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Published 07:59 IST, December 23rd 2024

Stock Market LIVE: Sensex Up By 400 Pts, Nifty Above 23,800; All Sectors In Green

Indian stock markets saw a strong start on Monday, with the Sensex gaining 523.51 points and Nifty up 167.85 points. Financial, IT, and FMCG stocks led the rally, while the pharma sector underperformed. The rupee remained flat against the dollar.

Reported by: Business Desk
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Stock market news | Image: Republic World

Indian stock markets opened on a positive note this Monday, buoyed by mixed global cues. The Sensex and Nifty both posted solid gains in early trade, recovering from a volatile previous week. Sectoral indices followed suit, with the banking and IT sectors leading the rally, while the pharma index was the sole laggard.

 

Live Blog

After a week of significant volatility, Monday’s market performance offered a refreshing recovery, led by financial and IT stocks. The ongoing global and domestic cues will continue to shape the market's trajectory in the coming days. Please stay tuned with Republic Business to catch the latest stock market news, only at RepublicBiz.com. 
 

 


13:14 IST, December 23rd 2024

DEV IT Launches Advanced Cybersecurity Solutions

DEV IT (Information Technology Limited) has announced the introduction of a new service line—Advanced Cybersecurity Solutions—designed to address the growing global demand for enhanced security. Following the news, the company’s stock has risen by 4.31%, currently trading at 158.55, up 6.55 points from the previous close. The stock opened at 151.50 today.


13:11 IST, December 23rd 2024

SEBI: Suspended Trading In BGDL

Markets regulator Sebi on Monday suspended trading in Bharat Global Developers Ltd (BGDL) for financial misrepresentation, misleading disclosures, price manipulation, and offloading shares at inflated prices.



13:01 IST, December 23rd 2024

Market Performance Overview


Broad market indices are showing a positive trend, with gains in the Nifty Midcap 50, Nifty Midcap 100, Nifty 100, and Nifty 50. However, the Nifty Smallcap 100 and Nifty Smallcap 50 are currently underperforming, registering losses.


12:59 IST, December 23rd 2024

SENSEX - Top Gainer & Losers

Top Gainer - ICICI Bank, Tata Motors, Bharti Airtel, Axis Bank and Reliance 
Top Losers - L&T, Nestle India, HCL Tech, Maruti, Power Grid & Zomato 



12:47 IST, December 23rd 2024

Hindustan Construction Settles Claims with Major Client

Hindustan Construction Company (HCC) has successfully completed a claims settlement with a major client for Rs 180 crore. Following the news, the stock is currently trading at Rs 41.87, down by Rs 1.64 or 3.77%, after opening at Rs 44.06.


12:29 IST, December 23rd 2024

Zomato To Join Sensex

Online food delivery giant Zomato is set to join the benchmark BSE Sensex index, with the inclusion taking effect from today, December 23. The change comes as part of the routine reconstitution announced by Asia Index Private Ltd, a subsidiary of BSE. 



12:28 IST, December 23rd 2024

Unimech Aerospace IPO GMP


The Unimech Aerospace IPO is highly anticipated by the market and currently trades 61.15 per cent higher than its IPO price in the grey market. The grey market premium or GMP of the Unimech Aerospace IPO currently stands at Rs 480, taking the price per equity share to Rs 1,265 against the IPO price of Rs 785.00 This marks a 61.15 per cent uptick in the price for the IPO. 


12:28 IST, December 23rd 2024

ICICI Bank Share Price Target 2025

ICICI Bank , India’s second-largest private bank with a leadership position across financial services, has been recommended as a 'BUY' by Mirae Asset Sharekhan.

The brokerage firm has revised its price target to Rs 1,550, with the current market price (CMP) at Rs 1,286.



11:54 IST, December 23rd 2024

Nifty Realty Surges

The Nifty Realty index saw a notable rise of 1.68%, driven by significant gains in key real estate stocks, including Lodha, Phoenix Ltd, Brigade, DLF, Oberoi Realty, and Sobha. These companies led the rally, contributing to the overall strength in the sector.


11:50 IST, December 23rd 2024

BigBloc Secures Rs 4.5 Crore Work Order for Semiconductor Factory


BigBloc Construction Limited's subsidiary, Siam Cement Big Bloc Construction Technologies Pvt. Ltd., has been awarded a Rs 4.5 crore work order, inclusive of GST, by Tata Projects Limited for the supply and installation of 100 mm AAC panels at a semiconductor factory in Sanand, Ahmedabad. The project is scheduled for completion within three months from the work order or the Notice to Proceed.



11:46 IST, December 23rd 2024

India VIX Down

India VIX down by 8.55%, Volatility Index is a measure of market’s expectation of volatility over the near term. 


11:39 IST, December 23rd 2024

Shriram Finance Announces Record Date for Share Split


Shriram Finance has set January 10 as the Record Date for determining the entitlement of equity shareholders for the subdivision/split of their equity shares.

Each equity share with a face value of Rs. 10/- (Rupees Ten Only) will be subdivided into 5 (five) equity shares of face value Rs. 2/- (Rupees Two Only) each, fully paid-up. The new shares will rank pari-passu in all respects with the existing shares.



