As per provisional closing data, the S&P BSE Sensex, was down 67.11 points or 0.09% to 78,472.87. The Nifty 50 index shed 25.80 points or 0.11% to 23,727.65.
In the broader market, the S&P BSE Mid-Cap index rose 0.09% and the S&P BSE Small-Cap index added 0.37%.
The market breadth was negative. On the BSE, 1,980 shares rose and 2,016 shares fell. A total of 96 shares were unchanged.
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, declined 2.53% to 13.18.
The domestic market will remain closed on Wednesday, 25 December 2024, in observance of Christmas.
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IPO Update:
The initial public offer (IPO) of Unimech Aerospace and Manufacturing received bids for 3,78,89,344 shares as against 47,04,028 shares on offer, according to stock exchange data at 15:15 IST on 24 December 2024. The issue was subscribed 8.05 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.
The initial public offer (IPO) of Ventive Hospitality received bids for 9,30,26,835 shares as against 1,44,34,453 shares on offer, according to stock exchange data at 15:15 IST on 24 December 2024. The issue was subscribed 6.44 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.
The initial public offer (IPO) of Senores Pharmaceuticals received bids for 68,22,87,112 shares as against 85,34,681 shares on offer, according to stock exchange data at 15:15 IST on 24 December 2024. The issue was subscribed 79.94 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 372 and Rs 391 per share. An investor can bid for a minimum of 38 equity shares and in multiples thereof.
The initial public offer (IPO) of Carraro India received bids for 1,25,67,534 shares as against 1,30,98,803 shares on offer, according to stock exchange data at 15:15 IST on 24 December 2024. The issue was subscribed 0.96 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 668 and Rs 704 per share. An investor can bid for a minimum of 21 equity shares and in multiples thereof.
Buzzing Index:
The Nifty Metal index fell 0.83% to 8,817.60. The index rose 0.96% in the past trading session.
Vedanta (down 2.37%), National Aluminium Company (down 1.94%), APL Apollo Tubes (down 1.63%), Steel Authority of India (down 1.63%), JSW Steel (down 1.58%), Tata Steel (down 0.82%), Hindalco Industries (down 0.8%), NMDC (down 0.76%), Hindustan Zinc (down 0.08%) declined.
On the other hand, Welspun Corp (up 3.26%), Hindustan Copper (up 3.15%) and Adani Enterprises (up 1.52%) edged higher.
Stocks in Spotlight:
Vraj Iron And Steel rallied 1.90% after the company successfully commenced commercial operation of the sponge iron plant on 23 December 2024 of an expansion project located at Dighoia, Bilaspur, in Chhattisgarh.
Zaggle Prepaid Ocean Services added 3.23%. The company announced that it has raised Rs 594.84 crore through qualified institutional placement (QIP) at Rs 523.20 per share.
Greaves Cotton surged 7.36% after the companys material subsidiary, Greaves Electric Mobility (GEML), filed a draft red herring prospectus (DRHP) with regulatory organisations in connection with its initial public offering.
Punjab Chemicals and Crop Protection fell 0.91%. The firm said Ashish R. Nayak, chief financial officer (CFO) & vice president of finance and accounts, has tendered his resignation from the services of the company due to personal reasons.
Whirlpool of India added 2.75% while PG Electroplast (PGEL) rallied 1.49% after the company signed a definitive agreement with PG Electroplast for contract manufacturing select models of Whirlpool-branded semi-automatic washing machines.
Akums Drugs and Pharmaceuticals shed 0.92%. The pharma major entered into an agreement with one of leading global pharma companies for the manufacture and supply of selected pharmaceutical formulations in the European market.
Knowledge Marine & Engineering Works added 1.76% after the companys board approved a proposal for sub-division of existing one equity share of the company into two equity shares.
Castrol India rose 0.91%. The company has announced that Deepesh Baxi will relinquish his office as Chief Financial Officer (CFO) & Wholetime Director of the company, with effect from the close of business hours on 13 March 2025.
Global Markets:
European shares traded mostly higher on Tuesday, buoyed by gains in technology shares that mirrored their U.S. counterparts. However, trading volumes remained thin ahead of the Christmas holiday. Asian stocks ended mixed as markets awaited further clarity on Beijing's plans for stimulus measures in the upcoming year. Recent reports indicated that China will increase fiscal spending to bolster economic growth.
Regional markets drew positive signals from Wall Street, which closed higher on Monday as technology stocks partially recovered from last week's steep declines.
On Monday, the S&P 500 gained 0.7% to 5,974.07 points, the Dow Jones Industrial Average rose 0.2% to 42,906.65, and the NASDAQ Composite climbed 1% to 19,764.89 points.
Broadcom Inc. surged 5.5% as investors continued to acquire shares of the chipmaker following its strong quarterly results and optimistic guidance released earlier this month. Qualcomm Inc. stock rose more than 3% after a jury ruled that its central processors are properly licensed under an agreement with UK-based Arm Holdings.
Wall Street will have a shortened trading session on Tuesday, as will most Asian markets.
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