KEY HIGHLIGHTS
Most US Futures Rise
As of 3:38 p.m., the S&P 500 and Nasdaq Futures rose 0.14% and 0.21% higher, respectively. The Dow Jones Industrial Average futures rose 0.03% higher.
Stock Market Highlights: Nifty, Sensex End Christmas Eve Lower As Infosys, SBI Share Prices Drag
The NSE Nifty 50 and BSE Sensex erased all gains to the Christmas eve lower as Infosys Ltd. and State Bank of India share prices dragged. The benchmark also resumed declining trajectory after one-day rise.
The Nifty 50 ended 25.80 points or 0.11% down at 23,727.65, and the Sensex settled 67.30 points or 0.1% down at 78,472.87.
The Nifty 50 rose 0.48% to the day's high of 23,867.65, while the Sensex rose 0.43% to the day's high of 78,877.36.
During the last leg of the trade, the Nifty 50 fell 0.18% to the day's low of 23,709.65, and the Sensex declined 0.18% to the day's low of 78,397.79
Indian financial markets will be closed on Wednesday on account of Christmas.
"Technically, after a muted opening, the market witnessed range-bound activity throughout the day, it also formed a small inside body candle on the daily charts. We believe that the current market texture is non-directional, as traders seem to be waiting for a breakout in either direction," said Shrikant Chouhan, head, equity research, Kotak Securities
On the upside, 23,850/78,800 would be the immediate breakout level for the bulls. If surpassed, the market could rally up to 23,950-24,000/79,100-79,300. Conversely, selling pressure is likely to accelerate below 23,600/78,200, with the market potentially slipping to 23,500-23,475/78,000-77,800, Chouhan said.
ITC Ltd., Tata Motors Ltd., Tata Consultancy Services Ltd., Mahindra & Mahindra Ltd., and Trent Ltd. added to the Nifty 50 index.
Infosys Ltd., State Bank of India, HDFC Bank Ltd., Power Grid Corp of India and Titan Co. Ltd. weighed on the index.
On NSE, nine sectors declined, and three advanced out of 12. The NSE Nifty Metal declined the most, and the NSE Nifty Auto rose the most.
Broader markets outperformed benchmark indices. The BSE Midcap and BSE Smallcap indices settled 0.09% and 0.37% higher, respectively.
On BSE, 13 sectors declined, and eight advanced out of 21. The BSE Metal declined the most, and the BSE Services rose the most.
Market breadth was skewed in favour of sellers. Around 2,2022 stocks declined, 1,976 stocks advanced, and 94 stocks remained unchanged on BSE,
Rupee Ends At Record Closing Low Against US Dollar
Rupee weakened by 8 paise to end at a record closing low of 85.20. During the day, Rupee fell as much as 9 paise to a record low of 85.21. It closed at 85.12 on Monday, according to data on Bloomberg.
Market At Close
The NSE Nifty 50 and BSE Sensex continued decline after one-day rise.
Power Grid Corp of India, JSW Steel Ltd., and SBI Life Insurance Co. were the top loser.
Tata Motors Ltd., Adani Enterprises Ltd., and Bharat Petroleum Corp Ltd. were top gainers.
The NSE Nifty Midcap 150 ended 0.02% higher at 21,0180.70.
The NSE Nifty Smallcap 250 ended 0.31% higher at 17,672.45.
Stock Market Today: Biocon Gets EIR From US FDA With Voluntary Action Indicated
Biocon has received the Establishment Inspection Report with a "Voluntary Action Indicated" status from the US Food and Drug Administration for its Karnataka API facility, according to an exchange filing.
Stock Market Today: Dollar Industries To Consider Fundraise On Jan 2
Dollar Industries will consider raising funds through a Qualified Institutions Placement on January 2, according to an exchange filing.
Stock Market Today: Aarti Drugs Gets EIR From USFDA
Aarti Drugs has received the Establishment Inspection Report from the US Food and Drug Administration after the conclusion of its inspection of the Tarapur API facility, according to an exchange filing.
Stock Market Live Update: Newgen Software Technologies Arm In Saudi Arabi Gets Order Worth $2.27 Million
Newgen Software Technologies Ltd.'s arm in Saudi Arabia has received an order worth $2.27 million for one year, according to an exchange filing.
