Sensex Today Rallies 930 Points | IRFC Zooms 10% | 5 Reasons Why Indian Share Market is Rising

Thu, 14 Dec Closing

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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.

Dovish Federal Reserve commentary powered the Dalal Street today.

At the closing bell, the BSE Sensex stood higher by 930 points (up 1.3%).

Meanwhile, the NSE Nifty closed higher by 256 points (up 1.2%).

Tech Mahindra, Wipro and Infosys were among the top gainers today.

Power Grid, Nestle and Cipla, on the other hand, were among the top losers today.

The GIFT Nifty was trading at 21,365, up by 114 points, at the time of writing.

Border indices ended in green with the BSE MidCap index up by 1.1% while the BSE SmallCap index rose by 0.6%.

All Sectoral indices ended in green with stocks in the IT sector, Realty sector, Telecom sector, Financial sector and Energy sector witnessing most of the buying.

Shares of Titan, L&T and Bajaj Finserv hit their respective 52-week highs today.

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

Asian share markets ended on a mixed note. The Shanghai Composite ended 0.3% lower while the Nikkei ended 0.7% lower. The Hang Seng rose 1.7%.

The rupee is trading at 83.32 against the US$.

Gold prices for the latest contract on MCX are trading in green by 2.24% at Rs 62,567 per 10 grams.

Silver for the latest contract on MCX is also trading in green by 4.77% at Rs 74,941 per 1 kg.

Here are five reasons why Indian markets rose today.

#1 US Fed's Dovish Comment

The US Federal Reserve decided to keep interest rates unchanged at 5.5% in its latest meeting. However, it signalled the possibility of three rate cuts in the coming year.

Fed Chief Jerome Powell mentioned that inflation has moderated without negatively impacting employment, which is a positive sign.

This dovish stance by the Federal Reserve contributed to optimism in the Indian market. Additionally, following the Fed's announcement, the yield on the 10-year US bond fell below 4%, further influencing market sentiment.

#2 US Market Sentiment

The second reason why Indian markets were filled with optimism was because of the US market sentiment.

The Dow Jones Industrial Average surged to a record high close, above 37,000 levels.

Moreover, the broader market indices also experienced gains, with the S&P 500 rising by 1.4%, and the Nasdaq composite also registering a 1.4% increase.

The US market rose because of expectations of potential interest rate cuts, driving positive sentiment on Wall Street.

#3 Dollar Index Weakness

The US dollar index which measures the performance of the US dollar against a basket of currencies showed signs of weakness. DXY declined, dropping by 0.3% to 102.5.

A decrease in the dollar index often attracts investors seeking higher returns in the markets.

#4 FIIs Inflow

Foreign Institutional Investors (FIIs) are pouring in money in the Indian markets at all time highs and this is supporting the optimism in the markets.

On Wednesday, 13 December 2023, FIIs stood net buyers of Rs 47.2 bn. In contrast, Domestic Institutional Investors (DIIs) were net sellers, offloading shares worth Rs 9.6 bn.

#5 Asian Market Sentiment

The Asian market sentiment supported the rally back home. Hang Seng rose 1.7% while Kospi rallied 1.3%. Nikkei showed weakness with a dip of 0.7%.

Speaking of stock markets, check out the video below where we talk about Indian companies supplying EV components to Tesla.

Tesla's entry into Indian markets will provide multifold benefits. It will accelerate the adoption of EVs and boost the growth of Indian auto component manufacturers.

In the below video, we discuss six Indian companies that are already supplying their products to Tesla.

Why HDFC Life and Max Financial Share Price is Falling

In news from the life insurance sector, on Thursday, 14 December 2023, shares of HDFC Life and Max Financial Services came under selling pressure.

HDFC Life fell 2%, while Max Finacials dipped 2.5%.

The reason behind this fall can be attributed to Insurance Regulatory and Development Authority of India's (IRDAI) proposal of a higher surrender value on non-participating insurance products.

The IRDAI released a consultation paper suggesting an increase in the surrender value for non-PAR products, potentially impacting the margins of these products.

The proposed change in surrender value would result in policyholders receiving a higher amount in the event of policy termination before maturity.

It is important to note that the impact of this proposal applies only to policies with a surrender benefit and specifically affects non-participating products.

The IRDAI has been actively working on various reforms to achieve its vision of - insurance for all by 2047.

In October, the regulator issued a circular directing insurance companies on the implementation of customer information sheets (CIS) to enhance communication and transparency between insurers and policyholders. The CIS provides basic policy features in easily understandable language.

Additionally, the IRDAI has set up a high-level panel to suggest measures to increase the involvement of banks in making insurance products easily available across the country.

