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