Stock Market LIVE: Nifty Below 24,400; Sensex Slips 900 Points

Top Gainers:
ITC
CIPLA
Hindustan Unilever
Tata Motors

Top Losers:
Shriram Finance
Bharti Airtel
Grasim Industries
JSW Steel

Nazara Tech has announced a significant licensing agreement with Moonbug Entertainment, a global leader in children’s entertainment and part of Candle Media.

The stock market continues to trade in the red, with key indices showing a sharp decline as of 2 PM today.

The Sensex is currently at 80,793.85, down 954.72 points or 1.17% from its previous close. The index opened at 81,511.81 earlier in the day.

Meanwhile, the Nifty is trading at 24,363.90, a drop of 304.35 points or 1.23%. The day's movement for Nifty includes:

Open: 24,584.80
High: 24,624.10
Low: 24,323.60

Gainers: ITC, Hindustan Unilever, Tata Motors.

Losers: Bharti Airtel, JSW Steel, TCS, Nestlé India, Asian Paints, Reliance Industries, Bajaj Finserv, L&T, HDFC Bank, Power Grid, ICICI Bank, Axis Bank, Kotak Bank.

On December 16, 2024, NMDC announced the issuance and proposed allotment of 586.12 crore equity shares with a face value of ₹1 each as bonus shares. The bonus issue will be in the ratio of 2 new equity shares for every 1 existing share held. The record date for this allotment has been set for December 27, 2024.

The Nifty Oil & Gas index witnessed a downturn, led by losses in key stocks including Mahanagar Gas (MGL), Oil India (OIL), Indraprastha Gas (IGL), Gujarat State Petronet (GSPL), Reliance Industries, Indian Oil Corporation (IOC), Bharat Petroleum (BPCL), GAIL, and ONGC.

BCL Industries' subsidiary, Svaksha Distillery, has received consent to establish a 75 KLPD bio-diesel and oil extraction plant at its Kharagpur unit, with a project cost of Rs 150 crore.

The company also secured environmental clearance for a 150 KLPD ethanol plant at its Bathinda distillery, with work set to begin soon. Additionally, the construction of a 75 KLPD bio-diesel plant at Bathinda is progressing swiftly.

Capacite Infraprojects shares soared to a new all-time high today, climbing over 2%. The stock opened flat at Rs 441 and later surged to Rs 451.95 on the NSE. By 12:45 PM, it was trading at Rs 445.65, reflecting gains of more than 1%. During the session, 7.26 lakh shares changed hands. The small-cap company specializes in engineering, procurement, and construction services.

DAM Capital, Transrail Lighting, Sanathan Textiles, Concord Enviro Systems, and Mamata Machinery are gearing up to launch their initial public offerings (IPOs) on Thursday, December 19, opening doors for public subscription.

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The demerger of ITC's hotel business is set to become effective from January 1. 

TARC shares have been locked at the lower circuit after the Securities and Exchange Board of India (SEBI) mandated a forensic audit of the company's financial statements for the fiscal years 2020-21 to 2022-23. SEBI raised concerns over the manner in which the company disclosed its financial information and conducted business transactions, suggesting that these actions may be harmful to investors' interests and the securities markets.
 

BSE Sensex slips 900 points, leading the loss are Bharti Airtel, TCS, Power Grid, L&T, Axis Bank, Reliance, NTPC, Kotak Bank, HDFC Bank, ICICI Bank, M&M, Nestle India and HCL Tech

Nifty Bank down by 1.41% leading the loss are Federal Bank, SBI, IDFC First Bank, PNB, Bank of Baroda, Canara Bank, Axis Bank, Kotak Bank and HDFC Bank 

PC Jeweller's shares surged to Rs 19.25 following the 1:10 stock split announced in November. The company has witnessed remarkable growth, with its stock gaining 477% over the past year and 236.6% in the last six months.

 The Nifty index fell below the 24,400 level, reaching a low of 24,383.75 during the session.

Several key sectoral indices, including Nifty Bank, FMCG, IT, Metal, Pharma, and Auto Financial Services, have experienced a decline.

BSE Auto Index Falls led by TVS Motors, Maruti Suzuki, and Sundram Fasteners Among Top Losers

Nifty Media Index rises, with PVR Inox, Nazara Technologies, and Saregama India Leading the Gains

Top Gainer - Cipla, Tata Motors, Adani ports, Wipro and Bharat Electronics Limited

Top Losers - Shriram Finance, Grasim, Relance, Britannia and Bajaj Finserv

In the early trading hours, the top gainers on the Sensex are Tata Motors, Adani Ports, Tech Mahindra, HCL Technologies, Hindustan Unilever, Bajaj Finance and TCS.

On the other hand, the top losers include Reliance, Nestle India, Bharti Airtel, JSW Steel, L&T, ICICI Bank, Titan, Kotak Bank, and Axis Bank.

