Stock Market LIVE: Sensex Jumps 325 Pts, Nifty Crosses 24,550 As NTPC Leads

Gold prices on Wednesday rose marginally by Rs 37 to Rs 76,940 per 10 grams in futures trade as speculators created positions on a firm spot demand.

On the Multi Commodity Exchange, gold contracts for February delivery traded higher by Rs 37 or 0.05 per cent at Rs 76,940 per 10 grams in a business turnover of 12,338 lots.

Crude oil prices on Wednesday climbed Rs 23 to Rs 5,952 per barrel in futures trade as participants increased their positions following a firm spot demand.

On the Multi Commodity Exchange, crude oil for December delivery traded higher Rs 23 or 0.39 per cent at Rs 5,952 per barrel in 11,359 lots.

Venture Capital firm Antel India is planning to invest $25 million, or about Rs 211 crore, in 50 startups in 2025, the company said on Wednesday.

The venture capital firm has invested in 30 startups in 2024 through its maiden $75 million fund.

India's services PMI marginally dipped to 58.4 in November while employment in the segment recorded robust growth, a monthly survey said on Wednesday.

The seasonally adjusted HSBC India Services Business Activity Index was down marginally to 58.4 from 58.5 in October as sales increased at a softer pace. Last month, the country's services PMI recovered from its 10-month low.

Shares of Reliance Power jumped 5 per cent on Wednesday after Solar Energy Corporation of India (SECI) said it has withdrawn the debarment notice issued to the company enabling the Anil Ambani-led firm to participate in future tenders of the public sector entity.

The stock climbed 4.98 per cent to Rs 41.07 -- its upper circuit limit -- on the BSE.

India is estimated to have a cumulative affordable housing shortage of 31.2 million units by 2030 with a potential market size of Rs 67 trillion, according to a joint report by CII and Knight Frank.

Industry body CII and real estate consultant Knight Frank India on Wednesday released a joint report 'Affordable Housing in India' at a conference here, pointing out that there is already an existing shortage of 10.1 million units.

Shares of food and grocery delivery platform Swiggy on Wednesday jumped nearly 7 per cent after the firm reported narrowing of consolidated net loss at Rs 625.53 crore for the second quarter ended September 30 on the back of continued growth of food delivery business.

The stock surged 6.69 per cent to Rs 534.85 on the BSE.

China stocks weakened on Wednesday, while Hong Kong stocks were flat as slower services sector growth and escalating trade frictions with the US dampened investor sentiment. 

The domestic stock market opened marginally higher on Wednesday after a three-session winning streak, with traders expecting the market to see incremental moves ahead of the domestic central bank's interest rate decision later in the week.

The Chinese yuan edged up on Wednesday from a 13-month low against the dollar following firmer guidance by the central bank, interpreted by markets as a sign of rising unease over its recent rapid declines.

The yuan has faced renewed depreciation pressure from President-elect Donald Trump's tariff threats and monetary policy divergence between China and the United States.

“The current market sentiment does not reflect the weak GDP growth forecast, as smart investors focus on long-term growth and value-buying activities. This optimistic outlook is prompting buying activities in companies that recorded a significant dent in their valuation but are now trading at par or a discount. Additionally, companies with strong results and decent order books operating in policy-focused sectors are generating interest among long-term investors. On the other hand, slow demand from the manufacturing sector has slumped crude prices, affecting company revenues. While the government responded by removing the Windfall Tax, it’s uncertain whether the benefits will reach the end-users," said VLA Ambala, Analyst, Stock Market Today.  

Ambala suggested exploring value buying, focusing on personal investment goals, and accumulating leading mid-cap and small-cap stocks with a 2-3 ROI horizon.

 Asian equities stumbled on Wednesday while currencies were volatile as traders scrambled to contend with the political storm in South Korea, where martial law was imposed and subsequently lifted hours later.

Japanese rubber futures rose on Wednesday, supported by a weaker yen and supply concerns in China, but bearish sentiments over recent U.S.-China trade war developments capped gains.

The Osaka Exchange (OSE) rubber contract for April delivery JRUc6, 0#2JRU: was up 3.8 yen, or 1.03 per cent, at 374.5 yen($2.50) per kg as of 0150 GMT.

The domestic stock markets are set for a flat start as the GIFT Nifty, a key pre-market indicator for markets, remains unchanged on Wednesday morning. The markets which recorded substantial gains on Tuesday are expected to carry forward the positive momentum for the third straight session. Adani Ports, NTPC, SBI, and other winners of Tuesday are likely to remain in focus. 

US job openings increased solidly in October while layoffs dropped by the most in 1-1/2 years, suggesting the labour market continued to slow in an orderly fashion.

However, the Job Openings and Labor Turnover Survey, or JOLTS report, from the Labor Department on Tuesday also showed employers were hesitant to hire more workers. The historically low level of layoffs is anchoring the labour market and the broader economy through higher wages that are driving consumer spending.

The S&P 500 and Nasdaq eked out record closing highs on Tuesday, with tech-related shares extending recent gains as investors awaited further jobs data.

The Dow finished slightly lower on the day.