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The market capitalisation of <keyword id="22204882" type="General" weightage="100" keywordseo="BSE-listed-firms" source="keywords">BSE-listed firms</keyword> hit an all-time high of Rs 438.41 lakh crore on Thursday, fuelled by a record-breaking rally in equities where the <keyword id="19896382" type="General" weightage="20" keywordseo="Sensex" source="keywords">Sensex</keyword> breached the historic 79,000 mark for the first time. Rallying for the fourth day running, the 30-share BSE Sensex jumped 568.93 points or 0.72% to settle at a new closing peak of 79,243.18 on Thursday. During the day, it zoomed 721.78 points or 0.91% to hit the new lifetime peak of 79,396.03. In the past four trading days, the BSE benchmark jumped 2,033.28 points or 2.63% The market capitalisation of BSE-listed companies hit a lifetime high of Rs 4,38,41,960.73 crore ($ 5.25 trillion). Investors' wealth has gone up by Rs 3.93 lakh crore in four trading sessions. Remarkably, the BSE benchmark took just two trading sessions to cover the journey from the 78,000 level hit on June 25 to breach the 79,000 mark on June 27. The <keyword id="19896381" type="General" weightage="20" keywordseo="Nifty" source="keywords">Nifty</keyword> ended at a fresh record high of 24,044.50, rising 175.70 points or 0.74%. Intra-day, it soared 218.65 points or 0.91% to hit the all-time peak of 24,087.45. The Nifty hit the 23,000 mark on May 24 this year. Among the 30 Sensex companies, <keyword id="19963567" type="General" weightage="20" keywordseo="UltraTech-Cement" source="keywords" meta.keywordsubtype="org" meta.entityname="UltraTech Cement" meta.hostid="261" meta.entityid="UltraTech Cement">UltraTech Cement</keyword> jumped 5% after the country's leading cement maker said it will acquire a 23% stake in its Chennai-based rival <keyword id="20440239" type="General" weightage="20" keywordseo="India-Cements-Ltd" source="keywords" meta.keywordsubtype="org" meta.entityname="India Cements Ltd" meta.hostid="261" meta.entityid="India Cements Ltd">India Cements Ltd</keyword>, in a deal estimated to be around Rs 1,885 crore. <keyword id="45179" type="General" weightage="20" keywordseo="ntpc" source="Orion">NTPC</keyword>, JSW Steel, <keyword id="42747" type="General" weightage="20" keywordseo="tata-motors" source="Orion">Tata Motors</keyword>, Infosys, <keyword id="6357585" type="General" weightage="20" keywordseo="tata-consultancy-services" source="Orion">Tata Consultancy Services</keyword>, Kotak Mahindra Bank and Bharti Airtel were also among the major gainers. <keyword id="45475" type="General" weightage="20" keywordseo="larsen-toubro" source="Orion">Larsen &amp; Toubro</keyword>, Sun Pharma, Nestle, <keyword id="6357149" type="General" weightage="20" keywordseo="hdfc-bank" source="Orion">HDFC Bank</keyword>, Maruti and State Bank of India were among the laggards. "The Sensex surpassing 79,000 marks a historic milestone, reflecting healthy investor confidence and strong fundamentals in key sectors like banking and telecom. Benchmark indices rallied on Thursday, reversing earlier declines, driven by strong buying in blue-chip companies, propelling the Sensex past this historic barrier and leading the Nifty to a new all-time high". "Remarkably, it took only 23 sessions to rise from 23,000 to 24,000, compared to 88 sessions previously," continued Trivesh D, COO at Tradejini, a discount brokerage firm. "The benchmark indices exhibited bullish momentum, buoyed by an expected revival in the IT sector and consolidation in the cement industry," Vinod Nair, Head of Research at Geojit Financial Services, said.

Market cap of BSE-listed firms hit all-time high of Rs 438.41 lakh crore

Shares of Larsen &amp; Toubro on Thursday tumbled over 5 per cent after the company said its non-executive chairman A M Naik has decided to step down from the post and will become the chairman emeritus. The stock fell 5.42 per cent to Rs 2,238.45 on the BSE. At the NSE, it tumbled 5.37 per cent to Rs 2,237.35. The company's market valuation declined by Rs 16,099.79 crore to Rs 3,16,549.73 crore in morning trade. Larsen &amp; Toubro (<keyword id="6354919" type="General" weightage="20" keywordseo="LT" source="Orion">L&amp;T</keyword>) was the biggest laggard among the 30-share BSE Sensex firms. S N Subrahmanyan, who is the chief executive officer &amp; managing director, has been re-designated as the chairman and managing director of the company with effect from October 1, 2023, according to a regulatory filing. Naik has decided to step down as non-executive chairman of the company with effect from September 30, 2023. He has been conferred the status of chairman emeritus by the board, it said. He has been associated with the company for more than 58 years and his stewardship has led to an upsurge in shareholder value creation. Larsen &amp; Toubro on Wednesday reported a 10 per cent rise in its consolidated net profit to Rs 3,987 crore for the quarter ended in March 2023. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/lt-q4-net-profit-rises-10-to-3987-crore-cautiously-optimistic-about-fy24/articleshow/100137513.cms">L&amp;T Q4 net profit rises 10% to ₹3,987 crore, cautiously optimistic about FY24</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/mankind-pharma-debuts-in-top-100-as-per-market-value-after-a-stellar-listing/articleshow/100123765.cms">Mankind Pharma enters top 100 companies by market cap after a stellar listing</a>