11:22 IST, December 23rd 2024

Sensex Bounces Back


After a tumultuous week, the Indian stock market has seen a strong recovery today, with the Sensex showing positive momentum. Out of the 30 stocks in the index, only two—TCS and Zomato—are in the red, while the rest are trading in the green. Leading the rally are ITC, Tech Mahindra, Bajaj Finance, HDFC Bank, Tata Steel, Reliance, and Axis Bank, with the Sensex heatmap reflecting an overall positive sentiment.


11:09 IST, December 23rd 2024

Nifty Crosses 23,800 Mark Amid Positive Sectoral Performance

Nifty has finally crossed the 23,800 level after a turbulent previous week. The index opened today at 23,738.20 and is currently trading at 23,821.40, up by 233.90 points (0.99%). The good news is that all sectoral indices are in the green, with Nifty Realty leading the gains at 1.88%. Following closely behind are the Bank, Auto, FMCG, Metal, and Oil & Gas sectors.



10:54 IST, December 23rd 2024

Reliance Industries Limited Acquisition Update

Reliance Digital Health Limited (RDHL), a wholly owned subsidiary of Reliance Industries Limited (RIL), has announced its decision to acquire a 45 per cent equity stake in the US-based healthcare company Health Alliance Group Inc. (HAGI) for $10 million. 


10:53 IST, December 23rd 2024

Piramal Enterprises’ Shares Surge

Piramal Enterprises' shares saw a significant jump after the company's Board of Directors approved a plan to raise up to Rs 2,000 crore through the issuance of Non-Convertible Debentures (NCDs).



10:48 IST, December 23rd 2024

Aurobindo Pharma Shares Surge After UK Approval for Cancer Drug

Aurobindo Pharma’s UK subsidiary, CuraTeQ Biologics, has received regulatory approval from the Medicines and Healthcare products Regulatory Agency (MHRA) for Bevgolva, a biosimilar of bevacizumab. Bevgolva is used in the treatment of several cancers, including metastatic colorectal cancer.


10:41 IST, December 23rd 2024

Nifty Metal Surge

Nifty Metal Leads with 1.38% Gain; Top Gainers: Jindal Steel, SAIL, JSW Steel, Tata Steel, Hindalco, and Adani Enterprises
 



10:32 IST, December 23rd 2024

Zomato Shares Slide Despite Indian Market Rebound

Although the Indian market showed signs of recovery after a tough week, Zomato's stock continues to slide. The food delivery giant opened at Rs 273.95 today and is currently trading at Rs 280.60, down by Rs 1.25 or -0.44%.


10:20 IST, December 23rd 2024

SRM Contractors Shares Surge 6% on Rs 106 Crore NHAI Order Win

SRM Contractors' stock rose nearly 6%, reaching Rs 390.75 per share, after the company announced securing a Rs 105.96 crore order from the National Highways Authority of India (NHAI). The contract is for the construction of a Vehicular Underpass (VUP) at Sorath Junction in Gujarat, aimed at long-term blackspot rectification under the EPC mode. As of 10:20 AM, the stock is trading at Rs 378.50, up 5.95 points (+1.60%) from the previous close, after opening at Rs 390.45.



10:01 IST, December 23rd 2024

India Cements Soars Nearly 11% Following CCI Approval of UltraTech Cement Stake Acquisition

 

Shares of India Cements surged nearly 11%, reaching Rs 376.20 per share, after the Competition Commission of India (CCI) approved UltraTech Cement’s Rs 3,954 crore acquisition of a 32.72% stake in India Cements. The deal, announced in July, is aimed at boosting UltraTech's foothold in the southern cement market, particularly in Tamil Nadu.


10:00 IST, December 23rd 2024

L&T Technology Services Expands Collaboration with Siemens to Foster Innovation


L&T Technology Services (LTTS) has announced an expansion of its decade-long collaboration with Siemens Digital Industries Software (DISW), a global leader in digital transformation software. This enhanced partnership will focus on strengthening their Centre of Excellence (CoE), aimed at incubating advanced technologies across sectors such as automotive, aerospace, electronics, energy, healthcare, and industrial machinery. The expansion will drive innovation and further solidify the partnership’s role in accelerating digital transformation across industries.



09:59 IST, December 23rd 2024

Larsen & Toubro Secures Major K9 Vajra-T Contract for Indian Army

Larsen & Toubro (L&T) has been awarded a significant contract by the Ministry of Defence, India, to supply K9 Vajra-T Self-Propelled Artillery Platforms to the Indian Army. The K9 Vajra-T, a 155 mm, 52-calibre tracked system, is co-developed with Hanwha Aerospace and tailored to Indian operational needs across diverse terrains.

L&T had previously secured a contract in 2017 for the first batch of 100 platforms, which were delivered ahead of schedule. The K9 Vajra-T has since demonstrated exceptional performance, reinforcing L&T’s capabilities in manufacturing advanced defence systems for India’s modernization efforts.


09:40 IST, December 23rd 2024

Rupee Flat

The Indian Rupee opened almost flat in early trading, gaining 1 paisa to reach 85.03 against the US Dollar. 



