Stock Market LIVE: Sensex Flat, Nifty above 24,600; UltraTech, Infosys Gain, Banking Stocks Drag

In its India Economic and Market Outlook 2025 report, Axis Bank predicts a strong economic recovery, with Gross Value Added (GVA) growth expected to rebound to 7 per cent in FY26, up from 6.6 per cent in FY25. Despite challenges from fiscal consolidation, the outlook remains optimistic, driven by industry growth, a real estate upcycle, and agricultural resilience.

Indian benchmark indices ended flat on December 11, with the Sensex rising 16.09 points or 0.02% to close at 81,526.14, while the Nifty held steady above the 24,600 mark to finish at 24,650. The market displayed resilience despite mixed sentiment, as the Sensex opened at 81,568.39 and the Nifty began the day at 24,620.50. Gains in auto, FMCG, IT, and metals stocks offset losses in PSU banks, which underperformed with the PSU Bank index declining nearly 1%. Among the top gainers on the Nifty were Trent, Bajaj Finance, Britannia Industries, Shriram Finance, and Bajaj Finserv, while JSW Steel, Adani Ports, NTPC, SBI, and Axis Bank emerged as the top losers.

Swiggy has launched One BLCK, a premium, invite-only membership offering a range of exclusive benefits designed for those seeking a higher level of convenience and service. Members will enjoy features such as an On-Time Guarantee, faster food deliveries, complimentary cocktails or desserts at partner restaurants, and much more.

Tailored for users who demand an elevated Swiggy experience, One BLCK promises to bring an unmatched level of convenience. As of now, Swiggy’s stock is priced at ₹522.50, down ₹21.05 (-3.87%) from its opening value of ₹534.65 today.

Travel Food Services, which operates quick-service restaurants and lounges at airports in India and Malaysia, has submitted its draft papers to the Securities and Exchange Board of India (Sebi) for an initial public offering (IPO) valued at Rs 2,000 crore.

NTPC Green Energy’s stock climbed by approximately 1.4% following the announcement that its subsidiary, NTPC Renewable Energy Limited (NTPC REL), successfully bid for 500 MW of solar power capacity in an e-reverse auction held by the Solar Energy Corporation of India (SECI) on December 9, 2024.

Dee Development Engineers has announced the receipt of a $16.5 million purchase order from an international client. Following the news, the company’s stock saw a rise of 2.38%, trading at 354.40, up by 8.25 points from its opening price of 346.50. 

According to market tracker websites, the Grey Market Premium (GMP) for Mobikwik’s IPO is Rs 136. At the upper price band of Rs 279, the estimated listing price is Rs 415, representing a potential gain of 48.75% per share.
 

Nifty PSU Bank shreds, led by UCO Bank, Union Bank, Maharashtra bank, Bank of Baroda, SBI, Bank of India, PNB

Tata Power Renewable Energy has signed an MoU with Tivolt Electric Vehicles, the EV arm of the Murugappa Group and a subsidiary of TI Clean Mobility, to strengthen India’s EV charging infrastructure for commercial vehicles. On the stock market, Tata Power opened at ₹435.20, matching the previous close, and was trading at ₹435.50 (+0.07%) as of 2:30 PM.

 
Top Gainers: Bajaj Finance, Ultratech, Asian Paint, Infoysys and Nestle India 
Top losers: L&T, HDFC Bank, ICICI Bank, Titan and TCS 
 

After plummeting to nearly half its value over the past four sessions, Mishtann Foods' share price rebounded with a 21% increase from today's low. The penny stock had been on a continuous downward trend, hitting lower circuits for three consecutive sessions. 
 

The Nifty Metal index leads as the top sectoral gainer today, with key stocks like Vedanta, Hindustan Zinc Limited, Welspun Corp, Hindalco Industries, and Tata Steel driving the upward momentum.

JSW Steel's stock declined following a GST notice and Rs 64.5 crore penalty issued by the Belagavi division's GST Commissioner.

Vishal Mega Mart, a leading supermarket chain operating over 600 stores in 414 cities across 28 states and two union territories, has launched its Rs 8,000 crore Initial Public Offering (IPO) today, December 11, 2024. As per market trackers, the grey market premium (GMP) for Vishal Mega Mart IPO was Rs 19. Based on this GMP and the upper price band of Rs 78, the estimated listing price is Rs 97 per share. This indicates an expected gain of approximately 24.36%. 

SENSEX is up by 150 points, currently at 81,653.73, up 0.18% per cent . The NIFTY 50 stands at 24,654.85, rising by 44.80 points gaining 0.18% per cent.

Bharat Global Developers Shares Rise 5% 

Bharat Global Developers Ltd. (BGDL) saw a 5% jump in stock price after securing a Rs 650 crore annual supply contract with Tata Agro & Consumer Products. BGDL will supply premium agricultural products, including tea leaves, coffee beans, pulses, and dry fruits, in phased deliveries throughout the year.
 