L&T shares fall over 5% in morning trade

New Delhi, The market capitalisation of BSE-listed firms climbed to a fresh all-time peak of Rs 319.10 lakh crore on Thursday, driven by an optimistic trend in equities, where <keyword id="6484188" type="General" weightage="20" keywordseo="sensex" source="Orion">Sensex</keyword> recorded its fifth straight day rally. The BSE benchmark recovered all the early lost ground and finally ended with a gain of 385.04 points or 0.58 per cent at 66,265.56. In the past five sessions, the benchmark has jumped 1,434.15 points or 2.21 per cent. The buoyancy in equities helped the market capitalisation of BSE-listed firms reach a new record high of Rs 3,19,10,019.04 crore. Investors wealth also climbed Rs 9.50 lakh crore in five days. "After a volatile start, markets rebounded sharply to maintain their upward bias for the fifth consecutive session, even as foreign inflows continued to be patchy amid falling rupee and global economic uncertainty. Today's rally came despite weakness across the Asian and US markets, as investors remain upbeat about India's long-term growth prospects," said Shrikant Chouhan, Head of Research (Retail), Kotak Securities Ltd. From the Sensex pack, Larsen &amp; Toubro jumped 4.26 per cent to emerge as the biggest gainer, followed by IndusInd Bank, Tech Mahindra, State Bank of India, HCL Technologies, Power Grid, NTPC, Axis Bank, Kotak Mahindra Bank, HDFC Bank and Wipro. Mahindra &amp; Mahindra, Infosys, UltraTech Cement and Hindustan Unilever were the major laggards. In the broader market, the BSE <keyword id="46258" type="General" weightage="20" keywordseo="Midcap" source="Orion">midcap</keyword> gauge climbed 0.79 per cent and smallcap index jumped 0.40 per cent. Among the indices, capital goods rallied 2.29 per cent, industrials climbed 1.55 per cent, realty jumped 1.44 per cent, bankex gained 1.12 per cent, utilities (1.04 per cent), financial services (0.97 per cent) and energy (0.96 per cent). FMCG emerged as the only laggard. "The domestic market initially opened with a lacklustre performance, influenced by weak global cues. However, as the day progressed, a decline in US bond yields and crude oil prices injected some positivity into the market. "This optimism was most prominent in banking stocks. Interestingly, mid-and small-cap stocks managed to retain investor interest even though their valuations are relatively high," said Vinod Nair, Head of Research at Geojit Financial Services.

