In a significant development on Friday, December 20, 2024, the stock market witnessed a sharp decline. The BSE Sensex closed down by 1,176 points, settling at 78,041, while the Nifty saw a drop of 364 points, closing at 23,587. Out of the 30 Sensex stocks, 20 experienced gains while 10 saw declines.
Zomato Overtakes Tata Motors and Bajaj Auto: Market Cap Soars to ₹2.78 Lakh Crore
In a surprising turn of events, online food delivery company Zomato has now become a larger company than automotive giants Tata Motors and Bajaj Auto. Zomato’s market capitalization has surged to ₹2.78 lakh crore, surpassing both Tata Motors and Bajaj Auto. The company is now poised to join the prestigious Sensex index.
Other Major Headlines from the Market
- Gold and Silver Prices See a Dip: Gold prices dropped by ₹636, bringing the price of 24-carat gold to ₹75,377 per 10 grams. Silver also saw a decline, losing ₹1,902.
- India’s Wealthy to Double by 2027: According to research from the Anarock Group, the number of High-Net-Worth Individuals (HNIs) in India with assets over ₹8 crore is expected to rise to 16.5 lakh by 2027, up from the current 8.5 lakh.
- Adani Group to Invest ₹27,900 Crore in Bihar: Adani Group has announced a major investment of ₹27,900 crore in sectors such as thermal power, cement, logistics, and more in Bihar, which will generate 53,500 jobs.
- Google to Lay Off 10% of Employees in Managerial Roles: Google CEO Sundar Pichai announced that the company will reduce 10% of jobs in managerial positions, including Directors and Vice Presidents, amid increasing competition in AI.
- Bajaj Launches New Chetak 35 Series Electric Scooter: Bajaj Auto unveiled the updated Chetak 35 Series electric scooter, which offers improved features and a range of 153 km on a full charge, priced starting at ₹1.20 lakh.
As we head into the weekend, investors are watching the stock market closely, particularly with new developments like Zomato’s rise and key market shifts.
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