Sensex Today Rallies 970 Points; Nifty Closes Above 21,450

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 After a firm opening, the bull run continued for the second straight trading session and ended the day at a record high.Dovish Federal Reserve commentary, strong Foreign Institutional Investors (FIIs) inflows, and positive global cues powered Dalal Street today.At the closing bell, the BSE Sensex stood higher by 970 points (up 1.4%).Meanwhile, the NSE Nifty closed higher by 273 points (up 1.3%).HCL Tech, Infosys, and TCS were among the top gainers today.Bharti Airtel, Nestle, and Maruti Suzuki, on the other hand, were among the top losers today.The GIFT Nifty was trading at 21,556, up by 113 points, at the time of writing.Border indices ended on a mixed note with the BSE MidCap index ending flat while the BSE SmallCap index rose by 0.6%.Sectoral indices ended in green with stocks in the IT sector, Metal sector, Oil & Gas sector, and Energy sector witnessing most of the buying.Whereas, the realty sector and FMCG sector witnessed selling.Shares of TCS, L&T, and Bajaj Finserv hit their respective 52-week highs today.Now track the biggest movers of the stock market using stocks to watch today. This should help you keep updated with the latest developments…Asian share markets ended on a mixed note. The Shanghai Composite ended 0.6% lower while the Nikkei ended 0.9% higher. The Hang Seng rose 2.4%.The rupee is trading at 83.2 against the US$.Gold prices for the latest contract on MCX are trading flat at Rs 62,479 per 10 grams.Silver for the latest contract on MCX is also trading flat at Rs 75,042 per 1 kg.Here are three reasons why Indian markets rallied today.#1 Strong FII InflowsFIIs have been injecting over Rs 39 billion (bn) daily on average in December 2023, contributing to the Sensex surpassing 71,500 and Nifty reaching 21,400.NSDL data reveals that in the first 10 days of the month, FIIs invested Rs 392 bn in the Indian market.The trend is attributed to the US Federal Reserve’s indication of three rate cuts in 2024.This strong inflow follows November 2023’s inflow of Rs 90 bn and previous months of continuous selling in September 2023 and October 2023.#2 The Rupee FactorOn Friday, 15 December 2023, the Indian rupee traded 3 paise higher against the US dollar, reaching 83.30.This uptick is attributed to the weakening of the US dollar and positive movements in domestic equities.The US dollar index, measuring the dollar against a basket of six currencies, saw a slight decline of 0.02% to 101.94.#3 Positive Global CuesThe Asian markets, including Hong Kong’s Hang Seng, Australia’s S&P/ASX 200, and South Korea’s Kospi, climbed today.The positive trend was influenced by the ongoing rally in the US indices – Dow Jones.China also released November 2023 data on industrial output growth, retail sales, house prices, and urban investment, with notable expansion in industrial output.Hong Kong’s Hang Seng index led the gains with a 2.4% increase.
 Why Texmaco Rail & Engineering’s share price is RisingIn news from the railway sector, the share price of Texmaco Rail and Engineering rose 10% in early trade today and hit its new 52-week highs.The rally was followed after the company declared that they won a Rs 13.7 bn order from the Ministry of Railways.The order involves manufacturing and supplying 3,400 BOXNS wagons. This order comes after Texmaco’s joint venture with SS Fabricators and Manufacturers secured an order worth Rs 1.8 bn from SJVN Arun-3 Power Development Company in October 2023.In November, the company raised Rs 7.4 bn through a Qualified Institutional Placement.For the September quarter, Texmaco reported a 70% year-on-year (YoY) increase in consolidated net profit at Rs 200 million (m), with consolidated income rising 64% YoY to Rs 8.1 bn.The share has been on an upward rally for quite some time. In 2023, the company has offered investors 2x returns.

Accent Microcell SME IPO Lists at 114% Premium
Moving on just two days back, we spoke about Accent Microcell IPO. Today, it is listed on the stock markets.Accent Microcell made an impressive market debut, opening at Rs 300 on the NSE SME platform, a 114% premium to the IPO price of Rs 140.The IPO received substantial interest, being oversubscribed 337 times on the last day of subscription.The issue saw bids for 1.3 bn equity shares against the offer size of 4 million (m), with high net-worth individuals bidding 577 times of their allotted quota and retail investors picking 409 times the reserved portion.Qualified institutional buyers subscribed 118 times the portion set aside for them.Accent Microcell plans to use the accumulated capital to set up a plant at Navagam Kheda for manufacturing various products and allocate the remaining funds for general corporate expenses.The company manufactures cellulose-based excipients for pharmaceuticals, nutritional supplements, food, cosmetics, and other industries.With two manufacturing facilities in Gujarat, it serves customers in India and more than 45 countries globally, including the US, Canada, Germany, the UK, Japan, China, and Australia.
 Suzlon Energy Bags a New ProjectMoving on with the energy sector, Suzlon Energy was in the news today.The share price of Suzlon Energy saw a 3% rise in its stock today after it secured a 100.8 megawatt (MW) wind power project from a global utility company.The project is located in Gujarat and it involves the installation of 32 wind turbine generators with a hybrid lattice tubular tower, each having a rated capacity of 3.15 MW as part of Suzlon’s 3 MW series.The company will handle the project’s supply, supervision, and commissioning, along with post-commissioning operation and maintenance services.This initiative aligns with India’s goal of achieving carbon neutrality.Suzlon’s 3 MW to 3.15 MW wind turbine series recently received government approval, too.In 2023 so far, the share has offered 256% returns to its investors.More By This Author:Sensex Today Trades Higher; Texmaco Rail Rallies 8%Sensex Today Rallies 930 Points; IRFC Zooms 10%Sensex Today Zooms 900 Points After Fed Signals Rate Cuts In 2024


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