KEY HIGHLIGHTS
US Futures Slightly Down
As of 3:26 p.m., futures of Dow Jones Industrial Average and S&P 500 futures declined 0.03% and 0.07%, respectively and those of Nasdaq 100 was 0.11% down.
Economic Data, Events Later Monday
UK: MPC Member Ramsden Speaks
US: Final Wholesale Inventories month-on-month
Nifty, Sensex Fall For Second Session As RIL, FMCG Stocks Drag: Closing Bell
Benchmark equity indices ended the first session of the week on a subdued note as heavyweight Reliance along with FMCG stocks dragged them the most.
Sentiment in FMCG stocks was impacted after Godrej Consumer Products Ltd. flagged the continued slowdown in demand. The sector contributed 39 points to Nifty's decline.
Intraday, both Nifty and Sensex had fallen 0.4% each. Nifty ended 0.24% or 58.80 points down at 24619 and Sensex closed 0.25% or 200.66 points lower at 81508.46.
Investors tracked various global events including comments from China's Politburo, country's change in monetary policy stance, political scenario in South Korea, and geopolitical tensions in the middle east over the weekend.
"With a Gravestone DOJI candlestick pattern, the Index has witnessed a much-needed pullback," said Aditya Gaggar, director of Progressive Shares. "The undertone of the market is bullish and the rally towards 25,400 will continue with the downside being protected at 24,540 while the immediate hurdle is placed at 24,850."
Shares of Reliance Industries Ltd., Hindustan Unilever Ltd., ITC Ltd., Axis Bank Ltd., and ICICI Bank Ltd. weighed on Nifty the most. While those of Larsen & Toubro Ltd., HDFC Bank Ltd., Bharti Airtel Ltd., Infosys Ltd., and Kotak Mahindra Bank Ltd. minimised the fall.
Most sectoral indices declined with Nifty FMCG falling the most.
Market breadth was skewed in favour of buyers. Around 2,304 stocks advanced, 1,771 stocks declined, and 165 stocks remained unchanged on BSE.
Broader markets advanced. The BSE Midcap and Smallcap indices ended 0.32% and 0.46% higher, respectively.
On BSE, 14 sectors advanced, seven declined out of 21. The BSE Industrials advanced the most, and the BSE FMCG declined the most.
Markets At Close
Nifty and Sensex end lower for second session
Intraday, both Nifty and Sensex had fallen 0.4% each
Nifty ends 0.24% or 58.80 points down at 24619
Sensex ends 0.25% or 200.66 points lower at 81508.46
Broader indices outperformed. Nifty Midcap 100 ended 0.5% up; Nifty Smallcap 250 closed 0.4% higher
Most sectoral indices fell with Nifty FMCG falling the most
Wipro and L&T were top Nifty gainers
Tata Consumer and HUL fell the most
Rupee Ends Weaker Against US Dollar
Rupee weakened by 3 paise to close at 84.73 against the US Dollar.
It closed at 84.70 on Friday.
Source: Bloomberg
Supriya Life Expands Global Footprint
Supriya Lifesciences has expanded its global footprint with Esketamine Hydrochloride approval, Atorvastatin patent filing, an exchange filing said.
FMCG Stocks Tank After Godrej Consumer Flags Q3 Slowdown; HUL, Marico, Dabur Share Prices Fell
Stocks of fast-moving consumer good companies tanked on Monday after Godrej Consumer Products Ltd., a key industry player, flagged the continued slowdown in demand which could affect the performance in the October-December quarter.
Share Market Update: Zaggle Prepaid Shares Jump On Pact With HDFC Bank
Zaggle Prepaid share price jumped after an exchange filing by the company said it has entered into a pact with HDFC Bank. HDFC credit cards will be bundled with Zaggle Software to be offered to corporate customers across industries.
Stock Market Live: Trident Share Price Jumps 11%
Trident Ltd.'s stock witnessed a 10% rise intraday following Chairman Rajinder Gupta's announcement of fresh investment plans of an additional Rs 3,000 crore in Madhya Pradesh's textile sector while speaking at the Invest Madhya Pradesh: Regional Industry Conclave in Narmadapur
Share Market News: Lloyds Metals To Enter Into Mines Development And Operations Business
Lloyds Metals will enter into mines development and operations business, an exchange filing said adding that its business will involve exploration, development & operation of mines for extraction of minerals.
Europe Market Open: Indices Higher Amid Geopolitical Tensions
European markets opened higher amid geo political tensions in the middle east. France CAC 40 rose the most by 0.8%, followed by pan-European Euro Stoxx 50, and UK's FTSE 100.
