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Stock Market Update - Sensex Gain; Nifty Near Record High, Maruti Suzuki Gains

Maruti Suzuki Gains After BofA Securities Upgrades Stock Rating Shares of Maruti Suzuki rose as much as 1.9 percent to Rs 7,276.50 after BofA securities upgraded the stock rating and hiked price target.

Sensex Extends Gain; Nifty Near Record High Indian equity benchmarks extended opening gains to trade at day’s high. The S&P BSE Sensex rose as much as 370 points or 0.9 percent to hit an all-time high at 41,308.61. The NSE Nifty 50 rose as much as 0.86 percent to 12,157.50, about one-point away from its record high of 12,158.80. 

The broader markets represented by the NSE Nifty 500 Index rose as much as 0.73 percent. The NSE Nifty Bank Index, too, hit an all-time high at 32,213.35 after gaining as much as 0.75 percent.

NIIT Technologies Jumps The Most In Three Months Shares of the IT services provider rose as much as 7.1 percent, the most since August, to Rs 1,577.50. The Noida-based firm's board will consider a proposal for share-buyback on Dec. 23, according to its exchange filing. The trading volume was 14 times its 20-day average for this time of the day, Bloomberg data showed.

NEWS ALERT | 

1. SAT directs Axis Bank to approach SEBI for relief in Karvy Broking Case: CNBC TV18
-- Status quo to be maintained w.r.t shares in Karvy's Demat account until SEBI passes an order

Alert: SAT is Securities Appellate Tribunal 

2. SC court stays Bombay HC judgment, allows for the Project to resume in part: CNBC TV18
-- Partially lifts stay on construction of Mumbai Coastal Road Project

-- Marginal relief for the Rs 14,000 cr Mumbai Coastal Road Project

3. Infy Deputy CFO Jayesh Sanghrajka withdraws resignation: CNBC TV18 quoting unnamed sources
-- He will stay as Deputy CFO with additional responsibilities. 

Alert: Infosys declined to comment

Rupee at day's high: The Indian rupee is trading near day's high level at 70.88 per dollar.

Whirlpool of India slips 6% after MD Sunil D'Souza steps down - Shares of Whirlpool of India slipped 6 percent to Rs 2,122 on the BSE on Tuesday after the consumer durable maker's Managing Director Sunil D'Souza resigned from the company.


Sensex | Market News | Rupee | Dollar | Nifty | NIIT Tech 

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