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The S&P BSE Sensex and NSE Nifty 50 indexes extended gains in noon deals led by gains in information technology heavyweights like Infosys and Tata Consultancy Services. Heavyweights like Reliance Industries, ITC, State Bank of India and Bajaj Finance also added to the gains. The benchmarks opened higher and extended gains in noon trading on the back of a broad-based buying interest. The Sensex rose as much as 336 points to hit an intraday high of 46,342.34 and Nifty 50 index touched an intraday high of 13,566.10. As of 1:02 pm, the Sensex was up 285 points at 46,292 and Nifty 50 index advanced 87 points to 13,553. All the 11 sector gauges compiled by the National Stock Exchange were trading higher led by the Nifty Realty index’s over 3 per cent gain. Nifty IT, Auto, Media, PSU Bank, Realty and Metal indexes also rose between 1-2 per cent. Mid- and small-cap shares were also witnessing buying interest as the Nifty Midcap 100 and Nifty Smallcap 100 indexes rose around 2 per cent. Wip

The S&P BSE Sensex and NSE Nifty 50 indexes gained for second straight session on Wednesday led by gains in information technology heavyweights Infosys and Tata Consultancy Services. Heavyweights like Reliance Industries, ITC, State Bank of India and Bajaj Finance also added to the gains. The benchmarks opened higher and extended gains in noon trading on the back of a broad-based buying interest. The Sensex rose as much as 507 points to hit an intraday high of 46,513.32 and Nifty 50 index rose above important psychological level of 13,600. The Sensex advanced 437 points to close at 46,444 and Nifty 50 index climbed 135 points to settle at 13,601. Buying was visible across board as all the 11 sector gauges compiled by the National Stock Exchange ended higher led by the Nifty Realty index’s nearly 4 per cent gain. IT, media, auto, PSU banking, FMCG, metal and pharma indexes also rose between 1-2 per cent. Mid- and small-cap stocks also witnessed buying interest as Nifty Midcap 100 in

Domestic shares reversed from early gains to trade lower on Tuesday, extending a selloff from the previous session, as worries deepened over a fast-spreading new strain of the coronavirus detected in Britain. The NSE Nifty 50 index was down 0.85 per cent at 13,243.30 by 9:41 am, while the benchmark S&P BSE Sensex fell 0.54 per cent to 45,317.91. Both the indices rose as much as 0.80 per cent in early trade. Both the Nifty and Sensex had tumbled 3 per cent on Monday, snapping six straight sessions of gains as the new virus strain dimmed hopes of a global economic recovery. On Tuesday, the Nifty Media index was down 4.25 per cent and the Nifty PSU Bank index fell 3.3 per cent. Shares of the country’s most valuable company, Reliance Industries, slipped as much as 2.64 per cent and were the top drag.

The domestic stock exchanges witnessed their worst single-day selloff in over seven months on Monday mirroring losses in European markets after the fast-spreading new strain of coronavirus was 70 per cent more infectious, the United Kingdom government said. The new strain of the virus led to lockdown in parts of the United Kingdom and a host of countries imposed restrictions on travellers coming from the UK, triggering a sharp selloff in equities across the world. The Sensex fell as much as 2,037 points to hit an intraday low of 44,923.08 and Nifty 50 index touched an intraday low of 13,131.45 after hitting record high of 13,777.50 earlier in the session. The Sensex fell 1,407 points or 3 per cent to close at 45,554 and Nifty 50 index dropped 432 points or 3.14 per cent to close at 13,328 on the back of a broad-based selling pressure. ICICI Bank, HDFC Bank, HDFC, ITC, State Bank of India and Axis Bank were the top drags on the Sensex. European markets witnessed heavy selling pressure a

Ahead of the Budget, the Indian Stainless Steel Development Association (ISSDA) has urged the government to remove import duty on ferro-nickel and stainless steel scrap. Currently, ferro-nickel and stainless steel scrap attract basic customs duty (BCD) of 2.5 per cent. In its recommendations to Finance Ministry for the upcoming Budget for financial year 2021-22, ISSDA has also sought removal of import duty on graphite electrodes. ISSDA said “it has appealed to exempt the 2.5 per cent BCD levied while importing key raw materials, including ferro-nickel and stainless steel scrap”. At present, both the raw materials are unavailable in the country, making their import mandatory, it said. Removal of duty on ferro-nickel and stainless steel scrap is a long-standing demand of the industry. The Ministry of Steel has also at times batted for zero duty on these items. Stainless steel industry meets the bulk of its nickel requirements through ferro-nickel and stainless steel scrap route. ISSDA ha

