Indian Indices Rebound, REC Secures Rs 16,000 Cr for Road Projects

9 Jan 2024 , 01:22 PM

Domestic benchmark indices experience a sharp rebound following Monday’s decline, driven by buying activity in IT stocks and Bajaj Auto.

On January 9, buying activity surged in the domestic market, fueled by positive signals from global markets that bolstered the confidence of D-Street bulls. The market received support from easing US bond yields, a significant decline in crude prices, and a lower dollar index, contributing to a positive investor sentiment. Additionally, substantial gains from index heavyweights such as Infosys, TCS, L&T, HDFC Bank, and ICICI Bank further reinforced the upward trend.

At the time of writing, Sensex trades at Rs 71,984, marking a 0.88% increase from the previous close. Nifty is at Rs 21,705, reflecting a 0.89% increase from the previous close.

Top Nifty Gainers:

1. Hero MotoCorp
2. L&T
3. Apollo Hospitals
4. SBI Life Insurance
5. Adani Ports and SEZ

Top Nifty Losers:

1. Nestle
2. Britannia
3. ONGC
4. UltraTech Cement
5. Asian Paints

REC Limited signs four MoUs totaling Rs. 16,000 crore with Dilip Buildcon Limited, GMR Power & Urban Infra, CDS Infra Projects Limited, and DP Jain & Co. Infrastructure Pvt. Ltd for financing road and highway projects.

The Maharatna company hosts a conference on ‘Financing for Roads and Highways’ to facilitate discussions on financing aspects within the sector.

Zee Entertainment shares witness a 10% decline in early trade after reports that Sony is considering scrapping the $10 billion merger with its Indian unit. The rupee strengthens by 9 paise to 83.05 against the US dollar in early trade.

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