Indices trade with minor gains; Ultratech Cement jumps over 5%

The benchmark indices continued to trade with decent gains in the afternoon trade. The Nifty hovered above the 24,150 mark. Realty, consumer durables and healthcare shares advanced while banking stocks declined.

At 13:30 IST, the barometer index, the S&P BSE Sensex was up 21.84 points or 0.03% to 79,914.94. The Nifty 50 index added 30.95 points or 0.13% to 24,162.05.

The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.57% and the S&P BSE Small-Cap index rallied 0.54%.

The market breadth was strong. On the BSE, 2,340 shares rose and 1,654 shares fell. A total of 163 shares were unchanged.

 

Gainers& Losers:

Ultratech Cement (up 5.30%), Grasim Industries (up 3.47%), Apollo Hospitals Enterprise (up 2.94%), Shriram Finance (up 2.24%) and JSW Steel (up 2.23%) were major Nifty gainers.

HDFC Life Insurance Company (down 1.85%), Cipla (down 1.84%), NTPC (down 0.83%), IndusInd Bank (down 0.82%), SBI Life Insurance Company (0.59%) were major Nifty losers.

Stocks in Spotlight:

Oil & Natural Gas Corporation (ONGC) slipped 0.37%. The company said that its wholly owned subsidiary, ONGC Videsh has acquired 0.615% stake in offshore Azeri Chirag Gunashli (ACG) field in Azerbaijan from Equinor. The company has also acquired 0.737% stake of Baku Tbilisi Ceyhan (BTC) pipeline company through its wholly owned subsidiary ONGC BTC.

TVS Motor rose 1.43% after the two-wheeler makers total sales jumped 10.16% to 401,250 units in November 2024 as against 364,231 units sold in the month of November 2023.

Maruti Suzuki India added 1.16% after the companys total sales rose 10.39% to 181,531 units in November 2024 as against 164,439 units sold in November 2023.

Hero MotoCorp shed 0.81% after its total sales declined 6.36% to 459,805 units in November 2024 as compared with 491,050 units in November 2023.

Mahindra & Mahindra added 1.13% after the auto majors overall auto sales grew by 12.05% to 79,083 vehicles sold in November 2024 as against 70,576 vehicles sold in November 2023.

Global Market:

The Dow Jones index futures were up 125 points, signaling a strong opening for U.S. stocks today.

Most Asian stocks advanced on Monday after US shares rose Friday as global markets enter a seasonally strong period.

Meanwhile, Chinese economic data pointed to a mixed picture. The country's factory activity expanded in November as the official manufacturing index picked up. However, the non-manufacturing sector slipped slightly. The value of new home sales fell last month from a year earlier to 363 billion yuan ($50 billion), reversing October gains. The stock market benchmarkCSI 300closed Friday's session with gains of 1.14%.

US stock indices surged to record highs on Friday, driven by positive economic indicators and expectations of a Federal Reserve rate cut in December.

The S&P 500 rose 0.6% to a record high of 6,032.4 points, while the Dow Jones Industrial Average rose 0.4% to a peak of 44,910.65 points. The NASDAQ Composite rose 0.8% to 19,218.17 points, but remained below recent record highs.

Trump on Sunday threatened to impose 100% tariffs on the BRICS bloc of countries, which includes China. Trump criticized the blocs attempts to form its own currency and shift away from the U.S. dollar, threatening to cut the bloc off from U.S. trade over the move. He called for commitments to the dollar from the bloc.

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