KEY HIGHLIGHTS
US Futures Higher
At 3:30 p.m., futures contract of Dow Jones rose 0.1%, that of S&P 500 rose 0.2%, and Nasdaq 100 rose 0.3%.
Economic Data Releases And Events For Dec 16
US: Empire State Manufacturing Index — 7:00 p.m.
US: Flash Manufacturing PMI — 8:15 p.m.
US: Flash Services PMI — 8:15 p.m.
Sensex, Nifty Erase Nearly Half Of Friday's Rally As Metals, Tech Shares Tumble: Market Wrap
The NSE Nifty 50 and BSE Sensex ended lower on Monday as information technology and metal stocks weighed. Infosys Ltd. and HDFC Bank Ltd. share prices were top dragger. Moreover, losses all across Asia–Pacific after mixed data from China also weighed.
The Nifty 50 ended 120.50 points or 0.49% down at 24,647.80, and the Sensex settled 384.55 points or 0.47% down at 81,748.57.
During the session, the Nifty 50 fell 0.67% to 24,601.75, and the Sensex declined 0.71% to 81,551.28.
The India NSE Volatility index jumped 11.13% to 14.51, the highest level since Dec 13.
Bharti Airtel Ltd. declined as much 1.28% to Rs 1,660.15 apiece after the Karnataka Department of Telecommunications imposed a penalty on the telecom firm.
"Indian equities commenced the week on a subdued note and correction in the select heavyweights dragged the Index lower; however, some recovery was observed from the lower levels which helped the Index to settle the trade at 24,668.25 with a loss of 100.05 points," said Aditya Gaggar, director, Progressive Shares.
Among the sectors, Realty was the top gainer by advancing over 3% followed by Media whereas Metal was the major underperformer while the IT sector witnessed a round of profit booking after a stellar rally. The interest of market participants remained in the Broader markets as Mid and Smallcaps soared over 0.60% and outperformed the Benchmark Index. The trading range of the Index is widened to 300 points i.e. 24,500-24,800 and for a directional trend breakout on either sides is necessary, Gaggar said.
Infosys Ltd., HDFC Bank Ltd., Tata Consultancy Services Ltd., Bharti Airtel Ltd., and Titan Co. Ltd. weighed.
Dr. Reddy's Laboratories Ltd., Axis Bank Ltd., IndusInd Bank Ltd., Bajaj Finance Ltd., and Power Grid Corp of India limited losses to the Nifty 50 index.
On NSE, five sectors advanced, six declined, and one remained flat out of 12. The NSE Nifty Metal declined the most, and the NSE Nifty Realty rose the most.
Broader indices outperformed. BSE Midcap ended 0.7% higher and BSE Smallcap rose 0.5%.
Thirteen of 21 sectoral indices on the BSE ended lower and eight rose. BSE Realty rose the most.
Market breadth was skewed in the favour of buyers. As many as 2,338 stocks rose, 1,802 fell, and 100 remained unchanged on the BSE.
Rupee Ends Weaker Against US Dollar
Rupee weakened by 8 paise to close at 84.87 against the US Dollar. It closed at 84.79 on Friday, according to data on Bloomberg.
Market At Close
The NSE Nifty 50 and BSE Sensex ended lower on Monday.
The NSE Nifty Metal declined the most. It ended 0.97% down at 9,347.75
The NSE Nifty Realty was the best performing sector. It ended 3.10% higher at 1,18.65.
The NSE Nifty Midcap 150 ended 0.69% higher at 21,898.80.
The NSE Nifty Smallcap 250 ended 0.44% higher at 18,344.00
Stock Market Live: NBCC Gets Multiple Construction Order Worth Rs 489.6 Crore
NBCC (India) Ltd. has received multiple construction orders worth ₹489.6 crore, according to an exchange filing.
Stock Market Live Update: IT Searches India Pesticides's Registered Office
India Pesticides Ltd. has stated that the Income Tax Department carried out a search at its registered office and other premises, with the company and its employees fully cooperating with the authorities, according to an exchange filing.
Stock Market Live: Prudential Sugar Signs With MoU With Rajasthan Govt To Invest Rs 450 Crore
Prudential Sugar Corp has entered into an Memorandum of Understanding with the Rajasthan government for a proposed investment of Rs 450 crore, according to an exchange filing.
