Stock Market LIVE: Nifty Closed Below 24,700, Sensex Falls 385 Points

The Indian stock markets closed in the red today, 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.

One 97 Communications (Paytm) shares surged past the Rs 1,000 mark today, marking a significant milestone. The stock opened at Rs 985.35.

On January 7, Jindal Worldwide will review the proposal for bonus shares.

LTIMindtree launches AI-driven Cyber Defense Resiliency Center to help clients build resilient enterprises

 Prudential Sugar Corporation entered into Memorandum of Understanding with the Government of Rajasthan for establishing 100 MW Solar Park at Bikaner Rajasthan. 

The Nifty Realty index is leading among all sectoral indices, driven by strong performances from key stocks such as Oberoi Realty, Prestige, Lodha, Phoenix Mills, DLF, Brigade Enterprises, Godrej Properties, and Sobha Realty.

PC Jeweller Limited, renowned for its hallmark gold, diamond, and silver jewellery, has approved a stock split.

The company’s board has decided to split 1 equity share with a face value of Rs 10 each into 10 equity shares with a face value of Rs 1 each. The company set December 16, 2024, as the record date for the stock split

Nifty Metal: Declined by 1.05%
Nifty IT: Fell by 0.77%
Nifty Oil & Gas: Dropped by 0.72%
Other sectors such as Nifty Bank, Auto, Financial Services, and FMCG also witnessed declines.

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. 

At 12 PM, the SENSEX is trading at 81,628.23, down by 504.89 points (-0.61%).
Top Gainers: IndusInd Bank, Power Grid, and Bajaj Finance.
Top Losers: Titan, Adani Ports, JSW Steel, TCS, and Tata Steel.

The NIFTY is at 24,622.70, down by 145.60 points (-0.59%).
Top Gainers: Indian Bank, Power Grid, Bajaj Finance, Dr. Reddy’s, and HDFC Life.
Top Losers: TCS, UltraTech Cement, BPCL, Titan, and Tech Mahindra.

Zydus Lifesciences has announced that Zydus Animal Health and Investments Limited (ZAHL), its wholly owned subsidiary, has exercised its Put Option right to sell 65,06,500 equity shares of Mylab Discovery Solutions Private Limited (Mylab) to Rising Sun Holding Private Limited (RHSPL). These shares, representing 6.5% of Mylab's total paid-up capital, were initially acquired by ZAHL for Rs. 106 Crores under a Share Purchase Agreement (SPA) dated June 23, 2023.

Under the terms of the SPA, RHSPL has agreed to buy back the shares at the same original price of Rs. 106 Crores. Following the news, Zydus Lifesciences' stock has shown a positive movement, trading at Rs. 982.85, marking a gain of +4.50 (+0.46%). The stock opened at Rs. 978.40 today. 

Waaree Energies Limited has today announced receiving orders for two projects totaling 398 MW in solar module supply. These include a 249 MW and a 149 MW project from a prominent customer involved in owning, developing, and operating renewable energy projects in India. Following the news, the stock is trading at Rs 3159.90, down by Rs 56.90 (-1.77%), after opening at Rs 3228.25 today. 
 

Bharat Global Developers (BGDL) saw its shares rally after successfully completing a Rs300 crore Fluid Catalytic Cracking (FCC) unit for Reliance Industries. The FCC unit, a critical part of Reliance’s refinery operations, has been designed and built to adhere to the highest operational and environmental standards. This achievement underscores BGDL's engineering expertise and its capability to execute complex industrial projects in line with global benchmarks.