Asia Market Update: Hang Seng Surges 3% After Politburo Pledges; Kospi Ends Nearly 3% Down
Most indices in the Asia-Pacific region were higher at 1:55 p.m. after China's Politburo pledged the country's fiscal policy to be more proactive next year and as the country shifted monetary policy stance for first time since 2011. South Korea's Kospi ended nearly 3% lower after President Yoon Suk Yeol survived an impeachment vote over the weekend. In Japan, Nikkei ended 0.2% lower and Australia's ASX 200 ended flat.
Asia Market News: China Eases Monetary Policy Stance for First Time Since 2011
China’s top leaders changed their stance on monetary policy for the first time in some 14 years, as policymakers gird themselves for a second trade war when Donald Trump returns to the White House next month, according to Bloomberg.
Share Market News: Navin Fluorine Unit Commences Dahej Plant
An exchange filing said that the plant for manufacture and supply of a key fluoro specialty chemicalset up by the Company’s wholly owned subsidiary, Navin Fluorine Advanced Sciences Limited, in Dahej, Gujarat, has commenced commercial operations with dispatch of the first commercial lot to the customer today.
Shyam Metalics November Business Update (YoY)
Speciality Alloys Sales Volumes up 43% At 16,243 MT
Aluminium Foil Sales Volumes up 30% At 2,018 MT
Stainless Steel Sales Volumes up 51% At 6,064 MT
Source: Exchange Filing
Adani Krishnapatnam Port Gets Government Nod For Petroleum Import By Sea: Stock Market News
The Ministry of Ports, Shipping, and Waterways has allowed Adani Krishnapatnam Port Ltd. to import petroleum into India by sea, the government said in a notification on Friday.
In consideration of the necessity to import petroleum in public interest, the government extended a notification to Krishnapatnam port, which is located in Andhra Pradesh.
Share Market News: Unrelenting AC Demand Makes Morgan Stanley Bullish On These Two Stocks
Air conditioner demand in India remains robust, driven by rising temperatures, delayed winter in the northern regions, and extensive usage, according to Morgan Stanley. The brokerage suggests a promising outlook for the Indian AC market, especially Voltas Ltd. and Blue Star Ltd. in the coming months.
Stock Market News: NHAI Struggles To Secure Land For 42 Road Projects Worth Rs 40,000 Crore
In a setback to the government's infrastructure development plans, more than 42 road projects worth over Rs 40,000 crore are stuck due to the National Highways Authority of India's inability to secure land for the projects.
Share Market News: Indian Pharma Market Grew 9.9% In November Driven By New Launches, Price Rise
The Indian pharmaceutical market delivered a growth of 9.9% year-on-year in November 2024, against average growth of 6.0% year-on-year in the July-October period (up 2.9% YoY in November 2023). Overall growth in the month was driven by growth in price and new launches.
Share Market News: Hyundai Motor To Install Nearly 600 Fast Public EV Charger
Hyundai Motor India in an exchange filing said that it aims to set up nearly 600 public EV fast charging stations across the country in the next 7 years. The company will have a network of 50 fast public charging stations by the end of December 2024.
Servotech Power Share Price Surges On Partnership With LESS2
Servotech Power Systems Ltd. share price surges after company announced that it has entered into a strategic partnership with LESSzwei GmbH (LESS2), a globally acting German enterprise that supports the German Government in achieving its objectives in the field of sustainable development in the infrastructure sector, to develop and deploy innovative 100% solar-powered EV charging infrastructure for micromobility, such as e-bikes, e-scooters, and e-cargo bikes in urban areas of Germany.
Stock Market Live: India Equities To See More Pressure As Central Bank Trims Growth Forecast
Indian bulls and mom-and-pop investors are poised for renewed pressures amid a recovery from the biggest correction in recent times as the Reserve Bank of India slashed its growth forecast for the year.
After a growth shocker in the second quarter of the current financial year, Governor Shaktikanta Das trimmed the GDP growth forecast for the full financial year to 6.6% from 7.2% estimate previously.
Sun Pharma Sales May Hit $100 Million After Acquisition Of Philogen's Cancer Treatment Assets: Jefferies
Sun Pharmaceutical Industries Ltd. and Philogen may see up to combined sales peak of $100 million, said Jefferies. The brokerage came up with the estimate after analysing Sun Pharmaceutical Industries' latest acquisition specialty assets for treatment of cancer.
Share Market Update: FMCG Stocks Top Nifty Losers
Shares of FMCG companies emerged as top losers in the Nifty 50 on Monday with those of Tata Consumer and HUL falling nearly 4% and Nestle trading over 2% lower as of 11:03 a.m.
