KEY HIGHLIGHTS
US Futures Rise
As of 3:36 p.m., the Dow Jones Industrial Average and S&P 500 ended 0.17% and 0.25% higher, respectively. The Nasdaq 100 future was 0.30% higher.
Stock Market Highlights: Sensex, Nifty End Extend Rally For Ninth Consecutive Year
The NSE Nifty 50 and BSE Sensex rose for nine years in a row, recording the best yearly winning streak since their inception despite sharp losses in last three to four months of 2024. The Nifty 50 rose 8.80% and the Sensex rose 8.17% in the calendar year 2024.
Trent Ltd. and Mahindra & Mahindra Ltd. are the best performer in the Nifty 50 index. Trent rose 133.17%, and Mahindra & Mahindra Ltd. rose 73.86%
The benchmark indices ended on a muted on Tuesday. Infosys Ltd., and ICICI Bank Ltd. share prices dragged.
The Nifty 50 declined as much as 0.78% to the day's low of 23,460.45, and the Sensex fell 0.88% to the day's low 77,560.79.
"Today's market action exhibited a V-shaped recovery, with a subdued opening followed by a sharp decline led by weakness in the Mid and Smallcap stocks," said Aditya Gaggar, director, Progressive Shares. However, a strong recovery across sectors helped the Index close the session at 23,644.80. Notably, the Energy and Pharma sectors were the top gainers, while IT faced the steepest decline, down over 1%, followed by weakness in Realty stocks. The broader markets saw a mixed performance. While Midcaps recovered alongside the Frontline Index, Smallcaps outperformed, highlighting some disparity in market strength. A Spinning Top candlestick pattern appeared on the chart, suggesting indecisiveness but also raising the possibility of a positive divergence in the RSI, which could signal a change in momentum. In terms of technical levels, the immediate resistance is seen at 23,700, and a confirmation of trend reversal would see the next resistance level at 23,880. On the downside, 23,470 remains a key support level, Gaggar said.
Infosys Ltd., ICICI Bank Ltd., Tata Consultancy Services Ltd., HDFC Bank Ltd., and Tech Mahindra Ltd. share prices dragged the Nifty 50 index.
ITC Ltd., Kotak Mahindra Bank Ltd., Trent Ltd., Larsen & Toubro Ltd., and Bharat Electronics Ltd. added to the Nifty 50 index.
On NSE, seven sectors advanced, five declined out of 12. The NSE Nifty Oil & Gas rose the most, and the NSE Nifty IT declined the most.
The broader markets outperformed in comparison to benchmark Sensex. BSE MidCap 0.13% higher, whereas the Smallcap ended with gains of 0.71%.
On BSE, 16 sectors advanced, and five declined out of 21. The BSE Focused IT declined the most, and the BSE Capital Goods rose the most.
Market breadth was skewed in favour of buyers. Around 2,323 stocks advanced, and 1,647 stocks declined, and 109 stocks remained unchanged on BSE.
Stock Market Today: Rupee Closes Weaker Against Dollar
Rupee weakened by seven paise to close at 85.61 against the US dollar. It closed at 85.54 on Monday, according to data on Bloomberg.
Market At Close
The NSE Nifty 50 and BSE Sensex rose for nine years in a row.
The Nifty 50 logged over 8.80% gain compared to 20.03% gain in calendar year 2023.
Trent Ltd. and Mahindra & Mahindra Ltd. share prices are the top gainer in the Nifty 50 index.
The Indian benchmarks ended Tuesday's session on a muted note.
The NSE Nifty Midcap 150 ended 0.15% higher.
The NSE Nifty Smallcap 250 0.65% higher.
Stock Market Live Updates: ITD Cementation Gets Order Worth Rs 1,648 Crore
ITD Cementation India Ltd. has received an order worth Rs 1,648 crore for the construction of shore protection for the Greenfield Vadhvan Port in Maharashtra, according to an exchange filing.
Stock Market Live Updates: Suzlon Energy Gets Favourable Ruling From Income Tax Appellate Tribunal
Suzlon Energy Ltd. has received a favorable ruling from the Income Tax Appellate Tribunal against a Rs 87.6 crore penalty. The company had previously received the penalty order from the Income Tax Department for FY15-16, and as a result, the total penalty of Rs 260 crore levied for financial year 15-16 and FY16-17 has been cancelled, according to an exchange filing.
Europe Market Update: Markets Trade On Mixed Note
Most European markets were trading on a mixed note in the last session of 2024 without major trigger. Markets in Germany, Switzerland, and Italy are closed on Tuesday.