Domestic share markets closed mostly flat on Friday, as gains in information technology stocks were offset by banking losses, but both the benchmark indexes posted a seventh straight weekly gain, their longest winning streak since April last year. The blue-chip Nifty 50 index ended up 0.1 per cent at 13,760.55, while the benchmark Sensex gained 0.15 per cent to 46,960.69. For the week, the indices gained 1.8 per cent and 1.9 per cent, respectively. As the end of the year nears, global markets have been swinging between broader optimism about COVID-19 vaccines and a global economic recovery and concerns about still rising infections. However, Indian markets have mostly outperformed other Asian markets this year, boosted by record inflows from foreign institutional investors (FIIs), vaccine progress globally and signs of a nascent economic recovery in the country. Nifty IT index rose 1.6%, while the heavyweight Nifty Bank Index fell 0.4%.

Domestic share markets started Thursday’s session at new record highs amid choppy trade continuing a record-breaking streak, as investors remained optimistic on COVID-19 vaccines and a fast global recovery. The S&P BSE Sensex index rose 145.91 points, or 0.31 per cent, to touch 46,812.37 at the strongest level recorded during the session, and the broader NSE Nifty 50 benchmark climbed as much as 0.31 per cent to 13,724.75 — both all-time highs. Gains in auto, metal and pharmaceutical shares supported the gains, however losses in consumer goods and IT shares limited the upside. At 10:24 am, the Sensex traded 91.62 points, or 0.20 per cent, higher at 46,758.08 while the Nifty was up 29.50 points, or 0.22 per cent, at 13,712.20.  Divi’s Laboratories, IndusInd Bank, Shree Cement, Sun Pharma and Dr Reddy’s Laboratories, trading between 1.23 per cent and 2.61 per cent higher, were the top gainers in the Nifty basket of 50 shares.  On the other hand, Coal India, Larsen & Toubro, ITC,

Calendar year 2020 saw the market debut of 13 companies, starting SBI Cards and Payment Services in March. The country’s IPO market slowly gained momentum following a lukewarm response to the listing of the credit card arm of the country’s largest bank. Mazagon Dock Shipbuilders’ IPO, in September, was subscribed more than 157 times the shares on offer, making it the best public offer of the year. In terms of IPO subscription, Mazagon was followed by the IPOs of Burger King India and Happiest Minds Technologies, which were subscribed almost 157 times and 151 times respectively. In terms of listing gains, Chemcon Speciality Chemicals, Happiest Minds and Route Mobile were the best, with shares more than doubling in their market debuts.

The S&P BSE Sensex and NSE Nifty 50 indexes closed at record highs for third day in a row paced by gains in Bharti Airtel, HDFC, ONGC, Titan and Asian Paints. The benchmarks staged a gap up opening and held on to gains on the back of a broad-based buying interest. The Sensex rose as much as 442 points to at an all-time high of 46,704.97 and Nifty 50 index climbed as much as 125 points to hit record high of 13,692.35. The markets have been hitting new highs on the back of record foreign flows into the Indian equities, analysts said. The Sensex rose 403 points to close at record high of 46,666 and Nifty 50 index climbed 115 points to settle at new all-time high of 13,683. Foreign institutional investors on Tuesday bought shares worth ₹ 2,484 crore. So far this year the FIIs have bought shares worth ₹ 1.5 lakh crore, data from National Securities Depository Limited (NSDL) showed. In today’s session buying was visible across board as all the 19 sector gauges, compiled by BSE, ended hig

Domestic stock markets fell on Tuesday with benchmark indices retreating from all-time highs amid weakness across Asian equities, as concerns about increasing COVID-19 deaths and lockdowns overshadowed optimism about the rollout of coronavirus vaccinations. The S&P BSE Sensex index dropped by as many as 383.6 points — or 0.83 per cent — to 45,869.86 during the session, and the broader NSE Nifty 50 benchmark slid to as low as 13,451.30 down 106.85 points — or 0.79 per cent — from its previous close. Weakness across sectors, led by banking, financial services and IT shares, dragged the markets lower. At 10:43 am, the Sensex traded 351.74 points, or 0.76 per cent, lower at 45,901.72, while the Nifty was down 95.85 points, or 0.71 per cent, at 13,462.30.  Tata Motors, HUL, ITC, ICICI Bank and Axis Bank, trading between 1.79 per cent and 2.28 per cent lower, were the worst hit among 37 laggards in the 50-scrip Nifty basket. On the other hand, Eicher Motors, Shree Cement, UltraTech Cemen

