Business News Highlights: Stock Market Closes In Green; Sensex Jumps 2,303 Points, Nifty At 22,620

In a surprising turn of events, the stock market closed in the green today, with the Sensex jumping a whopping 2,303 points and the Nifty reaching a high of 22,620.30. This significant surge came after a tumultuous day of trading on Tuesday, where the market experienced a bloodbath following the unexpected election results.

The positive momentum was driven by various factors, including the announcement by Cisco Investments of a $1 billion global AI investment fund. This initiative aims to advance secure and dependable AI solutions, with investments already earmarked for companies like Cohere, Mistral AI, and Scale AI.

In another development, Testsigma secured $8.2 million in funding to propel its GenAI vertical growth. This funding round, led by MassMutual Ventures, will enable Testsigma to expand its generative AI capabilities and accelerate ongoing projects in this space.

On the government front, SEBI proposed doubling the limit for basic service demat accounts to Rs 10 lakh, aiming to encourage greater retail investor participation in the securities market. Additionally, the government launched a program to empower MSMEs and startups with Industry 4.0 technologies, aligning them for the upcoming introduction of 5G and 6G technologies.

In the corporate sector, Kotak Bank received RBI approval to sell a 70% stake in its insurance arm, while Maruti Suzuki announced a Rs 450 crore investment in renewable energy initiatives. Air India also revealed plans to retrofit over 100 planes as part of its revamp strategy.

Overall, the market sentiment was positive, with investors regaining confidence and driving the indices to close on a high note. The rebound in the stock market today signals a potential shift in momentum and sets the stage for further growth and stability in the coming days.