Stock Market LIVE: Sensex Zooms 1.047 Pts As IT Stocks Lead Charge

Fairfax India Holdings will buy an additional 10 per cent stake in Bengaluru airport operator BIAL, hiking its overall shareholding to 74 per cent.

Bangalore International Airport Ltd (BIAL) is a joint venture between Fairfax India, Airports Authority of India (AAI) and Karnataka State Industrial and Infrastructure Development Corporation Ltd. The latter two entities have 13 per cent stake each.

Copper futures on Thursday rose 0.14 per cent to Rs 823.05 per kilogram on the back of higher spot demand.

On the Multi Commodity Exchange, copper contracts for December delivery climbed Rs 1.15 or 0.14 per cent to Rs 823.05 per kg in a business turnover of 7,322 lots.

Zinc prices on Thursday rose Rs 1.10 to Rs 288.50 per kilogram in the futures trade amid a pick-up in spot demand.

On the Multi Commodity Exchange, zinc contracts for December delivery traded higher by Rs 1.10 or 0.38 per cent at Rs 288.50 per kg with a business turnover of 3,302 lots.

Hyundai Motor India Ltd on Thursday said it will increase prices of its vehicles across model range by up to Rs 25,000 from January 1, 2025.

The price increase has been necessitated owing to an increase in input costs, adverse exchange rate and increase in logistics costs, Hyundai Motor India Ltd (HMIL) said in a statement.

The domestic stock markets remained volatile on Thursday after the BSE Sensex moved from green to red and again back to green, moving within nearly 400 points range. 

The shares of Vodafone Idea dipped as much as 3.92 per cent on Thursday right ahead of the board meeting in which the Rs 2,000 crore fundraising proposal is set to to be tabled on December 9, according to an exchange filing.

China stocks flitted within a narrow range on Thursday, while Hong Kong shares dipped, as investors remained on the sidelines ahead of the central economic working conference that is likely to provide guidance on next year's economic stimulus plan.

At the midday break, the Shanghai Composite index .SSEC nudged 0.16% higher to 3,370.18 points.

Rupee opened on a flat note and rose just 4 paise from its all-time low level to 84.71 against the US dollar in morning trade on Thursday, as the support from positive domestic equities was negated by the broad strength of the American currency in the overseas market.

Forex traders said rupee is likely to remain under pressure in the near-term amid strong dollar and elevated in crude oil prices.

Domestic shares opened higher on Thursday, led by information technology stocks on positive comments on U.S. economic growth from Federal Reserve Chair Jerome Powell.

The NSE Nifty 50 .NSEI was up 0.24 per cent at 24,525.2 points, as of 9:38 a.m. IST, while the BSE Sensex .BSESN gained 0.28 per cent to 81,182.86.

The German economy will grow by only 0.1% next year, following two consecutive years of contraction, according to the forecasts of the German Economic Institute IW, seen exclusively by Reuters on Thursday.

The stability in the service sector is just enough to compensate for the continued declines in the industrial and construction sectors, according to IW, an economic institute close to employers.

Business activity across the euro zone fell sharply last month as the bloc's dominant services sector joined the manufacturing sector in contracting, according to a survey which showed a broadbased decline.

 Bitcoin rose above $100,000 for the first time on Thursday as the election of Republican Donald Trump as president of the United States spurred expectations that his administration will create a friendly regulatory environment for cryptocurrencies.

Asian stocks were mixed on Thursday in the wake of record peaks on Wall Street as a softer read on US services data boosted investor confidence in the Fed lowering interest rates.

The S&P 500 .SPX, Nasdaq .IXIC and Dow .DJI all notched record highs overnight and bitcoin BTC=, at times a barometer of the mood, was back within a whisker of $100,000.

Bank of Japan board member Toyoaki Nakamura said on Thursday the central bank must move "cautiously" in raising interest rates, as smaller firms have yet to see profitability strengthen enough to weather higher borrowing costs.

"I am personally not confident about the sustainability of wage growth," Nakamura said in a speech to business leaders in the western Japan city of Hiroshima.

The domestic stock markets are set for a positive start on Thursday after another positive ending on Wednesday. GIFT Nifty, a key pre-market opening indicator for domestic bourses, has inched 10 points higher as of 07:08 AM, indicating a positive start for the markets today. The markets will follow the Asian peers which are also trading marginally higher on Thursday morning. 

US Federal Reserve Chair Jerome Powell on Wednesday said the economy is stronger now than the central bank had expected in September when it began reducing interest rates, and appeared to signal his support for a slower pace of interest-rate cuts ahead.