KEY HIGHLIGHTS
Yield On The 10-Year Bond Ends Lower
The yield on the 10-year bond closed 4 bps lower at 7.17% on Friday.
Source: Bloomberg
Rupee Weakens Against The U.S. Dollar
-The local currency settled 4 paise lower at 83.21 against the U.S dollar on Friday.
-It closed at 83.17 on Thursday.
Source: Cogencis
Sensex, Nifty Log A Record Eight-Year Winning Streak Despite A Last Day Drop: Closing Bell
Benchmark equity indices snapped their four-day record rally and closed the last day of the year lower. However, they ended the year higher with the Nifty 50 gaining 19.39% and the Sensex gaining 18.05%.
All stocks of the Sensex ended with yearly gains in 2023 and only two stocks of the Nifty 50 ended the year lower. Weekly, indices ended higher after snapping a seven-week rally last Friday.
On Friday the Nifty ended at 21,726.45, down 52.25 points or 0.24% while Sensex ended 170.12 points or 0.23% lower at 72,240.26. Intraday, the Nifty hit a low of 21,676.90 points and the Sensex hit a low of 72,082.64.
"Indian equities were clearly an outperformer compared to most global peers in CY23, more in mid and large cap space," said Pankaj Pandey, Head-Research at ICICIDirect in a note. "Interestingly, this was amidst geopolitical tensions, rise in key policy rates across the globe and volatile commodity prices."
"Looking ahead, it is recommended for investors to capitalize on every market dip by opting to buy rather than sell, considering the strong foundational factors (macros) supporting India," said Shrey Jain, Founder and CEO SAS Online. "Traders are advised to closely monitor and trail their stop-loss accordingly."
Shares of Tata Motors Ltd., HDFC Bank Ltd., Tata Consumer Ltd., Hindustan Unilever Ltd., and Adani Enterprises Ltd. contributed the most to the gains.
Meanwhile, those of Infosys Ltd., ICICI Bank Ltd., State Bank of India Ltd., Reliance Industries Ltd., and Kotak Mahindra Bank Ltd., capped the upside.
All sectoral indices ended the week higher except Nifty IT and Nifty Media. Nifty Auto and Nifty Metal gained the most by over 4%.
Broader markets outperformed, with S&P BSE MidCap index rising 0.85%, and S&P BSE SmallCap gaining 0.69%. Around 13 sectors, out of 20 compiled by the BSE, advanced, and seven declined. BSE Telecommunication and BSE Auto gained the most among sectoral indices.
The market breadth was skewed in the favour of buyers. About 2,021 stocks rose, 1,749 declined, while 121 remained unchanged on the BSE.
Multibaggers for 2023
Zomato made a comeback after 2022 mayhem was up 2.2 times and turned profitable in Q1FY24
HAL has been the high-flyer of the year gained 2.4 times on the back of strong order book
Power pack REC and PFC gained 3.5 times on the back of robust loan growth
Suzlon energy gained 3.6 times on the back of healthy orderbook
All railway stocks have been multibaggers with Indian railways announcement to purchase trains with Rs 1 lakh crore
Jai Balaji Industry gained 13 times on the back of strong operating profits
Kaynes technology gained 3.5 times with strong customer additions and high margin verticals
Affle Hits Over One Year High
NALCO Hits Lifetime High
European Markets Open Higher
Power Mech Shares Jump Nearly 8% On Order Win
The shares of Power Mech rose on Friday after the company won orders worth Rs 1,518 crore from the Directorate of Geology, Uttarakhand for mining of riverbed mineral. The company also won an order of Rs 674.8 crore from Meenakshi Energy for revival, operation and maintenance services.
The scrip rose as much as 7.69% to 4,468.80 apiece, the highest level since Dec. 4. It pared gains to trade 5.91% higher at Rs 4,395.10 apiece, as of 2:02 p.m. This compares to a 0.24% decline in the NSE Nifty 50 Index.
It has risen 121.97% on a year-to-date basis. Total traded volume so far in the day stood at 2.4 times its 30-day average. The relative strength index was at 62.
Out of two analysts tracking the company all maintain a 'buy' rating, according to Bloomberg data. The average 12-month consensus price target implies an upside of 112%.
