The NSE Nifty index closed 445.75 points up at 24188.65
The White House will soon be occupied by Donald Trump - whom Elon Musk spent more than a quarter-billion dollars to help elect - rather than Joe Biden, who appointed Gensler. Trump has already named a new SEC chair to replace Gensler, who plans to resign when Trump is inaugurated.
India skipper Rohit Sharma might be dropped from the fifth and final Test against Australia due to poor form. Head coach Gautam Gambhir refused to confirm if Rohit will play. Jasprit Bumrah may take over as captain. Rishabh Pant may also be dropped. India's chances in the World Test Final are uncertain.
The BSE Sensex surged 1,436 points, driven by strong financial, auto, and IT stock performances. Notable stocks included Sundaram Finance, Eicher Motors, Bajaj Finance, Jai Corp, and Petronet LNG.
Nestaway founder Amarendra Sahu has filed a criminal complaint against investors including Tiger Global and Goldman Sachs. He alleges fraud, cheating, and forgery regarding unpaid dues from Nestaway's sale to Aurum Prop Tech. Investors have challenged the FIR in court. The hearing is set for January 9. If not quashed, the case will go to trial.
The Nifty Pharma index closed 0.4 per cent at 23553.40.
Indian businessman Sajjan Jindal and his family attended the wedding of Nawaz Sharif's grandson, Zayd Hussain Nawaz, in Lahore. Jindal, the managing director of JSW Steel, was among 700 guests including other Indians. The Jindal family shares strong ties with the Sharif family. Their visit was kept low-profile and secured by a heavy police contingent.
The Supreme Court directed Uttar Pradesh authorities to provide medical and magisterial inquiry reports on the death of jailed gangster-politician Mukhtar Ansari. Ansari, who died of cardiac arrest in March 2024, had over 60 criminal cases against him. His son sought to transfer him due to safety concerns.
Following an announcement about an increase in GST on caramel popcorn, the Finance Minister clarified caramelised popcorn is taxed higher due to added sugar. This led to social media trends and pranks related to GST. The GST Council later stated no changes to the tax structure. People expressed their opinions with memes and a viral prank video emerged.
In the Nifty 50 index, 48 stocks ended in the green, while 2 stocks closed in the red in today's trade.
The rupee depreciated 9 paise to close at 85.73 (provisional) against the US dollar on Thursday, as strong dollar demand from importers and foreign fund outflows dented investor sentiments. Forex traders said the dollar gained against most currencies during 2024 and continued to remain on a strong footing this year.
New Orleans crash: The suspect in the New Orleans deadly was mass killing was identified as 42-year-old army veteran Shamsud-Din Jabbar. Authorities found an Islamic State flag in the truck which he rammed the crowd, killing 15 people. The suspect, who was killed in a shootout with the police, had reportedly pledged allegiance to the ISIS in his Facebook videos a night before the deadly attack.
Top 5 small cap funds with 3-year returns up to 29%
In the Nifty50 index, 48 stocks closed in the green, while 2 stocks ended in the red.
Jefferies has named Siemens, HAL, Thermax, and L&T as top picks ahead of Budget 2025, with potential growth of up to 49%. The FY25 budget may see 10-12% YoY capex growth. The report highlights opportunities in power, defence, and infrastructure sectors. Company-specific triggers include Siemens' power T&D recovery and Thermax's clean energy focus.
Budget 2025: Finance Minister Nirmala Sitharaman held her seventh pre-Budget consultation with financial sector and capital market stakeholders. Despite India's economy growing at 5.4% in Q2 of 2024-25, lower than RBI's 7% forecast, the government is focusing on recovery amid weak consumption and GDP numbers.
US President-elect Donald Trump said USA is 'breaking down' and said the country is a 'disaster and laughing stock all over the world' after deadly mishaps sent shockwaves in America. Trump's statement came after the deadly New Orleans car attack which killed 15 people, although he did specifically mention the incident in his post. Trump also said DOJ, FBI, and Democrat state and local prosecutors have not done their job.
The financial sector shows a mixed outlook. Credit growth faces challenges from credit substitution and slower deposit growth. However, the brokerage prefers public sector banks, highlighting their attractive valuations and superior loan-to-deposit ratios compared to private banks.
A new cyber fraud, called the 'Pig Butchering Scam', is targeting vulnerable people like unemployed youths, housewives, and students. Cybercriminals are using Google services and social media platforms like Facebook and WhatsApp to commit these crimes. The Indian Cyber Crime Coordination Centre and Google are working together to combat this menace.
Discover Kashmir: 6 activities for a perfect winter escape
As OfBusiness prepares for a potential $1 billion IPO next year, the launch of Nexizo.AI marks a strategic step toward building a vertical commerce ecosystem focused on materials, finance, and software solutions, the company said in a release.
