Stock Market Highlights: Sensex sheds 236 points, Nifty settles below 24,550; FMCG dips, IT shines

Markets Highlights: 35 out of 50 Nifty50 constituent stocks ended in the red, dragged by NTPC, Hindustan Unilever, Coal India, Hero MotoCorp, and BPCL

Stock Market Higlights, Thursday, December 12, 2024: Benchmark equity indices, BSE Sensex and NSE Nifty50, ended Thursday’s trading session in negative territory. The 30-share Sensex shed 236.18 points or 0.29 per cent to settle at 81,289.96. The index traded in the range of 81,680.97 - 81,211.64 on Thursday.  

Similarly, the NSE Nifty50 settled at 24,548.70, down 93.10 points or 0.38 per cent from its previous close. Nifty50 traded in the range of 24,675.25 - 24,527.95 today.

 

35 out of 50 Nifty50 constituent stocks ended in the red, dragged by NTPC, Hindustan Unilever, Coal India, Hero MotoCorp, and BPCL, with losses extending up to 2.63 per cent. Conversely, Adani Enterprises, Bharti Airtel, IndusInd Bank, Tech Mahindra, and Adani Ports were among the top Nifty50 constituent stocks that ended in the green with gains of up to 1.90 per cent.  

Among the broader markets, Nifty Midcap100 and Nifty Smallcap100 indices ended lower by 0.46 per cent and 0.9 per cent, respectively.

 

The fear index, India VIX, which gauges the volatility in the markets, ended down 0.58 per cent at 13.19.

  Among the sectoral indices, only Nifty IT and Metal indices managed to eke out some gains of up to 0.77 per cent. Nifty FMCG was the top laggard among the sectors, ending down by 1.09 per cent, dragged by Hindustan Unilever, Godrej Properties, and Colgate Palmolive.

 

 

3:58 PM

Stock Market Highlights LIVE Updates: Market awaits a fresh catalyst to resume its rebound

Markets closed slightly lower on the weekly expiry day, shedding nearly half a percent amid mixed signals. After an initial uptick, the Nifty gradually declined throughout the session, ending near the day’s low at 24,548.70 level. Sectorally, most indices saw profit booking, with FMCG and energy being the top losers, though resilience in the IT sector helped limit the losses. Broader indices, which had recently outperformed, also faced profit-taking, declining by 0.5 per cent-1 per cent. 
 

The market awaits a fresh catalyst to resume its rebound, while rotational buying in key sectors like IT and banking keeps recovery hopes alive. Participants should maintain a positive outlook but manage position sizes until Nifty clears the resistance at 24,800. Additionally, given the broader indices’ recent outperformance, traders might consider booking partial profits in the midcap and smallcap segments.

(View by: Ajit Mishra – SVP, Research, Religare Broking Ltd.)

3:55 PM

Stock Market LIVE Updates: Investors tracking food prices for future rate trajectory

The market continued to remain range bound ahead of domestic CPI data and weakening rupee. Though inflation is anticipated to drop, investors are maintaining a close vigil on the vegetable prices, which will determine the future rate trajectory. Meanwhile, the Nifty IT index reached a new high after US inflation data met expectations, boosting hopes for a Fed rate cut next week.

(View by: Vinod Nair, Head of Research, Geojit Financial Services.)

3:53 PM

Stock Market Highlights LIVE Updates: Adani Ent, Bharti Airtel, IndusInd Bank rise on NSE

Adani Enterprises, Bharti Airtel, and IndusInd Bank were among the top gainers on NSE.

3:48 PM

Stock Market Highlights LIVE Updates: Nifty IT, Metal end in green in a sea of red

All sectors except Nifty IT and Nifty Metal closed with losses on Thursday.

3:43 PM

Stock Market Highlights LIVE Updates: SmallCap index slips 1%

In the broader indices, the BSE SmallCap index fell 1 per cent, while the BSE MidCap index fell 0.56 per cent

3:36 PM

Stock Market Highlights LIVE Updates: 18 out of 30 stocks end in red

NTPC, HUL, Tata Motors, and Maruti were among the top 18 losers that closed in red territory on Thursday.

