After opening the day higher, Indian share markets gained momentum as the session progressed and ended the day higher.Indian benchmark indices Sensex and Nifty hit fresh all-time highs on Thursday ahead of the monthly F&O expiry amid firm cues from the global markets.Nifty50 topped the 21,700 mark for the first time while Sensex was around the 72,300 mark. Barring media & realty, buying action was visible in most sectoral indices.At the closing bell, the BSE Sensex stood up by 372 points (up 0.5%).Meanwhile, the NSE Nifty closed higher by 123 points (up 0.6%).Coal India, Hero MotoCorp, and NTPC were among the top gainers today.Adani Enterprises, Adani Ports, and Eicher Motors on the other hand, were among the top losers today.The GIFT Nifty was trading at 21,96, up by 296 points, at the time of writing.Broader markets ended on a positive note. The BSE MidCap index ended 0.6% higher and the BSE SmallCap index ended higher by 0.2%.Sectoral indices ended mixed with stocks in the FMCG sector, metal sector, and oil & gas sector witnessing most of the buying. Meanwhile stocks in the auto sector, IT sector, and industrial sector witness selling.Shares of MRF, Nestle, and Bajaj Auto hit their respective 52-week highs today.Now track the biggest movers of the stock market using the stocks to watch today section. This should help you keep updated with the latest developments…Asian share markets ended mixed. The Shanghai Composite ended 1.4% higher, while the Nikkei index ended 0.4% lower. Meanwhile, Hang Seng ended 2.5% lower.The rupee is trading at 83.17 against the US$.Gold prices for the latest contract on MCX are trading 0.2% lower at Rs 63,520 per 10 grams.Meanwhile, silver prices are trading 0.2% lower at Rs 75,463 per 1 kg.
Why HUDCO Share Price is RisingIn news from the finance sector, shares of Housing & Urban Development Corporation (Hudco) surged 18% to hit a fresh record high on 28 December on signing a Memorandum of Understanding (MoU) with the State Government of Gujarat.The MoU for an investment of up to Rs 145 bn for financing the housing and urban infrastructure projects in the western state.HUDCO expressed its interest in executing this MoU under the financial services sector in the form of financial assistance, as per its objectives and guidelines to the State Government of Gujarat for eligible sector projects through term loans for Infrastructure projects.The State Government of Gujarat intends for the overall development of the state by implementing various housing and infrastructure projects.Being a techno-financial institution, HUDCO is in the business of providing financial assistance for housing and urban development projects in the country.The PSU caters to the various requirements of all sectors.So far in 2023, stocks are up over 110%.
Man Industries Shares Rally 7%. Here’s why.
Moving on to news from the aluminum sector, the share price of Man Industries (India) zoomed 7% intraday on 28 December after the company announced successful testing of its pipes for safe hydrogen transport.The testing has been conducted by a leading European research center for hydrogen transport, ensuring structural integrity and safety for the fuel.This certification safeguards against challenges related to hydrogen’s small molecule size permeating materials more easily than other gases.This accomplishment marks a critical milestone in addressing a major hurdle in the shift to a hydrogen-based ecosystem i.e. efficiently delivering hydrogen gas to the point of use.The company, which was founded in 1988, is a manufacturer of large-diameter carbon steel pipes used in industries such as oil and gas, petrochemicals, water, dredging, and fertilizers.Aluminum is an essential metal used in various industries.
Azad Engineering Lists at 37% PremiumMoving on, Azad Engineering made a strong stock market debut on Thursday, with its shares listed at Rs 720, a 37% premium over its issue price of Rs 524 per share on the National Stock Exchange (NSE).On the BSE, the stock of heavy electric equipment company opened at Rs 710.The initial public offering (IPO) of Azad Engineering received a robust response with the issue being subscribed 80.6 times. The institutional investor portion was subscribed 179.6 times, the high net worth individual portion was booked 87.6 times, the retail investor portion was bought 23.8 times, and the portion reserved for employees stood at 14.7 times.Azad Engineering manufactures products for original equipment manufacturers (OEMs) in the energy, aerospace, defense, and oil and gas industries.Azad Engineering is strengthening its core capabilities across the focus industries and leveraging industry-leading capabilities by continuing to diversify the customer base and increase penetration and wallet share with existing customers by entering into new component lines.More By This Author:Sensex Today Hits Record High; Nifty Above 21,700Sensex Today Rallies 702 Points, Nifty Above 21,600Sensex Today Trades Higher; Energy Stocks Shine