Europe Market Update: UK Benchmark Rises Despite Disappointing GDP Data
The UK's benchmark FTSE 100 was trading higher despite data showed that the British economy did not grew at in the third quarter. Preliminary estimate for the third quarter from the Office For National Statistics showed that the UK economy grew 0.1% during third quarter.
Other benchmarks in the Eurozone were trading higher tracking gains overnight gains on Wall Street which was fuelled by technology stocks. The Euro Stoxx 50 and CAC 40 were trading 0.20% and 0.39% higher, respectively.
Asia Market Update: Most Stock Gauges End Christmas Eve Higher
Most stock gauges ended the Christmas eve higher on Asia-Pacific. The CSI 300 and Hang Seng indices ended 1.08% and 1.27% higher, respectively.
Bucking the trend, the Nikkei 225 ended 0.32% down at 39,036.85 as the Bank of Japan's meeting minutes showed that members were keen to raise rates if inflation and economic outlook is met.
The KOSPI ended 0.06% down at 2,440 after data showed that the South Korea's consumer confidence slipped to the lowest level in two years.
FRAI Appeals Govt To Provide A Tech Platform To Small Retailers To Fight Quick Comm Players
Federation appeals for enhanced technology support to kirana stores to compete with Blinkit, Swiggy and Zepto
Calls for Uber-like technology platform for kirana stores where customer orders are allocated to the first kirana store that accepts them.
Alert: FRAI is Federation of Retailers Association of India. It represents 80 lakh small and medium retailers.
Stock Market Live: Akum Drugs In Pact SKU For Manufacturing & Supply
Akum Drugs & Pharmaceutical Ltd. has entered into a pact to manufacture and supply multiple SKUs of oral liquid formulations in several European countries, with a composite value of the agreement estimated at around Rs 1,760 crore, according to an exchange filing.
Stock Market Today: Knowledge Marine & Engineering Board Approves Stock Split
Knowledge Marine And Engineering Works Ltd.'s board has approved the splitting of each share into two and the raising of Rs 500 crore through a share issue, according to an exchange filing.
IPO Update: Ganesh Consumer Files Fresh Issue Upto Rs 130
Ganehs Consumer has filed for an initial public offer, including a fresh issue of shares up to Rs 130 crore and an offer for sale of up to 1.2 crore shares, according to Bloomberg.
Stock Market Live: Bharat Global Developers Announces Deferment Of Share Split
Bharat Global Developers has announced the deferment of the share split and bonus until further notice, according to an exchange filing.
Stock Market Live: BPCL Approves Commencement Of Pre-Project Activities
Bharat Petroleum Corp Ltd. has approved the commencement of pre-project activities at an estimated cost of Rs 6,100 crore for setting up a greenfield complex in Andhra Pradesh, according to an exchange filing.
Most Defense Stocks Advance As
Most defense stocks were trading higher on Tuesday after brokerages expressed positive sentiment for the companies in the sector as they see order inflow rising in calendar 2025.
Stock Market Live Updates: Rupee Continues To Hit Fresh Low Against US Dollar
The Indian rupee declined 9 paise to 85.1980 against the US dollar, according to data on Bloomberg. It was trading 85.1775 a dollar as of 11:06 a.m.
The Indian unit settled at 85.1012 a dollar on Monday.
Stock Market Live Updates: Websol Energy System Share Price Rises To Fresh High
Websol Energy Ltd. share price rose to record high as after the company informed the exchanges that it has placed purchase order for equipment for its additional capacity of 600 MW Cell line at Falta Plant.
NACDAC Listing: Most Subscribed SME Stock Makes Bumper Debut At 90% Premium
Shares of NACDAC Infrastructure Ltd. made a stellar debut on BSE SME on Tuesday, Dec. 24, after emerging as the most subscribed SME IPO in India’s history. The stock listed at Rs 66.5 on the BSE, with a premium of 90% over the issue price of Rs 35.
Read the full article here.
IPO Update: Ventive Hospitality Subscribed 1.43 Times
The IPO has been subscribed 1.43 times as of 10:21 a.m.
Qualified institutional buyers: 1.22 times.
Non-institutional investors: 1.46 times.
Retail investors: 1.99 times.
Portion reserved for employees: 5.38 times.
