Stock Market LIVE: Sensex Down 1100, Nifty Below 24,000

Bharti Airtel, one of India’s leading telecom providers, announced the prepayment of ₹3,626 crore to the Department of Telecom, settling all its spectrum liabilities from the 2016 auctions. This move completes the company’s repayment of spectrum dues with interest costs exceeding 8.65%. In 2024 alone, Airtel has prepaid a total of ₹28,320 crore in spectrum liabilities, reflecting its focus on financial prudence and interest cost optimization.

Adani Energy Solutions Ltd (AESL) has announced the incorporation of its wholly-owned subsidiary, Adani Energy Solutions Step-Ten Ltd (AESSTL). Registered with the Registrar of Companies in Ahmedabad, Gujarat, on December 18, 2024, the new entity is yet to commence business operations. According to a regulatory filing, AESSTL has an authorised and paid-up share capital of ₹1 lakh, reflecting AESL’s strategic move to expand its energy solutions portfolio.

Gainer - Maruti, Titan, JSW Steel, Asian Paint & JSW Steel
Losers - Tech Mahindra, Axis Bank, TCS, Tata Motors & Bajaj Finance 

Tata Consultancy Services (TCS), a global leader in IT services and consulting, has expanded its partnership with the Bank of Baroda, India’s second-largest public sector bank, to implement a comprehensive financial inclusion solution over the next five years. The solution, capable of processing around 12 lakh transactions daily, will empower the bank’s 55,000+ agents to better serve over 6 crore customers in unbanked areas.

As per the NSE, the broad market indices are a sea of red, with most indices trading in red but yes the top losers stands are Nifty midcap 100 followed by nifty midcap 50, and small-cap 50. The Top losers are Tech Mahindra, Axis Bank, M&M, TCS, IndusInd Bank on Nifty 
 

Mufin Green Finance Limited has announced that it has entered into a finance agreement with the United States International Development Finance Corporation (USDFC), a U.S. Government development finance institution. The agreement, dated December 18, 2024, provides a loan facility of up to USD 18,000,000 (Eighteen Million US Dollars).

Maruti Suzuki has teased its upcoming eBorn electric SUV, the e Vitara, set to be launched in India at the Bharat Mobility Global Expo 2025. The e Vitara is built on the HEARTECT-e platform, specifically designed for Battery Electric Vehicles (BEVs). With cutting-edge technology and advanced safety features, the e Vitara aims to deliver a superior driving experience.

NBCC has secured an order worth Rs 200 crore from Oil India. However, the company's stock is trading in the red, currently at Rs 96.93, down by 0.18 points (-0.19%). The stock opened at Rs 97.11 today.

Steel Strips Wheels' shares saw a boost following a major order win announcement. The company has received a nomination for its steel wheel business from a prominent European Original Equipment Manufacturer (OEM). The order, valued at approximately €15 million, will be executed over six years, with series supplies expected to begin by the end of calendar year 2026. The company anticipates securing additional business from global OEMs in the coming months, aligning with its strategic goal to expand its presence in both the European and U.S. OEM markets.

Nifty IT slides by 1.75%, led by Infosys, Wipro, HCL Tech, TCS, Co forge, Tech Mahindra, 

In the early trade, these are the top stocks that are shinning starting with NTPC, Dr Reddy, Adani ENT, TCS and Bajaj Finance.
The stock which are falling are Axis Bank, Cipla, L&T, ITC and UltraTech Cement 

PSU banks are down by 0.55% in early trade, followed by declines in the Metals and Financial Services sectors. On the other hand, Media stocks are leading the gains with an increase of nearly 0.45%, followed by Oil and Gas, and IT sectors

In the early trade, these are top Gainer on the Sensex - TCS, NTPC, Infosys, Bajaj Finance, Tata Motors,  Titan, Asian Paints, Kotak Bank

Top Losers - Axis Bank, JSW Steel, L&T, ITC, Powergrid, Tata Steel, Nestle India, M&M 

In today's trading session, the Nifty opened at 23,960.70, while the Sensex began the day at 79,335.48. The previous closing figures were 23,951.70 for the Nifty and 79,218.05 for the Sensex.

In the pre-open session, the Sensex started at 79,347.91, gaining 129.86 points or 0.16%. Meanwhile, the Nifty was trading at 23,969.70, up by 18.00 points, reflecting a slight increase of 0.08%.

On Thursday, Capital markets regulator Sebi imposed a fine of Rs 6 lakh on EbixCash Ltd and its promoter entity, Ebix Inc, for violating disclosure norms related to the company’s proposed initial public offering (IPO). EbixCash, a financial services company, had filed its draft red herring prospectus (DRHP) in March 2022 but withdrew it in December of the same year. The penalties were imposed after Sebi’s investigation into alleged violations of its ICDR (Issue of Capital and Disclosure Requirements) rules. The order followed Sebi’s discovery of non-compliance by EbixCash, Ebix Singapore, and Ebix Inc during its review of the DRHP issued in March 2022.

According to a Reuters report, the number of Americans filing new jobless claims fell more than expected last week, signalling a gradual cooling in labor market conditions. Initial claims for state unemployment benefits dropped by 22,000 to a seasonally adjusted 220,000 for the week ending Dec. 14, below economists' forecast of 230,000. While claims have become more volatile, complicating the ability to gain a clear view of the labor market, various indicators, including job openings and claims, suggest that labor conditions are much looser than before the COVID-19 pandemic, with the labor market slowing in an orderly manner.

Ola Electric, a leader in India’s electric vehicle (EV) market, has announced an expansion plan to open 4,000 new stores in December. The move is a part of the company's campaign which aims to make EVs more accessible to every Indian household.

In a video message posted on his official social media handle, Bhavish Aggarwal, CEO and co-founder of Ola Electric, revealed that the expansion would cover every town, city, 'tehsil', and 'taluka' in India, ensuring that each region has both a sales and service center for Ola Electric products. "Every single Indian can buy an EV for his or her future," Aggarwal said, emphasizing the firm's goal to bring affordable electric mobility to all corners of the country.

GIFT Nifty on the NSE IX dropped by 62.5 points, or 0.26%, to 23,944.50, suggesting a bearish start for Dalal Street on Friday.

During Thursday’s session, Wall Street saw mixed results as the Dow managed to break its longest losing streak since the 1970s with a modest gain, while the S&P 500 and Nasdaq posted slight losses. The markets remained under pressure due to rising Treasury yields, as investors shifted focus to the upcoming release of the personal consumption expenditures (PCE) price index, the Federal Reserve’s key inflation metric. Fed Chair Jerome Powell recently signaled that inflation likely remains above the central bank’s target, adding to concerns after the Fed’s decision to cut interest rates earlier this week. The turbulence has left major indexes on track for significant weekly declines, reflecting cautious sentiment across markets.

On Thursday, the Federal Reserve's 25 basis points rate cut triggered a sharp sell-off in Indian markets. The Sensex plunged 964.15 points to close at 79,218.05, while the Nifty dropped 247.15 points to 23,951.70. Key laggards included Bajaj Finserv, JSW Steel, Asian Paints, Reliance, and Tech Mahindra, with only Sun Pharma, HUL, and Power Grid ending in the green.

However, the pharmaceutical sector stood out, with Nifty Pharma rising 0.70%. Top performers included JB Chemicals, IPCA Laboratories, Dr Reddy's, Torrent Pharma, and Abbott India, bucking the broader market trend.