IRFC Has 16.5 Lakh Shares Change Hands In A Large Trade
16.5 lakh shares changed hands in a large trade
0.01% equity changed hands at Rs 100.15 apiece
Buyers and sellers not known immediately
Source: Bloomberg
Hindustan Foods Acquires Manufacturing Unit In Haryana
Acquires sport shoe manufacturing unit in Haryana for Rs 30.7 crore
Acquisition part of co's planned investment of up to Rs 100 crore in the sports shoes manufacturing domain
Source: Exchange filing
Sensex, Nifty Trade Low As Infosys, ICICI Bank, SBI Decline: Midday Market Update
India's benchmark stock indices fell during midday on Friday as Infosys Ltd., ICICI Bank Ltd., and State Bank of India dragged. A decline in financial services, and information technology sector stocks also exerted pressure on the indices.
As of 12:40 p.m., the NSE Nifty 50 was 59.05 points, or 0.27% down at 21,715.25, while the S&P BSE Sensex was 192.65 points, or 0.25% lower at 72,214.85.
The indices snapped a four-day winning streak and opened lower. Intraday, the Nifty declined 98.60 points, or 0.45% to 21,680.10, while Sensex fell 317.83 points, or 0.44% to 72,092.55.
"Reflecting on a challenging yet resilient year, Nifty surged from Jan-March lows to a record high of 21801.45 in December, concluding with a 20% gain and an impressive 191% rise from March 2020. Positive catalysts, including a dovish Federal Reserve, BJP's victories, and optimism in India's growth, marked 2023 as a banner year for Dalal Street," said Prashanth Tapse, senior vice president at Mehta Equities Ltd.
Adani Enterprises Ltd., HDFC Bank Ltd., Hindustan Unilever Ltd., Tata Consumer Products Ltd. and Tata Motors Ltd. were positively contributing to changes in the Nifty.
Whereas, Infosys Ltd., ICICI Bank Ltd., Kotak Mahindra Bank Ltd., Reliance Industries Ltd. and State Bank of India were weighing the index.
On NSE, 10 of the 14 sectors were trading in red, and four were trading in green. Nifty PSU Bank was the top loser, trading 0.78% down. Nifty Auto rose the most, trading up 1.23%.
The Nifty Midcap 100 touched a life-high on the last trading session of the year.
Broader markets outperformed benchmark indices; the S&P BSE MidCap rose 0.46% and the S&P BSE SmallCap gained 0.54%.
Eight sectors on the BSE fell, while 12 sectors advanced. BSE Auto rose the most, while BSE Oil and Gas fell the most.
Market breadth was split between buyers and sellers. Around 1,957 stocks rose, 1,647 shares decline, and 164 remained unchanged on BSE.
Disclaimer: NDTV is a subsidiary of AMG Media Networks Limited, an Adani Group Company.
LIC Reduces Stake In BHEL To 9.62% From 11.7%
LIC cuts 2.1% stake in co from June 2019 to Dec 2023
Source: Exchange Filing
Seamec Shares Hit Over One-Year High
The scrip rose as much as 13.82% to Rs 1,078.40 apiece, its highest level since December 2022.
Most Auto Stocks Gain
NBCC Gets Order Worth Rs 88.9 Crore
Order for staff quarter residential building from Delhi Metro Rail Corp
Source: Exchange Filing
Biocon's Eylea Injection Patent Gets Mixed Decision From US District Court
Eylea method of treatment patents deemed invalid
Claims of Eylea formulation patent deemed valid
Source: Exchange Filing
Venus Pipes Shares Jump; DAM Capital Initiates Coverage
The shares of Venus Pipes Ltd rose on Friday after DAM Capital initiated a buy coverage with a target price of Rs 1,810 and an upside of 33%.
DAM Capital's initiation for the steel pipes and tubes company comes on the back of government's capex plans to pull up private sector capex and the opportunities in the global market. The firm also thinks the infrastructure, oil and gas transmission and water supply will drive steel pipe demand.
The scrip rose as much as 8.12% to Rs 1464.50 apiece, the highest level since Nov. 16. It pared gains to trade 5.26% higher at Rs 1,425 apiece, as of 11:23 a.m. This compares to a 22 advance/decline in the NSE Nifty 50 Index.
It has risen 98.85% on a year-to-date basis. Total traded volume so far in the day stood at 24 times its 30-day average. The relative strength index was at 60.
Out of six analysts tracking the company all maintain a 'buy' rating, according to Bloomberg data. The average 12-month consensus price target implies an upside of 101.6%.
Nifty Midcap 100 Hits Lifetime High
Tata Motors, Ashok Leyland Shares Jump
Shares of Tata Motors and Ashok Leyland jumped after a media report said that the government is planning to replace 800,000 diesel buses, more than a third of the total on roads, with electric ones by 2030.