Mcap of BSE-listed firms climb to fresh all-time high of Rs 319.10 lakh crore

India Business Wire India Q4 <keyword id="45663" type="ORGANIZATION" weightage="20" keywordseo="Revenue">Revenue</keyword> of 197.5mn, up 4% QoQ Q4 Net profit of ₹195 crore, up 5% QoQ <keyword id="1380245" type="COMPANY" weightage="20" keywordseo="LT-Technology-Services">L&amp;T Technology Services</keyword> Limited (BSE: 540115, NSE: LTTS), India's leading pure-play engineering services company, announced its results for the fourth quarter and full year ended March 31, 2021. Highlights for Q4FY21 include: Revenue at ₹14,405 million; growth of 2.8% QoQ <keyword id="54123" type="COMPANY" weightage="20" keywordseo="USD">USD</keyword> Revenue at 197.5 million; growth of 3.9% QoQ EBIT margin at 16.6%; up 140 bps QoQ Net profit at ₹1,945 million; growth of 4.5% QoQ Highlights for FY21 include: Revenue at ₹54,497 million; decline of 3% USD Revenue at 737 million; decline of 6.3% EBIT margin at 14.5% Net profit at ₹6,633 million; decline of 19% Board has recommended a final dividend of ₹14.50 per share During the quarter, LTTS won 6 deals with TCV of USD10 million plus, which includes 2 USD25 million plus deals. Revenues from digital and leading-edge technologies stood at 52% during the quarter. We are exiting FY21 on an optimistic note post three consecutive quarters of strong deal wins and sequential revenue and operating margin improvement. The annual free cash flow generation at ₹1,252 crores was at a record high. I am happy to note that in Q4, our revenue is back on the positive year-over-year growth path. We are seeing healthy deal win closures and pipeline build up as customers look for innovation and digital led transformation to strengthen their market positioning. Across all our five segments, we are investing in disruptive technologies and design labs to further the growth. As we continue to execute in an environment made difficult by Covid uncertainties, I would like to thank our employees for their commitment, customer focus and resilience that has helped us deepen strategic relationships, said Amit Chadha, CEO &amp; Managing Director, L&amp;T Technology Services Limited. Industry Recognitions: LTTS has been recognized as a Leader' for Development and Verification &amp; Validation services in Industry 4.0 by Everest Group ISG Group rated LTTS as Leader' in Smart Manufacturing Services for Automotive and Hi-Tech LTTS won the 2021 Big Innovation Awards, USA for Chest rAI and i-BEMS . For its Solar Electrification tribal village project, LTTS was conferred with the Mahatma Award for CSR Excellence. Patents At the end of the fourth quarter, the patents portfolio of L&amp;T Technology Services stood at 650, out of which 485 are co-authored with its customers and the remaining 165 have been filed by LTTS. Human Resources At the end of Q4FY21, LTTS' employee strength stood at 16,452. About L&amp;T Technology <keyword id="266374" type="DOMAIN" weightage="20" keywordseo="Services-Ltd">Services Ltd</keyword> L&amp;T Technology Services Limited (LTTS) is a listed subsidiary of <keyword id="689816" type="COMPANY" weightage="20" keywordseo="Larsen-Toubro-Limited">Larsen &amp; Toubro Limited</keyword> focused on Engineering and R&amp;D (ER&amp;D) services. We offer consultancy, design, development and testing services across the product and process development life cycle. Our customer base includes 69 Fortune 500 companies and 53 of the world's top ER&amp;D companies, across industrial products, medical devices, transportation, telecom &amp; hi-tech, and the process industries. Headquartered in India, we have over 16,400 employees spread across 17 global design centers, 28 global sales offices and 69 innovation labs as of March 31, 2021. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/the-designer-for-bentley-aston-martin-and-jaguar-will-now-work-on-ola-electric-new-models/articleshow/82383151.cms">The designer for Bentley, Aston Martin and Jaguar will now work on Ola Electric's new models</a> <a href="https://www.businessinsider.in/tech/apps/news/pubg-mobile-india-download-release-date-everything-we-know-so-far/articleshow/82383038.cms">PUBG Mobile India to relaunch as Battlegrounds Mobile India – here’s what we know so far</a> <a href="https://www.businessinsider.in/tech/apps/news/coders-are-coming-up-with-new-ways-to-check-for-covid-19-vaccination-slots-on-cowin/articleshow/82383284.cms">Indian coders are working around the CoWIN app to help people bag the elusive vaccine slots</a> <a href="https://www.businessinsider.in/tech/news/apple-analyst-predicts-an-8-inch-foldable-iphone-to-launch-in-2023/articleshow/82383566.cms">Apple analyst predicts an 8-inch foldable iPhone to launch in 2023</a>

L&T Tech announces dividend of ₹14.50  even as revenue for the year dips by 3%

<ul><li>The 30-share BSE index was trading 0.48% higher, while the Nifty50 was up 62 points at 9:50 am.</li><li>These were the top losers and gainers in the Nifty pack. </li><li>These are the top stocks that are buzzing in trade today.</li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian stock market index Sensex jumped nearly 200 points in early trade on Friday tracking gains in index majors TCS, Reliance Industries and Sun Pharma amid positive cues from Asian peers. The 30-share BSE index was trading 0.48% higher, while the Nifty50 was up 62 points at 9:50 am. These were the top losers and gainers in the Nifty pack: <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Nifty Gainers </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Nifty Losers </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Dr Reddy </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HUL </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Cipla </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bajaj Fin Services </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Sun Pharma </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HDFC Life </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Adani Ports </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Kotak Bank </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Eicher Motors </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bajaj Auto </td></tr></tbody></table>*as of September 18, 10:30 am These are the top stocks that are buzzing in trade today. RITES gain 2% ahead of the board meeting The shares of infrastructure company RITES Ltd were trading 2% higher during the early trading hours on September 18. The board of the company is slated to meet today to consider the buyback proposal of the fully paid-up equity shares of the company. Sterling and Wilson Solar opened 5% higher The shares of Sterling and Wilson Solar opened 5% higher after the company secured a 106.71 MW solar project in Chile worth $62.6 million (about ₹462 crore). “The order has been received from a global independent power producer (IPP), work for which is expected to begin in Q4 FY 2021," the company said in a statement. TCS trading 1% higher The shares of Tata Consultancy Services gained 1% after the firm announced that it has partnered with Phoenix Group, the UK's largest long-term savings and retirement business. The company plans to launch an enhanced client analytics tool for workplace pension clients of its subsidiary Standard Life Assurance Limited. Vodafone Idea gains 4% The shares of telecom giant Vodafone Idea were trading 4% higher after <a href="https://www.cnbctv18.com/telecom/vodafone-idea-drops-faster-speed-claim-in-priority-offering-informs-trai-about-revised-plan-6939661.htm">media reports</a> surfaced that it dropped the faster data speed claims as part of priority offering and is in the process of filing a revised plan. Hindalco jumps 2% The share price of Hindalco gained over 2% after the company signed an MoU with Hindustan Copper for the long-term purchase and sale of copper concentrate produced by Hindustan Copper. Under this MoU, around 60% copper content of Hindustan Copper's current concentrate production will be utilised by Hindalco in the manufacture of refined copper. Defence stocks gain ground The shares of Bharat Forge, Larsen &amp; Toubro, and Hindustan Aeronautics Limited gained nearly about a percent after<a href="https://www.businessinsider.in/defense/news/foreign-investors-can-now-pump-in-up-to-74-fdi-under-automatic-route-indias-defence-sector/articleshow/78179850.cms"> India permitted foreign direct investment</a> (FDI) of up to 74% under automatic route in the defence sector. SEE ALSO:<a href="https://www.businessinsider.in/retail/news/ikeas-push-to-reach-100-million-customers-in-india-will-see-the-swedish-retail-giant-bet-on-online-and-smaller-stores/articleshow/78179851.cms" data-type="tilCustomLink"> IKEA’s push to reach 100 million customers in India will see the Swedish retail giant bet on online and smaller stores</a> <a href="https://www.businessinsider.in/science/news/forget-vitamins-fauci-says-the-3-best-things-to-keep-your-immune-system-working-optimally-cost-nothing/articleshow/78178136.cms" data-type="tilCustomLink">Forget vitamins: Fauci says the 3 best things 'to keep your immune system working optimally' cost nothing</a>

