Sensex Today Rallies 1,371 Points | Nifty Closes Above 20,650 | 5 Reasons Why Indian Share Market is Rising

Closing

After opening the day on the positive note, Indian share markets continued the momentum as the session progressed and ended the day on firm footing.

Equity benchmark indices scaled fresh lifetime highs on open as the Bhartiya Janata Party's (BJP) decisive win in assembly elections fuelled a sharp rally.

At the closing bell, the BSE Sensex stood lower by 1371 points (up 2%).

Meanwhile, the NSE Nifty closed higher by 417 points (up 2.1%).

L&T and Eicher Motors were among the top gainers today.

Sun Pharma and Titan, on the other hand, were among the top losers today.

The GIFT Nifty was trading at 20,800, up by 448 points, at the time of writing.

The BSE MidCap index and BSE SmallCap index ended 1.2% higher.

Sectoral indices ended higher with stocks in the banking sector, oil & gas sector and financial sector witnessing most buying.

Shares of Bosch and Shree Cement hit their respective 52-week highs today.

Now track the biggest movers of the stock market using stocks to watch today section. This should help you keep updated with the latest developments...

Asian share markets ended on mixed note. The Shanghai Composite ended flat while the Nikkei ended 0.6% lower.

The rupee is trading at 83.35 against the US$.

Gold prices for the latest contract on MCX are trading up by 0.4% at Rs 63,587 per 10 grams.

Meanwhile, silver prices were trading 0.6% lower at Rs 77,613 per 1 kg.

Here are five reasons why Indian Markets are rising today.

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#1 State election results

Dalal Street gained momentum and reached a record high after the Bharatiya Janata Party got a clear mandate in the three major northern states of India.

BJP has retained Madhya Pradesh (MP) with a strong majority and regained Rajasthan and Chhattisgarh from the Congress with a comfortable majority.

#2 Strong FII inflow

FIIs bought Indian shares worth Rs 15.9 billion (bn) on Friday on a net basis. Domestic institutional investors sold shares worth Rs 14.5 bn. FIIs also snapped a two-month selling streak in November, adding stocks worth Rs 90 bn.

#3 US Bond yield

Treasury yields hit multi-month lows last week after a US Federal Reserve official made fresh hints of interest rate cuts. The two-year yield hit its lowest since mid-July at 4.6% and the benchmark 10-year yield fell to its lowest since September at 4.23%

#4 Falling crude oil prices

Oil futures fell on Monday amid geopolitical tension in the Middle East returned to focus, spurring concerns about supply from the region, but uncertainty over OPEC+ voluntary output cuts and global fuel demand growth clouded the sector's outlook.

Brent crude futures fell 52 cents, or 0.5%, to US$ 78.4 a barrel, while US West Texas Intermediate crude futures were at US$ 73.6 a barrel, down 0.6%.

#5 The rupee factor

The Indian rupee rose 6 paise to US$ 83.27 against the US dollar in early trade, aided by a drop in US Treasury yields following comments from Federal Reserve Chair Jerome Powell and on the back of state election victories for India's ruling party.

The dollar index, which tracks the movement of the greenback against a basket of six major world currencies, rose 0.03% to 103.29 level.

Speaking of stock markets, when it comes to famous turnarounds of the last one year, no discussion can be complete without Suzlon Energy.

The stock was arguably on the top of the list of every market pundit.

For perspective, the stock is up a whopping 312% in the last one year, far outperforming the close to 40% returns earned by the BSE Small Cap index.

By the way, it is up a huge 20x from its March 2020 lows. Talk of life changing investments!

However, there is a risk to investing in a stock like Suzlon Energy and ignoring this risk could prove fatal over the long run.

Co-head of research, Rahul Shah, in his latest video talks about what exactly is this risk and how should one minimise it.

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L&T Surges 5% And Hits Fresh High. Here's Why

In news from the engineering sector, Shares of Larsen & Toubro (L&T) surged 5% to hit a new high of Rs 3,347.25 on the BSE in Monday's intra-day trade amid heavy volumes led by a strong business outlook.

This can be further attributed to its incorporation of a new wholly-owned subsidiary L&T Semiconductor Technologies.

The stock of engineering, procurement and construction (EPC) major topped its share buyback price of Rs 3,200 per share today.

L&T had bought back 31.25 million equity shares of the company via a tender offer, which opened on 18 September 2023 and closed on 25 September 2023.

In the past three decades, the company's shares grew at a CAGR of 26.4%, whereas the benchmark index BSE Sensex saw a growth (CAGR) of 16.5% during the same time.

L&T has been an investor's favourite stock for a long time and also a stock that makes it to the top 5 infrastructure stocks.

