Stock Market Live Updates: Market Hits Record High; Nifty Near 21,000, Nifty Bank Off Highs

The Indian equity market marked its third consecutive session of trading at life-time highs on Wednesday, with the BSE Sensex surging 317 points to reach an all-time high of 69,614. Meanwhile, the NSE Nifty index also climbed 101 points higher to scale a fresh peak of 20,957. The rally was underpinned by robust performances in the energy, pharma, and consumer sectors.

India's benchmark indices touched fresh record highs on Tuesday, as BSE Sensex closed 0.63% higher to 69,296 points, while NSE Nifty 50 index rose 0.81% to 20,855 points.

The sectors that led the market rally on Tuesday included financial and energy stocks, while the BJP winning three state assembly elections also boosted investors' sentiments.

Wall Street's main indexes closed mixed on Tuesday as investors waited for a slew of data, including the crucial jobs report, to gauge whether the Federal Reserve will cut interest rates by early next year. At market close in NYSE, the Dow Jones Industrial Average declined 0.22%, while the S&P 500 index slipped 0.06%, and the NASDAQ Composite index was up 0.31%.

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Dec 06, 2023, 3:27 pm IST

RBI Meeting Preview

The Reserve Bank of India (RBI) is expected to hold rates at more than a 5-year high of 6.5% for the fifth time in a row on December 8th, according to a GoodReturns poll. Six-member Monetary Policy Committee's (MPC) three-day policy meeting commenced on Wednesday, and its outcome will be announced early of Friday. The meeting is chaired by RBI governor Shaktikanta Das.

Dec 06, 2023, 3:25 pm IST

Smallcap Hits New 52-week High

Himadri Speciality Chemicals Ltd. has received approval from its board to step into Lithium-ion Battery (LiB) components manufacturing. The company plans to establish a state-of-the-art manufacturing facility with an annual production capacity of 2,00,000 metric tonnes, either directly or through its subsidiaries.

Dec 06, 2023, 11:42 am IST

HAL Hits Record High, Stock Climbs Nearly 4%

In Wednesday's trading session, shares of Hindustan Aeronautics Ltd. (HAL) have surged by an additional 3.5%, reaching an all-time high. Remarkably, this marks the ninth consecutive day of gains for the state-run defence equipment manufacturer.

Dec 06, 2023, 11:28 am IST

Nifty Media Stocks Continue With The Gaining Momentum

All 10 stocks listed in the Nifty Media index are currently showing positive gains. Notably, leading the pack of gainers within the index are TV18 Broadcast, Dish TV, and Hathway.

Dec 06, 2023, 9:56 am IST

Hindustan Zinc Board Approves Second Interim Dividend Of Rs. 6 Per Equity Share, Stock Rises

The Board of Directors of Hindustan Zinc Ltd through the resolution passed by circulation on Wednesday, December 06, 2023, has approved a second Interim Dividend of Rs. 6 per equity share i.e. 300% on the face value of Rs. 2/- per share for the Financial Year 2023-24 amounting to Rs. 2535.19 Crores. The record date for the purpose of payment of the interim dividend, as already communicated is Thursday, December 1. Hindustan Zinc shares were up 1.48% at Rs 329.70 per share at 9:49 am IST today.

Dec 06, 2023, 8:51 am IST

Stocks In Focus: Himadri Speciality, HDFC Bank, SBI, Bank Of India

Himadri Speciality: Himadri Speciality shares will remain in focus today as the company said that it will set up a Manufacturing facility for the production of Lithium-ion Battery (LiB) components with a total annual production capacity of 200,000 MT either directly and/or through its subsidiaries with an estimated project cost of Rs. 4,800 Crores in phases over a period of 5 to 6 years. The share price of Himadri Speciality Chemical Ltd closed 7% higher at Rs 290.70 per share on Tuesday. HDFC Bank: HDFC Bank shares will remain in the spotlight today as the country's largest private sector lender has sought approval from the shareholders for the re-appointment of Sashidhar Jagdishan as the managing director and CEO of the bank and the appointment of V Srinivasa Rangan as an executive director of the bank. SBI: SBI shares will remain on investors' watchlist today as the lender is acquiring up to 20% additional stake in SBI Pension Funds for Rs 229.5 crore. With this transaction, SBI’s stake in SBI Pension Funds will reach 80%. Bank of India: The lender has started a qualified institutional placement (QIP) at a floor price of Rs 105.42 per piece. The public sector lender is reportedly looking to raise up to Rs 4,500 crore.

Dec 06, 2023, 8:18 am IST

Asian Markets Open Higher Today

Japan's Nikkei was up 1.63% in the early trade. At the time of writing this article, South Korea’s Kospi was up 0.58% at 2,508.79 points, and the small-cap Kosdaq rose 0.49%. Topix was up over 1%. Hong Kong’s Hang Seng index futures were up 0.49% at the time of writing this story.

Dec 06, 2023, 8:16 am IST

GIFT Nifty Indicates A Positive Start

GIFT Nifty was up 0.14% at 21,034 points at the time of writing this story, indicating that the Indian equity market was headed for a positive start on Wednesday.