Stock Market Live: Nifty FMCG Falls Over 2%; Varun Beverages, Radico Khaitan Only Gainers Of Index
Nifty FMCG fell more than 2% on Monday, the most among sectoral indices with Varun Beverages and Radico Khaitan being the only gainers as most stocks fell. Godrej Consumer fell the most among index constituents.
Your F&O Trades Might Be Stuck If You Don't Do This One Thing
Due to the newly-introduced measures undertaken by market regulator Securities and Exchange Board of India, the new index option contracts have seen a revision in lot sizes. Market participants, who have open positions on contracts drawn up before the new rules came into effect, may not be allowed to close them until the respective date of expiry, from Dec. 24 onwards.
Read more here.
Ceat Share Price Hits Life High With Michelin Deal Expected To Spur Global Presence, Margins
Ceat Ltd. share price surged almost 9% to a fresh life high in early trade on Monday. The surge followed brokerages' forecasts of improvement in the company's market share after it acquires Camso's off-highway construction equipment tyre and tracks business from the Michelin Group for $225 million.
Share Market Update: PN Gadgil Share Price Hits Over Two-Month High After Motilal Oswal Initiates Coverage
A Motilal Oswal report said, "We initiate coverage on P N Gadgil Jewellers Ltd. with a Buy rating and a target price of Rs 950 (based on 35 times Dec’26E P/E)."
It added that the successful execution of store rollouts, gold hedging policy, and an improvement in operating margin will be the key catalysts for re-rating of the stock.
Stock Market Live: Godrej Consumer Falls 10%
Shares of Godrej Consumer Products Ltd. slumped nearly 10% in early trade on Monday, as mixed brokerage views and concerns over demand pressures weighed heavily on investor sentiment.
Share Market News: Paytm Share Price Hits Highest Since Jan 20, 2022
Shares of One97 Communications Ltd., the parent company of Paytm, saw an uptick of 3.15% following the announcement of its plan to sell a 5.4% stake in Japan's digital payments giant PayPay Corp. The sale, valued at approximately $280 million (or Rs 2,364 crore), is to be executed in partnership with investor SoftBank.
Vodafone Share Price Trades Higher Ahead Of Board Meet To Consider Fund Raise
Vodafone Idea share price traded higher ahead of its board meeting to consider and approve proposal for issuance of equity shares and / or convertible securities on a preferential basis for an amount not exceeding Rs. 2000 crore.
Stock Market Live: Adani Group Stocks Rise As Nomura Sees It Most Attractive Among India Inc
Most stocks of Adani group of companies rose on Monday after Nomura said it's the most attractive among India Inc. The market–cap of Adani companies rose Rs 1,662. 6 crore to Rs 13.59 lakh crore as of 09:23 a.m.
Nifty, Sensex Open Lower As HUL, ICICI Bank Drag: Opening Bell
Benchmark equity indices extended their fall for a second consecutive session as share prices of Hindustan Unilever and ICICI Bank dragged.
At pre-open, Nifty 50 was at 24633.90, down 0.18% or 43.90 points Sensex was at 81602.45, down 0.13% or 106.67 points.
"Technically, despite the Nifty50 index having reclaimed a pivotal resistance level near 24540 and the 50-Day moving average in the previous week, especially the extended nature of broader indices over the past two weeks and mild overbought conditions present within the shorter-term trend indicates that a modest pullback or consolidation phase may be warranted to consolidate bullish momentum," said Ameya Ranadive Chartered, senior technical analyst at StoxBox. "The behaviour of the Nifty50 in the zone of 24790-25000 remains critical to monitor, as this area serves as a neckline for an inverted head and shoulders pattern that emerged in late October."
Share prices of Hindustan Unilever Ltd., ICICI Bank Ltd., Infosys Ltd., Mahindra & Mahindra Ltd., and Reliance Industries Ltd. dragged the Nifty. While those of HDFC Bank Ltd., Larsen & Toubro Ltd., Bajaj Finance Ltd., NTPC Ltd., and Bharti Airtel Ltd. minimised the fall.
Most sectoral indices fell with Nifty FMCG falling the most. Nifty Realty, Nifty Finance, and Nifty Energy rose while Nifty PSU Bank and Nifty Oil & Gas traded flat.
Share Market News: Retail Car Sales Declined In November 2024
Retail car sales declined in November 2024 in the aftermath of a month-long festive season, even as inventory eases by 10 days.
- 2W sales up 15.80% at 26,15,953 units
- 3W sales up 4.83% at 1,08,337 units
- 4W sales down 13.72% at 3,21,943 units
Retail sales is measured as number of vehicle registrations on the government’s VAHAN website.