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In line with its commitment to a sustainable future, L&T is poised to make significant strides in the green hydrogen landscape. For more details, check out L&T's next big leap in the green hydrogen space.

Som Distilleries Expands Beer Reach to Tamil Nadu

Moving on to news from the food & tobacco sector, Som Distilleries announced receiving the Karnataka Excise Department's approval to supply premium beer brands in Tamil Nadu. The stock gained nearly 5% after the announcement.

In QFY24, the company's beer volume increased 40.5 YoY to 40.3 lakh cases. Brands like Hunter and Blackfort recorded volume growth of 24.1% and 36.7%, respectively, compared to the previous quarter.

Hunter and Blackfort are among the key millionaire brands that have sales of more than 1 million cases per annum for the company.

In July, Som Distilleries received approval to supply beer in Rajasthan. The company said Rajasthan is one of the top five states in consumption nationwide.

Shares of Som Distilleries have surged 153% in the year-to-date period. Meanwhile, FIIs have reduced their stake in the company from 1.1% in the June quarter to 0.9% in the September 2023 quarter.

At the same time, DIIs have increased from 0.2% in the June quarter to 0.5% in the September quarter.

Som Distilleries and Breweries manufactures and sells spirits, beer, and alcopop in India and internationally. The company offers beer, whisky, rum, vodka, brandy, etc.

The shareholding pattern of Som Distilleries and Breweries shows that the insiders or promoters have increased their stake in this beverage company for five consecutive quarters.

Consistent promoter buying indicates the promoter's confidence in the company.

No Wonder Dolly Khanna bought a stake in this liquor company.

To know what's moving the Indian stock markets today, check out the most recent share market updates here.

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Sensex Today Zooms 1,000 Points | Adani Green Energy Jumps 8% | Adani Enterprises, Coal India Top Gainers

10:30 am

Asian shares started firmer on Monday while gold hit another record high in a busy week for economic data that will test market wagers for early and aggressive rate cuts from major central banks next year.

The Nikkei is trading 0.7% lower while the Hang Seng index is trading 0.3% lower. The Shanghai Composite is trading flat.

US stocks rebounded in November following three straight months of declines on better-than-expected earnings and as evidence of easing inflation boosted bets that the Fed was at the end of its monetary tightening campaign.

Here's a table showing how US stocks performed on Friday:

Stock/Index	LTP	Change ($)	Change (%)	Day High	Day Low	52-Week High	52-Week Low
Alphabet	133.32	-0.6	-0.45%	133.5	132.15	142.38	85.57
Apple	191.24	1.29	0.68%	191.56	189.23	198.23	124.17
Meta	324.82	-2.33	-0.71%	326.86	320.76	342.92	112.46
Tesla	238.83	-1.25	-0.52%	240.19	231.9	299.29	101.81
Netflix	465.74	-8.23	-1.74%	475.23	464.6	485	273.41
Amazon	147.03	0.94	0.64%	147.25	145.55	149.26	81.43
Microsoft	374.51	-4.4	-1.16%	378.16	371.31	384.3	219.35
Dow Jones	36245.5	294.61	0.82%	36264.85	35914.45	36264.85	31429.82
Nasdaq	15997.58	49.71	0.31%	16013.75	15834.93	16166.51	10671.19

Source: Equitymaster

At present, the BSE Sensex is trading 1000 points higher and NSE Nifty is trading 310 points higher.

Adani Enterprises and Coal India are among the top gainers today.

Britannia and Maruti Suzuki on the other hand are among the top losers today.

Broader markets are trading on positive note. The BSE Mid Cap index and the BSE Small Cap index is trading higher by 0.9%.

Sectoral indices are trading positive today, with stocks in power sector, oil & gas sector and energy sector witnessing most buying.

Shares of Bosch and Bajaj Auto hit their 52-week high today.

The rupee is trading at Rs 83.33 against the US dollar.

In commodity markets, gold prices are trading 0.9% higher at Rs 63,934 per 10 grams today.

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Meanwhile, silver prices are trading 0.2% higher at Rs 78,268 per 1 kg.

Now track the biggest movers of the stock market using stocks to watch today section. This should help you keep updated with the latest developments...

Speaking of stock markets, when it comes to famous turnarounds of the last one year, no discussion can be complete without Suzlon Energy.

The stock was arguably on the top of the list of every market pundit.

For perspective, the stock is up a whopping 312% in the last one year, far outperforming the close to 40% returns earned by the BSE Small Cap index.

By the way, it is up a huge 20x from its March 2020 lows. Talk of life changing investments!

However, there is a risk to investing in a stock like Suzlon Energy and ignoring this risk could prove fatal over the long run.

Co-head of research, Rahul Shah, in his latest video talks about what exactly is this risk and how should one minimise it.

