Sensex rises 227 pts, Nifty ends above 23,800; NSE VIX tumble 5.68%

The domestic equity indices ended with minor gains on Friday. The Nifty settled above the 23,800 level. Shares in the pharma, auto, and healthcare sectors advanced, while those in the metal, PSU banks, and oil & gas sectors declined.

The S&P BSE Sensex advanced 226.59 points or 0.29% to 78,699.07. The Nifty 50 index rose 63.20 points or 0.27% to 23,813.40.

In the broader market, the S&P BSE Mid-Cap index shed 0.08% and the S&P BSE Small-Cap index added 0.28%.

The market breadth was negative. On the BSE, 1,942 shares rose and 2,027 shares fell. A total of 199 shares were unchanged.

 

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, tumbled 5.68% to 13.24.

The Indian rupee hit a fresh record low against the US dollar on Friday. The currency opened at 85.3100, touched an all-time low of 85.8075, and is currently trading at 85.5100.

Numbers to Track:

The yield on India's 10-year benchmark federal paper grew 1.87% to 6.911 as compared with the previous close of 6.895.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 85.5050 compared with its close of 85.2725 during the previous trading session.

MCX Gold futures for the 5 December 2024 settlement shed 0.02% to Rs 76,815.

The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was flat 0.00% to 108.13.

The United States 10-year bond yield added 0.72% to 4.610.

In the commodities market, Brent crude for February 2025 settlement advanced 15 cents or 0.20% to $73.41 a barrel.

Global Markets:

European stocks advanced on Friday as regional markets reopened following a Christmas holiday closure.

Most Asian stocks ended higher on Friday, as some markets returned from the Boxing Day holiday and investors assessed economic data from the region.

Chinas industrial profits extended declines to a fourth straight month, dropping 7.3% in November from a year earlier, signaling that Beijings stimulus measures have yet to meaningfully stem the slide in corporate earnings.

Investors assessed November inflation numbers from Tokyo, which saw its headline inflation rate come in at 3%, compared to 2.6% in October. Core inflation, which excludes costs of fresh food, rose to 2.4%. Tokyos inflation numbers are widely considered to be a leading indicator of nationwide trends.

Separately, Japans cabinet approved a historic budget of $732 billion for the fiscal year beginning in April, while restricting new bond issuance to its lowest level in 17 years, media reports stated. The approved budget is 2.6% larger than the current years budget. Overnight in the U.S., the Dow Jones Industrial Average erased earlier losses and squeezed out a small gain in thin trading Thursday after the markets strong back-to-back gains at the start of the holiday week.

The Dow closed the day 28.77 points, or 0.07%, higher to 43,325.80 after losing about 182 points earlier in the session. The S&P 500 dipped 2.45 points, or 0.04%, to 6,037.59. The Nasdaq Composite also ended the day lower, falling less than 0.1% to 20,020.36.

New Listing:

Shares of One Mamata Machinery were at Rs 629.95 on the BSE, representing a premium of 159.24% as compared with the issue price of Rs 243.

The scrip was listed at Rs 600, exhibiting a premium of 146.91% to the issue price. The stock has hit a high of 629.95 and a low of 599. On the BSE, over 2.96 lakh shares of the company were traded in the counter.

Shares of DAM Capital Advisors were at Rs 415.05 on the BSE, representing a premium of 46.66% as compared with the issue price of Rs 283.

The scrip was listed at Rs 392.90, exhibiting a premium of 38.83% to the issue price. The stock has hit a high of 456.90 and a low of 392.90. On the BSE, over 38.85 crore shares of the company were traded in the counter.

Shares of Transrail Lighting were at Rs 570.15 on the BSE, representing a premium of 31.98% as compared with the issue price of Rs 432.

The scrip was listed at Rs 553.30, exhibiting a premium of 28.08% to the issue price. The stock has hit a high of 604 and a low of 544.30. On the BSE, over 14.45 lakh shares of the company were traded in the counter.

Shares of Sanathan Textiles were at Rs 389 on the BSE, representing a premium of 21.18% as compared with the issue price of Rs 321.

The scrip was listed at Rs 419.10, exhibiting a premium of 30.56% to the issue price. The stock has hit a high of 422.65 and a low of 382.85. On the BSE, over 14.50 lakh shares of the company were traded in the counter.

Shares of Concord Enviro Systems were at Rs 828.45 on the BSE, representing a premium of 18.18% as compared with the issue price of Rs 701.

The scrip was listed at Rs 832, exhibiting a premium of 18.69% to the issue price. The stock has hit a high of 835 and a low of 800.50. On the BSE, over 6.74 lakh shares of the company were traded in the counter.

Stocks in Spotlight:

Power Mech Projects added 2.02% after the company secured an Rs 186 crore order from Jaiprakash Power Ventures. Under the order, it will provide field operation and maintenance services for the 2 x 660 MW Jaypee Nigrie Super Thermal Power Plant in Nigrie, Madhya Pradesh, for the next five-year period, starting from January 1, 2025, to December 31, 2029.

Gensol Engineering jumped 6.68% after the company secured an EPC contract worth Rs 897.47 crore from NTPC Renewable Energy Development for 225 MW grid-connected solar PV projects at GSECL Solar Park (Stage-III), Khavda, and Gujarat. The project includes three years of operation and maintenance.

Thomas Cook (India) advanced 2.24% after the company announced that its wholly owned subsidiary Sterling Holiday Resorts has announced the opening of Sterling Bagh Ranthambore, its 10th wildlife resort and 7th property in Rajasthan.

Dixon Technologies (India) fell 0.35%. The company announced that its wholly owned subsidiary, Dixon Electro Manufacturing, has entered into a Memorandum of Understanding (MoU) with Cellecor Gadgets for the manufacturing of refrigerators and related components for Cellecor.

Garware Technical Fibres rallied 4.61% after the company received an in-principle approval letter from the Bombay Stock Exchange (NSE) for a bonus issue in the ratio of 4:1.

Fortis Healthcare added 1.53% after the companys board approved the appointment of Leo Puri as the chairman of the board with effect from today, 27 December 2024.

NBCC (India) added 1.43% after the company announced that it has received multiple work orders totaling Rs 368.75 crore from various entities.

Jubilant FoodWorks rose 0.62%. The company announced that it has entered into a memorandum of understanding (MoU) with Coca-Cola India to procure sparkling beverages from the soft drink major's bottlers.

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