Top stock movers — TCS, Vodafone Idea, Adani Ports, Larsen & Toubro, Sterling and Wilson Solar and more

Equity benchmark indices <keyword id="6484188" type="General" weightage="20" keywordseo="sensex" source="Orion">Sensex</keyword> and Nifty extended their rally for the third straight session on Wednesday amid buying in index major <keyword id="46717" type="General" weightage="20" keywordseo="indusind-bank" source="Orion">IndusInd Bank</keyword>, Nestle India and HCL Tech. However, continuous foreign fund outflows and a weak trend in global equities restricted gains in the market, traders said. The 30-share BSE Sensex climbed 169.87 points or 0.28 per cent to settle at 60,300.58. During the day, it jumped 232.08 points or 0.38 per cent to 60,362.79. The broader NSE Nifty advanced 44.35 points or 0.25 per cent to end at 17,813.60. Among the Sensex firms, PowerGrid, IndusInd Bank, Larsen &amp; Toubro, Nestle, HCL Tech, Axis Bank, Tata Motors, HDFC Bank, Tata Consultancy Services and HDFC were the major winners. Bajaj Finserv, NTPC, Reliance Industries and Kotak Mahindra Bank were the biggest laggards. Top moving stocks under Nifty500 <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top gainers </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">% change </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top losers </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">% change </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Gujarat State Fertilizer &amp; Chemicals </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">19.99% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Multi Commodity Exchange of India </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-6.26% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Gujarat Alkalies &amp; Chemicals </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">15.85% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Aavas Financiers </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-5.37% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Gujarat Narmada Valley Fertilizers &amp; Chemicals </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">10.92% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Ipca Laboratories </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-5.36% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Triveni Turbine </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">8.92% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Brightcom Group </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-5.05% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">MMTC </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">8.17% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Vedant Fashions </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-4.22% </td></tr></tbody></table>Source: NSE In Asian markets, Hong Kong ended in the green, while Tokyo and Shanghai settled lower. Equity markets in Europe were trading in negative territory. The US markets had ended sharply lower on Tuesday. Meanwhile, global oil benchmark Brent crude climbed 0.17 per cent to USD 80.91 per barrel. Foreign Portfolio Investors (FPIs) offloaded equities worth Rs 407.35 crore on Tuesday, according to exchange data. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/this-railway-stock-is-buzzing-for-record-returns-on-strong-orders/articleshow/99786491.cms">This railway stock has turned a multibagger as its order book expands</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/bajaj-auto-rides-on-richer-product-mix-in-q4-but-export-and-disruption-concerns-persist/articleshow/99784940.cms">Bajaj Auto rides on richer product mix in Q4, but export and disruption concerns persist</a>

Sensex, Nifty50 rise for third straight session; Power Grid, IndusInd Bank, Nestle top gainers

