Stock Market Close Highlights: Sensex sheds 384pts, Nifty ends at 24,668; Realty shares outperform

Markets Today: Monday ended broadly in favour of the bears as 36 out of 50 constituent stocks of Nifty50 ended in the red, dragged down by Titan, TCS, Hindalco, Adani Ports, and BPCL

Stock Market Highlights, Monday, December 16, 2024: Benchmark equity indices BSE Sensex and NSE Nifty50 ended in the red, mirroring their Asian peers. The 30-share Sensex settled at 81,748.57, down 384.55 points or 0.47 per cent. The index traded in the range of 82,116.44 to 81,551.28 today. 

 

Similarly, the NSE Nifty50 ended 100.05 points or 0.40 per cent lower at 24,668.25. Nifty50 was seen at its day's high of 24,781.25, while the day's low was quoted at around 24,601.75. 

 

Monday ended broadly in favour of the bears as 36 out of 50 constituent stocks of Nifty50 ended in the red, dragged down by Titan, TCS, Hindalco, Adani Ports, and BPCL with losses extending up to 1.93 per cent. Conversely, Dr Reddy's Labs, IndusInd Bank, Bajaj Finance, HDFC Life, and Power Grid were among the 13 stocks that ended in the green with gains extending up to 1.90 per cent. Meanwhile, ITC was the only Nifty50 constituent stock that ended on a flat note on Monday.

 

Notably, the broader markets outperformed the benchmarks, with the Nifty Midcap100 ending higher by 0.77 per cent. This was followed by the Nifty Smallcap100 index, which ended higher by 0.64 per cent. 

 

Sectoral indices, on the other hand, ended on a mixed note on Monday. Realty stocks soared in the otherwise weak markets, with the Nifty Realty index ending higher by 3.10 per cent, led by Oberoi Realty, Prestige Estates, and Macrotech Developers. Media, Pharma, and PSU Bank were other indices that ended in the green, while Nifty Financial Services, FMCG, IT, Metal, and OMC ended down by up to 0.97 per cent.

 

3:55 PM

Stock Market Highlights LIVE Updates: Dips in the support zone of 24,550 – 24,500 are a buying opportunity

Nifty opened on a flat note and thereafter traded with negative bias during the day to close in the red down 100 points. On the daily charts we can observe that after the sharp upmove in the previous session the nifty consolidated within a narrow range, we believe that this is a brief pause in the overall uptrend.

On the upside the short-term target is placed at 25125 while crucial support is placed at 24550 – 24500. Dips towards the support zone should be considered as a buying opportunity.

(View by: Jatin Gedia – Technical Research Analyst at Mirae Asset Sharekhan, for your reference.)

3:46 PM

Stock Market LIVE Updates: Realty stocks outperform on potential rate cut cycle in 2025

The national market traded in a range-bound manner while the realty sector outperformed in expectation of growing demand and a potential rate cut cycle in 2025. A rise in manufacturing and service PMI suggests a positive turnaround in H2FY25 earnings, which may limit further downgrades in FY25 earnings. Rising US 10-year bond yields and a strengthening dollar led investors to remain watchful of the upcoming US Fed policy and its commentary for 2025 rates.

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

3:44 PM

Stock Market Highlights LIVE Updates: Dr Reddy's Labs, IndusInd Bank, HDFC Life gain on NSE

Dr Reddy's Labs, IndusInd Bank, and HDFC Life were among the top gainers on NSE.

3:42 PM

Stock Market Highlights LIVE Updates: Broader indices outperform

The BSE SmallCap index surged 0.47 per cent, while the BSE MidCap index rose 0.73 per cent. 

3:40 PM

Stock Market Highlights LIVE Updates: Nifty Realty outruns others, gains 3%

Nifty Realty outran other sectors and gained over 3 per cent, followed by Nifty Media, PSU Bank and Healthcare among others.

3:36 PM

Stock Market Highlights LIVE Updates: 25 out of 30 stocks close with losses

Titan, Adani Ports, Ultratech Cement and TCS were among the top losers on the BSE Sensex.

3:34 PM

Stock Market Highlights LIVE Updates: Sensex closes over 350 points lower

The BSE Sensex closed 81,748 level, down 384 points or 0.47 per cent level. 

3:33 PM

Stock Market LIVE Updates: Nifty50 ends below 24,700

The NSE's Nifty50 closed below 24,668 level, down 100 points or 0.40 per cent.

3:15 PM

Stock Market LIVE Updates: Textile stocks shine; Donear, Siyaram, Mafatlal, Indo Count zoom up to 20%

Shares of textile and related companies were on a roll, zooming up to 20 per cent on the BSE in Monday’s intra-day trade backed by heavy volumes on hopes of improvement in business outlook. In comparison, the BSE Sensex was down 0.45 per cent at 81,767 at 02:01 pm.