Consumer inflation in the country stood at 6.93 per cent in November, easing from 7.61 per cent in the previous month, government data released on Monday showed. That was better than a reading of 7.10 per cent estimated by analysts in a poll by news agency Reuters. Still, retail inflation — or the rate of increase in the prices that consumers pay for a group of items — stayed the RBI’s comfort zone of 4-6 per cent for a seventh straight month, a streak not seen since August 2014.  Retail inflation was helped by lower increases in food prices, but fuel continued to put pressure on the overall reading. Food inflation — or inflation in the prices of food items — eased to 9.43 per cent last month, escaping double-digit readings recorded in the past few months. In October, it had stood at 11 per cent.  At its December 2-4 meeting, the Reserve Bank of India’s Monetary Policy Committee kept its key repo rate at 4.0 per cent and decided to retain its accommodative stance while ensuring ample l

The S&P BSE Sensex and NSE Nifty 50 indexes closed at all-time highs on Monday led by gains in ICICI Bank, Larsen & Toubro, Kotak Mahindra Bank, ONGC and Tata Consultancy Services. The benchmarks staged a gap up opening wherein Sensex rose as much as 274 points to hit record high of 46,373 and Nifty 50 index touched an all-time high of 13,597.50. The Sensex rose 154 points to close at 46,253 and Nifty 50 index advanced 44 points to settle at 13,558. Nine of 11 sector gauges compiled by the National Stock Exchange ended higher led by Nifty Media index’s over 2 per cent gain. Nifty Metal and PSU Bank indexes also rose over a per cent each. On the other hand, auto and realty shares witnessed selling pressure. Mid- and small-cap stocks outperformed their larger peers as Nifty Midcap 100 and Nifty Smallcap 100 indexes advanced 0.7 and 0.8 per cent each respectively. Burger King made a stellar market debut. The stock opened for trading at ₹ 115.35 on the BSE compared with an issue pr

The Associated Chambers of Commerce and Industry of India (ASSOCHAM), one of the apex trade associations of India in association with ITC Sunfeast concluded the fourth edition of its Wisdom Series lecture titled ‘Role of Consumer Voice’ on the theme of ‘Aatmanirbhar Bharat – Vocal for Local – Achieving Efficiency in Supply Chain’ . The event saw an expert panel consisting of Mr. Subroto Dey, Deputy General Manager, Industry Engagement GS1 , Mr. Ishaan Bedi, Founder & CEO, Synchronized Supply Systems Ltd. and Mr. Anup Pai, Founder & CEO eSamudaay hold an insightful discussion on developing domestic logistic solutions for India supply chains, how it can contribute to product traceability across the supply chain and how it can ultimately help to achieve the goal of making India self-reliant under Aatmanirbhar Bharat initiatives. Commenting on how Vocal For Local should increase consumer confidence in Indian companies, Mr. Ishan Bedi, Founder & CEO, Synchronized Supply System

Fuel demand fell 5.0 per cent in November compared with the same month last year. Consumption of fuel, a proxy for oil demand, totaled 17.83 million tonnes, data from the Petroleum Planning and Analysis Cell (PPAC) of the oil ministry showed. Sales of petrol were 5.2 per cent higher from a year earlier at 2.67 million tonnes. Cooking gas or liquefied petroleum gas (LPG) sales increased 3.5 per cent to 2.35 million tonnes, while naphtha sales surged 7.3 per cent to 1.35 million tonnes.

