Stock Market LIVE: Sensex Drops 700 Points, Nifty Close Below 24,000; IT and Pharma Stocks Decline

The markets ended lower on Thursday, with the Nifty slipping 199.95 points (0.83%) to close at 23,988.70, falling below the 24,000 mark, while the Sensex dropped 784 points (0.98%) to settle at 79,159.71. Despite opening strong, broader indices faced heavy selling pressure, led by losses in SBI, Axis Bank, Asian Paints, Bajaj Finance, Infosys, TCS, and ICICI Bank. However, stocks like Tata Motors, Nestle India, Titan, NTPC, and IndusInd Bank emerged as gainers. On the Nifty, ONGC, SBI Life, and Titan topped the charts, while Wipro, HDFC Bank, and Adani Ports dragged the index lower.

Somi Conveyor Beltings announced that the Company has secured order amounting to Rs. 1242.03 Lakhs from South Eastern Coalfields Limited  of Steel Cord Conveyor Belts

KEC International Ltd., a global infrastructure EPC major, an RPG Group Company, has secured new orders of Rs. 1,097 crores in its Transmission and Distribution (T&D) business:
UAE: Project for setting up of 400 kV Transmission lines
Americas: Supply of towers, hardware and poles across the United States, Mexico and Brazil 

JM Financial is bullish on Varun Beverages, the company that handles the bottling of PepsiCo. In its special report on the company, the brokerage house has initiated an 'Buy' rating on Varun beverages stocks.

Afcons Infrastructure saw a 3.93 per cent increase to Rs 556 following the receipt of a Letter of Intent (LoI) from the Ministry of Defence and Defence Research and Development Organization (DRDO) of the Government of India, valued at Rs 1,084.54 crore including GST.

Biocon Pharma Limited, a wholly owned subsidiary of the Biocon Ltd, has received approval for Tacrolimus capsules in 0.5mg, 1mg and 5mg strengths, from the National Medical Products Administration (NMPA), China. Tacrolimus is an immunosuppressant used in the treatment of organ transplant patients, which reduces the body’s ability to reject a transplanted organ. 

Issue Size: Rs 410.05 crore
Subscription Dates: January 6-8, 2025
Price Band: Rs 133 to Rs 140 per share
Lot Size: Minimum 107 shares (retail investment: Rs 14,980)
Tentative Listing Date: January 13, 2025 (As per market tracker website)
Lead Managers: IIFL Securities Ltd, Motilal Oswal Investment Advisors Limited
This IPO includes a fresh issue of 1.50 crore shares (₹210 crore) and an offer for sale of 1.43 crore shares (₹200.05 crore).

Issue Size: Rs 25.12 crore
Subscription Dates: January 1-3, 2025
Price Band: Rs 51 - 52 per share
Lot Size: Minimum 2,000 shares (retail investment: Rs 1,04,000)
Tentative Listing Date: January 8, 2025  (As per market tracker website)
Lead Manager: Shreni Shares Limited
 

Nifty Pharma falls by 1.21%, leading the loss are Ajanta Pharma, Aurobindo Pharma, Laurus Labs, Divi's Laboratories, Lupin, Cipla & Dr. Reddy Laboratories 

India's VIX is Down by almost 3%. The Volatility Index is a measure of the market’s expectation of volatility over the near term. 

RITES Shares surged 4%, following the news of Rs 69.78 cr from SAIL. Also, its subsidiary REMC signed an MoU with IRFC for power project supplying to the railways 

Yes Bank's loans and advances rose 4.2% quarter-on-quarter (QoQ) to Rs 2,45,035 crore as of December 31, 2024, compared to Rs 2,35,117 crore on September 30, 2024. Year-on-year (YoY), loans grew 12.6% from Rs 2,17,523 crore. Deposits remained flat QoQ at Rs 2,77,199 crore, slightly lower than Rs 2,77,214 crore in September 2024. However, deposits increased 14.6% YoY from Rs 2,41,831 crore.

Afcons Infrastructure Limited has received a Letter of Intent from the Govt of India, Ministry of Defence, Defence Research and Development Organisation (DRDO) for the execution of work related to the augmentation of MTC, creation of SAF, and workshop equipment for the ship lift facility (AMCSWF) at Visakhapatnam 

Gainers - Tata Motors, Titan, Maruti, NTPC and Nestle India

Losers - Kotak Bank, M&M, TCS, HDFC Bank and Zomato

Godrej Animal Feed business is launching “Godrej Pride Hog”, a scientifically developed Pig Feed range designed to provide optimal nutrition at each stage of a pig’s lifecycle.

Mamaearth has teamed up with Zepto, India’s fastest growing consumer internet platform. 

Nifty Media up by 2%, leading the gains are SareGama, Hathway, DistTV, Sun TV, PVR Inox and Tips Music 

Hero MotoCorp's shares fell over 3% following a 17.5% year-on-year decline in total sales for December, with volumes dropping to 3.24 lakh units from 3.93 lakh units in December 2023. Domestic sales were hit hard, falling 22% to 2.94 lakh units, compared to 3.8 lakh units last year. However, the company saw a significant surge in exports, which rose by 91% to 30,754 units, up from 12,110 units in the same period last year. Despite the domestic setback, the strong export performance highlights growth in international markets.