Stock Market Live: Emkay Global On Gas Stocks
Maintains ADD on MGL, REDUCE on IGL
CNG players scouting for additional gas to meet volumes amid APM allocation cut
Rs 5-7/kg price hike still required by IGL & MGL to reach pre-allocation cut margins
MGL could be targeting an EBITDA/scm of Rs 8-10
IGL expects new gas allocation, duty restructuring, price hikes to help margin recovery
Gas under GST could be material trigger for IGL
Q3-Q4FY25 expected to be weak for gas stocks in terms of margins
Gas cos could achieve their guided margins in FY26
Key recovery triggers: Broader auto-fuel taxation, volume sustenance
Stock Market Live: MTNL Share Price Snaps Three-Day Fall
Mahanagar Telephone Nigam Ltd.'s share price came out of its three-day fall and rose on Tuesday following the company's approval to reduce employee costs by offering voluntary retirement scheme.
Nifty, Sensex Open Higher As HDFC Bank, Bharti Airtel Share Prices Rise : Opening Bell
The NSE Nifty 50 and BSE Sensex opened higher on Tuesday as Bharti Airtel Ltd. and HDFC Bank Ltd. share prices rose. However, the benchmark indices pared gains to trade flat.
As of 09:18 a.m., the Nifty 50 was 14.00 points or 0.1% higher at 23,767.45, and the Sensex was 41.41 points or 0.1% higher at 78,581.58.
The non-directional activity is likely to persist in the near future; therefore, level-based trading would be the ideal strategy for day traders, said Shrikant Chouhan, head, equity, research, Kotak Securities
"For traders, 23650/78300 and 23550/78000 would serve as key support zones, while the 200-day SMA or 23850/78800 and 24000/79300 could act as crucial resistance levels for the bulls. If the market crosses 23870 at the start, it could trigger short covering, potentially driving the market up towards 24000 or 24065 in the best-case scenario."
Bharti Airtel Ltd., Reliance Industries Ltd., Larsen & Toubro Ltd., Tata Consultancy Services Ltd., and ICICI Bank Ltd. added to the benchmark indices.
HDFC Bank Ltd., Kotak Mahindra Bank Ltd., JSW Steel Ltd., UltraTech Cement Ltd., and Power Grid Corp of India weighed on the index.
On NSE, five sectors advanced, five declined, and two remained unchanged out of 12. The NSE Nifty Metal declined the most, and the NSE Nifty Media rose the most.
Broader markets were trading on a mixed note. The BSE Midcap was 0.07% down, and the BSE Smallcap was 0.04% higher.
On BSE, 12 sectors declined, nine sectors advanced out of 21. The BSE Realty declined the most, and the BSE IT rose the most.
Market breadth was skewed in favour of buyers. Around 1,717 stocks advanced, 1,129 stocks declined, and 102 stocks remained unchanged on BSE.
Stock Market Live Updates: Nifty, Sensex Higher At Pre-Open
At pre-open, the NSE Nifty 50 was trading 0.07% higher at 23,769.10, and the BSE Sensex was trading 0.21% higher at 78,708.93.
Yield On The 10-Year Bond Opens Flat
The yield on the 10-year bond opened flat at 6.78%. It closed at 6.77% on Monday, according to data on Bloomberg.
Rupee opens Stronger Against US Dollar
Rupee Strengthened 2 paise to open at 85.10 against the dollar. It closed at 85.12 on Monday, according to data on Bloomberg.
Stock Market Today: Morgan Stanley On SBI Cards
Maintain equal Weight; TP: 650 (-6%)
Nov spending mkt share fell to 14.9% vs 19.6% YoY and 15.8% MoM
Spending fell 20% YoY, 10% MoM vs 5% growth YoY for industry
Impact of spending due to RBI notification on corporate card spending
Market share in number of cards in force is at 18.7%, down 33bps YoY, up 15bps MoM
Aggregate daily spending up 8% YoY so far in Dec, vs 4% in November and 12% YoY in Oct
Stock Market Live: PG Electroplast Signs Agreement With Whirlpool India
PG Electroplast Ltd. has signed a definitive agreement with Whirlpool India Ltd. for the contract manufacturing of select models of Whirlpool branded semi-automatic washing machines, according to an exchange filing.
