Business News Highlights: Stock Market Closes, Sensex, Nifty Settles Flat Amid Volatility
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At 10 am on Thursday, the Sensex declined by 33.55 points or 0.05 per cent, reaching 74,052.44, while the Nifty decreased by 1.30 points or 0.01 per cent, settling at 22,472.70. During this period, 1,978 shares advanced, 990 shares declined, and 98 shares remained unchanged.
In the last trading session on Wednesday, Sensex and Nifty experienced a significant rebound, primarily driven by an upward surge in banking and financial shares. The S&P BSE Sensex, which had remained in negative territory for most of the day, concluded the session 409 points higher at 74,086. This marks the first instance of the Sensex surpassing the 74,000 mark. Conversely, the NSE Nifty50 closed at 22,474, registering an increase of 118 points or 0.53 per cent. The BSE benchmark achieved a record high of 74,151, while the Nifty50 reached 22,497.
Furthermore, on Wednesday, the Securities and Exchange Board of India (SEBI) introduced a third settlement scheme targeting entities involved in reversal trades within the stock options segment on BSE during 2014 and 2015. As per SEBI's statement, the scheme is scheduled to commence on March 11 and conclude on May 10. Entities failing to participate in this settlement opportunity within the scheme period will be subject to actions in line with relevant securities laws. Additionally, SEBI disclosed that frequently asked questions regarding the scheme will be available on the websites of SEBI and BSE starting March 11.
The governor of the Reserved Bank of India (RBI), Shaktikanta Das, suggested that India's GDP growth for the current fiscal year ending in March may reach "very close" to 8 per cent. Speaking during an interview on Wednesday, Das highlighted India's economy achieving a growth rate of 8.4 per cent in the final quarter of 2023, marking its fastest pace in 18 months.
Gold Surges Rs 500 To Rs 65,650 Per 10 Grams
Gold prices surged by Rs 500 to reach Rs 65,650 per 10 grams in the national capital on Thursday, buoyed by a rally in international markets, according to HDFC Securities. Continuing its upward trend for the third consecutive day, the precious metal reached a new all-time high of Rs 65,650 per 10 grams.
Tata Motors To Raise Commercial Vehicle Prices By Up To 2% In April
Tata Motors announced on Thursday that it will raise prices for its commercial vehicles by up to 2 per cent, effective April 1, 2024. According to the auto giant, this adjustment aims to counterbalance the lingering effects of previous input cost escalations. The increase will be tailored to each model and variant within Tata Motors' entire commercial vehicle lineup, encompassing trucks and buses.
Sensex, Nifty Ends Flat Amid Volatility
Colossa Ventures Secures Rs 100 Crore In Funding
Colossa Ventures, a venture capital management firm, announced on Thursday that they have successfully raised Rs 100 crore for its debut fund, which targets a total corpus of Rs 500 crore. This women-centred fund will primarily prioritise investments at the pre-series-A stage and beyond, according to the firm's official statement.
CBI Searches 67 Locations Across 7 Cities In Connection With IMPS
The Central Bureau of Investigation (CBI) reportedly conducted extensive search operations at 67 locations across seven cities in Rajasthan and Maharashtra in connection with a case involving suspicious IMPS (Immediate Payment Service) transactions amounting to approximately Rs. 820 crores across multiple UCO Bank accounts, reported ANI.
According to the report, on March 6, the search operations were carried out in Rajasthan, including Jodhpur, Jaipur, Jalore, Nagaur, Barmer, Phalodi, as well as in Pune, Maharashtra. These operations resulted in the seizure of around 130 incriminating documents related to UCO Bank and IDFC, along with 43 digital devices, including 40 mobile phones, 2 hard disks, and 1 internet dongle, for forensic analysis. Additionally, 30 suspects were identified and examined on-site.
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