Shares of Tata Motors Ltd. jumped as much as 6.36% today to hit its lifetime high of Rs 802.90. It pared gains to trade 5.30% higher at Rs 793.85 apiece, as of 11:30 a.m. This compares to a 0.22% decline in the NSE Nifty 50 Index.
Those of Ashok Leyland jumped as much as 3.82% to hit Rs 182.80 apiece, its highest level since September 18.
India Shelter Finance Surges 9% After Posting 67% Annual Growth in Q2 Profit
India Shelter Finance Corp surged 9% on Friday after it said to the exchanges its net profit rose 67% on year to Rs 60 crore in Q2 of the current financial year. The company earned an interest of Rs 167.9 crore in Q2 FY24 as against Rs 118 crore in Q2 FY23, up 42% YoY.
India Shelter Finance got listed on the exchanges on Dec 20.
Volume Buzzers At 10:20 A.M.
Kalpataru Projects International at 11.24 times its 30 day average
Godrej Industries at 6.07 times its 30 day average
Techno Electric & Engineering Company at 6.2 times its 30 day average
Surya Roshni at 4.67 times its 30 day average
Go Fashion (India) at 4.13 times its 30 day average
Indian Energy Exchange Ltd at 2.75 times its 30 day average
Axis Bank Has 20.1 Lakh Shares Change Hands
20.1 lakh shares changed hands in a large trade
0.1% equity changed hands at Rs 1,100.5 apiece
Buyers and sellers not known immediately
Source: Bloomberg
Techno Electric Jumps On Orders Worth Rs 1,750 Crore
The stock hit its lifetime high of Rs 844.50 apiece after the company got orders worth Rs 1,750 crore for power transmission and Advance Metering Infrastructure.
The scrip rose as much as 7.72% to Rs 844 apiece to touch its all time high. This is the highest level since Dec. 8. It pared gains to trade 4.82% higher at Rs 821.75 apiece, as of 10:29 a.m. This compares to a 0.31% decline in the NSE Nifty 50 Index.
It has risen 148.83% on a year-to-date basis. Total traded volume so far in the day stood at 12 times its 30-day average. The relative strength index was at 72.
Out of four analysts tracking the company, three maintain a 'buy' rating and one recommends a 'hold,' according to Bloomberg data. The average 12-month consensus price target implies an upside of 168.2%.
Vodafone Idea Shares Jump Nearly 5%
The scrip rose as much as 4.9% to Rs 13.90 apiece, the highest level since Dec 22, 2023. As of 10:17 a.m., it pared gains to trade 3.40% higher at 13.70 rupees, compared to a 0.40% decline in the Nifty 50.
It has risen 71.25% on a year-to-date basis.
Shakti Pumps Hits One-Month High On Order From Haryana Renewable Energy Department
Shakti Pumps shares jumped to hit a one-month high after getting work order worth Rs 258 crore from Haryana Renewable Energy Department for 6,408 pumps.
The scrip rose as much as 9.08% to Rs 1093.95 apiece, the highest level since Nov. 15 when it traded at Rs 1099.85. It pared gains to trade 3.70% higher at Rs 1040 apiece, as of 10:07 a.m. This compares to a 0.35 decline in the NSE Nifty 50 Index.
It has risen 154.59% on a year-to-date basis. Total traded volume so far in the day stood at 28 times its 30-day average. The relative strength index was at 59.
Innova Captab Debuts At 1.8% Premium Over IPO Price
Shares of Innova Captab Ltd. listed on the BSE on Friday at Rs 456.1 apiece, a premium of 1.81% over its IPO price of Rs 448 apiece.
On the National Stock Exchange, the stock debuted at Rs 452.1 per share, a 0.92% premium.
Source: Exchanges
Shakti Pumps Gets Order From Haryana Renewable Energy Department
Gets work order worth Rs 258 crore from Haryana Renewable Energy Department for 6,408 pumps
Gets order to supply, install, commission solar water pumping systems
Source: Exchange Filing
Tata Coffee, Tata Consumer Shares Hit Life High
Tata Consumer Products Ltd and Tata Coffee Ltd rose on Friday as scheme of arrangement involving the demerger of Tata Coffee's plantation business into TCPL Beverages & Foods and the merger of the remaining business with Tata Consumer Products will be effective from January 1.
Kalpataru Projects Hits Life High On New Orders
The shares of Kalpataru Projects International Ltd rose on Friday after the company secured new orders worth Rs 3,244 crore.
