The market capitalisation of BSE-listed firms reached an all-time high of Rs 299.90 lakh crore on Wednesday despite the Sensex falling marginally after a remarkable record-breaking rally in the last few trading sessions. The 30-share BSE Sensex dipped 33.01 points or 0.05 per cent to settle at 65,446.04, after rallying in the past five trading straight sessions. During the day, the benchmark hit a low of 65,256.49 and a high of 65,584.33.
Customers would be able to make money transfers, pay utility bills and recharge their mobile and DTH connections with just one click and a single PIN entry
As part of its 'go-green' initiative, HDFC Bank has started sending PIN, unique code number, for debit card holders through SMS instead of the practice of sending it by post.
The lender has said it is betting on increased loan demand in smaller cities to boost growth in a slowing economy.
The recent equity market weakness has sobered up investor mood, but the coming festive season is keeping analysts upbeat on stocks related to the consumption basket. Among the lot, fast-moving consumer goods (FMCG), retail, and consumer electronics segments are expected to do well over the next few months, and investors should thus selectively take bets in these pockets, analysts suggest. "We expect good volume growth for the FMCG sector during the festive season with some improvement in rural demand.
Among the Sensex firms, HDFC Bank emerged as the biggest loser, falling 4 per cent. JSW Steel, Reliance Industries, UltraTech Cement, Maruti, Tata Steel, Wipro, Tech Mahindra, Bharti Airtel and Larsen & Toubro were the other major laggards. Power Grid, Asian Paints, Sun Pharma, Axis Bank, NTPC, ITC and Infosys were among the gainers.
The Securities and Exchange Board of India has charged HDFC Bank with not exercising due diligence, resulting in several demat accounts being opened under fictitious names leading to the IPO scam.
The improving outlook for the power sector has caught the interest of dividend yield funds. In the first four months of the current financial year (2023-24, or FY24), five of the six largest dividend yield funds have shown a notable increase in their exposure to stocks within the power sector. Some have even introduced new stocks to their portfolios.
India's top home loan lender HDFC on Tuesday hiked lending rates by 0.50 per cent in the wake of Reserve Bank hiking key short term interest rates.
HDFC has 28.71 crore shares, which would go up to 143.55 crore after the split.
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