Stock Market Today: RBL Bank Re–Appoints R Subramaniakumar As CEO
RBL Bank Ltd. has re-appointed R. Subramaniakumar as chief executive officer and managing director, effective from June 23, 2025, according to an exchange filing. Subramaniakumar got three–year extension.
Stock Market Live: India VIX Jumps Over 11%
The India NSE Volatility index jumped 11.13% to 14.51, the highest level since Dec 13. It was trading 7.11% higher at 13.94 as of 2:11 p.m., as compared to 0.39% decline in the NSE Nifty 50 index.
Most European Stocks Decline On Concerns About France & Germany
Most European stocks declined on concerns about political stability in France and Germany. Moody has cut France's credit rating, while traders await a vote of confidence on German Chancellor Olaf Scholz.
Losses on Asian shares due to mixed economic data from China also weighed on traders' sentiment.
Stock Market Today: Jindal Worldwide To Consider Bonus Share Issuance
Jindal Worldwide will consider a proposal for the bonus issue of shares on January 7, 2025, according to an exchange filing.
Most Asia–Pacific Markets End Lower
Most Asia–Pacific markets ended lower on Monday as traders assessed data from China to get insight into the health of the world's second largest economy.
China's retail sales rose 3% in November from a year ago against 4.6% estimated by analysts in a Reuters poll. Industrial production rose 5.4% on the year in the previous month against 5.3% economists estimated.
Market participants also await for the outcome of the Federal reserve, Bank of Japan, and Bank of England's policy meetings' outcomes.
Stock Market Live: Alphageo Gets Work Order Worth Rs 119 Crore
Alphageo (India) Ltd. has received a work order worth ₹119 crore from ONGC for the 2D seismic data, according to an exchange filing.
Stock Market Today: Insolation Energy Approves To Allot 45 Acres To MP Government
Insolation Energy has approved a proposal from the Madhya Pradesh government for the allotment of 45 acres of land, intended for the establishment of a manufacturing facility for solar PV modules, solar cells, and aluminum frames. The company will receive a capex subsidy of up to 40%, among other benefits, in line with its aspirations of achieving $1 billion in revenue. The proposed facility will include 3GW solar cell manufacturing, 4GW solar module manufacturing, and 24,000MT aluminum frame manufacturing, with an investment of Rs 1,800 crore planned for the new project.
Stock Market Live: Best Agrolife Gets 20–Year Patent For Synergistic Pesticidal Composition
Best Agrolife Ltd. has been granted a 20-year patent by the government for its invention titled "Synergistic Pesticidal Composition," according to an exchange filing.
Stock Market Live Updates: November Wholesale Prices Rise To 1.89% In November
November Wholesale Prices Rise 1.89% Vs 2.36% In October
November Wholesale Food Prices Rise 8.63% (YoY)
November Fuel, & Power Prices Fall 5.83% (YoY)
November Primary Article Prices Rise 5.49% (YoY)
November Manufactured Product Prices Rise 2% (YoY)
Stock Market Live: Caplin Point's Arm Gets US FDA's Nod For Eye Pain Drug
Caplin Point Laboratories Ltd.'s arm has received US Food And Drug Administration's approval for Difluprednate Ophthalmic Emulsion, according to an exchange filing.
Stock Market Today: Vikas Lifecare Signs Technology Transfer Agreement With DRDO
Vikas Lifecare Ltd. has signed a technology transfer agreement with Advanced System Laboratory, DRDO, for the development of biodegradable plastics, according to an exchange filing.
Stock Market Live Updates: Gopal Snacks Scales Up Production At Other Manufacturing Facilities
Gopal Snacks Ltd. has temporarily halted operations at its fire-hit plant. The company scaled up production at other manufacturing facilities and engaged third-party manufacturers to boost supply. As of December 16, the company has restored about 50% of its supply levels, according to an exchange filing.
Stock Market Live Updates: Oberoi Realty Share Price Hits Record High
Oberoi Realty Ltd. touched a record high of Rs 2,207.65. It was trading 3.99% higher at Rs 2,202.25 apiece as of 11:48 a.m., as compared to 0.46% decline in the NSE Nifty 50 index.
Stock Market Live Update: RMC Switchgears Share Price Hits 5% Upper Circuit
Shares of RMC Switchgears Ltd. surged by 5% on Monday following the company's announcement to set up a Rs 100 crore solar products manufacturing facility in Jaipur. The project, aimed at producing solar modules and mounting structures, will have an annual production capacity of 1 GWp (Gigawatt peak) and is expected to strengthen the company’s position in the renewable energy sector.