Source: FADA
Stock Market Live: Nifty, Sensex Lower At Pre-Open; Paytm, Godrej Consumer, JSW Energy In Focus
At pre-open, Nifty 50 was at 24633.90, down 0.18% or 43.90 points Sensex was at 81602.45, down 0.13% or 106.67 points. "At current prices, the nifty is facing resistance from the 50- and 100-day moving averages and an Ichimoku hurdle, so the 24800 - 24900 area is formidable," said Akshay Chinchalkar, head of research at Axis Securities. "Supports lie at 24,445 and 24,360. "
Yield On The 10-Year Bond Opens Flat
The yield on the 10-year bond opened flat at 6.73%.
It closed at 6.74% on Friday.
Source: Bloomberg
Rupee Opens Stronger Against US Dollar
Rupee Strengthened 4 paise to open at 84.66 against the dollar.
It closed at 84.70 on Friday.
Source: Bloomberg
Stock Market Update: Emkay Initiates 'Buy' On GHCL, Sees 35% Upside
Emkay Global Financial Services has initiated coverage on GHCL Ltd. with a 'buy' recommendation and a target price of Rs 900 by Dec. 2025, implying an upside of nearly 35% from its current market price of Rs 667.2, as of Dec. 6, 2024.
Five Stocks To Buy Today: Zomato, IndiGo, Jindal Stainless, Ashoka Buildcon And RailTel
Analysts have buy calls on shares of Zomato Ltd., InterGlobe Aviation Ltd., Jindal Stainless Ltd., Ashoka Buildcon Ltd. and RailTel Corp of India Ltd.
The stock calls came from Sneha Seth, a senior analyst at Angel One, Shivangi Sarda, an equity, derivatives and technical analyst at Motilal Oswal Financial Services and Vinay Rajani, a senior technical and derivative research analyst at HDFC Securities.
Share Market News: Emkay Downgrades Godrej Consumer To 'Reduce'
Emkay has downgraded Godrej Consumer to 'Reduce' from 'Add' with target of Rs 1,225. It has also cut earnings estimates by 4-7% to factor in demand as well as inflationary stress. The brokerage sees low-single digit consolidated revenue growth and low-double digit decline in EBITDA.
Asia Market Open: Indices Mixed After Japan GDP, China Nov Inflation
Asian indices were mixed in the early trade after revision in Japan's third quarter GDP and lower than expected growth in China November consumer price. Lawmakers in South Korea has filed a motion to impeach President Yoon Suk Yeol, which was scrapped due to lack of required votes. Another impeachment motion can now be called after Dec. 11.
At 7:51 a.m., Australia's ASX 200 was 0.1% down, Japan's Nikkei rose 0.4%, Hong Kong's Hang Seng was 0.2% down and South Korea's Kospi fell over 1.6%.
US Market Close: S&P 500, Nasdaq Close At New Records
S&P 500 and Nasdaq Composite recorded their highest closing Friday while Dow Jones fell after the country reported strong than expected growth in November jobs. At close on Friday, S&P 500 was up 0.25% at 6,090.27, Dow Jones down 0.28% at 44,642.52, and Nasdaq Composite up 0.81% at 19,859.77.
GIFT Nifty Trades Above 24,700; Paytm, Gordrej Consumer, JSW Energy In Focus
GIFT Nifty was trading at 24,734.00, up 10 points, as of 7:18 a.m on Monday. Going into trade today, share prices of Paytm parent One97 Communications Ltd., Godrej Consumer Ltd., JSW Energy Ltd. will remain in focus due to newsflow.
The NSE Nifty 50 and BSE Sensex ended Friday's session with marginal loss as HDFC Bank Ltd. and Reliance Industries Ltd.'s share prices dragged.
The Nifty ended 30.62 points or 0.12% down at 24,677.80, and the Sensex ended 56.74 points or 0.07% down at 81,709.12.
The indices fell sharply after the Reserve Bank of India kept the repo rate unchanged at 6.5% and maintained a neutral stance. The central bank reduced the GDP forecast for the current financial year, while it increased the projection for inflation.
The Nifty posted the best gains on a weekly basis since June 7. It has risen 2.27% in the week ended on Dec. 6. The Sensex gained 2.39% in the week ended on Dec. 6.
Overseas investors turned net sellers of Indian equities on Friday after three straight days of buying, while domestic institutional investors turned net buyers after three consecutive days of selling.
Foreign portfolio investors sold stocks worth Rs 1,830.3 crore, the highest amount sold by the FPIs so far this month. The DIIs bought stocks worth Rs 1,659.1 crore, according to provisional NSE data.
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