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Sensex plunges nearly 1000 points amid trade deficit and Fed meeting concerns

The S&P BSE Sensex plummeted nearly 1,000 points, hitting an intra-day low of 80,941.61, amid investor caution ahead of the US Federal Reserve's upcoming meeting. Key factors included a widening trade deficit of $37.8 billion and poor performance from heavyweight stocks like Reliance Industries and HDFC Bank. Despite the overall decline, midcap and smallcap stocks showed slightly better resilience, with only minor losses.

stock market crash sensex drops over 1000 points ahead of fed meeting

The stock market faced a significant downturn, with the BSE Sensex dropping over 1,000 points and the Nifty 50 declining by 1.4%. Key factors included investor caution ahead of the US Federal Reserve's meeting, fears of foreign institutional investor selling due to China's budget deficit plans, and weak global market cues. Among the major losers were HDFC Bank, Reliance Industries, and TCS, while only ITC and Hindustan Unilever showed gains in the Sensex.

Brokerage Updates IndusInd Target Price and Upgrades Indian Oil to Buy

UBS has downgraded its target price for IndusInd Bank to ₹1,150 from ₹1,350, reflecting a neutral stance and a 5% cut in EPS for FY25/26. Similarly, Axis Bank and AU Small Finance Bank also saw target reductions. HDFC Bank, ICICI Bank, and Federal Bank remain top picks amid rising non-performing loan risks.Citi maintains a neutral call on Infosys with a target of ₹1,965, noting improvements in discretionary spending, particularly in the US financial services sector. Goldman Sachs favors Syngene and Neuland in the pharma sector while expressing caution on Divi’s, Gland, and Laurus.
03:43 13.12.2024

Indian stock market rallies as Sensex and Nifty hit one-month highs

The Nifty and Sensex rallied for the second consecutive session on December 2, with gains driven by pharma, realty, and auto stocks, despite weaker-than-expected GDP data. The broader market reached a one-month high, while bond yields fell to a 30-month low. Investors are anticipating the RBI's MPC meeting on December 4, where the policy rate is expected to remain unchanged due to high inflation.

Sensex and Nifty rebound as bulls overlook GDP slowdown in India

Benchmark indices Nifty and Sensex rebounded in the afternoon on December 2, with Nifty rising to 24,170 and Sensex to 79,942, supported by gains in pharma, realty, and auto stocks. Despite India's GDP growth slowing to 5.4% in Q2, analysts suggest that the market's reaction may be muted, viewing potential dips as buying opportunities.

Shriram Finance to raise 250 million dollars through external commercial borrowing

Shriram Finance is set to raise $250 million through external commercial borrowing (ECB) in the fourth quarter of FY25, according to CEO YS Chakravarti. This announcement was made during the Trust Group's India Debt Capital Market Summit 2024. Recently, the company also secured $500 million via senior secured notes maturing in 2028 at a 6.5% interest rate.

Nifty closes above 24250 driven by gains in auto and energy sectors

The Nifty 50 index rebounded on November 27, closing above 24,250, driven by gains in auto, energy, metal, and media sectors. After a flat opening and rangebound trading, the index surged past 24,350 before some selling pressure emerged. Notable gainers included Adani Enterprises and NTPC, while Apollo Hospitals and Titan Company were among the losers. Broader indices also performed well, with the Nifty Midcap rising 0.6% and the Nifty Smallcap up 1.3%.

Indian markets gain modestly as Adani stocks rebound and autos rally

In a volatile session on November 27, the Sensex rose by 230.02 points to close at 80,234.08, while the Nifty gained 82.20 points, ending at 24,276.70. The rally was driven by gains in energy, auto, metal, and bank stocks, alongside a notable recovery in Adani Group shares, which surged by up to 12 percent. Despite some laggards like Titan Company and Wipro, market sentiment improved with indications of foreign institutional investors becoming net buyers.

Nifty and Sensex surge on BJP alliance victory despite partial gains

Nifty and Sensex closed strongly, buoyed by the BJP-led Mahayuti Alliance victory in Maharashtra, despite some intraday gains being pared. The Sensex rose by 992.74 points to 80,109.85, while the Nifty increased by 314.60 points to 24,221.90, with broad-based gains across sectors. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, highlighted the positive political message from the election for the market.

Shriram Finance shares surge on strong Q2 performance and positive outlook

Shares of Shriram Finance surged 7% to Rs 3,309 following a strong Q2FY25 performance, prompting multiple brokerages to issue 'buy' calls. HSBC raised its target price to Rs 3,725, while Nomura set a target of Rs 3,800, highlighting the company's consistent delivery and attractive valuations. Analysts noted that the firm is experiencing its most convincing operating period since 2010, with no misses in asset quality or growth.

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