MARKET OVERVIEW :

• • • Currency Market Overview December 13, 2023

    • .        Sensex down 400 points; Nifty IT slips 2%:

·        UltraTech Cement share price crosses ₹10,000 mark, up 40% this year

·        Sensex slips 396 to 69,154.38; Infy, TCS down nearly 3%

·        Sensex drops 300 points dragged by Infosys, TCS, HDFC Bank, Axis Bank

·        Smallcap and Midcap indices outperform benchmark Sensex in early trade

Benchmark indices Sensex and Nifty slipped in trade on Wednesday following the plunge in IT stocks. The release of domestic and U.S. inflation data also rekindled worries about the likelihood of a delay in interest rate cuts by central banks.  Markets are positive but ended lower on Tuesday.

Benchmark equity indices suffered deep cuts on Wednesday as IT stocks dragged over 2%. Investors exercised caution as they awaited the US Federal Reserve’s decision on interest rates. Sensex and Nifty were down more than 0.6% each as the domestic and U.S. inflation data rekindled worries about the likelihood of a postponement in interest rate cuts. India’s retail inflation in November witnessed its quickest increase in three months at 5.55%, up from 4.87% in October and 5.02% in September; the figure is higher than RBI’s target of 4%, but still remains within its tolerance range of 2-6% for the third consecutive month. India’s industrial output in October surged to a 16-month high at 11.7%, propelled by mining, manufacturing, and electricity sectors, as well as the effect of a low base comparison. The Indian rupee was flat, trading around 83.38 against the US dollar. In Asia, stock markets showed mixed performances following mild movements on Wall Street, as investors awaited the final Federal Reserve decision of the year. 

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Sensex Today Live: UltraTech Cement share price crosses ₹10,000 mark, up 40% this year

Shares of UltraTech Cement, a flagship company of the Aditya Birla Group, surged beyond the ₹10,000 mark for the first time, reaching an all-time high of ₹10,042.95 apiece, gaining 1.82%. This impressive performance has propelled the company’s market capitalization to nearly ₹3 lakh crore.

Sensex slips 396 to 69,154.38; Infy, TCS down nearly 3%

Sensex slips 396 to 69,154.38 as investors exercise caution ahead of US Federal Reserve’s decision; Infy, TCS down nearly 3%

Sensex at day’s low, down 400 points dragged by IT heavyweights TCS and Infosys

Sensex was at the day’s low, down 350 points dragged by IT heavyweights TCS and Infosys ITC’s FMCG business grows at 14% CAGR in last 3 yrs; shares rise The conglomerate has reported a significant growth in its FMCG sector, achieving a compounded annual growth rate of 14% over the past three years. This growth is particularly highlighted by the success of its Aashirvaad brand, which has reached a milestone of ₹8,000 crore in consumer spending.