{adoai1}

Hero MotoCorp registers 25% growth in November

Hero MotoCorp sold 4,91,050 units in November 2023. The company sold 4,76,286 two-wheelers in the domestic market, as compared to selling 3,79,839 units in November 2022, registering a YoY growth of 25%.

The company registered a double-digit growth of 26% over the corresponding month of the previous fiscal when it sold 390,932 units in November 2022.

Hero MotoCorp expects the demand to be on a healthy trajectory in the coming months on account of favourable economic indicators, including the ongoing marriage season and positive consumer sentiments.

In November 2023, Hero MotoCorp made a splash at the EICMA Motor Show in Milan, announcing a slew of strategic initiatives, including extensive growth plans to expand its footprint in electric mobility, enter new ICE vehicle categories and foray into Europe.

The company also recorded its highest-ever festive sales, clocking more than 14 lakh (1.4 million) units in retail sales during the 32-day festive period - between the first day of the Navratras and Bhai Dooj - this year.

In the past month, the stock is up around 23%.

This kind of surge is considered extraordinary for a large-cap stock. To know what is fuelling the rally, check out Why Hero MotoCorp Share Price is Rising.

BlackRock Boosts Suzlon Energy Stake

Investment firm BlackRock Inc's equity holding has surpassed the five percent level in renewable energy solution provider Suzlon Energy with the acquisition of about 2.4 m shares.

The aggregate holdings of BlackRock, Inc. (on behalf of discretionary management clients) in Suzlon Energy Limited have moved above 5%.

The filing showed that BlackRock has acquired 24,73,442 shares or 0.02% in Suzlon Energy, in addition to 68,02,13,598 shares or 4.99% already held in the company.

After the acquisition of 24,73,442 shares on 30 November 2023, BlackRock's aggregate holding has increased to 5.01% in Suzlon Energy.

Suzlon Energy shares are up 195% in 2023 so far. To know what's next, check out Why Suzlon Energy Share Price is Rising.

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GAIL Sues SEFE in LNG Deal Dispute

India's largest gas firm GAIL (India), on Friday, said the company has filed an arbitration case against SEFE Marketing & Trading Singapore Pte (formerly Gazprom Marketing and Trading Singapore Pte Ltd) in the London Court of International Arbitration.

The claims, filed on 30 November 2023, amount to US$ 1.8 bn and encompass issues related to the non-supply of LNG cargoes to GAIL under a long-term contract.

GAIL, in 2012, signed a 20-year deal to buy 2.85 million tonnes per annum (MTPA) of liquefied natural gas (LNG) with Russian energy giant Gazprom.

Supplies started in 2018, and the entire volume was to reach in 2023.

The deal was signed with Gazprom Marketing and Singapore (GMTS), which at the time was a unit of Gazprom Germania, now SEFE. But in early April last year, Gazprom gave up the ownership of the German unit without giving a reason and placed parts of it under Russian sanctions.

This followed the West slapping sanctions on Russia for its 24 February invasion of Ukraine. It invoked a force majeure and stopped supplies to India from June 2022.

The transition from grey to green hydrogen is happening at a faster pace than expected. GAIL is contributing to this transition, making it among India's Top Green Hydrogen Stocks.

And to know what's moving the Indian stock markets today, check out the most recent share market updates here.

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Gift Nifty Up 277 Points | Adani Group's Bond Prepayment | Why Siemens AG Acquired Stake At Discount | Top Buzzing Stocks Today

Pre-Open

On Friday, Indian share markets continued the momentum as the session progressed and ended the day higher.

Equity benchmark indices ended higher, while Nifty 50 hit a fresh record high on Friday, as faster-than-expected economic growth in the September-quarter added to optimism over the global interest rate outlook.

At the closing bell on Friday, the BSE Sensex closed higher by 492 points (up 0.7%).

Meanwhile, the NSE Nifty closed higher by 116 points (up 0.6%).

ITC and NTPC were among the top gainers.

M&M and Wipro on the other hand, were among the top losers.

Broader markets ended on positive note. The BSE MidCap index ended 0.9% higher and the BSE SmallCap index ended 0.5% higher.

Barring auto sector, all other sectoral indices ended the day on a positive note with stocks in power sector, realty sector and FMCG sector witnessing most buying.

Shares of Apollo Hospitals, Titan and JK Cement hit their 52-week high on Friday.

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The rupee was trading at 83.30 against the US$.

Gold prices for the latest contract on MCX were trading 0.4% higher at Rs 62,889 10 grams at the time of Indian market closing hours on Friday.

At 7:55 AM today, the Gift Nifty was trading up by 277 points or 1.4% higher at 20,630 levels.

Indian share markets are headed for positive opening today following the trend on Gift Nifty.

