Stock Market Updates: Sensex, Nifty Gain; Realty Stocks Rally Led by Sobha

The Indian stock market after two days of consecutive profit bookings has managed to trade in the green. At 12:15 PM, Sensex jumped 456 points at the 71813 mark while Nifty gained 128 points and was trading at the 21646 mark.

Around 1750 stocks advanced and 713 declined while 90 remained unchanged in the stock market.

Among the sectors, buying was seen in the realty space which surged almost 6 percent. The top gainers were Sobha which zoomed over 12 percent followed by Godrej Properties, Lodha, DLF, Brigade Enterprises, and Oberoi Realty which jumped 5-8 percent each.

The other sectoral gainers included PSU Bank and the FMCG index which added a percent each.

Top Nifty50 Gainers

Top Nifty50 Losers

Stocks in the news

Vedanta: up 1.18%

More than 97 percent of bondholders of Vedanta Resources (VRL) approved the restructuring of $3.2 billion worth of bonds due to mature in the next three years. With this, Vedanta has secured the required approval from at least two-thirds of the bondholders to proceed with the restructuring plan.

Also read: Top 2 Buy Ideas for New Year 2024 Which Can Fetch Up To 15% Return

Meanwhile, the alumina production at Lanjigarh refinery grew by 6 percent YoY and 1 percent QoQ to 4,70,000 metric tonnes in Q3 FY24, while saleable ore production from Karnataka increased 13 percent QoQ driven by improved operational efficiency (but down 3 percent YoY). Pig iron production grew 1 percent YoY and down 7 percent QoQ on account of the capital shutdown of one smaller furnace.

Ujjivan Samll Finance Bank: Up 4.13%

On a year-on-year basis, the bank experienced a substantial 27 percent increase in its loan book, amounting to Rs 27,791 crore. Total deposits showed a strong growth of 29 percent year-on-year, reaching Rs 29,869 crore. The CASA (Current Account Savings Account) saw a notable surge of 24 percent year-on-year, reaching Rs 7,549 crore, with an additional 8 percent increase on a quarter-on-quarter basis.

IndusInd Bank: up 2.96%

In its business update on January 2, the private sector lender, IndusInd Bank, announced a 20 percent growth in third-quarter advances and a 13 percent surge in deposits. The bank observed a 13 percent year-on-year increase in deposits, totaling Rs 3.69 lakh crore, which also reflected a 3 percent rise from the previous quarter. Additionally, advances amounted to Rs 3.27 lakh crore, marking a sequential increase of 4 percent and a substantial year-on-year growth of 20 percent.

Jio Financial Services: up 2.35%

Jio Financial and BlackRock Financial Management have filed papers with the capital market regulator, the Securities and Exchange Board of India (SEBI), to launch mutual fund businesses in India.

The in-principle approval is under consideration with SEBI, as the companies, as joint ventures, filed their applications on October 19 and showed the updated list of mutual fund applications as of December 31.

Bajaj Finance: up 3.68%

The company’s assets under management (AUM) surged by 35 percent year-on-year, reaching Rs 3.11 lakh crore. Bajaj Finance experienced a corresponding 35 percent growth in its deposit book, which amounted to Rs 58,000 crore. Throughout the quarter, the company secured 98.6 lakh new loans, marking a robust year-on-year growth of 26 percent. Notably, new customer acquisition remained strong, with the NBFC acquiring 38 lakh new customers compared to 31 lakh during the year-ago period.

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