Wednesday, December 25, 2024 | 11:24 AM ISTEN Hindi

Sensex falls 865pts from day's high, ends flat; RIL dips 2%, IT stocks gain

CLOSING BELL: Around 3:30 PM, the mega IPO of Life Insurance Corporation (LIC) was subscribed 91 per cent with policyholders' quota seeing a subscription of 2.79 times

SI Reporter New Delhi

Photo: Shutterstock

CLOSING BELL

Equity indices pared their gains in the fag-end of the session and ended flat as US index futures indicated a subdued start on Wall Street later today.

The S&P BSE Sensex declined 865 points from the day's high to end at 55,702, up 33 points or 0.06 per cent on the BSE. The NSE Nifty50, meanwhile, shut shop at 16,683, up 5 points or 0.03 per cent, after hitting a high of 16,946 earlier today.

Tech M, Hero MotoCorp, Infosys, HCL Technologies, Wipro, and Tata Steel were the top Nifty gainers, rising 2-4 per cent on the NSE. IndusInd Bank, Tata Consumer Products, Britannia Industries, Nestle India, Ultratech Cement, Sun Pharma, Eicher Motors, and RIL were the top laggards, down in the equivalent range.

In the broader market, the BSE MidCap and SmallCap indices fell up to 0.27 per cent. Sectorally, the Nifty Realty index fell 2 per cent, followed by the Nifty Pharma index (down 0.95 per cent), and the Nifty PSU Bank index (down 0.8 per cent). The Nifty IT index, on the contrary, added 2 per cent.

LIC IPO

Around 3:30 PM, the mega IPO of Life Insurance Corporation was subscribed 91 per cent with policyholders' quota seeing a subscription of 2.79 times, employee quota 1.94 times, retail quota 84 per cent, and NII 39 per cent.

4:11 PM

Technical View: Rupak De, Senior Technical Analyst at LKP Securities

The benchmark Nifty failed to give any decisive move as it remained within the previous day's range. On the daily chart, Nifty has formed an inside-day bar , suggesting indecisiveness. The daily RSI is in bearish crossover. The trend remains weak; at the lower end, support is seen at 16600, whereas resistance is visible at 16950-17000.

4:04 PM

Market view: Vinod Nair, Head of Research at Geojit Financial Services

The fear of an aggressive rate hike by the Fed was the prime reason for global volatility during the past few days. Fed’s decision to remain less hawkish with a 50bps rate hike downplayed the investor’s worries, helping the global markets to rally. However, the domestic market trimmed its gains towards the end of the day following a sell-off in US futures.

3:55 PM

Closing bell: Over 1,800 stocks declined whereas 1,525 declined

3:51 PM

Closing bell: IndusInd Bank, Britannia, Sun Pharma top Nifty 50 losers

3:49 PM

Closing bell: Tech Mahindra, Hero Moto, Infosys top Nifty 50 gainers

3:45 PM

Closing bell: Midcaps outshine Smallcaps; India Vix slips below 7%

3:42 PM

Closing bell: Nifty Realty worst sectoral performer

3:40 PM

Closing bell: Nifty IT best sectoral performer

3:37 PM

Closing bell: Sectors swing between gains and losses

3:34 PM

Closing bell: 14 out of 30 Sensex stocks close in positive zone

3:33 PM

Closing bell: Nifty 50 flat above 16,650 levels

3:32 PM

Closing bell: Sensex closes flat above 55,700

3:20 PM

Former ONGC chairman Shashi Shanker joins Adani Total Gas Ltd board

Shanker, who superannuated as the head of India's largest oil and gas producer on March 31, 2021, was appointed to the board of ATGL on May 4. READ MORE HERE

3:15 PM

BOB, ICICI Bank hike retail loans rates by 40 bps on RBI's action

Public sector lender Bank of Baroda (BoB) has raised lending rate on loans including home and car by 40 basis points after Reserve Bank of India hiked the policy repo rate by 40 basis points to 4.4 per cent. READ MORE HERE