Speaking of stock markets, Co-head of research, Tanushree Banerjee, in her video talks about how AI is transforming the business models of decades old tech majors in India.

It is a matter of time before they help other no tech companies transform themselves too.

Tune in to below video to know how 2024 can be the year of return of India's big tech stocks.

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Top buzzing stocks today

PFC share price will be in focus today.

Power Finance Corporation Ltd (PFC) shares surged more than 9% on 1 December 2023 following the announcement that its wholly-owned subsidiary, PFC Consulting, has established a special purpose vehicle (SPV) named Paradeep Transmission.

PVR-Inox will also be a top buzzing stock.

Shares of PVR-Inox gained 2% to the day's high of Rs 1,755 per share on December 1 after the company opened its new 6-screen property at Jio World Plaza in Mumbai.

Adani Group's Bond Prepayment Plan

The Adani Group is working on a plan to raise US$ 350 million through dollar bonds next year, primarily to refinance a US$ 500 million RG1 (restricted group 1) bond due to mature in December 2024.

RG1 is a restricted group with a solar generation capacity of 930 MW, and includes three subsidiaries of Adani Green, Adani Green Energy (UP) Limited, Parampujya Solar Energy Private Limited (PSEPL) and Prayatna Developer.

The group may also call the bonds in July 2024, six months ahead of maturity.

For the September 2024 bond, Adani has set up an escrow account as part of the bond redemption reserve account, as stipulated in the original bond document, he said. Adani plans to issue the compliance certificate by December 10-11.

In all Adani Group has raised $9 billion in debt from global markets through the issuance of 17 bonds. Among these bonds, Adani Green Energy's US$ 750-million, 4.34% bond maturing in September 2024 has seen the most volatility.

In response, the management had put in place a financial plan by July this year, assuring investors that funds would be placed in escrow one year ahead of maturity.

For more details, check out Equitymaster's Indian stock screener, which shows all the Adani group companies' fundamental analysis on one screen.

Dig deeper into Adani group stocks.

Siemen AG To Acquire Siemens' Stake at Discount

Siemens AG (Siemens Aktiengesellschaft, Germany) will buy an 18% stake in the company from Siemens Energy Holding BV for Rs 2952.7 per share, which is a discount of 21.3% from the last closing price.

The buyer will acquire 6,41,01,646 shares in the company and thus the value of the transaction will be Rs 189.3 bn.

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The development follows an earlier announcement when Siemens AG said it intended to enter into a share purchase agreement with Siemens Energy to acquire the stake in its Indian arm. The purchase consideration was set at €2.1 billion.

Siemens AG and Siemens Energy Holding BV are promoters of Siemens. The transaction will be inter-se transfer among promoter entities.

As of September end, Siemens AG held zero stake in the firm despite being listed as a promoter. Siemens Energy Holding BV held 24% of the company.

Siemens AG has proposed to acquire the shares on or after 8 December.

According to the earlier announcement, Siemens and Siemens Energy also agreed to propose to the board of Siemens India a demerger of the energy business.

Siemens Energy will ultimately acquire a controlling stake in the demerged energy business. The demerger is proposed to be completed in 2025, earlier than previously planned.

To know which companies are driving the country's growth and development, check out the top engineering companies in India.

Maruti Suzuki's November Sells Flat

Maruti Suzuki India, on Friday, reported a 3.4% rise in total sales at 1,64,439 units in November 2023, as compared to 1,59,044 units in the same month last year.

Total domestic sales, comprising passenger vehicles, commercial vehicles and third-party supplies, were at 1,41,489 units last month as against 1,39,306 units in the year-ago period, up 1.57%.

Overall domestic passenger vehicle (PV) sales stood at 1,34,158 units last month, as compared to 1,32,395 units in November 2022, a growth of 1.3%.

Sales of entry-level mini cars, comprising the Alto and S-Presso, were lower at 9,959 units, as compared to 18,251 units in the same month last year.

Similarly, sales of compact cars, including models such as the Baleno, Celerio, Dzire, Ignis, Swift, Tour S, and WagonR, were lower at 64,679 units in November 2023 as compared to 72,844 units in the year-ago month.

On the other hand, utility vehicle sales, comprising Brezza, Ertiga, Fronx, Grand Vitara, Invicto, Jimny, S-Cross, and XL6, were higher at 49,016 units last month as against 32,563 units in the same period a year ago.

Maruti Suzuki is at the forefront of the electric vehicle (EV) megatrend.

The revolution has taken the auto sector by storm. All segments of the sector are ripe for disruption, and India's top EV stocks are set to benefit from this shift.

To know more, check out: Maruti Suzuki Share Price at Rs 15,000: Realistic or Farfetched?

To know what's moving the Indian stock markets today, check out the most recent share market updates here.