NIFTY50: 21,456 ▲ 273 (+1.2%)
SENSEX: 71,483 ▲ 969 (+1.3%)
- Benchmark indices rose for the third straight day
- In all, 38 of the NIFTY50 stocks closed in the green
- India’s trade deficit declined to $20.58 billion in November 2023 from $22.1 billion in the same month last year
Among the NIFTY sectoral indices, IT (+4.5%) and PSU Bank (+2.3%) were the top gainers, while Realty (-0.7%) and FMCG (-0.3%) were the top losers.
What's Up
| Top gainers | Today's change |
| HCL Tech | 1,493 ▲ 79 (+5.5%) |
| TCS | 3,871 ▲ 203 (+5.5%) |
| Infosys | 1,576 ▲ 75 (+5.0%) |
What's Down
| Top losers | Today's change |
| HDFC Life | 672 ▼ 12 (-1.8%) |
| Nestle India | 24,412 ▼ 381 (-1.5%) |
| Bharti Airtel | 994 ▼ 10 (-1.0%) |
Market Sentiment
| USD-INR | 82.99 ▼ 0.29 (-0.3%) |
| NIFTY MIDCAP 100 | 45,586 ▲ 52 (+0.1%) |
| NIFTY SMALLCAP 100 | 14,885 ▲ 104 (+0.7%) |
| India VIX | 13.13 ▲ 0.81 (+6.5%) |
Stock Buzz
⭐ Life insurance stocks fall after IRDAI's new proposal
Shares of major life insurers, including HDFC Life (-1.8%), ICICI Prudential Life (-2.2%), LIC (-2.5%), fell today after the insurance regulator IRDAI's proposed a new methodology to calculate the surrender value for life insurance policies. Surrender value is the money that an insurance company pays to the policyholder in case of premature discontinuation of policies. As per experts, this new method could lead to higher payouts in the range of 10% to 200%, which will directly impact the margins and profitability of life insurance companies.
⭐ Hero MotoCorp increases stake in Ather Energy
The two-wheeler maker has acquired an additional 3% stake in Ather Energy for ₹140 crore. After this acquisition Hero MotoCorp now holds a 39.7% stake in the company. Meanwhile, shares of Hero MotoCorp closed 0.1% higher today. As per media reports, Ather Energy is expected to launch its IPO in 2024.
⭐ BEL rises on new defence order win
Shares of the defence component maker Bharat Electronics Ltd (BEL) rose 3.2% today. This was after the company bagged an order worth ₹4,522 crore from the Indian army. The order includes supply of fuses for various calibres. The company’s order book for the current fiscal year now stands at ₹23,176 crore.
⭐ Genus Power hits upper circuit on order win
Shares of the smart metering solutions provider were locked in the 5% upper circuit today. This was after the company received an order worth ₹1,026 crore to supply, install, and commission around 10 lakh smart prepaid meters. With this, the total order book of the company for FY24 has surpassed the ₹20,000 crore mark.
IPO Corner
⭐ The DOMS Industries IPO was subscribed 93.4 times on the last day of subscription. The listing date for the IPO is tentatively fixed as 20 December 2023.
⭐ The IPO of India Shelter Finance Corporation was subscribed 36.7 times on the last day of subscription. The company’s shares will tentatively list on 20 December 2023.
⭐ Meanwhile, the IPO of INOX India received a subscription of 7.1 times on the second day. To know more and apply for the IPO, click here.
Learn with Upstox
What is a demat account nominee?
A nominee for a demat account is a person whom the account holder designates to receive the securities held in the account if the account holder dies. Nominees can be individuals, including family members. It is necessary to add nominee information to your demat account. As per SEBI notification, the last date for investors to add nominees to their demat account is 31 December 2023.
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