fbpx
  Previous   Next
HomeBusinessSensex Jumps 651 Points, Nifty Ends Above 18K

Sensex Jumps 651 Points, Nifty Ends Above 18K

Benchmark indices ended higher on January with Nifty retesting 18000 led by the PSU Bank, IT, Auto, Capital Goods, Power stocks.

At close, the Sensex was up 650.98 points or 1.09% at 60,395.63, and the Nifty was up 190.60 points or 1.07% at 18,003.30. About 2472 shares have advanced, 948 shares declined, and 88 shares are unchanged.

UPL, Hero MotoCorp, Titan Company, Tata Motors and Maruti Suzuki were among the top Nifty gainers. Losers were Wipro, Nestle, Divis Labs, Asian Paints and Power Grid Corp.

All the sectoral indices ended in the green with PSU Bank, IT, Auto, Capital Goods, Power, Bank, Realty indices up 1-3 percent. BSE midcap and smallcap indices were up 0.7-1 percent.

Brokerage firm CLSA India expects the Union Budget 2022-23 to bring in measures that will boost the consumption demand in the economy.
The brokerage firm noted that demand has started to constrain economic growth in India with the first advance estimate for 2021-22 indicating private consumption expenditure has declined 2.9% in real terms.

“We expect Budget 2022 to boost demand with cuts in oil taxes, lower income taxes and incentives to real estate. The issuance of NABFID infrastructure bonds to fund public investment would create fiscal space to support consumption,” the brokerage firm said.

Edelweiss Housing Finance Limited (EHFL) and ECL Finance Limited (ECLF), today announced a strategic co-lending agreement for Priority Sector Lending with Indian Bank. The lenders recently signed an MoU under RBI’s CLM, significantly expanding the portfolio of lending products available to the target customers, increasing their access to credit, the company said in its release.

Edelweiss Financial Services was quoting at Rs 73.85, up Rs 0.30, or 0.41 percent on the BSE.

Fitch Ratings has assigned a ‘BBB-(EXP)’ expected rating to State Bank of India’s (SBI, BBB-/Negative) proposed senior unsecured notes, which will constitute its direct, unconditional, unsubordinated and unsecured obligations and will at all times rank pari passu among themselves and with all of SBI’s other unsubordinated and unsecured obligations. The notes will be issued by SBI’s London branch.

State Bank of India was quoting at Rs 502.75, up Rs 11.45, or 2.33 percent.

Data analytics company Course5 Intelligence has filed a draft red herring prospectus with the capital markets regulator SEBI, to raise funds through an initial public offering (IPO).

The company is planning to mop up Rs 600 crore via a public offer that comprises fresh issuance of shares worth Rs 300 crore and an offer for sale of Rs 300 crore by promoters.

The offer for sale consists of shares worth Rs 32.5 crore by Ashwin Ramesh Mittal, while Riddhymic Technologies and Riddhymic Technoserve LLP will sell shares worth Rs 40 crore each via OFS.

Also AM Family Private Trust will offload shares worth Rs 112.5 crore and Kumar Kantilal Mehta will sell shares worth Rs 75 crore via offer for sale.

Shares of Tata Consultancy Services (TCS) surged about 3.5% after the firm said its board will consider buyback of shares on 12 January.

The board will also meet to announce third-quarter earnings. This will be the fourth buyback and in the earlier three buybacks Tata Sons was the biggest beneficiary.

In 2021, TCS bought back more than 53 million shares at Rs 3000 a share and 33.33 million shares were accepted under the offer. In 2017 and 2018 as well it undertook two buybacks and the size was around Rs 16000 crore each. At the end of September 2021, TCS had cash and cash equivalents of Rs 51950 crore.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

More News

India Has Two Major Obstacles In Dealing With China: Jaishankar 

Speaking at the media summit, Mr. Jaishankar said asserted that India has two enormous handicaps in dealing with China including the defeat in the...

Assam CM’s Dig At Rahul Gandhi Says Rahul Gandhi Looks Like Saddam Hussain

Assam chief minister Himanta Biswa Sarma in his latest dig at Rahul Gandhi said that the Congress leader's looks have changed and he looks...

Nearly 75% Twitter Employees Layoffs In A Month, Will Elon Musk’s New Policy Be Able To Assure The Employees

After cutting nearly 75% workforce of Twitter in less than a month since the takeover, Elon Musk is now reported to have kept the...

RELATED NEWS

Keep Your Money Safe, Jeff Bezos Warns Economic Recession

Amazon founder Jeff Bezos recently warned consumers and businesses that they should consider postponing large purchases during the holiday season as an economic recession...

G20 Presidency Is A Proud Occasion For Every Indian: PM Modi

Indonesia President Joko Widodo handed over the G20 Presidency to India at the closing ceremony of the 17th intergovernmental summit in Bali on Wednesday....

Unmanned Trains Will Run Soon In India

Bharat Electronics Ltd (BEL) has signed an agreement with Delhi Metro Rail Corporation Ltd (DMRC) to jointly develop an indigenous communication-based train control system...