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Business

Sensex Soars: Record Highs with 955 Points Gain

Record-Breaking Surge: Indian Stock Market Hits All-Time Highs with Sensex Up by 955 Points

In today’s trading, the stock market in India reached a new all-time high. The BSE Sensex, which includes 30 major stocks, went up by 955 points, reaching a record of 70,540. The broader NSE Nifty index also increased by 263 points, hitting a new high of 21,189.55.

Not only the major stocks but also smaller and mid-sized ones saw positive movements. The Nifty Midcap 100 rose by 0.84%, and small-cap stocks gained 1.13%. The India VIX, an index indicating market fear, went up by 3.23% to 12.46.

This surge is attributed to the rise in shares of IT companies, which make a significant portion of their revenue from the US. This comes after the Federal Reserve mentioned progress in easing inflation while keeping interest rates steady.

In the global market, Asian markets mostly showed positive trends, and Wall Street equities gained in the previous session.

Foreign portfolio investors (FPIs) bought Indian shares worth Rs 4,710.86 crore, while domestic institutional investors (DIIs) sold shares worth Rs 958.49 crore.

Among the 15 sector gauges compiled by the NSE, 12 were trading positively. Sectors like IT, Banking, and Financial Services outperformed, while Pharma, Healthcare, and Media sectors faced declines.

On a stock-specific note, Tech Mahindra led the gains in the Nifty pack, rising by 3.73%. Other gainers included HCL Tech, LTIMindtree, Wipro, and Bajaj Finance.

However, some stocks, such as PowerGrid, BPCL, Cipla, Nestle India, and Sun Pharma, faced declines.

The market breadth was positive, with 2,199 shares advancing and 765 declining on BSE. Notable gainers on the BSE index included HDFC Bank, ICICI Bank, Infy, Reliance Industries, Tata Consultancy Services, Axis Bank, and Bajaj Finance.

Additionally, Sonata Software, Mastek, Adani Total Gas, Mphasis, HUDCO, Adani Green, Manappuram Finance, and Zensar Technologies saw significant surges, while Chambal Fertilisers, Hindustan Zinc, Nippon Life India Asset Management, and Vedant Fashions faced declines, falling up to 2%.

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Business

Market Insights: Factors Driving Sensex and Nifty Fluctuations

Market Turbulence: Sensex Drops, Nifty Slips – Key Factors Unveiled!

Stocks in India faced a bit of a rough day as the Sensex, a collection of 30 major stocks, dropped by 123 points (about 0.18%) to 69,428. The Nifty, which includes more stocks, also went down by 24 points (0.11%) to 20,882. This decline was mainly because of issues with bank, financial, and information technology (IT) stocks.

Despite this, smaller companies, known as mid-cap and small-cap shares, were doing okay. The Nifty Midcap 100 went up by 0.02%, and small-cap stocks climbed by 0.15%. However, the fear index, called India VIX, rose by 0.53% to 12.78.

Overnight in the US, the stock market did well, but in Asia, many markets were down. People are now waiting to hear from the US Federal Reserve about its policy decision, which is set to be announced on Thursday at 12:30 am.

In India, inflation, or the increase in prices of goods and services, went up to 5.55% in November, mostly because food prices increased.

Foreign investors bought shares worth Rs 76.86 crore, and domestic investors bought shares worth Rs 1,923.32 crore during the previous session.

Out of 15 sector measures, eight were down. Sectors like banking, financial services, and IT were not doing as well, falling by 0.25%, 0.26%, and 0.72%, respectively. On the positive side, the auto and FMCG sectors were up by 0.32% and 0.34%.

Looking at individual stocks, Infosys was the biggest loser in the Nifty group, falling by 1.31% to Rs 1,456.75. Other companies like TCS, ONGC, HDFC Life, and Axis Bank also fell. On the flip side, companies like Eicher Motors, NTPC, BPCL, ITC, and Hero MotoCorp were among the top gainers.

Among the 30 stocks in the BSE index, HDFC Bank, Infosys, TCS, Axis Bank, Bajaj Finance, and Kotak Mahindra Bank were the biggest losers.

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Certain stocks, like Bank of India, Adani Total Gas, Sonata Software, Suntech Realty, and Paytm, took a hit, falling by up to 5.57%. On the other hand, stocks like Vaibhav Global, PFC, Tanla Platforms, Equitas Small Finance Bank, Motilal Oswal Financial Services, Chalet Hotels, and KPIT Tech rose by up to 6.97%.

Overall, more stocks were gaining (1,852) than declining (1,080) on the BSE, showing a positive market breadth.

Source.

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Newsbeat

Hyderabad Emerges as Second-Largest Office Space Supply Market in India

Hyderabad is poised to become the second-largest office space supply market in India, after Bengaluru, according to a report by CBRE South Asia Pvt. Ltd. The report, titled “Office Space Revolution,” reveals that office supply completions across the country’s top seven cities are projected to exceed a staggering 165 million square feet between 2023 and 2025, marking a substantial increase from the 142 million square feet recorded during the 2020-2022 period.

Hyderabad is expected to contribute 20% of the total new office space supply in India during this period, or 33 million square feet. This will make it the second-largest office space supply market in the country, after Bengaluru, which is projected to contribute 29%.

The report attributes the strong growth in Hyderabad’s office space supply to the city’s emergence as a major hub for the IT, BFSI, and pharmaceutical sectors. The city is also home to a number of multinational companies and startups.

The report also highlights the fact that Hyderabad is a relatively affordable city, with lower office space rents than other major Indian cities such as Bengaluru and Mumbai. This is making the city an increasingly attractive destination for businesses looking to expand or relocate their operations.

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