Mindtree, a <keyword id="147676" type="General" weightage="80" keywordseo="larsen" source="Orion">Larsen</keyword> &amp; Toubro Group company, is planning to set up a development centre in <keyword id="6354925" type="General" weightage="50" keywordseo="kolkata" source="Orion">Kolkata</keyword>, which could create employment opportunities for 15,000-20,000 people in the next four-five years, a company official said here on Wednesday. The IT services firm has already onboarded 1,700 people in its existing facility in the West Bengal capital so far, he said. "We have taken up 19 acres of space. Hopefully, things will start. The construction will be done by L&amp;T... the management is committed. We will set up a huge centre," Mindtree Ltd Chief Executive Officer and Managing Director <keyword id="214484" type="General" weightage="80" keywordseo="debashis-chatterjee" source="Orion">Debashis Chatterjee</keyword> said at ICT East organised by CII. The development centre can create employment opportunities for 15,000-20,000 people, he said. The IT company had in March announced the opening of its first development centre in Kolkata. Another IT company of the L&amp;T group, Larsen and Toubro Infotech (LTI) had in June also announced opening up of a new centre in the eastern metropolis. Larsen and Toubro board had in May announced a composite scheme of amalgamation of its two listed IT services firms to create a combined entity. During the event, State Information Technology minister <keyword id="6721" type="General" weightage="80" keywordseo="babul-supriyo" source="Orion">Babul Supriyo</keyword> urged the industry leaders to guide his department about "what needs to be done" to grow the information and technology sector in West Bengal. Another multinational technology firm Oracle is also weighing opportunities in the state for a data centre project that could help small and medium businesses. We are working very closely with the government towards creating a dedicated data centre for West Bengal, said <keyword id="105775" type="General" weightage="80" keywordseo="shailendra-kumar" source="Orion">Shailendra Kumar</keyword>, senior vice president, regional managing director India and NetSuite JAPAC, Oracle NetSuite Global Business Unit. The plans could take shape over the next 2-3 months, he added. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/sensex-nifty-in-the-green-as-crude-prices-soften/articleshow/94066162.cms">Sensex, Nifty in the green as crude prices soften</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/indigo-shares-fall-over-4-as-co-founder-rakesh-gangwal-offloads-2000-cr-worth-stake/articleshow/94065345.cms">IndiGo shares fall over 4% as co-founder Rakesh Gangwal offloads ₹2,000 cr worth stake</a>

Mindtree planning to set up development centre in Kolkata: CEO

<keyword id="6355376" type="General" weightage="80" keywordseo="benchmark" source="Orion">Benchmark</keyword> indices ended higher for the straight second day, with <keyword id="6484188" type="General" weightage="80" keywordseo="sensex" source="Orion">Sensex</keyword> rising marginally up with 59 points and <keyword id="6354813" type="General" weightage="80" keywordseo="nifty" source="Orion">Nifty</keyword> up 36 points. At close, Sensex ended up 59.15 points or 0.10 per cent at 58,833.87, and Nifty ended 36.45 points or 0.21 per cent up at 17,558.90. About 1,991 shares have advanced, 1,428 shares have declined and 146 shares remained unchanged. NTPC, Titan, Power Grid Corporation of India, Kotak Mahindra Bank, <keyword id="147676" type="General" weightage="80" keywordseo="larsen" source="Orion">Larsen</keyword> and Toubro, Tech Mahindra were among the major gainers on the <keyword id="35140" type="General" weightage="80" keywordseo="bse" source="Orion">BSE</keyword>. BSE LargeCap ended 0.26 per cent, BSE MidCap and BSE SmallCap ended up 0.40 per cent and 0.35 per cent, respectively. "Markets managed to end marginally higher in a volatile trading session, in continuation of the prevailing consolidation phase. After the initial up-tick, the benchmark inched gradually lower as the session progressed. Meanwhile, a mixed trend on the sectoral front kept the participants busy wherein metal and energy posted decent gains," said Ajit Mishra, VP - Research, Religare Broking Ltd. Asian markets rose on Friday after a Wall Street rally ahead of a speech by <keyword id="6355253" type="General" weightage="80" keywordseo="federal-reserve" source="Orion">Federal Reserve</keyword> boss <keyword id="1727754" type="General" weightage="80" keywordseo="jerome-powell" source="Orion">Jerome Powell</keyword> that is expected to reiterate his plan to ramp up interest rates to fight inflation. World stocks were narrowly mixed on Friday as traders and investors awaited a speech from Federal Reserve Chair Jerome Powell for clues on the gradient of the US central bank's rate-hike path. Markets will react to the US Fed chair's address at the Jackson Hole symposium in early trade on Monday. "Indications are mixed at present and a decisive break from the 17,300-17,800 range in Nifty would trigger the next directional move. Participants should continue their focus on risk management and maintain extra caution in stock selection," Mishra added. SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/heres-everything-you-need-to-know-about-uks-new-scale-up-visa/articleshow/93799259.cms">Here’s everything you need to know about UK’s new Scale-up visa</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/indian-origin-twitter-executive-sandeep-pandey-to-join-meta/articleshow/93796145.cms">Indian origin Twitter executive Sandeep Pandey to join Meta</a>