The Euro Stoxx 50 was up 0.02% up, and FTSE 100 was 0.02% down as of 1:54 p.m. The IBEX 35 was 0.15% higher.
Asia Market Update: Most Stocks End Lower As China Factory Data Disappoints
Most share indices in the Asia-Pacific region ended lower in the last trading session of 2024 as China's disappointing factory data fanned concerns about the economic revival.
The CSI 300 and S&P ASX 200 ended 1.60% and 0.92% down, respectively. The Hang Seng ended 0.09% higher.
Stock Market Live Updates: Venus Remedies Gets GMP Certification From Moldova
Venus Remedies Ltd. has received GMP certification from Moldova for its antibiotic-carbapenem facility, according to an exchange filing.
Stock Market Live Updates: Ramco Cements In Agreement To Sell Land Worth For Rs 68 Crore
The Ramco Cements Ltd. has executed a sale agreement for the disposal of land for a consideration of Rs 68 crore, according to an exchange filing.
Stock Market Today: Waaree Renewable Gets Order For 2 Gigawatt Solar Project In Rajasthan
Waaree Renewable Technologies Ltd. has received an order for a 2 gigawatt solar project in Rajasthan from an special purpose vehicle of Jindal Renewables, according to a press release.
IPO Update: Indo Farm Equipment Subscribed Fully On Day 1
The IPO has been subscribed 6.98 times as of 12:33 p.m. on Tuesday.
Qualified institutional buyers: 0.02 times.
Non-institutional investors: 9.28 times.
Retail investors: 9.98 times.
Stock Market Live Updates: RVNL Emerges Lowest Bidder For A Project
Rail Vikas Nigam Ltd. has emerged as the lowest bidder for a project worth Rs 404 crore from East Coast Railway, according to an exchange filing.
Easy Trip Planners Share Price Plunges After Equity Trade Via Block Deal
Shares of Easy Trip Planners Ltd., the parent company of online travel aggregator EaseMyTrip, fell by as much as 10% on Tuesday after 28.2 lakh shares (2.4% of equity) changed hands in 28 block trades on the NSE, according to a Bloomberg report.
Nomura Keeps 'Buy' On JSW Energy
Nomura kept a 'Buy' with a target price Rs 885, which implied a 38% upside.
Company signed a definitive agreement to acquire O2 Power for INR125bn
Portfolio consists of an overall locked-in capacity of 4.7 GW of renewable energy
Acquisition at attractive valuations of 7.1x/8.3x EV/EBITDA
Blended tariff for the portfolio of 4.7GW is INR3.37/unit, above industry avg
Expect the co to derive an equity IRR of 17%
Stock Market Today: KPI Green Energy Gets Order Worth Rs 166 Crore
KP Green Energy Ltd. has received multiple orders worth Rs 166 crore, according to an exchange filing.
IPO Updates: Unimech Aerospace Shares List At 90% Premium Over Issue Price
Shares of Unimech Aerospace And Manufacturing Ltd. debuted on the BSE at Rs 1,491 per share, marking a premium of 89.94% over the issue price of Rs 785. The stock listed on the National Stock Exchange at Rs 1,460 apiece, at a premium of 85.99%.
Stock Market Live Updates: Mazagon Dock Shipbuilders Share Price Rises
Mazagon Dock Shipbuilders Ltd. share price rebounded from two-day decline briefly in the last session of 2024. The share price recouped losses as Mazagon Dock Shipbuilders signed a contract worth Rs 1,990 crore.
However, Mazagon Dock Shipbuilders share price erased opening gains to trade 1.32% down at Rs 2,239.05 apiece as of 9:52 a.m., as compared to 0.60% decline in the NSE Nifty 50 index.
Stock Market Today: Lupin Share Price Hits Record High As It Will Acquire Huminsulin From Eli Lily
Lupin Ltd. share price rose to record high as the company announced it will acquire Huminsulin from Eli Lily company to enhance its diabetes portfolio.
Stock Market Open: Nifty, Sensex Open Lower As Infosys, ICICI Bank Share Prices Drag
The NSE Nifty 50 and BSE Sensex opened lower on Tuesday tracking losses on Infosys Ltd. and ICICI Bank Ltd. share prices. As of 9:19 a.m., the Nifty 50 was 85.65 points or 0.36% down at 23,559.25, and the Sensex 407.11 points or 0.52% down at 77,841.02.