Why Tanla Platforms Share Price is Rising

Moving on with the news from the IT software sector.

Tanla platforms, the leading communications platform as a service (CPaaS) company zoomed 20% on Wednesday, 13 December 2023 and another 6% in early trade on Thursday, 14 December 2023.

This rally can be attributed to ValueFirst, the company's recent acquisition which is paying off.

The CEO of Tanla Platforms, Mr. Reddy, highlighted the contribution of ValueFirst which aided to its revenue growth.

ValueFirst's contribution amounted to an additional Rs 1 billion at the consolidated level.

Following the acquisition, Tanla's market share in Communication-Platform-as-a-Service (CPaaS) increased to about 35%, with 8% attributed to ValueFirst.

In the SMS market too, Tanla's share rose from 40% to over 45%, with 8% contributed by ValueFirst.

The acquisition facilitated Tanla's international business growth, particularly in Saudi Arabia, the United Arab Emirates, and Indonesia.

This strategic move is proving beneficial, contributing to Tanla's faster growth and potentially influencing the rise in its share price.

In the last five trading sessions, the share price of Tanla platforms have offered 19% in a week and over 50% in 2023 so far.

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

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

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INDICESBSE (Rs 0 to 1)BSE (Rs 1 to 2)BSE (Rs 2 to 4)BSE (Rs 4 to 10)BSE (Rs 10 to 20)BSE (Above Rs 20)BSE - AllBSE-30BSE-100BSE-200BSE-500BSE AutoBSE BankexBSE Capital GoodsBSE Consumer DurablesBSE FMCGBSE HealthcareBSE ITBSE MetalBSE Oil & GasBSE PSUBSE TeckBSE RealtyBSE PowerBSE A GroupBSE B GroupBSE Mid-CapBSE Small-CapBSE Basic MaterialsBSE Consumer DiscretionaryBSE IndustrialsBSE UtilitiesBSE Sensex 50BSE Sensex Next 50BSE Bharat 22BSE 150 MidCapBSE 250 SmallCapBSE 250 LargeMidCapBSE 400 MidSmallCapBSE AllCapBSE LargeCapBSE SmallCap SelectBSE 100 LargeCap TMCBSE InfraBSE ManufacturingBSE CPSEBSE Private BankBSE Diversified FinancialsBSE MomentumBSE Low VolatilityBSE QualityBSE Enhanced ValueBSE Divident StabilityS&P BSE IPOBSE SMEIPOBSE 100 ESGBSE CarbonexBSE GreenexNSE (Rs 0 to 10)NSE (Rs 10 to 20)NSE (Above Rs 20)NSE - AllNSE-50NSE ITNSE Nifty Midcap 50NSE JR. NiftyNSE Bank NiftyNIFTY Next 50NIFTY 100NIFTY 200NIFTY 500NIFTY MidCap 100NIFTY SmallCap 250NIFTY SmallCap 50NIFTY SmallCap 100NIFTY LargeMidCap 250NIFTY MidSmallCap 400NIFTY AutoNIFTY Consumer DurablesNIFTY FinanceNIFTY FMCGNIFTY MediaNIFTY MetalNIFTY PharmaNIFTY Private BankNIFTY PSU BankNIFTY RealtyNIFTY Oil & GasNIFTY SME EmergeNIFTY CommoditiesNIFTY CPSENIFTY EnergyNIFTY India ConsumptionNIFTY InfraNIFTY MNCNIFTY PSENIFTY Serv SectorNIFTY100 Liquid 15NIFTY Midcap Liquid 15NIFTY Midcap 150 Quality 50NIFTY50 Equal WeightNIFTY100 Equal WeightNIFTY100 Low Volatility 30NIFTY100 Alpha 30NIFTY Alpha 50NIFTY Dividend Opportunities 50NIFTY High Beta 50NIFTY Low Volatility 50NIFTY200 Quality 30NIFTY 500 Value 50NIFTY 100 Quality 30SECTORSAgricultureAirlinesAluminiumAsset Management CompaniesAutomobilesAuto AncillariesBanks (Private)Banks (PSU)BankingCementChemicalsDefenceDiagnosticsDronesEngineeringElectric VehicleElectric Vehicle BatteryEnergy SourcesESGEthanolFertilizersFintechFMCGFoodGreen HydrogenHotelsInfrastructureInsuranceInvestment and FinanceInvITIT (Large)IT (Others)LogisticsMediaMetalMiningIndia's Big Tech StocksIndian PharmaMNC PharmaPSUPaintPaperPlasticPowerRating AgenciesReal EstateREITsRenewable EnergyRetailingSemiconductorShippingSteelSugarSupply ChainTelecomTextilesTravel Support Services

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