Indian Railway Finance Corporation (IRFC) has entered into a strategic partnership with Railway Energy Management Company Ltd (REMCL) to finance renewable energy projects for Indian Railways. This collaboration aims to reduce dependence on fossil fuels and support the Indian Railways' goal of achieving net-zero carbon emissions by 2030. Following the announcement, IRFC shares have witnessed significant growth over the past two years.

M/s. Sun Drops Energia Private Limited, a subsidiary of KPI Green Energy Limited, has received Letters of Award/Intent for development of solar power projects with a cumulative capacity of 32.15 MW under the ‘Captive Power Producer (CPP)’ business segment of the Company

In the sectoral indices, Nifty IT is declining, followed by Bank, Auto, Financial services, FMCG, Pharma, Realty. In the gaining streak, Media is leading the rally, followed by PSU Bank, Pharma and Oil Gas
 

Nifty IT declines by 1%, leading the loss are Tech Mandira, Wipro, TCS, Infosys, Co forge and HCL Tech 

Western Carriers India Ltd (WCIL) bagged a material handling order worth Rs. 139 crores from Vedanta Ltd. 

Shares of Avenue Supermarts, led by Radhakishan Damani, soared 15%, hitting the upper circuit limit, following a robust 17.5% increase in standalone revenue for Q3 FY25. The retail chain operator reported revenue of Rs 15,565.23 crore, up from Rs 13,247.33 crore in the same period last year. As of December 31, 2024, the company had 387 stores in operation.

Gainers - NTPC, Tata Motors, Titan, Nestle India & Tata Steel
Losers - Reliance, L&T, Zomato, Asian Paint and TCS 

Indian stock markets opened slightly lower on January 3, following mixed cues from global markets. The Sensex began the day at 80,072.99, while the Nifty opened at 24,196.40.

In the pre-open session, the Sensex is poised to open higher, indicating an increase of 200 points at 80,170.24 (+226.53, +0.28%). Meanwhile, the Nifty is expected to start at 24,333.75, up by 145.10 points (+0.6%).

Adani Ports and Special Economic Zone Ltd (APSEZ), India's largest port operator, achieved significant growth in December 2024, handling 38.4 million metric tonnes (MMT) of total cargo. This represents an 8% year-on-year (YoY) increase, driven primarily by a remarkable 22% YoY growth in container volumes and a 7% increase in liquid and gas cargo.
 

Two-wheeler major Hero MotoCorp on Thursday reported a 7.5 per cent rise in total sales at 59,11,065 units on 2024 as compared to 54,99,524 units in 2023.

Ketan Parekh, who was prohibited from dealing in the securities and debarred from associating with the securities market for a period of 14 years has been allegedly at the epicentre of yet another fraudulent scheme. According to a detailed order and show-cause notice issued by the Securities And Exchange Board of India ( SEBI ), Parekh and Rohit Salgaonkar, along with other entities have been served a notice amounting to a whopping Rs 65.77 Crore.

Albinder Dhindsa, founder and CEO of Blinkit, posted on X announcing the commencement of the 10-minute ambulance service via Blinkit. He also listed some of the features of the ambulance, starting from the facilities available to the cost-effective monetary amount.

Bharti Airtel has acquired 26 per cent stake in AMP Energy Green Three Private Limited. 

The Securities and Exchange Board of India ( SEBI ), on Thursday, denied the settlement applications by Zee Entertainment Enterprises Limited (ZEEL) CEO Punit Goenka, and Essel Group Chairman Subhash Chandra. In a detailed order issued on its website, the market regulator said that it will look into the matter in more detail.

Dollar Industries is going to raise funds of Rs. 350.00 Crores by way ofthe  issue of equity shares either by way of Qualified Institutional Placement (QIP)

The public sector oil marketing firm Indian Oil Corporation (IOCL) will supply fuelling services at Noida International Airport (NIA) in Jewar, Uttar Pradesh's Gautam Buddha Nagar district.

GIFT Nifty indicated a subdued start for Indian markets on Friday, trading lower by 111 pts or 0.46 per cent, at 24,186 in the early session. The negative movement suggests that Dalal Street may open on a weaker note, reflecting cautious sentiment among investors.

Asia-Pacific markets opened on a positive note Friday, diverging from Wall Street’s losses in the first trading session of 2025, which were dragged down by weakness in tech stocks. Hong Kong's Hang Seng index and mainland China's CSI 300 both posted gains, recovering from the previous session’s declines.

South Korea’s Kospi and Kosdaq indices led the regional rally, supported by a sharp rise in SK Hynix shares after the company announced plans to position itself as a comprehensive AI memory provider at an upcoming tech event. Australia’s market also saw an uptick, with the S&P/ASX 200 advancing, while Japan’s markets remained closed for a holiday.

The US stock market kicked off 2025 on a shaky note, with all major indices ending the first session of the year in negative territory. After starting the day with gains, markets reversed course as the session progressed, erasing earlier momentum. Investors appeared to take profits in prominent 2024 gainers, including tech giants like Apple and Tesla, contributing to the decline.