Closing Bell :  Nifty hits 21,000 and Sensex rises 300 points as the RBI maintains interest rates. Dec-08

Closing Bell

The BSE midcap index finished slightly down, while the smallcap index dipped 0.5 percent.

 Indian Market 

FII AND DII 

Stock Market News

1. 1. Zydus Lifesciences, Alkem Laboratories, and Torrent Pharma drove the Nifty Pharma index down 0.8 percent:
   2. Praj Industries, Bajaj Hindusthan, and NDTV drove the BSE Smallcap index down 0.7 percent.
   3. BHEL, SJVN, and New India Assurance Company brought down the BSE Midcap index by 0.5 percent:
   4. MPC left the repo rate constant at 6.5 percent and reaffirmed its position of ‘Withdrawal Of Accommodation’ with a 5: 1 majority.
   5. Following the Q2 surprise, the RBI lifts its FY24 GDP growth prediction to 7% from 6.5%.
   6. After nearly four months, India’s foreign exchange reserves have surpassed the $600 billion barrier.
   7. Bank Nifty reaches a new high of 47,170, marking the largest weekly rise since July 2022.
   8. Oil is on track for its seventh weekly decline as a supply surplus and poor Chinese demand weigh on the market.
   9. RITES and OIL are collaborating to create a mini-smart city in Duliajan Township.
   10. Adani stocks lose their winning streak and trade in the red; NDTV falls 6%, Adani Enterprises falls 2% 
   11. KPI Green receives an order for a 1.75 MW solar power project in the captive power producer segment:
   12. IRB Infra shares have reached a 52-week high as gross toll collections increased by 20% in November.
   13. Block Deal in Indian Renewable Energy Development Agency (IREDA) | 23.78 lakh shares at Rs 70.25, valued at Rs 16.7 crore.
   14. Marinetrans India’s stock is listed on the NSE SME at a 15% premium to its IPO price.
   15. The government decides to activate the greenshoe option in IRCON’s OFS offering, selling an extra 4% interest through the OFS.
   16. The government decides to activate the greenshoe option in IRCON’s OFS offering, selling an extra 4% interest through the OFS.
   17. TVS Electronics is ordered to pay Rs 35.58 crore by the Commissioner of Customs (Audit), Chennai.
   18. GMR Airports Large Trade | According to CNBC-TV18, 76 lakh shares (12.6 percent equity) worth Rs 4,465 crore change hands.
   19. Five-Star Fin Large Trade | According to CNBC-TV18, 2.3 crore shares (8 percent equity) worth Rs 1,704 crore change hands at an average price of Rs 730 per share.
   20. IRB Infrastructure Trust and IRB Infra reports Toll receipts increased by 19.4% year on year in November, totaling Rs 437 crore.
   21. Zomato Large Trade | 9.35 lakh shares worth Rs 1,127.5 crore change hands in a block deal window at Rs 120.5 per share, according to CNBC-TV18.
   22. SoftBank is expected to sell $135 million in Zomato shares in a block sale.
   23. Cropnosys, an agrochemical startup, receives a Rs 375 crore investment from Kotak’s arm.

 INDIAN MARKET MOVERS 

News Updates

Following PM Modi’s victories, foreigners have become positive on Indian stock futures.

Foreign investors have grown bullish on the future for Indian stocks, predicting additional increases after Prime Minister Narendra Modi’s party won important state elections, helping propel the market to a $4 trillion valuation.

According to exchange data collated by Bloomberg, foreign investors held 31,549 more long index futures contracts than short contracts on Thursday, shifting to a net positive position a day earlier for the first time since September.

Stocks rose to new highs this week as local election results were perceived as lowering the risk of political instability in national elections next year. The NSE Nifty 50 Index is up 16% this year, beating most Asian counterparts, as investors gambled on robust corporate growth, improved domestic consumption, and Modi winning a third term.

Bank Nifty reaches a new high of 47,170, marking the largest weekly rise since July 2022.

