Stock Market Crash Highlights: Sensex sinks 1176pts, Nifty settles at 23,587; all sectors end in red

Markets Crash Today: Broader markets fell more than the benchmarks, with the Nifty Midcap100 and Nifty Smallcap100 indices ending lower by 2.82 per cent and 2.19 per cent, respectively

Stock Market Crash Highlights, Friday, December 20, 2024: Benchmark equity indices, the BSE Sensex and NSE Nifty50, witnessed a sharp correction, ending the week's last trading session down by over 1 per cent each, weighed by selling across the counters.

 

The 30-share Sensex tumbled 1176.46 points, or 1.49 per cent, to end Friday's trading session at 78,041.59. The index traded in the range of 79,587.15 to 77,874.59 on Friday.

 

Similarly, the NSE Nifty50 ended down by 364.20 points, or 1.52 per cent, to settle at 23,587.50. The Nifty50 traded in the range of 24,065.80 to 24,537.35 on Friday.   Friday ended in favour of the bears, with 45 out of the constituent stocks of the Nifty50 ending in the red, dragged down by Tech Mahindra, IndusInd Bank, Mahindra & Mahindra, Axis Bank, and Trent. These stocks were among the top laggards, extending losses of up to 3.90 per cent. Only 5 constituent stocks, including Dr Reddy's Lab, Titan, Nestle India, HDFC Life, and ICICI Bank, managed to end in the green with gains of up to 1.49 per cent.  The fear index, India VIX, which gauges volatility in markets, ended higher by 3.87 per cent at 15.07 points.

 

Broader markets fell more than the benchmarks, with the Nifty Midcap100 and Nifty Smallcap100 indices ending lower by 2.82 per cent and 2.19 per cent, respectively.    All sector indices ended in the red, with Nifty Realty, Nifty Select Telecom, and Nifty Financial Services ending down by over 3 per cent each. Among others, Nifty IT, Nifty Auto, and Nifty PSU Bank were the worst hit, ending down by over 2 per cent each.

 

4:02 PM

Stock Market Highlights LIVE Updates: Domestic market contending with high valuations & low earnings growth

Disappointment regarding the slower-than-anticipated rate cuts by the US Fed has adversely affected global market sentiment. This bearish outlook is particularly impacting the domestic market, which is already contending with high valuations & low earnings growth. 

The sell-off has been widespread, with significant declines in mid- and small-cap stocks, where valuations premiumisation is at historical peak. The IT sector is notably underperforming as it was amongst the best performers in anticipation of rapid rate cuts in 2025.

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

4:00 PM

Stock Market Highlights LIVE Updates: Dollar's strength has been prompting foreign investors to flee

Nervousness continued to grip investors and stocks across-the-board went into a tailspin as the dollar's continuing strength against the rupee has been prompting foreign investors to flee local equities and take shelter in safe haven dollar assets. Investors are also apprehensive about Trump's trade policies when he takes charge in mid January next year, as his aggressive policies could further roil global markets.

(View by: Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd)

3:46 PM

Stock Market Highlights LIVE Updates: All sectors bleed

All sectors closed with losses on Friday, with Nifty Realty, Nifty PSU Bank and Nifty IT falling up to 4 per cent. 

3:43 PM

Stock Market Highlights LIVE Updates: Tech Mahindra, Axis Bank fall up to 4% on NSE

 Tech Mahindra, Axis Bank and IndusInd Bank fell up to 4 per cent on NSE.

3:41 PM

Stock Market Highlights LIVE Updates: SmallCap, MidCap indices fall over 2%

The BSE SmallCap index closed 2.1 per cent lower, while the BSE MidCap index dipped 2.43 per cent.

3:38 PM

Stock Market Highlights LIVE Updates: Heatmap check

27 out of 30 stocks closed in red, with Tech Mahindra, IndusInd Bank and Axis Bank falling up to 4 per cent.

3:36 PM

Stock Market Highlights LIVE Updates: Nifty50 plunges over 350 pts, closes below 23,600

The NSE's Nifty50 ended at 23,587.50, down 364.20 points or 1.52 per cent. 

3:33 PM

Stock Market Highlights LIVE Updates: Sensex bleeds, ends 1,176 pts down

The BSE Sensex closed at 78,041.59, down 1176.46 points or 1.49 per cent. 

3:25 PM

Stock Market LIVE Updates: IPO Calendar -- 14 public offerings to keep the investors busy next week

IPO Calendar: Investors are gearing up for an eventful week as five mainline IPOs and three SME IPOs are set to debut on Dalal Street. Also, the public offering of Unimech Aerospace and Manufacturing is slated to open for subscription next week, adding to the market buzz.

 

From the mainline IPO segment, Concord Enviro, Sanathan Textiles, Mamata Textiles, DAM Capital Advisors, and Transrail Lighting are scheduled to list on the NSE and BSE on Friday, December 27, 2024. These IPOs will remain open for subscription until Monday, December 23, 2024.

