Latest Stock Market News

"We estimate that this development drilling will enhance production by over 100 million tonnes of oil and oil equivalent gas over the life of the field," he said. "The investment involved in drilling and facilities will be over USD 2 billion." ONGC produces two-third of all oil and gas produced in the country and any incremental production would help the country cut its dependence on imports for meeting energy needs.

Stocks that were in focus include names like Finolex Cables that were up nearly 8%, ITC gained nearly 1% to hit a fresh 52-week high, and Equitas Small Finance Bank rose nearly 9%.

Helping provide confidence to buyers, Nvidia Corp posted positive earnings and surged 14% after forecasting quarterly sales above estimates and reporting a surge in the use of its chips to power artificial intelligence services.

A separate report on Thursday showed the fourth-quarter personal consumption expenditures (PCE) price index accelerated at a 3.7% pace, revised up from the previously estimated 3.2% pace. The upgrades point to higher January PCE price index readings, due at 1330 GMT. Traders of Fed funds futures expect benchmark rates to peak at 5.343% in July and remain above 5% through the year.

Cumulative recovery ratio has also improved to 42% post the Insolvency and Bankruptcy Code (IBC) from 6% to 20% in 2015. Redemption ratio or the ratio of SRs redeemed and SRs issued improved to 44% post IBC from 17% before the law came into force.

​​Banga has "critical experience mobilizing public-private resources to tackle the most urgent challenges of our time, including climate change," said Biden in a statement, amid a push for lenders to revamp and address global problems more effectively.

PSU banks have taken the lead in raising deposit rates, offering as high as 8.5% to senior citizens for specific tenures. State Bank of India now offers 7.1% for a 400-day deposit, with senior citizens earning 7.6%. Among other nationalised banks offering attractive rates are Union Bank of India -7.3% for an 800-day deposit, and Central Bank 7.25% - for a 444-day deposit. Punjab and Sind Bank offers 8% for a 221-day deposit if done online, with senior citizens earning 8.5%.

Bharat Forge said in order to house all defense related investments of the company under one entity, the ‘investment committee – defence business’ has approved the transfer of the company’s stake in Aeron Systems to Kalyani Strategic Systems, a wholly-owned subsidiary of the company.

The equity AUM of local mutual funds includes all equity exposure from equity funds to balanced funds. It rose by 13% to Rs 22.6 lakh crore in January from the year ago.

In FY19, Sebi passed a guideline wherein the listed large corporates with borrowings of Rs 100 crore or more and with credit ratings of AA and above would have to borrow 25 per cent or more of the incremental borrowings through bonds