Shares of Gautam Singhania-led Raymond continued their upward momentum on Wednesday, gaining nearly 6% for the second day in a row. The stock opened at Rs 1,805.50, up from the previous close of Rs 1,799.95, and reached an intraday high of Rs 1,908, marking a 5.71% increase. By 10:30 AM, Raymond's shares were firmly in the green, trading 4.80% higher at Rs 1,890.75.
 

The Sensex stands at 81,627.04, up by 116.99 points (+0.14%), with UltraTech, Nestlé, Infosys, Sun Pharma, and Tata Steel leading the charge. Meanwhile, the Nifty 50 is at 24,654.85, gaining 44.80 points (+0.18%), driven by gains in UltraTech, Britannia, Grasim, Nestlé India, and Tata Consumers.

Shares of Indian Overseas Bank (IOB), a state-owned lender, surged more than 4.5%, reaching a day's high of Rs 59.55 on the NSE. The jump followed the bank's announcement that it had received a tax refund order of Rs 1,359.29 crore for the assessment year 2015-16, including interest under Section 244A. This follows a similar order in November for Rs 1,238 crore for the assessment year 2019-20.

Leading the rise in Nifty Auto are prominent players like M&M, Bajaj Auto, Hero MotoCorp, Ashok Leyland, Tata Motors, Maruti Suzuki, Bosch Limited, and Eicher Motors.
 

The Nifty Bank index saw a decline of 0.38% today, with major contributors to the drop being ICICI Bank, PNB, IDFC First Bank, Canara Bank, HDFC Bank, Bank of Baroda, IndusInd Bank, SBI, and AU Small Finance Bank.

Adani Ports and Special Economic Zone Ltd (APSEZ) announced it has withdrawn its $553 million financing request from the US International Development Finance Corporation (DFC) for the Colombo West International Terminal (CWIT) project in Sri Lanka. The stock opened at 1252.75, compared to the previous close of 1248.60. Currently, it is trading at 1249.85, up by 1.25 points (+0.10%).

Today, the SENSEX saw notable movements with UltraTech Cement, Nestle India, Infosys, Maruti, Asian Paints, Tata Steel, Tata Motors, M&M, Sun Pharma, and JSW Steel emerging as the top gainers. On the other hand, the major losers included NTPC, Reliance, L&T, Kotak Bank, Adani Ports, IndusInd Bank, TCS, Axis Bank, Titan, Bharti Airtel, HDFC Bank, Bajaj Finance, Tech Mahindra, ICICI Bank, and HCL Tech.

The Sensex opened in the green at 81,523.90, up by 13.85 points or 0.02% compared to its previous close of 81,586.76. Meanwhile, the Nifty 50 started the day almost unchanged at 24,610.95, registering a slight gain of 0.90 points (0%) from its previous close of 24,610.05.

Indian stock markets opened on a mixed note this morning. The Nifty 50 index started the day at 24,544.45, marking a decline of 65.60 points or 0.27% from its previous close of 24,610.05. Meanwhile, the Sensex showed positive momentum, opening at 81,728.15, up 218.10 points or 0.27% from its previous close of 81,510.05.

On Tuesday, Indraprastha Gas Limited (IGL), a leading natural gas distribution company, has declared its first-ever bonus share issue. The Board of Directors approved issuing bonus equity shares in the ratio of 1:1, rewarding eligible shareholders with one equity share for every share held. Yesterday, stock closed at Rs 386.10 with gaining 0.12 per cent compared the previous close of Rs 385.65

On Tuesday, The Securities and Exchange Board of India (SEBI) has suggested leveraging DigiLocker, a government-supported digital storage platform, to reduce unclaimed assets in the securities market. In its consultation paper, SEBI proposed that depositories and mutual fund providers share demat account and mutual fund holding statements through DigiLocker. Additionally, KYC Registration Agencies (KRAs) could be mandated to notify DigiLocker about the demise of investors to ensure seamless updates and facilitate claims. This initiative aims to enhance transparency, simplify processes, and improve accessibility for investors and their nominees. 

The S&P 500 and Nasdaq Composite pulled back from recent record highs on Monday, as tech stocks faced renewed struggles and investors braced for key inflation data expected later this week. The broad market index recorded a decline, while the tech-heavy Nasdaq also ended lower. Meanwhile, the Dow Jones Industrial Average dipped during the session, reflecting widespread caution in the markets.

Chipmakers were among the hardest hit, with Nvidia sliding after news emerged of a regulatory investigation in China over potential antimonopoly violations. The company has been a key driver of the artificial intelligence trade this year, but the latest development weighed heavily on its stock. Other tech giants, including Meta Platforms and Netflix, experienced challenges during the trading session, contributing to the broader pullback in the technology sector. 

The BSE Sensex ended Tuesday nearly unchanged, adding just 1.59 points (0.0019%) to settle at 81,510.05, after touching an intraday high of 81,726.34. Meanwhile, the NSE Nifty 50 dipped 8.95 points (0.036%) to close at 24,610. Key gainers included Bajaj Finserv (+1.65%), HCL Tech (+1.31%), and SBI (+1.09%), while Bharti Airtel (-1.30%), Tech Mahindra (-0.90%), and Adani Ports (-0.89%) dragged the indices lower.