The scrip rose as much as 10.25% to Rs 725 apiece, to touch its life time high. This is the highest level since Oct. 23 when it traded at Rs 723.95. It pared gains to trade 8.20% higher at Rs 711.50 apiece, as of 9:30 a.m. This compares to a 0.18 decline in the NSE Nifty 50 Index.
It has risen 27.21% on a year-to-date basis. Total traded volume so far in the day stood at 3.9 times its 30-day average. The relative strength index was at 65.
Out of 16 analysts tracking the company, 14 maintain a 'buy' rating and 2 recommend a 'hold,' according to Bloomberg data. The average 12-month consensus price target implies an downside/upside of 33.1%.
Sensex, Nifty Snap Four-Day Rally As Financial Services Stocks Drag: Opening Bell
Benchmark indices snapped their four-day rally and opened negative in the last trading session of the year after hitting fresh highs on Thursday.
At pre-open, the S&P BSE Sensex Index was down 58.79 points, or 0.08%, at 72,351.59 while the NSE Nifty 50 was at 21,737.65, down 41.05 points or 0.19%.
For Nifty, Avdhut Bagkar, technical and derivatives analyst at StoxBox said, "The index is anticipated to continue to attract bullish strength provided the immediate support near 21540 remains intact on a closing basis. "
On the higher side, Vikas Jain, senior research analyst at Reliance Securities said 22,000 will be a resistance being the round number and the weekly pivot resistance from current levels.
Given the substantial buying activity from both FIIs and DIIs, there is an expectation that the positive momentum will persist in the market, said Mandar Bhojane, equity research analyst at Choice Broking. "Consequently, traders and investors are advised to maintain their long positions, implementing a trailing stop loss set at 21,500 levels."
Shares of ITC Ltd., Tata Motors Ltd., Tata Consumer Products Ltd., Larsen & Toubro Ltd., and Maruti Suzuki Ltd., contributed the most to the gains.
Meanwhile, those of Reliance Industries Ltd., Infosys Ltd., ICICI Bank Ltd., Kotak Mahindra Bank Ltd., and HDFC Bank Ltd., capped the upside.
All sectoral indices fell except Nifty Auto and Nifty FMCG, Nifty Energy and Nifty Oil & Gas fell the most.
The broader markets outperformed as the BSE MidCap rose 0.11%, while the BSE SmallCap was 0.18% higher. Seven out of the 20 sectors compiled by the BSE advanced, while 13 declined.
The market breadth was skewed in the favour of buyers. As many as 1,744 stocks advanced, 1,109 declined and 115 remained unchanged on the BSE.
Sensex, Nifty Fall At Pre-Open
At pre-open, the S&P BSE Sensex Index was down 58.79 points, or 0.08%, at 72,351.59 while the NSE Nifty 50 was at 21,737.65, down 41.05 points or 0.19%.
Rupee Opens Flat Against The U.S. Dollar
The local currency opened flat at 83.16 against the U.S dollar on Friday.
Source: Bloomberg
Yield On The 10-Year Bond Flat
The yield on the 10-year bond opened flat at 7.21% on Friday.
Source: Bloomberg
B&K Securities Initiates Coverage On Macrotech Developers With 'Buy' Rating
Initiates buy with a target price of Rs 1155
Believes Macrotech to deliver sustainable pre-sales growth over medium term
Strong launch pipeline, JDA portfolio build-up, entry in newer markets support performance
Expect 19% CAGR pre-sales growth over FY23-26E
Expect 20% CAGR collections growth to Rs 183.5 bn over FY23-26E
Expects leverage to remain in comfort zone despite robust growth plan
Believes further possibility for premium upgrade given continuity in housing sector momentum
Morgan Stanley On India Equity Strategy
Base case assumes RBI's rate cut cycle to begin in June '24
Slowing world growth to pressure India's terms of trade in Q1CY24
Indian equities to underperform if US stocks continue to rally
US yields peaking and JP EM Bond Index inclusion to keep BoP benign
Sep-Dec quarter is likely to be strong for earnings
Domestic flows likely to be sustained while FPI flows could be volatile
General election most important catalyst in Q1CY24, market likely to price in continuity
Asian Paints' Sriperumbudur Plant Gets SEIAA Approval
SEIAA, Tamil Nadu, to grant Environmental Clearance to Sriperumbudur plant of co
Sriperumbudur plant is operating with required licenses and approvals
Note: SEIAA stand for State Environment Impact Assessment Authority
Exchange Filing
Kalpataru Projects Gets New Orders Worth Rs 3,244 Crore
Orders awarded to co along with JV and international subsidiaries
Gets order for construction of residential project in South India
Gets order for design & construction of an underground metro rail project
Gets orders in Transmission & Distribution business from overseas markets
Source: Exchange Filing
Global Cues
U.S. Dollar Index at 101.55
U.S. 10-year bond yield at 3.84%
Brent crude down 1.58% to $78.39 per barrel
Nymex crude up 0.20% at $71.91 per barrel
Gift Nifty flat at 21,950.00 as of 7:30 a.m.