Indices end marginally higher after a volatile trading session

<ul><li>While analysts remain positive about 2023, multiple factors including geopolitical tensions, rising Covid-19 cases in China, monetary policy actions could have an impact on markets.</li><li>Business Insider India has examined analyses of multiple brokerages to figure out stocks that are expected to shine in 2023.</li><li>Here are some of the stocks recommended by brokerages including ICICI Direct, HDFC Securities, Sharekhan, Motilal Oswal and Religare Broking to invest in next year. </li></ul>The year 2022 has been an eventful one, with multiple headwinds in the form of rising geopolitical tensions, continued supply chain constraints, boiling crude oil prices and elevated inflation that triggered interest rates hikes by central banks around the world, causing a turmoil in equity markets globally. As we step into 2023, equity markets could be <a href="https://www.businessinsider.in/stock-market/news/psus-stage-a-comeback-in-2022-and-the-future-looks-healthy-say-analysts/articleshow/96522444.cms">driven</a> by key sectors like banking, finance and insurance services (BFSI), IT and metals, say analysts. In 2022, the Indian equity market emerged as an outlier in a world where most markets delivered negative returns. Benchmark indices Sensex and the Nifty50 rose nearly 3% this year as domestic institutional investors stepped in to fill the gap left by foreign institutional investors (FIIs) during the year. In comparison, Asian and US markets registered a steep 10-30% fall in the year. “The relatively stable equity market in India was a result of a smart economic recovery from the pandemic shock and the growing dominance of retail investors,” said a report by Quantum Mutual Fund. In 2023, however, geopolitical tensions, rising Covid-19 cases, monetary policy actions, change in commodity prices including crude oil and India’s union budget are among factors that will impact the markets. Amid all these uncertainties, the key question is which stocks would be suitable to invest in this scenario? Business Insider India has examined analyses of multiple brokerages – including ICICI Direct, HDFC Securities, Sharekhan, Motilal Oswal and Religare Broking – to give you a list of stocks that are expected to shine in 2023. Here are the stocks recommended by brokerages for investment in 2023. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Companies </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Year-to-date change </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Larsen &amp; Toubro </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">10% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">State Bank of India </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">28% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Maruti Suzuki </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">10.5% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Axis Bank </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">34% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Macrotech Developers </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-17% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">PI Industries </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">14% </td></tr></tbody></table>Note: Change as on December 27, 2022 <keyword id="6354919" type="General" weightage="20" keywordseo="LT" source="Orion">L&amp;T</keyword> best placed to take advantage of a capex revival Infrastructure behemoth Larsen &amp; Toubro is amongst the top picks of brokerages as they believe the company is well poised to be the key beneficiary of a <a href="https://www.businessinsider.in/stock-market/news/capital-intensive-cyclical-and-value-stocks-to-continue-their-outperformance/articleshow/95659482.cms">capex upcycle</a> driven by investments in both public and private sectors. “With a pick-up in the capex cycle and diversified segmental exposure, we believe L&amp;T is the best capex play in the large cap capital goods segment. The company is optimistic about meeting its 15% growth guidance for revenue and order inflow in FY23,” said a report by ICICI Direct Research. Debt-free Maruti Suzuki another favourite of brokerages India’s largest carmaker Maruti Suzuki is another favourite of analysts considering it is debt free, pays consistent dividend, and has strong free cash flow and healthy financials. “Maruti is on a strong footing for a recovery in market share and margin with launches gaining traction and semiconductor shortages easing. It can gain further market share, led by an expected shift towards petrol and hybrid vehicles, resulting in ~14% volume CAGR over FY22-25E,” said a report by Motilal Oswal. In the next 2 years, the automaker intends to launch products in the utility vehicle segment, focus on premiumisation and revamp its existing product portfolio. SBI and Axis Bank among top BFSI picks State Bank of India and private lender Axis Bank are also among stocks that might do well next year. Analysts say SBI is one of the few large-cap stocks available at a reasonable valuation with high growth visibility led by strong retail loans and a pick up in the corporate segment. “Bank lending has been growing at double-digit rates as of this fiscal. Revival in consumer demand, rise in private capex followed by rise in government spending can be triggers for the growth. SBI, being a leader in the industry, could be a best play on this theme,” said analysts at HDFC Securities. Similarly, Axis Bank has also been witnessing strong growth in the retail and mid-corporate segment, which, along with micro, small and medium enterprises, would remain the key growth drivers for the bank, according to analysts at Motilal Oswal. PI Industries, Macrotech to shine The chemical manufacturer PI Industries is expected to maintain its growth momentum with better-than-expected sales growth and margin expansion. Macrotech Developers, which markets its properties under the Lodha brand, is expected to continue strong growth next year as well due to a strong pipeline, say analysts at Motilal Oswal. With the brand new year just around the corner, and several factors set to affect the markets, these commentaries from brokerages should make it easier to help build an equity portfolio in 2023. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/december-auto-sales-could-skid-sequentially-on-production-constraints-purchase-deferrals-due-to-inauspicious-period/articleshow/96617021.cms">December auto sales could skid sequentially on production constraints, purchase deferrals due to ‘inauspicious’ period</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/gautam-adani-man-of-the-year/articleshow/96610248.cms">Gautam Adani: Man of the year</a>

Stock picks for 2023: L&T, SBI, Axis Bank among top brokerage picks for the new year

