Indian benchmark indices settled at a record high for the second consecutive day on Thursday, boosted by lower crude oil prices in global markets and fresh foreign fund inflows amid largely positive global cues. According to traders, hectic buying in energy, metal and FMCG stocks also lifted the sentiment.
The BSE Sensex jumped 371.95 points or 0.52 per cent to settle at an all-time closing high of 72,410.38. The NSE Nifty gained 123.95 points or 0.57 per cent to settle at a new record high of 21,778.70.
“The benchmark index maintained its optimism and hit fresh high owing to ease in Red Sea issue and reversal of FII inflows. A decline in crude oil prices below $80 prompted widespread purchasing across oil and energy companies. The Asian market too advanced due to an expectation of more aggressive rate cuts by fed next year. While the global market was largely experiencing consolidation due to valuation concerns,” said Vinod Nair, Head of Research at Geojit Financial Services.
Top Stocks To Watch On 29 December:
Suzlon Energy
The renewable energy solutions company bagged an order for the development of a 300-MW wind power project for Apraava Energy, the company informed in a filing on Thursday. Last week, the company received a repeat order for the development of a 193.2 MW wind power project from the KP Group.
Tata Coffee
The composite scheme of arrangement between Tata Coffee, Tata Consumer Products, and its wholly-owned subsidiary TCPL Beverages & Foods (TBFL) will be effective January 1, 2024. With the scheme becoming effective on January 1, 2024, Tata Coffee’s plantation business will be demerged into TCPL Beverages & Foods, and the remaining business will be merged with Tata Consumer Products.
Punjab National Bank
The public sector bank said the Board of Directors has approved the proposal for raising up to Rs 7,500 crore in one or more tranches during the next financial year though qualified institutional placement (QIP).
Aditya Birla Fashion and Retail
The company has increased its holding in subsidiary Finesse International Design (FIDPL) to 63.5 per cent from 58.7 per cent for Rs 20 crore.
Tata Steel
The Uttar Pradesh State Pollution Control Board has imposed an environmental damage compensation of Rs 6.75 lakh with respect to the company’s Sahibadad plant. The company has paid the environmental damage compensation on a non-prejudice basis.
