Barometers end flat, Nifty settles at 23,750.20; VIX jumps 6.5%

The domestic equity indices ended near the flatline amid volitility on Thursday. The Nifty settled near the 23,750 mark. Auto, healthcare and pharma shares advanced while media, FMCG and private bank shares declined. Trading was volatile due to the monthly F&O series expiry today.

As per provisional closing, the S&P BSE Sensex was down 0.39 points or 0% to 78,472.48. The Nifty 50 index rose 22.55 points or 0.10% to 23,750.20.

In the broader market, the S&P BSE Mid-Cap index rose 0.11% and the S&P BSE Small-Cap index declined 0.24%.

The market breadth was negative. On the BSE, 1,664 shares rose and 2,307 shares fell. A total of 103 shares were unchanged.

 

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, jumped 6.50% to 14.04.

IPO Update:

The initial public offer of Unimech Aerospace and Manufacturing received bids for 73,86,55,951 shares as against 47,04,028 shares on offer, according to stock exchange data at 15:15 IST on 26 December 2024. The issue was subscribed 157.03 times.

The issue opened for bidding on 20 December 2024 and it will close on 24 December 2024. The price band of the IPO is fixed between Rs 610 and Rs 643 per share. An investor can bid for a minimum of 23 equity shares and in multiples thereof.

Buzzing Index:

The Nifty Media index fell 1.46% to 1,846.75. The index dropped 7.10% in six consecutive trading sessions.

Hathway Cable & Datacom (down 5.62%), PVR Inox (down 2.49%), Den Networks (down 2.44%), Saregama India (down 2.2%), Network 18 Media & Investments (down 1.85%), Tips Music (down 1.64%), Dish TV India (down 1.33%), Zee Entertainment Enterprises (down 0.98%), Sun TV Network (down 0.66%) added.

Stocks in Spotlight:

Ramky Infrastructure advanced 2.98% after the company received a letter of acceptance from the Hyderabad Metropolitan Water Supply & Sewerage Board (HMWSSB) for maintaining sewage treatment plant (STP). The said order is valued at approximately Rs 215.08 crore.

Ola Electric Mobility shed 0.72%. The company said that it has expanded its network to 4,000 stores nationwide, registering a four-fold increase from the existing network.

Capital India Finance rose 0.34%. The companys board has approved sub-division of 1 equity share of face value of Rs 10 into 5 equity shares having face value of Rs 2, subject to approval of members of the company.

Garware Technical Fibres rallied 4.91% after the company received an in-principle approval letter from the National Stock Exchange (NSE) for a bonus issue in the ratio of 4:1.

Ceigall India jumped 2.88% after the companys subsidiary, Ceigall Ludhiana Bathinda Greenfield Highway Private, executed a concession agreement with the National Highways Authority of India (NHAI) to develop a highway in Punjab.

Gland Pharma advanced 2.56% after the company said that the Agence nationale de suritdu micament et des produits de sant(ANSM), France, has issued 10 observations to Cenexis facility post an inspection conducted this month.

Godfrey Phillips India jumped 8.45% after the company announced that its nomination and remuneration committee has approved the appointment of Siddharth Chawla as chief operating officer (COO).

Bharat Petroleum Corporation (BPCL) rose 1.03% after the company announced its participation in NTPCs tender for the selection of solar power generators to establish 1200 MW ISTS-connected solar PV power projects across India.

Ace Software Exports added 1.27% after the company signed a letter of intent (LoI) with a reputed international entity based in the United Kingdom to explore the establishment of a joint venture.

Global Markets:

European market remained close today on account of Boxing Day.

Asia-Pacific stocks advanced on Thursday as investors closely tracked the developments in the Japanese economy after media reports stated that the country was preparing a record $735 billion budget for its fiscal year starting in April. The budget will account for increased social security and debt-servicing expenses, the report said.

On Wednesday, Bank of Japans Governor Kazuo Ueda reportedly said: Japans economy will move closer to sustainable and stable 2 percent inflation [in 2025], accompanied by wage increases.

Traders in Asia will be looking at November manufacturing output data coming out of Singapore later in the day.

The Chinese government said on Wednesday that efforts to stabilize and stem the declines of the countrys real estate market will persist in 2025. The measures will include controlling the supply of commercial housing to optimize supply.

In the US, stocks jumped Tuesday on Christmas Eve as the market pulled off back-to-back gains in the holiday week.

The S&P 500 added 1.1% to 6,040.04, and the Dow Jones Industrial Average gained 390.08 points, or 0.91%, to 43,297.03. The Nasdaq Composite climbed 1.35% to 20,031.13. Tuesday marked the start of the seasonal Santa Claus rally, which happens in the last five trading days of the year and the first two in January.

With two straight winning days, the S&P 500 is up 1.8% this week, while the Dow has gained about 1%. The strong rally in megacap tech lifted the Nasdaq up 2.3% week to date.

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