Sensex hits 70,000, Nifty at 21K; Dr Reddy dips 6%

Retail investors now own a bigger slice of smallcap companies than at the start of 2023–24 (FY24), underscoring their growing conviction about investing in this red-hot space. Read

December has been a bumper month for equity markets so far with Nifty index crossing 21,000 on Friday and the Sensex eyeing 70,000 level. Which factors will influence the market’s direction this week?

The Nifty 50 Index continues its bullish trajectory, marking yet another new lifetime high on both short-term and near-term charts. Despite the prevailing bullish trend, the ascent towards 21100 presents a formidable challenge, acting as a stiff resistance barrier. Read

Tata Motors: The automaker said it would increase the price of its commercial vehicles effective January 2024 by up to 3 per cent. The price increase is to offset the residual impact of past input costs and will be applicable across the entire range of commercial vehicles.

Mazagon Dock Shipbuilders: The company received an order worth Rs 1,145 crore from ONGC for laying approximately 44.4 km of subsea pipelines in 19 segments.

The Indian equity market valuation has been moving in tandem with the US 10-year treasury yield. While the benchmark US bond yield has witnessed a nearly 70 basis point decline since the end of October this year, dropping from 4.93 per cent to 4.23 per cent on Friday, the Sensex earnings yield has slipped by nearly 45 basis points. Read