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The rally was driven by a decline in U.S. inflation in December, raising expectations of additional interest rate cuts by the Federal Reserve.

Waaree Renewable Technologies reported a 16.7% YoY net profit decline to ₹53.50 crore for Q3 FY24, despite a 12.4% income rise. The company announced a ₹1/share interim dividend and saw its stock drop 7.2% amid CFO resignation and market volatility.

The Nifty IT index closed 0.49 per cent at 43188.85.

The Indian market closed higher for the third straight day on Thursday, with the Sensex gaining 300+ points and Nifty50 surpassing 23,300. Capital goods, telecom, and metals drove gains, while select stocks hit fresh highs.

Markets expert Samir Arora challenges the commonly held view of an extraordinary bull run. Through his analysis of the Nifty and broader indices, Arora advocates for a more measured approach to market expectations, focusing on long-term, money-weighted returns.

Over the past two years, Waaree Technologies shares delivered a 150.41% return. However, the stock has faced sharp declines, dropping 59% in the last year, 68.9% over six months, and 56.9% in three months, according to BSE Analytics, reflecting a significant downturn in recent performance despite earlier gains.

Nearly 26 stocks recorded over 1 crore share additions in December.

The Indian rupee weakened on Thursday, as dollar demand from foreign banks and importers outweighed the impact of softer U.S. bond yields while likely intervention by the central bank capped losses.