09:37 IST, December 23rd 2024

Top Gainers and Losers on NSE in Early Trade

In early trade, the top gainers on the NSE include Shriram Finance, Trent, HDFC Bank, JSW Steel, and Bharti Airtel. On the other hand, the top losers are led by HDFC, HDFC Life Insurance, Cipla, SBI Life Insurance Company, Sun Pharma, and Hero MotoCorp.


09:35 IST, December 23rd 2024

Sectoral Indices Show Positive Momentum on NSE

In early trade, all sectoral indices on the NSE are in the green, with the Nifty Bank leading the pack, up by 1.03%. It is followed by gains in Financial Services, FMCG, IT, Media, and Metal sectors. The only sectoral index in the red is Pharma, down by 0.10%.



09:32 IST, December 23rd 2024

Top Gainers on Sensex in Early Trade

In the early trade today, the top gainers on the Sensex include Bajaj Finance, HDFC Bank, Bharti Airtel, ICICI Bank, Tata Steel, Reliance, ITC, Tech Mahindra, HUL, TCS, and L&T. Among the Losers performers, M&M, Power Grid, Bajaj FinServ, Sun Pharma, NTPC, and Zomato also saw significant declines.


09:20 IST, December 23rd 2024

Sensex, Nifty Open Higher

Today, Indian indices rose at the market open, driven by positive mixed global signals. The Sensex gained 523.51 points, or 0.67%, reaching 78,565.10, while the Nifty advanced 167.85 points, or 0.71%, to 23,755.35.



09:05 IST, December 23rd 2024

Pre-Open Session: Stock Market Opens in Green

In the pre-open session, the stock market started on a positive note, with the Sensex trading at 78,475.83, up by 434.24 points or 0.56%. As for the Nifty, it stood at 23,705.10, gaining 117.60 points, or 0.5%.


09:03 IST, December 23rd 2024

IndusInd Bank Fined Rs 27.30 Lakh by RBI

IndusInd Bank has been slapped with a penalty of Rs 27.30 lakh for failing to comply with certain provisions of norms related to 'interest rate on deposits', the Reserve Bank of India (RBI) announced on Friday. The penalty follows a statutory inspection conducted by the RBI to evaluate the bank’s financial position as of March 31, 2023. A notice was issued to the private sector lender regarding the non-compliance.



08:53 IST, December 23rd 2024

Maruti Suzuki Set to Launch eVitara

Maruti Suzuki India announced on Friday its plans to launch a comprehensive electric vehicle (EV) ecosystem, which will include charging stations and home charging solutions, alongside its first electric offering, the eVitara. The company revealed that it intends to showcase the production-ready eVitara at the upcoming Bharat Mobility Global Expo 2025. The eVitara, a global model made in India for the world, was recently unveiled by Suzuki Motor Corporation in Milan, Italy.


08:52 IST, December 23rd 2024

Cipla Fined Rs 1.1 Crore by GST Authority

Pharma giant Cipla Ltd. announced on Friday that it has been penalized over Rs 1 crore by the GST authority for an alleged inadmissible credit claim. In a regulatory filing, the company revealed that it had received an order, dated December 18, 2024, from the GST authority, imposing a fine of Rs 1,11,94,324 under the applicable provisions of the Central Goods and Services Tax Act, 2017.



07:50 IST, December 23rd 2024

Positive Start on the Horizon as GIFT Nifty Rises


GIFT Nifty on the NSE IX traded higher by 147.5 points, or 0.62%, at 23,783.50, signalling a strong positive start for Dalal Street on Monday.


07:49 IST, December 23rd 2024

Wall Street Update

On Friday, S&P 500, Nasdaq and Dow Jones ended in green. Trading on Friday is expected to be relatively muted, rounding off a turbulent week for the markets. December is also typically a strong month for US equities, with the S&P 500 posting gains 83% of the time during presidential election years, Bank of America notes. This optimism comes despite a rocky start to the month, with the Dow experiencing its longest losing streak since 1974 and shedding 1,100 points last Wednesday after the Federal Reserve signaled fewer rate cuts for 2025 than expected. Month-to-date, the Dow is down 4.6%, the S&P 500 has fallen 1.7%, while the Nasdaq Composite has managed a 1.8% gain.



08:00 IST, December 23rd 2024

Indian Stock Markets Witness Sharp Friday Sell-Off, Nifty and Sensex Decline Over 1.5%

Indian stock markets experienced a steep sell-off on Friday, with major indices on the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) closing substantially lower. The Nifty 50 Index closed at 23,587.50, registering a decline of 1.52%. It opened at 23,960, touched an intraday high of 24,065.80, and slipped to an intraday low of 23,537.35. Similarly, the Sensex ended the session at 78,041.59, down by 1.49%. It opened at 79,335.48, reached a high of 79,587.15, and fell to a low of 77,874.59 during the day. Among the top performers were JSW Steel, Nestle India, and ICICI Bank, while major losers included Tech Mahindra, IndusInd Bank, Axis Bank, Larsen & Toubro (L&T), State Bank of India (SBI), and Power Grid Corporation.  

Updated 13:14 IST, December 23rd 2024