 

Donear Industries and Siyaram Silk Mills surged 20 per cent, Mafatlal Industries rallied 14 per cent, while, Jindal Worldwide, Zodiac Clothing Company, Shiva Mills, Suryalata Spinning Mills and Surylakshmi Cotton Mills soared 10 per cent each. Indo Count Industries, Arvind, Himatsingka Seide and Vardhman Textiles were up in the range of 2 per cent to 6 per cent. Read more

3:01 PM

Stock Market LIVE Updates: 3 PM market update - Sensex, Nifty maintain lower levels

Stock Market LIVE Updates: Benchmark Indian equity indices BSE Sensex and Nifty 50 were trading lower as markets continued on a cautious note on Monday,
amid mixed global cues.

At 3 PM, the BSE Sensex was 347.79 points, or 0.42 per cent lower at 81,785.33, while the Nifty 50 was at 24,675.75, down 92.55 points, or 0.37 per cent.

 

2:54 PM

Stock Market LIVE Updates: Upcoming IPO: Anand Rathi's brokerage arm files draft papers with Sebi

Stock Market LIVE Updates: Anand Rathi Group’s brokerage arm, Anand Rathi Share and Stock Brokers, is planning to go public as the company has filed its Draft Red Herring Prospectus (DRHP) with the capital markets regulator, the Securities and Exchange Board of India (Sebi), for its Initial Public Offering (IPO).

 

With the IPO, Anand Rathi Share and Stock Brokers is planning to raise up to Rs 745 crore, which comprises an entire fresh issue of shares with a face value of Rs 5 apiece. The offer includes reservations for subscriptions by eligible employees. READ MORE

 

 

 

2:45 PM

Stock Market LIVE Updates: US' case against Gautam Adani strong but extradition unlikely: Experts

Stock Market LIVE Updates: The US fraud case against Indian billionaire Gautam Adani appears to be backed by documents that will help prosecutors make a

strong case, legal experts said, but the tycoon is unlikely to be extradited to stand trial anytime soon.

Federal prosecutors in Brooklyn last month unsealed an indictment accusing Adani of bribing Indian officials to convince them to buy electricity produced by Adani Green Energy , a subsidiary of his Adani Group conglomerate, and then misleading US investors by providing reassuring information about the company's anti-corruption practices.
 

Adani, his nephew Sagar Adani, and another Adani Group executive were charged with securities fraud and conspiracy. READ MORE

 

2:42 PM

Stock Market LIVE Updates: Nykaa, Finolex, Exide see Death Cross on chart; stocks can fall up to 20%

Stock Market LIVE Updates: Five stocks among the Nifty 500 on Monday witnessed a 'Death Cross' pattern on the daily chart as the benchmark indices drifted lower amid persistent selling pressure. The BSE Sensex was down over 500 points at 81,600, while the Nifty 50 index slipped 130 points to 24,650 levels in intra-day deals on Monday.

 

Technically, the term 'Death Cross' is used when short-term moving average dips below the long-term moving average on the charts. Typically, the 50-DMA (Daily Moving Average) of the stock or index falls below the 200-DMA. In general, this also signals a likely change in trend from bullish to bearish. READ MORE

 

 

2:37 PM

Stock Market LIVE Updates: Biocon's arm gets approval recommendation from CHMP for psoriasis drug Yesintek

Stock Market LIVE Updates: Biocon Biologics Ltd (BBL), a subsidiary of Biocon Ltd, today informed its biosimilar product for J&J's Stelara, called Yesintek, used in the treatment of adults and children with plaque psoriasis and adults with psoriatic arthrities, or Crohn's disease, has received a positive recommendation from European Medicines Agency's Committee for Medicinal Products for Human Use (CHMP).

The company, in an exchange filing, said, "Biocon Biologics Ltd (BBL), a fully integrated global biosimilars company and subsidiary of Biocon Ltd, today announced that the European Medicines Agency’s Committee for Medicinal Products for Human Use (CHMP) has issued a positive opinion recommending approval of YESINTEK®, an Ustekinumab biosimilar intended for the treatment of adults and children with plaque psoriasis and adults with psoriatic arthritis or Crohn’s disease - based on the application filed by Biosimilar Collaborations Ireland Limited, an indirect wholly-owned subsidiary of BBL."

It added that the CHMP's positive recommendation follows the recent approval by the US FDA earlier this month.

 

2:29 PM

Stock Market LIVE Updates: NBCC (India) bags two work orders worth a total of Rs 489.60 crore

Stock Market LIVE Updates: NBCC (India) today informed that it has been awarded two work orders with a cumulative value of Rs 489.60 crore.

The company, in an exchange filing, said, it has received a work order for the "Construction of Eklavya Model residential Schools in Chhattaisgarh at different locations, i.e. Bastar, (Lohandiguda, Darbha, bastanar), Sukma, (Chhindgarh), Dantewada, (Gidam, Kaukonda), Narayanpur (Orchha), Rajnandgaon (Mohla), Jashpur (Jashpur, Manora)," from the Department of Tribal and Scheduled Caste, Chhattisgarh. 

The approximate value for the project is Rs 459.60, according to the company's exchange filing.

Separately, the company has also received another work order from Pt. Deen Dayal Upadhyaya National Institute for Persons with Physical Disabilities (PDUNIPPD), New Delhi , for the construction of Permanent Building of Composite Regional Centre (CRC) at Jamdoli, Agra Road, Jaipur, at a cost of Rs 30 crore.