KEY HIGHLIGHTS
Economic Data Releases And Events For Dec 27
US: Goods Trades Balance — 7:00 p.m.
US: Preliminary Wholesale Inventories — 7:00 p.m.
US: Energy Information Administration Natural Gas Storage Weekly Report — 9:00 p.m.
US: EIA Crude Oil Inventories Weekly Report — 11:30 p.m.
US Futures Decline
Future contract of Dow Jones was 0.3% down at 43,575.00, that of S&P 500 fell 0.4% to 6,072.25, and Nasdaq 100 contract fell 0.4% to 21,913.25 as of 3:40 p.m.
Stock Market Highlights: Nifty, Sensex Recoup Weekly Losses; Dr. Reddy's, IndusInd Bank Top Gainers
The NSE Nifty 50 and BSE Sensex ended Friday's session higher as Mahindra & Mahindra Ltd. and ICICI Bank Ltd. share prices lead. The Nifty 50 ended with gains for second day in a row. The benchmark indices recouped weekly losses.
The Nifty 50 ended 63.20 points or 0.27% higher at 23,813.40, and the Sensex ended 271.74 points or 0.35% higher at 78,744.22.
A few hours into Friday's session, the Nifty 50 rose 0.79% to the day's high of 23,801.40, and the Sensex rose 0.73% to the day's high of 79,043.15.
The benchmark indices pared most gains as the session advanced. Sharp decline in the Indian currency also weighed on the investors' sentiment.
ICICI Bank Ltd., HDFC Bank Ltd., Reliance Industries Ltd., Bajaj Auto Ltd., and ITC Ltd. added to the Nifty 50 index.
Apollo Hospitals Enterprise Ltd., HCLTech Ltd., Dr. Reddy's Laboratories Ltd., Titan Co. Ltd., and Adani Ports And Special Economic Zone Ltd. weighed on the Nifty 50 index. On
On NSE, seven sectors advanced and five declined out of 12. The NSE Nifty Pharma advanced and the NSE Nifty Metal declined the most.
Broader indices were mixed. BSE Midcap underperformed and closed 0.1% down while BSE Smallcap rose around 0.3%.
Twelve of 21 sectoral indices on the BSE fell and rest gained. BSE Metal fell the most.
Market breadth was skewed in the favour of sellers. As many as 2,027 stocks fell, 1,942 advanced, and 119 remained unchanged on the BSE.
On weekly basis, the Nifty 50 and Sensex recouped losses. The Nifty 50 and Sensex ended 0.96% and 0.84% higher, respectively in the week ended on Dec 27.
This week on NSE, eight sectors advanced and four declined out of 12. The NSE Nifty Media declined the most, while the NSE Nifty Auto rose the most.
The NSE Nifty Auto, NSE Nifty Oil and Gas, NSE Nifty Banks snapped two weeks losing streak
Rupee Ends Record Closing Low Against US Dollar
Rupee closed at a record closing low of 85.54 against the US Dollar.
Rupee posts sharp recovery after weakening by a record 53 paise during the day.
The currency opened at 85.32 against the US Dollar.
It closed at 85.26 on Thursday.
Rupee saw the steepest single-day decline since Feb. 2023
Indian Rupee led the fall in Asian currencies on Friday.
Rupee set to post yearly losses against dollar for 7 consecutive years
Source: Bloomberg
Market At Close
The NSE Nifty 50 and BSE Sensex reversed weekly losses.
The Nifty 50 rose for second day in a row.
Dr. Reddy's Laboratories Ltd. and IndusInd Bank Ltd. share prices were top gainers in the Nifty 50.
Hindalco Industries Ltd. and State Bank of India were top loser in the Nifty 50 index.
The NSE Nifty Midcap 150 ended 0.15% down at 21,064.30.
The NSE Nifty Smallcap 250 ended 0.20% higher at 17,703.60.
Stock Market Live: Max Estates Secures Pre-Booking Sales Worth Rs 845 Crore
Max Estates Ltd. has secured pre-sales bookings worth Rs 845 crore within a week of launching Phase II of the Estate 128 project in Noida, according to an exchange filing.
European Market Update: Most Share Indices Trade Higher
Most European markets were trading higher without any significant triggers in Friday's lackluster trade. The Euro Stoxx 50 and CAC 40 were trading 0.17% and 0.25% higher, respectively. The IBEX 35 was 0.04% down as of 2:05 p.m.
Adani Ports Places India's Largest Order For 8 Harbour Tugs With Cochin Shipyard
Shares of Cochin Shipyard were locked in an upper circuit on Friday after the company received an order from Adani Ports and Special Economic Zone Ltd. The order by Adani Ports is the largest ever for eight harbour tugs under the Make In India scheme.
Stock Market Today: Fortis Healthcare Approves Appointment Of New Chairman
Fortis Healthcare Ltd.'s board has approved the appointment of Leo Puri as Chairman, according to an exchange filing.
