India Indexes On Recovery Path Amid Improving Market Sentim

Arjun Pandit
04 Dec, 2024
Mumbai

Stock market indexes in Mumbai edged higher for the fourth session in a row, and crude oil prices held steady near the recent lows. 

The Sensex index edged higher 0.3% to 81,148.5, and the Nifty index advanced 0.4% to 24,560.80. 

Crude oil prices hovered near an 18-month low as OPEC+ members are nearing the agreement to postpone the previously announced production increase amid weak growth in demand. 

The member nations are expected to announce their decision to delay the production increase by three months at its meeting on Thursday. 

South Korea's benchmark index plunged as much as 2% after President Yoon Suk Yeol unexpectedly imposed martial law late Tuesday. 

Six hours later, President Yeol reversed his decision after the National Assembly voted against it and demanded his resignation or face impeachment. 

The finance ministry said it is ready to pump 10 trillion yen, or about $7.5 billion, to stabilize the financial markets, according to the Yonhap news agency. 

 

India Stock Movers 

Adani Energy Solutions Ltd. increased 1.8% to ₹813.95, and the company is likely to win a ₹25,000 crore order from Rajasthan for a transmission system project. 

Swiggy increased 2.7% to ₹515.15, and the company reported a slight improvement in its quarterly loss in the September quarter. 

Net loss in the quarter edged lower to ₹625.5 crore from ₹657 crore a year ago but rose from ₹611 crore in the fiscal first quarter. 

DLF increased 0.0.3% to ₹847.20, and the company appointed Badal Bagri as the new chief financial officer effective December 6. 

Bank of Baroda increased 0.3% to ₹255.36, and Bank of India rose 2.5% to ₹116.94, and the two leading banks are looking to raise as much as ₹5,000 crore through the sale of infrastructure bonds. 

Godrej Properties decreased 1% to ₹2,833.80, and the company raised ₹6,000 crore through a secondary offering to institutional investors, the largest offering by a real estate company in India. 

Reliance Power jumped 5% to ₹41.09, and the government agency to implement solar projects, the Solar Energy Corporation of India, lifted its ban on the company. 

After the lifting of the ban, the power company will be able to participate in future tenders for renewable energy projects.