Zomato's head of business finance, Hemal Jain, has stepped down to pursue other opportunities. This marks another major leadership departure, following co-founder and chief people officer Akriti Chopra's resignation in September.

The stock markets opened on a negative note today with the Sensex falling by 289.69 points, settling at 81,458.88, a decline of 0.35%. The Nifty also saw a dip of 72.00 points, opening at 24,596.25, down by 0.29%. The previous day's close was 24,651.55 for the Sensex and 81,748.57 for the Nifty.

Nifty and Sensex opened in red in the in the pre-opening session. The Sensex dropped 110.67 points, or 0.14%, to 81,637.90, while the Nifty fell 180.10 points, or 0.73%, to 24,488.15.

The Fund Raising Committee of the Company, in its meeting held on December 16, 2024, approved key steps for its Qualified Institutional Placement (QIP), following board approval on October 4, 2024, and shareholder approval via a special resolution on November 22, 2024. The floor price for the QIP was set at Rs 2,206.49 per share,  with an option to offer a discount of up to 5%. The ‘Relevant Date’ for the QIP was fixed as December 16, 2024. 

Mankind Pharma's Fund Raising Committee has approved a Rs 3,000 crore Qualified Institutions Placement (QIP). The floor price is set at Rs 2,616.55 per share, with an option for up to 5% discount. The issue opens on December 16, 2024, following shareholder approval earlier this year.

HDFC Bank has come under scrutiny again, receiving its second warning letter from the Securities and Exchange Board of India (Sebi) within a week. The latest notice pertains to non-compliance with disclosure regulations regarding the resignation of a senior management employee, Arvind Kapil.

Jefferies' India Outlook forecasts the Nifty index touching 26,600 by December 2025, translating to a 10% total return.

‘Our Dec-25 Nifty target of 26,600 implies 10% total return. OWT banks, telcos, two-wheelers, healthcare, real estate, IT & power,’ the report reads.

 Blackstone has emerged as the leading bidder in negotiations to acquire a 20 per cent stake in Haldiram Snacks, with a potential deal valued at around $1.6 billion, according to a Bloomberg report. The private equity giant is in talks to team up with Singapore's state investment firm GIC Pte and the Abu Dhabi Investment Authority (ADIA) for the transaction, which could see India’s largest snack maker valued at $8 billion.

The annual rate of inflation based on all India Wholesale Price Index (WPI) number is 1.89 per cent (Provisional) for the month of November, 2024 (over November, 2023). Positive rate of inflation in November, 2024 is primarily due to increase in prices of food articles, food products, other manufacturing, textiles, machinery & equipment, etc. 

On Monday, shares of One 97 Communications (Paytm) surged past the Rs 1,000 mark during market hours, marking a significant recovery and strengthening investor confidence.

JSW Energy has announced securing multiple renewable energy projects in the commercial and industrial (C&I) power market, taking its total locked-in generation capacity to 20 GW. According to the company, its locked-in C&I renewable capacity now stands at 3.1 GW, which includes 2,654 MW for JSW group captive use and 445 MW for third-party C&I consumers. The company further noted that its current operational C&I capacity is 488 MW.
 

On Monday, Anil Agarwal’s diversified mining giant, Vedanta , has declared a fourth interim dividend of Rs 8.5 per share for the financial year 2024-25. This decision, made at a board meeting on December 16, will see a total payout of Rs 3,324 crore, as per an official exchange filing.

This latest dividend brings Vedanta's total payout for FY25 to a notable Rs 16,799 crore. The record date for dividend distribution has been set for December 24, 2024. Payments will be made as per the stipulated schedule.

On Monday, the Dow slipped for the eighth consecutive day, marking its longest losing streak since 2018, while the Nasdaq managed to gain and hit a new record high. The S&P 500 also edged upward, showing modest strength.

Notably, the gains for the S&P 500 and Nasdaq came despite a pullback in market heavyweight Nvidia, which has struggled this month even as other chip stocks like Broadcom reached fresh highs.

Meanwhile, tech giants Alphabet, Apple, and Tesla all climbed to new all-time highs, with the tech and consumer discretionary sectors closing at record levels.

Now focused on the Federal Reserve’s final policy meeting of the year, with a rate decision expected at the conclusion of the two-day gathering on Wednesday.
 

The Indian stock markets closed in the red on Monday, with both Sensex and Nifty posting declines of 0.47%.

Sensex ended at 81,748.57, down by 384.55 points (-0.47%).
Top Gainers: IndusInd Bank, Bajaj Finance, Power Grid, M&M, Axis Bank.
Top Losers: ICICI Bank, Kotak Bank, Tata Motors, HDFC Bank, Nestle India, Adani Ports, Titan.

Nifty closed at 24,651.55, slipping 116.75 points (-0.47%) after opening at 24,753.40.
Top Gainers: Dr Reddy's, IndusInd Bank, HDFC Bank, Power Grid, Bajaj Finance.
Top Losers: Titan, Hindalco, Adani Ports, TCS, BPCL.