Stock Market Today: Mazagon Dock Share Price Resumes Decline
Mazagon Dock Shipbuilders Ltd.'s share price resumed decline after a one-day rise and fell as they traded ex- split. Before Thursday's advance, the stock had lost nearly 13% in its five-session fall.
Stock Market Live Updates: Shilpa Medicare Units Gets GMP Approval.
Shilpa Medicare Ltd.'s Unit IV and Unit VII have received GMP approval for Eurasia. This approval is expected to open up significant business opportunities in Eurasia, which includes Belarus, Russia, Kazakhstan, Kyrgyzstan, and Armenia, according to an exchange filing.
Good Manufacturing Practice)approval refers to a certification that ensures a company adheres to the required standards for manufacturing processes, quality control, and safety in producing pharmaceutical products.
Rupee Slumps To New Low Of 85.50 Against US Dollar
The rupee declined 23 paise to a record low of 85.50 against the US dollar.
It opened at 85.32 a dollar on Friday.
The rupee closed at 85.27 a dollar on Thursday.
Source: Bloomberg
Stock Market Live: NTPC Green Energy Starts Operation In First Part Capacity In Gujarat Solar PV
NTPC Green Energy Ltd.'s arm has commenced the commercial operation of the first part capacity of 37.5 MW of the Gujarat Solar PV Project, which has an overall capacity of 200 MW in Sadla, according to an exchange filing.
Stock Market Today: EFC Approves Bonus Share Issuance
EFC (I) Ltd. has approved a bonus issue of shares in a 1:1 ratio and increased its authorized share capital to Rs 25 crore from Rs 15 crore, according to an exchange filing.
IPO Update: Mamata Machinery Share Price Locked In Upper Circuit
Shares of the widely oversubscribed company hit a 5% upper circuit on the bourses within minutes of listing. Share price of Mamata Machinery is currently locked at Rs 630, as of 10:27 a.m.
IPO Update: Concord Enviro Systems Lists At Nearly 18% Premium
Shares of Concord Enviro Systems Ltd. listed on the National Stock Exchange on Friday at Rs 826 apiece, a premium of 17.83% over the issue price of Rs 701 apiece. The stock listed on the BSE at Rs 832 per share, marking a premium of 18.6%.
India Rupee Slumps To Record Low Of 85.44 Against US Dollar
The India rupee slumped 18 against the US dollar to a fresh low of 85.44 a dollar on Friday.
The Indian currency opened at 85.32 a dollar on Friday. It closed at 85.26 a dollar on Thursday.
Source: Bloomberg
Manmohan Singh's Demise Great Shock, Chidambaram Says
Senior Congress Leader P Chidambaram was mentally prepared for the inevitable. Still, the news of demise of former Prime Minister Manmohan Singh was a great shock, he said while talking to NDTV Profit.
The 1991 reform was a true decisive break from the past 40 years. There was no choice of goods and services before 1991, Chidambaram said.
Former RBI Governor Recalls Manmohan Singh's Advice Which Deeply Moved Him
The RBI is a different institution, Singh said as the former Reserve Bank of India Governor Subbarao remembered.
"When you go there, you get immersed in numbers: money supply, credit growth, repo rate, interest rate, inflation rate, you forget that there are real people behind that. Remember, whatever you do, there are people behind who will get affected," Subbarao shared the advice while talking to NDTV Profit.
Stock Market Today: Nifty, Sensex Open Higher As ICICI Bank, HDFC Bank Share Prices Lead
The NSE Nifty 50 and BSE Sensex opened higher on Friday tracking gains in private bank stocks. ICICI Bank Ltd. and HDFC Bank Ltd. share prices contributed the most.
As of 09:16 a.m., the Nifty 50 was 74.85 points or 0.32% higher at 23,825.05, and the Sensex was 260.55 points or 0.33% higher at 78,733.02.
The immediate breakout level for traders is 23,850/78900 or the 200-day simple moving average. If the market moves above this level, it could rise to 24,000-24,100/79,500-79,800, Shrikant Chouhan, head, equity research, Kotak Securities.
"Conversely, if it drops below 23,600/78000, it may retest the levels of 23,550-23,500/77900-77700. As for the Bank Nifty, it is expected to remain within the range of 51500 and 51000. If it falls below 51000, it may drop to 50500, where support from the 200-day simple moving average (SMA) can be found. Above 51500, it could quickly move towards 51800 and 52000."
ICICI Bank Ltd., HDFC Bank Ltd., Reliance Industries Ltd., Bajaj Auto Ltd., and ITC Ltd. added to the Nifty 50 index.
Apollo Hospitals Enterprise Ltd., HCLTech Ltd., Dr. Reddy's Laboratories Ltd., Titan Co. Ltd., and Adani Ports And Special Economic Zone Ltd. limited losses to the Nifty 50 index.