Bitcoin was down 0.25% at 42,367.02
Trading Tweaks
Ex/record date interim dividend: Can Fin Homes.
Ex/record date stock split: HMA Agro Industries.
Moved into a short-term ASM framework: J Kumar Infraprojects, Kamdhenu.
F&O Cues
Nifty January futures up 0.35% to 21,930.05 at a premium of 151.35 points.
Nifty January futures open interest up 22.10%.
Nifty Bank January futures up 0.22% to 48,780.95 at a premium of 272.4 points.
Nifty Bank January futures open interest up 34%.
Nifty Options Jan 4 Expiry: Maximum call open interest at 22,500 and maximum put open interest at 21,500.
Bank Nifty Options Jan. 4 Expiry: Maximum call open interest at 51,000 and maximum put open interest at 48,000.
Securities in the ban period: Hindustan Copper.
Insider Trades
V.I.P. Industries: Promoter Kiddy Plast bought 15,000 shares on Dec. 27, promoter group DGP Enterprises bought 20,000 shares on Dec. 27 and promoter Dilip G. Piramal bought 30,000 shares on Dec. 27.
ION Exchange (India): Promoter group Bimal Jain sold 13,000 shares between Dec. 18 and Dec. 27.
Pledge Share Details
Stove Kraft: Promoter Rajendra Gandhi creates a pledge of 1 lakh shares on Dec. 26.
Block Deals
Zydus Wellness: Threpsi Care LLP sold 7.8 lakh shares (1.22%) while SBI Mutual Fund and Zydus Family Trust bought 3.9 lakh shares (0.61%) each at Rs 1,632 apiece.
Bulk Deals
Indiabulls Housing Finance: ICICI Prudential Mutual Fund Equity-Arbitrage Fund sold 25.34 lakh shares (0.52%) at Rs 218.74 apiece; SBI Mutual Fund SBI Arbitrage Opportunity Fund sold 30.9 lakh shares (0.64%) at Rs 218.16 apiece; and Mathew Cyriac bought 25 lakh shares (0.52%) at Rs 213.53 apiece.
Zee Entertainment Enterprises: Plutus Wealth Management LLP bought 61.1 lakh shares (0.63%) at Rs 270.07 apiece.
Azad Engineering: Abu Dhabi Investment Authority bought 3.98 lakh shares (0.67%) at Rs 719.9 apiece.
Stocks To Watch
Punjab National Bank: The bank approved raising up to Rs 7,500 crore in one or more tranches during the next financial year.
Swan Energy: The company approved raising Rs 4,000 crore via multiple instruments.
RBL Bank: ICICI Prudential AMC and ICICI Prudential Life received the RBI's nod to acquire aggregate holdings of up to 9.95% in the two lenders.
Federal Bank, Equitas Small Finance Bank: The RBI approved ICICI Prudential Asset Management Co. to acquire up to a 9.95% stake in the company.
Oil Marketing Companies: State-run OMCs are likely to announce cuts in petrol and diesel prices, according to reports.
ICICI Lombard General Insurance: The company received a Rs 1,728-crore demand from the GST Authority and a penalty of Rs 172 crore for the period July 2017 to March 2022. The company said it will file an appeal.
Thermax: The company has completed the transfer of lease hold rights to a vacant plot situated at MIDC Industrial Area Chinchwad, Pune, measuring 57,482 sq. metres, for a consideration of Rs 135.66 crore.
Tata Coffee, Tata Consumer Products: The scheme of arrangement between Tata Coffee, Tata Consumer Products and its wholly owned subsidiary, TCPL Beverages and Foods, will be effective from Jan. 1, 2024. The scheme involves the demerger of Tata Coffee's plantation business into TCPL Beverages & Foods and the merger of the remaining business with Tata Consumer Products.
D B Realty: The company approved providing a corporate guarantee of Rs 45 crore to Capri Global Capital in respect of the term loan facility granted by Capri Global Capital to the company’s subsidiary, Esteem Properties.
