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.jpg?downsize=1080:540 "Stock Market Today: Nifty, Sensex Fall For Second Session As RIL, FMCG Stocks Drag")
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.
UK: MPC Member Ramsden Speaks
US: Final Wholesale Inventories month-on-month
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 weakened by 3 paise to close at 84.73 against the US Dollar.
It closed at 84.70 on Friday.
Source: Bloomberg
Supriya Lifesciences has expanded its global footprint with Esketamine Hydrochloride approval, Atorvastatin patent filing, an exchange filing said.
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.
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.
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.
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
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.
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.
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.
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. "
The yield on the 10-year bond opened flat at 6.73%.
It closed at 6.74% on Friday.
Source: Bloomberg
Rupee Strengthened 4 paise to open at 84.66 against the dollar.
It closed at 84.70 on Friday.
Source: Bloomberg
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.
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.
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