Gold Prices Erase Losses
Gold spot prices erased losses in Asian trade. It declined on Monday tracking a sharp rise in the dollar index and US treasury yields.
The spot Gold was trading 0.19% higher at $2,617.41 an ounce. It settled 0.39% down at $2,612.56 an ounce on Monday.
However, Gold futures continued to decline for a second day in a row on Tuesday. It fell 0.67% down at $2,611.10 an ounce so far today. It was trading 0.62% down at $2,612.30 an ounce.
Oil Prices Rebound On Asian Trade; Trump Demands Reduced Fees On Panama Canal
Crude oil prices edged up in Asian trade Tuesday. US President-elect Donald Trump asked to reduce fees on the Panama canal or return it to the US control, creating new subject of tension in the global commodity supply chain.
The Panama canal accounts for 2% of global oil supply, according to Bloomberg.
The February future contract of brent crude was trading 0.59% higher at $73.06 a barrel on the intercontinental exchanges as of 8:07 a.m. It settled 0.42% down at $72.63 a barrel on Monday.
Stock Market Today: JPMorgan Initiates Coverage On Sagility
Overweight with a target price Rs 54, which implied a 16% upside.
Sagility is a niche tech ops vendor to US based healthcare payers and providers
Should enjoy structural tailwind from increased outsourcing to US healthcare
Deep domain expertise and client relationships should drive increased mining
Exposure to non-discretionary spends keeps growth stable
High structural EBIT margins
Forecast 50% earnings CAGR over FY24-27E
Key risks: high client concentration, in-sourcing from top clients, changes in regulations, potential TAM risk from AI adoption
Phillip Capital Initiates Coverage on Defence
Defence offers multiple growth levers and strong visibility for long-term execution
Key Drivers Include:
Robust order books and a healthy pipeline
Strategic moats driven by government preference and domain expertise
Cash-rich balance sheets with minimal working capital challenges
Margins from core defence products expected to expand driven by operational efficiencies
Stocks with favourable risk-reward profile:
Initiate Buy on BharatElectronics, TP Rs 3,400 (+32% upside)
Initiate Buy on HAL, TP Rs 5,500 (+31% upside)
Initiate Buy on Data Patterns, TP Rs 3,400 (+32% upside)
Initiate Neutral on Solar Industries, TP Rs 12,000 (+22.6%)
Initiate Neutral on Bharat Dynamics, TP Rs 1,400 (+12.9%)
Stock Market Live Updates: Nuvama On Defence Sector
Envisage $130 billion in defence spending in next five years
Huge localisation push to reduce dependence on disrupted global supply chains
This shall unveil a golden pipeline for private defence industry to step up
Believe 2025 to be pivotal year for India given likely orders for some larger programs
Trump administration coming into power soon, India-US defence co-operation expected to improve
Recent stock price correction across defence pack chance to make a lunge
Top Picks:
Bharat Electronics, Data Patterns
Asia Market Update: Most Share Indices Fall
Most share indices were trading slightly down in early Tuesday morning in Asia-Pacific. The Nikkei 225 was 0.24% down as the Bank of Japan's meeting minutes showed that members were keen to raise rates if inflation and economic outlook is met.
The KOSPI was down 0.19%, while the S&P ASX 200 was 0.12% high as of 7:12 a.m.
US Stocks End Higher On Tech Stocks' Rally
On Monday, US share indices ended higher tracking gains on technology company shares. The Dow Jones Industrial Average and S&P 500 ended 0.16% and 0.73% higher, respectively.
The Nasdaq Composite ended 0.98% higher.
GIFT Nifty Near 23,800; Bharat Forge, H.G. Infra, TVS Motor Share Prices In Focus
The GIFT Nifty was trading near 23,800 on Tuesday morning. Shares of Bharat Forge Ltd., HG Infra Engineering Ltd., and TVS Motor Co. share prices may react.
The GIFT Nifty was trading 0.09%, or 20.50 points, higher at 23,790, as of 6:31 a.m.
Benchmark equity indices tracked the gains in US and Asia markets to close higher on the first session of Christmas week. Before today, both the indices had lost nearly 5% last week.
Nifty ended 0.7%, or 165.95 points, up at 23,753.45 and Sensex closed 0.64%, or 498.58 points, higher at 78,540.17. Intraday, both the indices had gained more than 1%.
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