Equity benchmark indices Sensex and Nifty surged over 1 per cent to hit all time high on Thursday on the back of buying in IT, realty and tech stocks after the US Federal Reserve kept its key interest rates unchanged and indicated rate cuts next year. Continuous foreign fund inflows and falling crude oil prices also supported the domestic markets.
The BSE Sensex jumped 929.60 points or 1.34 per cent to closee at 70,514.20. The NSE Nifty surged 256.35 points or 1.23 per cent to settle at a record high of 21,182.70.
"The market continued its exuberance and hit a fresh high amid the dovish commentary from the Federal Reserve, signalling at least three rate cuts in 2024. Further, the sharp fall in US bond yields improved investors’ confidence. An upgrade in India’s GDP forecast, ease in global oil prices, and the RBI decision to clamp down inflation to the target level, led to a broad-based rally with outperformance from Realty and IT," Vinod Nair, Head of Research at Geojit Financial Services.
Top Stocks To Watch On 15 December:
Hero MotoCorp
The two- and three-wheeler manufacturer has appointed Vivek Nand as the new chief financial officer (CFO). The company has also appointes of Rachna Kumar as the chief human resources officer. Both Anand and Kumar will report to Niranjan Gupta, CEO.
Bharat Heavy Electricals
BHEL has joined hands with the Central Manufacturing Technology Institute (CMTI) under the Ministry of Heavy Industries to develop technologies in the fields of the hydrogen value chain and Industrial Internet of Things (IIoT) solutions for predictive maintenance of machines and manufacturing processes.
PB Fintech
Financial services platform said the Income Tax officials visited Paisabazaar Marketing and Consulting, a wholly owned subsidiary of PB Fintech, on December 13 and 14, and sought information about certain vendors in Paisabazaar. The company said it has provided the information required and will continue to provide any further information that might be required by the IT department in the future. The business operations of Paisabazaar continue as usual and have not been impacted due to the survey proceedings.
PVR Inox
Plenty Private Group and Multiples Private Group are expected to sell a 2.35 per cent stake in the multiplex chain. The offer size may be Rs 404.5 crore and in the range of Rs 1,750–1,769.5 per share, reported CNBC-TV 18.
Vedanta
The company has scheduled a meeting on December 19 to consider the proposal for the issuance of non-convertible debentures (NCD) on a private placement basis as part of its routine refinancing that is undertaken in the ordinary course of business. On December 18, the Vedanta board would be considering a second interim dividend for the ongoing fiscal.