3:33 PM

Stock Market Highlights LIVE Updates: Sensex closes over 200 pts lower

The BSE Sensex closed at 81,289, down points or 0.29 per cent on Thursday.

3:33 PM

Stock Market Highlights LIVE Updates: Nifty ends below 24,550

The NSE's Nifty50 closed at 24,548, down 93 points or 0.38 per cent on Thursday.

3:13 PM

Stock Market LIVE Updates: Govt considering proposal to impose safeguard duty on steel imports

The government is considering a proposal to impose safeguard duty on steel imports, Union Steel Minister HD Kumaraswamy said on Thursday.

 

"The process is going" on the ministry's proposal to impose a 25 per cent duty on steel imports, Kumaraswamy told PTI on the sidelines of an event here.

 

On December 2, the steel ministry in a meeting with the commerce department had proposed for a 25 per cent safeguard duty on certain steel products imported into the country. The steel minister and Commerce and Industry Minister Piyush Goyal were present in the meeting. Read more

3:04 PM

Stock Market LIVE updates: 3 PM market update

At 3 PM, the BSE Sensex was at 81,228.62, lower by 297.52 points, or 0.36 per cent, while the Nifty50 was at 24,531.10, down by 110.70 points, or 0.45 per cent.

2:58 PM

Stock Market LIVE Updates: Rosneft, Reliance agree on biggest ever India-Russia oil supply deal

Stock Market LIVE Updates: Russia's state oil firm Rosneft has agreed to supply nearly 500,000 barrels per day (bpd) of crude to Indian private refiner Reliance in the biggest ever energy deal between the two countries, three sources familiar with the deal said.

 

The 10-year agreement amounts to 0.5 per cent of global supply and is worth roughly $13 billion a year at today's prices. It would further cement energy relations between India and Russia, which is under heavy Western sanctions over its invasion of Ukraine.

Rosneft did not reply to requests for comments. READ MORE

 

 

2:56 PM

Stock Market LIVE Updates: Bajaj Housing Finance shares decline 6% as 3-month anchor lock-in ends

Stock Market LIVE Updates: Bajaj Housing Finance shares slipped 6.2 per cent on Thursday and logged an intraday low of Rs 132.55 per share on BSE. The selling pressure in the stock came a day after the company's 90-day anchor lock-in period ended.

 

An anchor lock-in refers to the mandatory period during which anchor investors are restricted from selling the shares they purchase in an Initial Public Offering (IPO). Anchor investors are institutional investors, such as mutual funds, insurance companies, or foreign portfolio investors, who are invited to buy shares ahead of the IPO to boost market confidence and create demand. READ MORE

 

 

2:52 PM

Stock Market LIVE Updates: IPO-bound Rebel Foods raises $210 million in funding round led by Temasek

Stock Market LIVE Updates: Cloud kitchen startup Rebel Foods -- which owns brands like Faasos and Behrouz Biryani -- has raised $210 million in Series G funding round led by Singapore-based Temasek Holdings. READ MORE 

2:49 PM

Stock Market LIVE Updates: Chalet Hotels up 7%, hits record after Axis Securities initiates with 'Buy'

Stock Market LIVE Updates: International high-end hotel operator Chalet Hotels shares rallied up to 6.63 per cent to hit a fresh record high (all-time high) of Rs 989.35 per share on Thursday, December 12, 2024. READ MORE 

2:45 PM

Stock Market LIVE Updates: MTNL skyrockets 14% despite default on interest payment for bond series

Stock Market LIVE Updates: Shares of state owned telecommunications company MTNL surged 13.68 per cent at Rs 61.89 a piece on the BSE in Thursday’s intraday deals. The stock of the company was in high demand despite its default on a semi-annual interest payment of 6.85 per cent for the MTNL Bond Series VI. The interest payment had to be paid 10 days before its due date of December 21, 2024. READ MORE