 

Meanwhile, the share allotment process for Carraro India, Senores Pharmaceuticals, and Ventive Hospitality, whose IPOs opened today, December 20, 2024, is expected to get finalised on Thursday, December 26, 2024. These companies are anticipated to debut on the exchanges on Monday, December 30, 2024. Read more

3:15 PM

Stock Market LIVE Updates: Reliance Industries dips to 52-week low: What's behind 5% drop in one week?

Shares of Reliance Industries (RIL) hit a 52-week low of Rs 1,210.15, falling 1.7 per cent on the BSE in Friday’s intra-day trade, extending its previous day’s nearly 2 per cent decline. In one week, the stock price of the country’s most valuable company in terms of market capitalisation (market cap) has declined 5 per cent.

 

RIL has seen market cap erosion of Rs 85,525 crore during the week. In comparison, the BSE Sensex has declined 4.4 per cent during the same period. RIL has declined 24 per cent from its record high level of Rs 1,608.95 (adjusted to bonus) touched on July 8, 2024. Read more

3:01 PM

Stock Market LIVE Updates: 3 PM market update - Sensex, Nifty trade with deep cuts

Stock Market LIVE Updates: Benchmark Indian equity indices BSE Sensex and Nifty 50 were trading lower on Friday amid mixed global cues.

At 3 PM, the BSE Sensex was lower by 1,047.09 points, or 1.32 per cent, at 78,170.96, while the Nifty 50 was at 23,637.75, lower by 313.95 points, or 1.31 per cent.

 

2:53 PM

Stock Market LIVE Updates: Siemens shares slip 9%, record sharpest intraday fall in over six months

Stock Market LIVE Updates:  Siemens share price sunk up to 9.4 per cent to Rs 6,912 per share on the BSE on Friday, December 20, 2024. The stock of the heavy electrical equipment company recorded its sharpest intraday fall in over six months. Earlier, on June 4, 2024, Siemens share price had tanked 20 per cent in intraday trade.

 

In the four trading days, the stock price of the company has declined 13 per cent from a level of Rs 8,026. It had hit a record high of Rs 8,129.95 on October 16, 2024. READ MORE

 

2:44 PM

Stock Market LIVE Updates: Shilpa Medicare gets Europe GMP certificate for Unit 7, Hyderabad from EMA, Austria

Stock Market LIVE Updates: Shilpa Medicare today informed that its Unit 7, at Nacharam, Hyderabad, Telangana, has received the GMP Certification from EMA, Europe.

The company, in an exchange filing, said, "This is to inform you that the Shilpa Medicare Limited, Unit 7, Nacharam, Hyderabad, Telangana, India had completed an
inspection from EMA, Europe from 24th to 26th September 2024. The Company has received the GMP Certification after successful closure of the inspection". 

The company added that Shilpa Medicare, Unit VII, has an Analytical Services Division (QC) and a Bio Analytical Department. Both laboratories are approved by
USFDA. The Bio-Analytical Laboratory is already approved by EMA, Europe, it said.

This laboratory is involved in testing drug substances, raw materials, packing materials and finished products. It is also engaged in other analytical activities like analytical method validations, method transfers and other miscellaneous analytical studies. 

The laboratory has been testing samples for final release into US, EU and other markets, the company said.

 

2:43 PM

Stock Market LIVE Updates: Adani Group plans Rs 20K crore super critical thermal power plant in Bihar

Stock Market LIVE Updates: Billionaire Gautam Adani's conglomerate plans to invest Rs 20,000 crore in setting up a super critical thermal power plant in Bihar even as it expands its cement, food processing and logistics business in the state.

 

Speaking at the Bihar Business Connect 2024, Pranav Adani, Director, Adani Enterprises Ltd, said the ports-to-energy conglomerate is invested in three sectors in Bihar - logistics, gas distribution and agri logistics, where it has already invested around Rs 850 crore. READ MORE

 

 

2:34 PM

Stock Market LIVE Updates: This solar photovoltaic company stock has skyrocketed 2,000% in 17 months

Stock Market LIVE Updates: Websol Energy Systems (WESL) shares hit a new high of Rs 1,774.50, gaining 5 per cent on the BSE in Friday’s intra-day trade on a strong business outlook. Thus far in the month of December, the stock of the company engaged in the business of manufacturing solar photo-voltaic cells and modules, has surged 40 per cent. In 17 months, it has skyrocketed 2,000 per cent from the level of Rs 84.45 on July 20, 2023.

 

WESL has been in the business of producing and selling solar photovoltaic cells and modules since 1994. The company’s manufacturing facility is situated in the Falta Special Economic Zone in West Bengal, India. The company’s products are utilised in commercial and industrial settings in India and internationally. READ MORE