Aditya Birla Fashion and Retail: The company raised its stake in unit Finesse International Design to 63.5% from 58.7% for Rs 20 crore.
Info Edge India: The company will invest Rs 25 crore in Zwayam Digital, a wholly owned subsidiary.
The Ramco Cements: The company has approved to acquire the shares of its arm, Ramco Industries, from Promoter Group Nalina Ramalakshmi for Rs 16 crore in one or more tranches.
Kama Holdings: The promoter has sold 17,234 shares (0.05%) in the open market to achieve a minimum public shareholding of 75%.
Satin Creditcare Network: The company entered into a master agreement for the co-lending of loans to microfinance borrowers by way of a co-lending module in tranches with Karnataka Bank. A ratio of 80:20 will be funded by the bank and the company, respectively.
RedTape: The company has entered into a strategic, marketing and technical tie-up with Open Network for Digital Commerce for marketing its products.
Waaree Renewables: The company has signed a collaboration agreement with 5B Maverick Services to accelerate the deployment of utility-grade solar power, both domestic and international.
Lemon Tree Hotels: The company has signed a franchise agreement for an upcoming hotel in Mussoorie, Uttarakhand, under the company's brand, 'Lemon Tree Hotel'.
Power Mech Projects: CFO J Satish has resigned from the position and Nani Aravind Nallamothu has been appointed for the same position.
PCBL: The company has incorporated Advaya Chemicals as a wholly owned subsidiary.
UPL: The company incorporated a new subsidiary in Saudi Arabia for its chemical manufacturing business.
India Shelter Finance: The company reported a net profit of Rs 60 crore in Q2, up 67% year-on-year. The company also earned an interest of Rs 167.9 crore in Q2 FY24 as against Rs 118 crore in Q2 FY23, up 42% YoY.
Aarti Drugs: SEBI has sent an administrative warning over the non-disclosure of plant closures in April 2022.
New Listing
Innova Captab: The company's shares will debut on the stock exchanges on Friday at an issue price of Rs 448 apiece. The 570-crore IPO was subscribed 55.26 times on its third and final day. The bids were led by institutional investors (116.73 times), non-institutional investors (64.95 times), and retail investors (17.15 times).
GIFT Nifty Trades Above 21,900
The January futures contract of the GIFT Nifty traded flat at 21,950 points as of 07:30 a.m. on Friday.
Asian stocks traded mixed in the last session of the year after their US peers were largely unchanged and as investors bargain-hunt in China.
Share indices in Australia also fell as a fall in iron ore future prices dented investors' risk appetite. Australia is the largest exporter of iron ore, hence a fall in the commodity price is likely to impact export value.
Meanwhile, traders continued to remain positive about the U.S. Federal Reserve cutting rates in 2024. The new jobless claim data from the world's largest economy further affirmed traders' expectation.
Data from the U.S. Labor Department showed the number of people filing for the state unemployment benefit increased 12,000 to 218,000 in the week ended Dec 23, from upwardly revised 205,000 in the preceding week.
Brent crude was trading down 1.58% to $78.39 per barrel. Gold was up 0.21% at $2,069.89 an ounce.
India's benchmark indices ended at a record high for the second day in a row on Thursday as ITC Ltd., Mahindra & Mahindra Ltd., and Reliance Industries Ltd. gained.
The S&P BSE Sensex ended 371.95 points, or 0.52%, higher at 72,410.38, while the NSE Nifty 50 closed 123.95 points up, or 0.57%, higher at 21,778.70.
The benchmark indices continued their winning streak for the fourth consecutive day.
Overseas investors stayed net buyers of Indian equities for the second consecutive session on Thursday. Foreign portfolio investors mopped up stocks worth Rs 4,358.9 crore, while domestic institutional investors turned net buyers and bought equities worth Rs 136.6 crore, the NSE data showed.
The Indian rupee strengthened 18 paise to close at Rs 83.17 against the U.S. dollar on Thursday.
RECOMMENDED FOR YOU
HDFC Bank Bonus Issue: One Share For Every One Held — Board Approves Plan
Jul 19, 2025
Tata Elxsi Share Price Falls Nearly 8% After Company Posts Decline In Net Profit
Jul 11, 2025
.jpg?rect=0%2C0%2C3500%2C1969&w=75)
Union Bank Of India Share Price Dips As Q1 Advances, Deposits Decline
Jul 09, 2025
Union Bank Of India Share Price Rises After Fundraising Plan Announcement
Jun 26, 2025
POPULAR