During open, 11 sectors were trading higher and one down out of 12 on National Stock Exchange. The NSE Nifty Pharma declined the most, and the NSE Nifty Auto rose the most.
Broader markets were trading higher on BSE. The BSE Midcap and Smallcap indices were trading 0.34% and 0.24% higher.
On BSE, all 21 sectors were trading higher with the BSE Auto rose the most.
Market breadth was skewed in favour of buyers. Around 1,875 stocks advanced, 801 stocks declined, and 117 stocks remained unchanged on BSE.
Stock Market Live: Live: Nifty, Sensex Higher At Pre-Open
At pre-open, the NSE Nifty 50 was 0.22% higher at 23,801.40, and the BSE Sensex was 0.17% higher at 78,607.62.
Rupee Hits Fresh Record Low Against US Dollar
Rupee weakened by 7 paise to a record low of 85.33 against the US Dollar. The currency opened at 85.32 against the US Dollar. It closed at 85.26 on Thursday, according to data on Bloomberg
Oil Prices Flat
Oil future prices were trading flat on Thursday on lack of significant cues at the end of the year trade. The brent crude was 0.01% higher at $73.27 a barrel as of 8:21 a.m.
Stock Market Live: Neisoft's IPO Entails Rs 100-Crore Fresh Issue
Neilsoft's IPO will include a fresh issue of shares worth up to Rs 100 crore and the sale of 80 lakh existing shares, according to Bloomberg.
Stock Market Today: Emkay on Auto & Auto Ancillaries: Dec 2024 Volumes
Retail sales post-festive have moderated across 2Ws and PVs
Two wheeler/passenger vehicle retail sales down 16%/1% in Dec'24 vs 16%/4% growth during Sep-Nov’24
Retail sales moderating on weakening consumer sentiment, financiers practising caution
Growth rates remain muted despite record discounts- which heave led to high channel inventory
Expect TVS Motors and Royal Enfield to do well within 2Ws
Hero MotoCorp likely to report muted volumes at 360k units
Mahindra & Mahindra Ltd. likely to post better annual growth within PVs due to newer launches
Stock Market Live Updates: Morgan Stanley On India Equity Strategy
Expect robust growth signals in the months ahead
Heightened capital market activity, global developments to decide where share prices head
Higher govt spending, expanded wedding season, strong summer crop to support near-term growth
Q3FY25 earnings season may have a positive surprise due to major earning estimate reductions
Behaviour of Indian earnings and stock to depend on policy action in US & China, outcome of global conflicts
Expect regulatory tightening to loosen in the weeks ahead
Stock Market Today: Emkay's View on Auto & Auto Ancillaries
Brokerage prefer companies with bottom-up growth and margin expansion triggers
Like TVS Motors on sustained market share gains across major categories
Likes Royal Enfield on renewed growth focus, early signs of export recovery
Likes the commercial vehicle segment due to improving govt capex-led demand revival
Like Maruti Suzuki despite near-term volume & margin weakness due to reasonable valuations, upcoming launches
Asia Market Update: Markets In Japan Rise As Yen Weakens
Markets in Japan were trading higher on Friday as weakness in yen improved sentiment. The yen was trading near five-month low of 158.08 a dollar—which it hit on Thursday— in early trade. The Nikkei 225 was 0.85% higher at 39,887.27 as of 7:12 a.m.
The KOSPI was 0.88% down at 2,408 as of 7:13 a.m. The South Korean benchmark fell as political crisis deepened as the Parliament is set to vote on impeaching acting-President Han Duck-Soo.
The S&P ASX 200 was 0.53% higher at 8,264.80 as of 7:14 a.m.
US Market Update: Share Indices End Little Changed On Lackluster Volume
US stock gauges ended little changed on Thursday as volume remained muted in the post holiday session. Initial Jobless claims fell to 219,000 in the week ended on Dec 21.
The Dow Jones Industrial Average ended 0.07% higher, and S&P 500 ended 0.04% down. The Nasdaq Composite ended 0.05% down.
GIFT Nifty Above 23,800; Allcargo Logistics, Dixon Tech, Jubilant Foodwork In Focus
The GIFT Nifty was trading above 23,800 in early trade on Friday. Allcargo Logistics Ltd., Dixon Technologies (India) Ltd., and Jubilant Foodworks Ltd. share prices may react.
The GIFT Nifty was trading 0.35% or 83 points down at 23,864.00 as of 6:31 a.m.
After opening higher, the benchmark equity indices saw a muted close on the day of 2024's last monthly derivatives contract expiry of the Nifty index on Thursday.
The NSE Nifty 50 ended 0.10% or 22.55 points up at 23,750.20 and the BSE Sensex closed flat at 78,472.48. During the day, both the indices had risen around 0.5%.
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