Stock Market Live: Royal Orchid Hotels Strengthens Religious Tourism Portfolio
Royal Orchid Hotels has strengthened its religious tourism portfolio with the launch of Regent Hotel Dwarka, according to an exchange filing.
IPO Update: Senores Pharma's Fresh Offer To Open On Dec 20
Senores Pharma's IPO is set to open on Dec 20 and close on Dec 24, according to Bloomberg.
Stock Market Live Updates: Bharat Global Developers Completes Rs 300–Crore Project For RIL
Bharat Global Developers has successfully completed the Rs 300 crore Fluidized Catalytic Cracker project for Reliance Industries, according to an exchange filing.
Stock Market Live Update: Seamec Vessels To Operate In Saudi Arabia
Seamec Ltd.'s vessel has been hired by Mermaid Subsea Services for operations in the Kingdom of Saudi Arabia for 50 days, generating $3.46 million, according to an exchange filing.
Stock Market Live: Bitcoin Hits Record High To Surge Above $106,000
Bitcoin reached an all-time high on Sunday evening, surpassing the $106,000 mark, as investors eagerly await the Federal Reserve’s anticipated interest rate decision later this week. The cryptocurrency’s rally comes just 10 days after it crossed the $100,000 threshold on Dec. 5, marking a significant milestone in its recent upward trajectory.
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Stock Market Live Updates: PC Jeweller Share Price Hits Upper Circuit Post Stock Split
Share price of PC Jeweller Ltd. hit 5% upper circuit on Monday following the company's announcement of a stock split. The stock split took effect with the ex/record date set for Dec. 16.
Stock Market Live Updates: JSW Energy Gets Multiple Renewable Energy Projects
JSW Energy Ltd. has secured multiple renewable energy projects in the Commercial & Industrial power market, achieving a total locked-in generation capacity of 20 GW.
Stock Market Update: Glenmark Pharma's US Unit Launches Seizure Drug
Glenmark Pharmaceuticals Ltd. US has introduced Lacosamide Oral Solution, 10 mg/mL, according to an exchange filing.
Stock Market Live Updates: Nifty, Sensex Open Flat; HDFC Bank, Infosys Share Prices Drag
The NSE Nifty 50 and BSE Sensex opened flat on Monday due to lack of significant cues as most investors braced themselves for central banks' policy decisions across the globe. HDFC Bank Ltd., and Infosys Ltd. share prices dragged the Nifty 50 index.
As of 09:17 a.m., the Nifty 50 was 25.00 points or 0.10% down at 24,743.30, and the Sensex was 136.46 points or 0.17% down at 81,996.66.
For positional traders, the 50-day simple–moving–average at 24,400/80,200 and 24,300/79,900 would be crucial support zones, said Shrikant Chouhan, Head Equity Research, Kotak Securities. As long as the market is trading above these levels, a bullish trend is likely to continue. On the higher side, the market could rally up to 25,000/82,000, with further upside potentially lifting the index to 25,200/82,600.
"We expect Nifty to trade between 24,450 to 25,000 for the day with a slight bullish bias. Bank Nifty was equally volatile on Friday and shot up over 1,000 points from the intraday low. We expect Bank Nifty to also trade with a bullish bias between 53,100 and 54,050," said IFA Global Research Academy.
HDFC Bank Ltd., Tata Consultancy Services Ltd., Infosys Ltd., Mahindra & Mahindra Ltd., and Kotak Mahindra Bank Ltd. weighed on the Nifty 50 index.
Reliance Industries Ltd., ITC Ltd., Bharti Airtel Ltd., ICICI Bank Ltd., and Shriram Finance Ltd. added to the Nifty 50 index.
On NSE, five sectors advanced, four declined, and three remained flat out of 12. The NSE Nifty Realty rose the most, and the NSE Nifty Finance declined the most.
Broader markets outperformed benchmark indices. The BSE Midcap and Smallcap indices were trading 0.48% and 0.69% higher, respectively.
On BSE, 14 sectors advanced, seven declined out of 21. The BSE Realty rose the most, and the BSE Focused IT declined the most.
Market breadth was skewed in favour of buyers. Around 2,212 stocks advanced, 769 stocks declined, and 164 stocks remained unchanged on BSE.