Benchmark equity indices <keyword id="6484188" type="General" weightage="20" keywordseo="sensex" source="Orion">Sensex</keyword> and Nifty rallied for a second straight session on Monday following buying in index heavyweight IT counters and Reliance Industries amid optimism in Asian markets. The 30-share BSE Sensex climbed 234 points or 0.38 per cent to settle at 61,963.68. During the day, it jumped 314.78 points or 0.50 per cent to 62,044.46. The NSE Nifty rallied 111 points or 0.61 per cent to end at 18,314.40. Among the Sensex firms, Tech Mahindra, Wipro, Infosys, Tata Consultancy Services, HCL Technologies, Larsen &amp; Toubro, ITC, Sun Pharma, NTPC and Titan were the major gainers. Nestle, Axis Bank, Tata Motors, ICICI Bank, HDFC Bank and Bharti Airtel were the laggards. All the ten listed Adani group stocks ended with significant gains as a Supreme Court-appointed expert committee said it has found no evidence of stock price manipulation in group companies, while a separate Sebi probe into alleged violation in money flows from offshore entities has "drawn a blank". Adani Enterprises zoomed 18.84 per cent and Adani Wilmar jumped 10 per cent, the biggest gainers among the ten listed group firms. In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong ended in the positive territory. Markets in Europe were trading on a mixed note. The US market had ended marginally lower on Friday. "The domestic market inched higher in anticipation of possible progress in US debt ceiling negotiations. Despite a weak fourth-quarter performance, IT stocks rebounded on account of bargain opportunities and pent-up demand. Investors remain watchful ahead of the release of US FOMC minutes on Wednesday, as the minutes may give some indication of a pause on rate hikes," said Vinod Nair, Head of Research at Geojit Financial Services. Meanwhile, global oil benchmark Brent crude climbed 0.03 per cent to USD 75.60 per barrel. The Sensex climbed 297.94 points or 0.48 per cent to settle at 61,729.68 on Friday. The Nifty advanced 73.45 points or 0.41 per cent to end at 18,203.40. Foreign institutional investors (FIIs) offloaded equities worth Rs 113.46 crore on Friday after remaining buyers for a number of days, according to exchange data. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/no-need-to-rush-to-banks-as-theres-4-months-time-says-rbi-governor-on-pulling-2000-notes-off-circulation/articleshow/100412638.cms">No need to rush to banks as there’s 4 months time says RBI governor on pulling ₹2,000 notes off circulation</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/banks/news/sbi-vs-bank-of-baroda-vs-canara-bank-performance-comparison-based-on-q4-2022-23-earning-reports/articleshow/100357639.cms">SBI vs Bank of Baroda vs Canara Bank: How India’s top PSU banks performed in Q4</a>

Sensex jumped 234 points, Nifty rallied 111 points with buying in IT counters, RIL

Benchmark indices <keyword id="6484188" type="General" weightage="20" keywordseo="sensex" source="Orion">Sensex</keyword> and Nifty pared early gains to close marginally lower in highly volatile trade on Thursday due to losses in Larsen &amp; Toubro and cautious trading ahead of the release of domestic inflation data. The 30-share BSE Sensex declined 35.68 points or 0.06 per cent to settle at 61,904.52 after hitting the crucial 62,000 mark in opening deals. During the day, it hit a low of 61,823.07 and a high of 62,168.22. The NSE Nifty dipped 18.10 points or 0.10 per cent to end at 18,297. Among the Sensex firms, Larsen &amp; Toubro tumbled over 5 per cent after the firm said its Non-Executive Chairman A M Naik has decided to step down from the post. ITC, Bharti Airtel, Reliance Industries, Infosys, Tata Steel, Tech Mahindra and Tata Consultancy Services were the other laggards. However, Asian Paints rose the most by 3.22 per cent after it posted a 43.97 per cent growth in consolidated net profit to Rs 1,258.41 crore for the fourth quarter. Hindustan Unilever, NTPC, IndusInd Bank, UltraTech Cement and Maruti were the gainers. Vinod Nair, Head of Research at Geojit Financial Services said, "The gains in the domestic market were tempered by weak earnings reported by a few heavyweight companies. On the global front, markets remained positive as US inflation eased below 5 per cent, providing reassurance to investors that the Fed's rate hike measures have been effective in managing inflation levels" In Asia, Seoul, Shanghai and Hong Kong markets ended lower while Tokyo settled in the green. Markets in Europe were trading in the green. The US market ended mostly in negative territory on Wednesday. Foreign Institutional Investors (FIIs) were net buyers on Wednesday as they bought equities worth Rs 1,833.13 crore, according to exchange data. Meanwhile, global oil benchmark Brent crude jumped 0.93 per cent to USD 77.12 per barrel. The BSE benchmark had climbed 178.87 points or 0.29 per cent to settle at 61,940.20 points on Wednesday. The Nifty gained 49.15 points or 0.27 per cent to end at 18,315.10 points. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/sajjan-jindal-led-jsw-infra-would-be-the-third-group-company-to-go-public/slidelist/100156198.cms">JSW Infrastructure to come out with ₹2,800 crore IPO; third group company to go public</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/income-tax-department-raids-freshly-listed-mankind-pharmas-premises-over-alleged-tax-evasion/articleshow/100155544.cms">Income Tax department raids freshly listed Mankind Pharma’s premises over alleged tax evasion</a>

