Business News Highlights: Stock Market Closes In Green, Sensex Settles 539 Points Up, Nifty Above 22,000

Business News Highlights: Please follow this space for all the breaking news and latest updates from the Stock Market, economy, and corporate world

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Business News Highlights: Hello and welcome to ABP Live's Business LIVE blog. Please follow this space for all the breaking news and latest updates from the Stock Market, economy, and the corporate world.

The two primary equity indices, Sensex and Nifty, began the trading session on a higher note on Thursday, following optimistic global sentiments that were subsequent to the US Federal Reserve's decision to maintain its current interest rates. At 10 am, the Sensex surged by 542.27 points or 0.75 per cent to reach 72,643.96, while the Nifty climbed by 168.20 points or 0.77 per cent to reach 22,007.30. During the session, 2510 shares advanced, 461 shares declined, and 93 shares remained unchanged.

In the previous trading session on Wednesday, amid volatility preceding the US Fed policy decision, both the Sensex and Nifty concluded Wednesday's session with gains. The S&P BSE Sensex closed 90 points higher at 72,102, while the NSE Nifty50 settled at 21,839, up by 22 points.

On Wednesday, Reserve Bank of India (RBI) Governor Shaktikanta Das engaged in a non-agenda courtesy meeting with Union Finance Minister Nirmala Sitharaman. This meeting took place around two weeks ahead of the central bank's scheduled session to discuss the benchmark policy rate. The Monetary Policy Committee (MPC), presided over by Das, is set to convene from April 3 to April 5, marking its first session for the fiscal year 2024-25.

Furthermost, during his address at the Startup Mahakumbh event on Wednesday, Prime Minister Narendra Modi asserted India's forthcoming leadership in artificial intelligence (AI) capabilities. He passionately encouraged young entrepreneurs and startups to spearhead 'Indian solutions for global applications,' underscoring the significant role these innovations would have in tackling global challenges.

"We are witnessing the dawn of a new era in AI technology, and the world recognises India's potential to lead in this domain. It is imperative that we seize this opportunity and ensure our continued dominance," asserted Modi.

18:14 PM (IST)  •  21 Mar 2024

PE, VC Investments Dip To $2.2 Billion In Feb Amid Decline In Major Deals: Report

Private Equity and venture capital investments in February dropped to USD 2.2 billion, marking a 39 per cent decrease compared to the USD 3.7 billion recorded during the same period last year, according to a report released on Thursday. Month-on-month, these investments experienced a significant decline of 67 per cent.

Despite this decline, the number of deals surged to 120 transactions in February, surpassing the 86 deals in January and the 57 deals reported in February 2023, as per the report published by industry lobby group IVCA and consultancy firm EY.

17:30 PM (IST)  •  21 Mar 2024

Nissan Motor India Appoints Saurabh Vatsa As MD

Nissan Motor India announced the appointment of Saurabh Vatsa as Managing Director, effective from April 1, 2024. Vatsa, who assumed the role of Deputy Managing Director on January 15 of this year, will now report to Frank Torres, President of Nissan India Operations and Region Divisional Vice President of Business Transformation (AMIEO), according to a statement by the automaker on Thursday. Vatsa succeeds Rakesh Srivastava, who is set to retire on March 31, 2024.

16:41 PM (IST)  •  21 Mar 2024

Central Bank's M V Rao Elected Chairman Of Indian Banks' Association

MV Rao, the Managing Director and Chief Executive Officer of the Central Bank of India, was elected the Chairman of The Indian Banks' Association (IBA) on Thursday. During the managing committee meeting held on the same day, Dinesh Kumar Khara, the Chairman of State Bank of India, along with S L Jain, Managing Director and Chief Executive of Indian Bank, and N Kamakodi, Managing Director and Chief Executive of City Union Bank, were chosen as vice-chairmen of the association.

Additionally, Madhav Nair, the Country Head and Chief Executive of the Bank of Bahrain and Kuwait, was elected as the honorary secretary, as stated by the association.

16:29 PM (IST)  •  21 Mar 2024

Rupee Surges 6 Paise To Against US Dollar

The Indian rupee gained 6 paise to close at 83.13 (provisional) against the US dollar on Thursday. This uptick was supported by a strong performance in domestic equities and a weakening greenback amid increased risk appetite for higher-yielding assets. Starting the day at 83.07 against the dollar in the interbank foreign exchange market, the rupee reached an intraday high of 83.04 and a low of 83.16. Finally, it settled at 83.13 (provisional), marking a 6-paise increase from its previous close of 83.19.

15:48 PM (IST)  •  21 Mar 2024

Stock Market: Sensex Settles 539.50 Points Up, Nifty At 22,012

The Sensex surged by 539.50 points or 0.75 per cent, reaching 72,641.19, while the Nifty climbed by 172.90 points or 0.79 per cent, closing at 22,012.00. Of the total shares traded, 2,591 witnessed gains, 766 declined, and 88 remained unchanged. In a bullish market, all sectors concluded with gains, with smallcaps and midcaps surpassing their large-cap counterparts. The Nifty PSE index emerged as the top sectoral performer, soaring by 3.5 per cent.