40 and Korea’s KOSPI have returned 12 per cent to 43 per cent during this period. Read
10:15 AM

BNP Paribas sells retail broking arm Sharekhan To S Korea's Mirae

French banking major BNP Paribas has sold its domestic retail broking unit Sharekhan to South Korean financial group Mirae for an undisclosed sum. BNP Paribas spokesperson confirmed the development in an email to Business Standard but refused to divulge any details. A comment from Mirae Asset Financial Group is still awaited. Read
9:58 AM

Dixon surges 13% in 2 days; hits new high on winning contract from Lenovo

Shares of Dixon Technologies (India) (Dixon) hit a new high of Rs 6,764 as they rallied 6 per cent on the BSE in Tuesday's intraday trade after the company's wholly-owned subsidiary Padget Electronics won a contract from Lenovo to manufacture laptops and notebooks under the Production-Linked Incentive (PLI) 2.0 Scheme. Read
9:47 AM

J&K Bank launches QIP to raise Rs 750 crore; stock rallies 7%

The lender launched its qualified institutional placement to raise Rs 750 crore. The floor price for the QIP is set at Rs 112.66 per share, a 10 per cent discount to last close.
9:44 AM

Mankind Pharma falls 4% on likely block deal

As per CNBC-TV18, the company will likely to see a block deal of 7.9 per cent equity today with a total deal size of Rs 5,649 crore.

Beige Investment, Link Investment Trust, Cairnhill CIPEF, Cairnhill CGPE, and Hema CIPEF were reported to be the likely sellers. 
9:42 AM

Dixon Tech zooms 5% as arm wins order from Lenovo

Its wholly-owned subsidiary Padget Electronics has won a contract from Lenovo to manufacture laptops and notebooks, under the Production-Linked Incentive (PLI) 2.0 Scheme. 
9:40 AM

Infosys ticks lower as board appoints Jayesh Sanghrajka as CFO

9:38 AM

Sun Pharma erases opening gains; raises price to acquire remaining stake in Taro

9:36 AM

BLS International surges 6% on getting contract for visa services from HCI in Canada

It has received the contract for outsourcing Consular, Passport, and Visa services from the High Commission of India (HCI) in Canada. This contract encompasses operations at HCI in Ottawa and Consulate Generals of India in Toronto and Vancouver.
9:30 AM

Nifty Media tops sectoral winners

9:27 AM

Broader indices rise more than benchmarks

9:24 AM

ONGC leads losses on Nifty, down 1%

9:22 AM

Insurers, Auto giants lead Nifty gainers

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First Published: Dec 12 2023 | 7:45 AM IST

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