Industrial production rose 3.6 per cent in October, mainly on the back of better performance of manufacturing and electricity generation sectors, official data showed on Friday. According to the Index of Industrial Production (IIP) data, manufacturing and electricity generation sectors registered a growth of 3.5 per cent and 11.2 per cent, respectively. The mining sector clocked a contraction of 1.5 per cent in October. IIP had contracted by 6.6 per cent in October 2019. “This is a second consecutive month that India’s industrial production has turned positive. The October IIP has surged to 3.6 per cent compared to 0.2 per cent in September. The easing of lockdown restrictions and increase in demand on the back of festive season has given rise to industrial output. RBI policymakers are already indicating that things can only get better from here. So, going ahead the pickup in demand and an eventual positive IIP figure will put India’s GDP in a better position,” said Rahul Gupta, Head o

Domestic stock markets soared to record highs on Friday as ONGC surged on the back of higher crude prices, with sentiment also supported by optimism over COVID-19 vaccines. The S&P BSE Sensex index rose 229.14 points — or 0.50 per cent — to touch an all-time high of 46,189.02 in the first few minutes of trade. The broader NSE Nifty 50 benchmark rose to as high as 13,547.05, adding 68.75 points — or 0.51 per cent — to its previous close, inches from its all-time high of 13,548.90.

Domestic stock markets registered mild losses on Thursday, halting a rally that pushed the benchmark S&P BSE Sensex index above the 46,000 mark for the first time ever. The Sensex index fell 392.63 points, or 0.85 per cent, to 45,710.87 at the weakest level recorded in morning deals. The broader NSE Nifty 50 benchmark slid to as low as 13,399.30, down 129.8 points, or 0.96 per cent, from its previous close. Losses in banking, financial services and IT shares weighed on the markets. The Sensex closed 143.62 points, or 0.31 per cent, lower at 45,959.88, following five consecutive days of gain, and the Nifty settled at 13,478.30, down 50.80 points, or 0.38 per cent, from its previous close. UPL, Tata Motors, Indian Oil, UltraTech Cement and Tata Steel, trading between 2.31 per cent and 13.86 per cent lower, were the worst hit among 43 laggards in the Nifty basket of 50 shares. On the other hand, Nestle, Maruti Suzuki and Titan, up 0.69-1.51 per cent each, were the top gainers in the i

Domestic stock markets registered mild losses on Thursday, halting a rally that pushed the benchmark S&P BSE Sensex index above the 46,000 mark for the first time ever. The Sensex index fell 392.63 points, or 0.85 per cent, to 45,710.87 at the weakest level recorded in morning deals. The broader NSE Nifty 50 benchmark slid to as low as 13,399.30, down 129.8 points, or 0.96 per cent, from its previous close. Losses in banking, financial services and IT shares weighed on the markets. At 10:10 am, the Sensex traded 359.03 points, or 0.78 per cent, lower at 45,744.47, while the Nifty was down 124.80 points, or 0.92 per cent, at 13,404.30. UPL, Tata Motors, Indian Oil, UltraTech Cement and Tata Steel, trading between 2.31 per cent and 13.86 per cent lower, were the worst hit among 43 laggards in the Nifty basket of 50 shares. On the other hand, Nestle, Maruti Suzuki and Titan, up 0.69-1.51 per cent each, were the top gainers in the index.  Reliance Industries, HDFC Bank, HDFC and Infosy

Domestic stock markets started Wednesday’s session on a positive note, continuing a rally amid optimism on a fast recovery from the coronavirus pandemic-caused slowdown. The S&P BSE Sensex index jumped 290.51 points, or 0.64 per cent, to touch 45,899.02 at the strongest level recorded in early deals, and the broader NSE Nifty 50 benchmark climbed to as high as 13,475.05, up 82.1 points, or 0.61 per cent, from its previous close — both all-time highs. Gains across sectors, led by banking, financial services and IT shares, pushed the markets higher.

Benchmark equity indices S&P BSE Sensex and NSE Nifty 50 extended their record-breaking streak to a third straight day on Monday, with investors’ sentiment boosted by news of progress in coronavirus vaccines amid continuous buying of Indian shares by foreign institutional investors. The Sensex rose as much as 379 points to hit an all-time high of 45,458.92 and Nifty 50 index surged as much as 108 points to hit new record high of 13,366.65. HDFC, Hindustan Unilever, ICICI Bank, ITC, Bharti Airtel and Infosys were among the top movers in today’s session. The Sensex ended 347 points or 0.77 per cent higher to close at an all-time high 45,427 and Nifty 50 index climbed 97 points to settle at record high of 13,356. Foreign institutional investors on Friday bought shares worth ₹ 2,970 crore after they purchased shares worth ₹ 60,357.67 crore in November. FIIs have so far this year invested ₹ 1,08,244.71 crore in Indian equities, data from NSDL showed. Buying was visible across the board