Sensex climbs 690 points to break two-day losing streak, Nifty setlles over 21,400
Business | January 24, 2024 17:32 ISTThe indices recovered from the market decline on Tuesday, where the BSE index had fallen over 1000 points.
The indices recovered from the market decline on Tuesday, where the BSE index had fallen over 1000 points.
Sun Pharma, Bharti Airtel, and Power Grid were the major gainers on the Sensex, while HDFC Bank, Asian Paints, and HUL were among the laggards.
India's stock market value surpassed the USD 4 trillion mark for the first time on December 5, 2023, with significant growth observed in the past four years.
Ayodhya has secured an investment of Rs 49,000 crore at the 2023 Global Investor Summit held in Uttar Pradesh, signalling a new era of economic prosperity for the region.
Foreign portfolio investors made a net investment of Rs 13,047 crore in equities from January 1 to January 19, according to data from the depositories.
January 22 will be a trading holiday after the Maharashtra government declared a holiday for the consecration of the Ram Temple in Ayodhya. The stock markets will also remain closed on Friday for Republic Day.
The market will remain closed on January 22 in view of Ram Mandir's 'Pran Pratishtha' ceremony in Ayodhya. The consecration ceremony will be performed by PM Modi. Over 7,500 eminent guests have been invited to the grand event.
Hindustan Unilever's revenue from operations stood at Rs 15,567 crore, 0.2 per cent lower than Rs 15,597 crore in the third quarter of FY23.
The BSE Sensex was 496.37 points higher, while the Nifty rose 160.15 points to 21,622.40.
The special session will be held to facilitate the transition from the primary trading site to the disaster recovery site.
NTPC, Asian Paints, PowerGrid, IndusInd Bank, Titan Company, Maruti Suzuki, Bajaj Finance, JSW Steel, and Nestle India were the top laggards in the Sensex.
The company's growth was due to consistently low raw material prices, resulting in the highest gross margin in the last 11 quarters, reaching 43.6 per cent.
The bank's American Depository Receipts fell over 15 per cent in the last two days, resulting in a more than 10 per cent slump in the domestic HDFC Bank stock.
The fall in the Sensex and Nifty was primarily triggered by a substantial fall in HDFC Bank's share price.
Banking shares faced significant selling pressure as all 12 Nifty Bank index constituents traded with cuts. The selling activity was triggered by negative commentary on HDFC Bank's below-par third quarter figures, impacting sentiment across the sector.
HDFC Bank reported a net profit of Rs 16,372 crore compared to Rs 15,976 crore in the quarter-ago period on a standalone basis.
The BSE Sensex was down 199.17 points at 73,128.77, while the Nifty fell by 65.15 points to 22,032.30.
The initial public offering of Jyoti CNC Automation consisted entirely of a fresh issue of equity shares worth up to Rs 1,000 crore, with a price band of Rs 315-331 per share.
Jio Financial Services' net profit during the nine-month period rose from Rs 32.25 crore to Rs 1,293.92 crore, while revenue increased from Rs 41.63 crore during the year ending March 2023 to Rs 1,435.78 crore in December 2023.
The BSE Sensex rose by 1.05 per cent, reaching 73,327.94, while the Nifty was 202 points, or 0.93 per cent higher at 22,097.50. The market breadth reflected this movement, with 1787 shares advancing, 1609 shares declining, and 78 shares remaining unchanged.
Top News
Latest News