Stock markets in choppy waters, L&T drags Sensex to close lower

Benchmark indices rallied for the eighth day running on Thursday, ending at fresh record closing highs, amid firm global market trends and continuous foreign fund inflows. Buying in IT counters also added to the momentum. The 30-share BSE <keyword id="6484188" type="General" weightage="20" keywordseo="sensex" source="Orion">Sensex</keyword> climbed 184.54 points or 0.29 per cent to settle at 63,284.19, its fresh record closing high. During the day, it rallied 483.42 points or 0.76 per cent to 63,583.07, its lifetime intra-day peak. The broader NSE Nifty advanced 54.15 points or 0.29 per cent to end at 18,812.50, its new record closing high. Among the Sensex pack, UltraTech Cement, Tata Steel, Tata Consultancy Services, Tech Mahindra, Wipro, Infosys, HCL Technologies, and Larsen &amp; Toubro were the major winners. ICICI Bank, Mahindra &amp; Mahindra, Power Grid and Kotak Mahindra Bank were among the laggards. Elsewhere in Asia, markets in Seoul, Tokyo, Shanghai and Hong Kong ended higher. Equity exchanges in Europe were trading mostly in the green in the afternoon trade. Wall Street had ended significantly higher on Wednesday. "Fed chief Jerome Powell's observation that 'it makes sense to moderate the pace of rate hikes' has come as a shot in the arm for the bulls to take the ongoing rally forward," said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services. International oil benchmark Brent crude was trading 0.40 per cent higher at USD 87.32 per barrel. Foreign Institutional Investors (FIIs) bought shares worth Rs 9,010.41 crore on Wednesday, as per exchange data. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/government-listed-private-companies-capex-to-touch-21-lakh-crore-in-fy23-icici-securities/articleshow/95858117.cms">Capex cycle to touch ₹21 lakh crore in FY23, but there's a catch</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/reliance-industries-emerges-as-top-company-in-terms-of-value-revenue-and-profits-in-hurun-2022-list/articleshow/95910143.cms">Adani may be the richest Indian but Ambani’s RIL retains the top spot on Hurun's list of most valuable companies</a>

Markets on record-making spree; rally for the eight straight day

Before <a href="http://www.businessinsider.in/searchresult.cms?query=US+President+Donald+Trump&amp;sortorder=effectivedate">US President Donald Trump</a>’s first call, <a href="http://www.businessinsider.in/searchresult.cms?query=Boeing+Co.&amp;sortorder=effectivedate">Boeing Co.</a> and <a href="http://www.businessinsider.in/searchresult.cms?query=Lockheed+Martin+Corp.&amp;sortorder=effectivedate">Lockheed Martin Corp.</a> promised to build plants in India if the world's biggest arms importer chose their fighter jets and weapons. 
 This week, in <keyword id="6354321" type="CITY" weightage="20" keywordseo="Bengaluru">Bengaluru</keyword>, will be a test for that promise as two most biggest US defense contractors, Russia's MiG Corp. and Europe's <keyword id="6356166" type="COMPANY" weightage="20" keywordseo="Airbus">Airbus</keyword> SE will be lining up to display their wares at an air show. 
 
Not only they will compete for deals, they will be constantly stretched between Trump's push for companies to keep jobs in the US. 
 
"All of us in Washington are guessing where Trump is going to land on these issues. He has certainly been very clear in his tweets and direct outreach to American companies that he wants to try to ensure that people don't move production facilities and try to retain jobs in the U.S., "said Alyssa Ayres, a senior fellow for India, Pakistan and South Asia at the Council on Foreign Relations in Washington. 
 
<a href="http://www.businessinsider.in/searchresult.cms?query=Manohar+Parrikar&amp;sortorder=effectivedate">Manohar Parrikar</a>, Indian Defence Minister will be using the airshow to outline <a href="http://www.businessinsider.in/searchresult.cms?query=Prime+Minister+Narendra+Modi&amp;sortorder=effectivedate">Prime Minister Narendra </a><a href="http://www.businessinsider.in/searchresult.cms?query=Prime+Minister+Narendra+Modi&amp;sortorder=effectivedate">Modi</a>’s plans to boost the domestic defense industry by giving contracts to local companies, as well as asking foreign manufacturers to tie up with Indian firms, according to people familiar with the plan who are not authorized to speak publicly about it. 
 Modi's promise to shell out $250 billion in the coming years on fighter jets, submarines, howitzers and helmets to modernize his armed forces came with one call -- Make in India. Sensing an opportunity, local conglomerates <keyword id="6355725" type="CITY" weightage="20" keywordseo="Tata-Group">Tata Group</keyword>, Mahindra &amp; Mahindra Ltd. and <keyword id="70574" type="COMPANY" weightage="20" keywordseo="Larsen-Toubro-Ltd">Larsen &amp; Toubro Ltd</keyword>. have expanded more into the defense sector and formed joint ventures with international manufacturers. 
 
India, which has traditionally relied on Russia and the former SoviUnion for fighter jets, is increasingly warming to the US. In his first phone conversation with Parrikar, Defense Secretary Jim Mattis committed to build upon the "tremendous progress in bilateral defense cooperation made in recent years," a Pentagon spokesman said last week. 
 
Modi's domestic manufacturing program is a centerpiece of his economic policy that seeks to boost manufacturing to 25 percent of gross domestic product by 2022 from 18 percent now, and aims to avoid dependence on foreign equipment, particularly in times of war.

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