Infosys Ltd., Tata Consultancy Services Ltd., ICICI Bank Ltd., HDFC Bank Ltd., and HLCTech Ltd. weighed on the Nifty 50 index.
State Bank of India, Oil and Natural Gas Corp, ITC Ltd., Bharat Electronics Ltd., and Coal India Ltd. added to the Nifty 50 index.
On NSE, six sectors declined, five advanced, and one remained unchanged during open. The NSE Nifty IT declined the most, and the NSE Nifty Energy rose the most.
The BSE Midcap and Smallcap indices were trading 0.52% and 0.35% down, respectively.
On BSE, 16 sectors declined, and five advanced out of 21. The BSE Focused IT declined the most, and the BSE Metal rose the most.
Market breadth was slightly skewed towards sellers. Around 1,598 stocks declined, 1,226 stocks advanced, and 135 stocks remained unchanged on BSE.
Stock Market Today: Nifty, Sensex Trade Lower At Pre-Open
At pre-open, the NSE Nifty 50 was 0.36% down at 23,560.60, and the BSE Sensex was 0.34% down at 77,983.57.
Stock Market Live: Yield On The 10-Year Bond Opens Flat
The yield on the 10-year bond opened flat at 6.76%. It closed at 6.77% on Monday, according to Bloomberg.
Stock Market Live: Rupee Opens Weaker Against US Dollar
Rupee weakened by 5 paise to open at 85.59 against the US Dollar. It closed at 85.54 on Monday, according to data on Bloomberg.
Stock Market Today: HSBC On India Power
Power demand growth turned positive in Nov- Dec after declining annually in Aug-Oct
India's 11M CY24 power demand normalized at 4.9%
Energy storage is becoming even more essential in the sector
2.3GW of renewable capacity added in Nov, 28 GW in 11M CY24
No thermal capacity commissioned since Feb'24; multiple plants near completion
Stock Market Live Updates: Mumbai Metro One's Loan Exposure Aissigned To National ARC
Reliance Infrastructure Ltd. announced in an exchange filing that the joint venture Mumbai Metro One's rupee loan exposure has been assigned to National ARC by domestic lenders.
Stock Market Today: JPMorgan On Adani Wilmar
Rates underweight with a target price of Rs. 320
Adani Enterprises Ltd. to fully exit the JV, Wilmar to increase ownership to 75%
Divestment of 13% share in Adani Wilmar to achieve compliance with divestment of 13% share
Lence Pte ltd (WOS of Adani Wilmar entered into agreement with Adani commodities to acquire 31.06% stake in Adani Wilmar
Option price to be mutually agreed upon by the parties, subject to maximum price of Rs. 305
Adani Wilmar would acquire stake for Rs. 12,300 crore
Asia Markets Update: Markets In China Decline As Manufacturing Activities Slow
Markets in China were trading lower in the last trading day of 2024 after data showed manufacturing activity did not expand in December. The purchasing manager's index came in at 50.1, compared to 50.3 in November. Analysts expected the PMI to stay same at the November level.
The CSI 300 and Shanghai Composite indices were trading 0.29% and 0.18% down, respectively.
Markets in Japan and South Korea are closed on Tuesday.
US Market Update: Benchmarks Extend Losses As Treasuries Rise
US benchmark indices extended losses to a third session as technology stocks continued to weigh after the Federal Reserve reduced rate cut projection for 2025. Moreover, treasuries rallied on Monday, which also weighed on the indices, Bloomberg reported.
On Monday, the Dow Jones Industrial Average and S&P 500 ended 0.97% and 1.07% down, respectively. The Nasdaq Composite ended 1.19% down.
GIFT Nifty Above 23,600; RVNL, Mazagon Dock, Wipro Share Prices In Focus
The GIFT Nifty was trading above 23,600 in early morning on Tuesday. Rail Vikas Nigam Ltd., Mazagon Dock Shipbuilders Ltd., and Wipro Ltd. share prices may react in Tuesday's session.
The GIFT Nifty was trading 0.20% or 46.50 points down at 23,656.50, as of 7:11 a.m.
The benchmark equity indices eroded early gains in the last leg of the trade to end lower on Monday as HDFC Bank Ltd. and ICICI Bank Ltd. led the losses. Broad-based weakness across Asia and Europe also put pressure on the indices.
The NSE Nifty 50 closed 168.50 points or 0.71% down at 23,644.90 and the BSE Sensex ended 450.94 points or 0.57% lower at 78,248.13.
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