On December 8, the Bank Nifty rose 0.7 percent to a new lifetime high of 47,170.25 as investors hailed the Reserve Bank of India’s monetary policy decision. The Bank Nifty index is up more than 5% this week and is on track for its greatest weekly rise since July 2022.
The index has gained more than 9% this year, compared to a 15% increase in the benchmark Nifty50 index.
Among individual equities, ICICI Bank was up more than 5% this week, while HDFC Bank, Axis Bank, Bank of Baroda, and State Bank of India were up 6%, 9%, 10%, and 5%, respectively, during the same period.

Data for November Mutual Funds: MOM

 Net equity inflows of Rs 15,514.5 crore vs inflows of Rs 19,932 crore

Liquid fund outflows were Rs 644.7 crore versus inflows of Rs 32,964 crore.

 ETF inflows were Rs 833.62 crore versus Rs 4,769 crore.

US monthly unemployment claims increase marginally

The number of Americans applying for unemployment benefits increased less than expected last week due to a stagnant labor market and declining demand. Initial requests for state unemployment benefits rose 1,000 to 220,000 for the week ending December 2, compared to 222,000 predicted by economists. The employment market is stagnating, with 1.34 job opportunities for every unemployed person in October, the lowest since August 2021. The US central bank is expected to maintain steady rates next Wednesday, having lifted its policy rate by 525 basis points since March 2022.

SoftBank set to sell Zomato shares worth $135 million via block transaction

Japan’s SoftBank is expected to sell Zomato shares worth $135 million in a block deal, sources told CNBC-TV18. In rupee terms, this equates to Rs 1,125.5 crore. The shares will be auctioned at a price of Rs 120.50 per share.

Must read book about investing – check here 

Read more Checkingell Closing Bell Closing Bell Closing Bell Closing Bell Closing Bell Closing Bell Closing Bell Closing Bell Closing Bell latest news  fClosing Bell tyClosing Bell above 19,700, Sensex up 385 points; gains in capital goods, real estate, and banks

Force Motors announces August production of 3,032 automobiles. 

Power Mech Projects climbs more than 2% after receiving a Rs 625 crore order.

Hitachi Energy India rises nearly 4% after receiving an order.

Quant Mutual Fund invests Rs 86 crore in JM Financial, while Valiant Mauritius Partners sells 0.8% of its holding.

Baring Private Equity sells Rs 34.7 crore in PG Electroplast shares.

Small Cap World Fund and New World Fund sell Rs 884.43 crore in Shriram Finance shares.

Nazara Technologies will offer 57.42 lakh preferential shares to SBI Funds at Rs 714 per share.

Cochin Shipyard Large Trade | According to CNBC-TV18, 8.6 lakh shares (0.7 percent e

Data from China | Exports were down 8.8% in August, while imports were down 7.3% year on year.

Indian Railways awards Responsive Industries a contract for the Garib Rath Initiative.

CNBC-TV18 reported that Bikaji Foods International Large Trade | 14.1 lakh shares (0.6 percent equity) worth Rs 71.3 crore change hands at Rs 507 per share.

PVR INOX stock rises as SRK’s ‘Jawan’ hits theaters, and the industry anticipates a blockbuster opening.

L&T rises on rumours of a possible order from Saudi Aramco for a gas project.

Varroc Engineering to acquire a 26% share in AMP Energy SPVs TCS forms strategic cooperation with JLR’s digital unit

Tata Motors August Auto Sales | JLR UK sales are down 23.6% year on year at 1,479 units versus 1,935 units.

Closing Bell Closing Bell Closing Bell Closing Bell Closing Bell Closing Bell 

sensex gains sensex gains sensex gains sensex gains sensex gains sensex gains sensex gains sensex gains sensex gains sensex gains sensex gains sensex gains sensex gains sensex gains sensex gains sensex gains sensex gains sensex gains sensex gains sensex gains sensex gains sensex gains sensex gains sensex gains sensex gains sensex gains sensex gains sensex gains sensex gains sensex gains sensex gains sensex gains sensex gains sensex gains sensex gains sensex gains sensex gains sensex gains sensex gains sensex gains sensex gains sensex gains sensex gains sensex gains sensex gains