Yield On The 10-Year Bond Opens Flat
The yield on the 10-year bond opened flat at 6.73%. It closed at 6.73% on Friday, according to data Bloomberg.
Stock Market Live: Nifty, Sensex Lower At Pre–Open
At pre–open, the NSE Nifty 50 was trading 0.04% down at 24,753.40, and the BSE Sensex was 0.16% down at 82,000.31.
Rupee Opens Weaker Against US Dollar
Rupee weakened by 4 paise to open at 84.83 against the US Dollar. It closed at 84.79 on Friday, according to data on Bloomberg.
Stock Market Today: Nomura On India Cement
Nomura on India Cement: Prefers Ultratech Cement, Shree Cement, Ambuja Cement & Ramco Cement (All Rated Buy)
Average Q3FY25 cement spreads rise to Rs 2447/tonne amid flat prices & lower fuel costs
Expect industry to keep reaping benefits of the low-cost fuel in H2FY25
Cement prices in Dec so far up Rs 5/bag MoM; prices in Q3 up by Rs 2/bag
Brokerage bullish on long term tailwinds despite recent correction in stocks
Key tailwinds for sector: Higher volume growth, lower operating costs
Sector trades at only 14% premium to year 3 year historical avg valuations
Neutral rating maintained on Nuvoco Vistas Corp, ACC, Reduce rating on Dalmia Bharat
Stock Market Live Update: Axis Capital On Swiggy
Initiates Buy with a target price of Rs 640, which implied a 20% upside.
Presents a compelling investment opportunity
Believes q-com market Gross order value to touch $6.8 billion FY25E
Pickup in quick food delivery through ‘Bolt’ would be a further kicker
Profitability sees improvement; quick fixes should aid margin expansion
Expects a 38% revenue CAGR (FY24-27E)
Stock Market Live: Citi Research On HCLTech
Maintain Neutral, Target: Rs 1,815, downside 7.8%
Hosted Nitin Mohta, Head IR
80% of HCLT’s US workforce is visa-independent
HPE CTG acquisition is focused on expanding its telecom client base
Focus is to improve the revenue growth from low single-digit to mid-to-high single-digit growth
Near term, HCLT expects low single digit revenue growth yoy trajectory to continue, in Products segment.
Stock Market Today: Citi On Tech Mahindra
Maintain Sell, Target: Rs 1,475, downside 18.1%
Hosted Atul Soneja, COO
Tech Mahindra Ltd. aims to improve margins to 15%, primarily through gross margin improvement
Key margin levers are – pyramid improvement, pricing optimization
Other levers include reducing subcontracting costs, improving utilization rates
Stock Market Live Updates: Citi Research On TCS
Maintain Sell, Target: Rs 3,935, downside 12.1%
Hosted Nehal Shah, Head IR
Optimism has increased after the US elections, with clients expressing positive sentiment
However, actual execution is on hold pending policy clarity
Estimate TCS’s earnings will grow at an ~5.5% CAGR in FY24-26E
Cost optimization efforts have helped deliver relative good margin performance.
Most Asian Stocks Decline
Most markets in Asia–Pacific were trading lower as traders await data from China and prepare for outcome of the central banks' policy decisions due this week.
The S&P ASX 200 and KOSPI were trading 0.34% and 0.05% down, respectively. The Nikkei 225 was 0.11% higher.
US Stocks End Friday On Mixed Note
On Friday, stock gauges on Wall Street ended on a mixed note. The Dow Jones Industrial Average ended 0.20%, and S&P 500 ended flat. The Nasdaq Composite ended 0.12% higher.
GIFT Nifty Above 24,700; Bharat Forge, HG Infra, Lupin, Paytm Share Prices In Focus
The GIFT Nifty was trading above 24,700 in early trade Monday. Bharat Forge Ltd., H.G. Infra Engineering Ltd., Lupin Ltd., and One 97 Communications Ltd. share prices may react due to news flow over the weekend.
The GIFT Nifty was trading 0.13% or 31.50 points higher at 24,788.50 as of 6:38 a.m.
The benchmark equity indices recorded a fourth straight week of gains as they ended higher after a volatile trading session on Friday.
The NSE Nifty 50 ended 219.60 points or 0.89% higher at 24,768.30, and the BSE Sensex closed 843.16 points or 1.04% up at 82,133.12.
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