Today in the trading Nifty Bank fall, leading stocks are - ICICI Bank, AU Small Finance Bank, Kotak Mahindra Bank, HDFC Bank, IDFC First Bank, Axis Bank and SBI

Gainers- IndusInd Bank, Bajaj Finance, Shriram Finance, ICICI Bank and Maruti Suzuki

Losers - BPCL, JSW Steel, Titan, Hero MotoCorp, Nestle India 

“Friday's highly volatile session saw the nifty slump during the early part of the session, but the day's low occurred exactly at the falling neckline of the bullish head-and-shoulders pattern which was activated on December 3rd with an upside objective of 25,500. This objective remains valid as long as the market stays above 23,873, but more critical support now is the Friday low of 24,180. Seasonal patterns also support a bullish view, as the nifty has risen in the second fortnight of December 80% of the time in the last decade, with an average gain of 1.1%,” Akshay Chinchalkar, Head of Research at Axis Securities

In a regulatory filing, Infosys confirmed that its Board of Directors will meet on January 15 and 16, 2025, to approve and record the company's Q3 financial results.

In the early Trade, SENSEX witnessed notable movements today, with ITC, Reliance, L&T, IndusInd Bank, HCL Tech, and Asian Paint emerging as the top gainers. On the other hand, the major losers included Ultratech, Infosys, ICICI Bank, Bajaj Finance, Tata Motors, Tata Steel, SBI, Bajaj Finserv, Powergrid, Hindustan Unilever, Kotak Bank, JSW Steel, Titan, TCS, Bharti Airtel, M&M, Nestle India, Adani Ports, HDFC Bank, and NTPC, which saw significant declines.

The Indian stock markets opened on a cautious note- with Sensex opened at 82,000.31, down by 161.98 points or 0.20%. Nifty opened at 24,744.15, slipping 24.15 points or 0.10%.
 

The Sensex opened at 82,052.64, down by 79.25 points or 0.10%, while the Nifty began trading at 24,699.15, registering a drop of 69.15 points or 0.28%.
 

Anil Agarwal-led Vedanta Limited is set to reward its shareholders with a fourth interim dividend for FY2024-25. The company’s Board of Directors will meet today to finalize the payout.

Four IPOs are slated to open for subscription this week, including mainboard offerings from Mamata Machinery and Transrail Lighting. In the SME segment, two IPOs will also open for subscription this week - NACDAC and Identical Brains Studios.

Waaree Power Private, a fully owned subsidiary of Waaree Energies, has entered into a share subscription and shareholders agreement with Ewaa Renewable Techno Solutions (ERTSPL) and its current shareholders, Rajjat Kumar Bothra and Nitin Bothra, for the acquisition of a 55% stake in ERTSPL.

State-owned insurer Life Insurance Corporation of India (LIC) has reduced its stake in iron-ore producer NMDC Ltd by 2%, as disclosed in an exchange filing. Following the stake sale, LIC’s holding in the state-run mining company has decreased to 5.6% from 7.6%. The insurer sold over 5.91 crore shares through a series of market transactions between September 2023 and December 2024, according to the regulatory filing made on Friday

The US stock market wrapped up a mixed and sluggish week, with the Dow retreating for a seventh consecutive session. The S&P 500 also posted a decline, while the Nasdaq Composite managed to edge higher. The spotlight this week will be on the Federal Open Market Committee meeting on Tuesday and Wednesday, where the Federal Reserve is widely anticipated to announce another benchmark interest rate cut.In individual stock news, MicroStrategy is likely to see movement after being named a new entrant to the Nasdaq 100 index. 
 

On Friday, the Indian equity markets ended a highly volatile session on a strong note, with the Sensex jumping 918.13 points (+1.13%) to close at 82,208.09, while the Nifty advanced 219.60 points (+0.89%) to settle at 24,768.30. The Sensex traded within a range, opening at 81,212.45, hitting a high of 82,213.92, and a low of 80,082.82. Similarly, the Nifty opened at 24,498.35, climbed to a high of 24,792.30, and touched a low of 24,180.80 during the day. Bharti Airtel, ITC, Kotak Mahindra Bank, Hindustan Unilever Limited, and UltraTech Cement Limited led the rally, while Shriram Finance, Tata Steel, IndusInd Bank, JSW Steel, and Hindalco Industries dragged the markets.