Stock Market Close Highlights: Sensex sheds 502pts, Nifty ends below 24,200; Banking, financials dip

Stock Markets Today Highlights: 33 of the 50 constituents of Nifty50 ended in the red, dragged by Tata Motors, Power Grid, BEL, JSW Steel, and NTPC, extending losses of up to 2.92 per cent

9:25 AM

Stock Market LIVE Updates: Powergrid, Trent, BPCL fall on NSE

Powergrid, Trent, BPCL fall on NSE.

9:23 AM

Stock Market LIVE Updates: Nifty Pharma, Healthcare shine

Among sectors, Nifty Pharma as well Nifty Healthcare led the gains. 

9:21 AM

Stock Market LIVE Updates: Tata Motors, Powergrid, L&T lead losses on Sensex

Tata Motors, Powergrid, L&T lead losses on Sensex.

9:19 AM

Stock Market LIVE Updates: Nifty below 24,350 level

NSE's Nifty50 was trading 0.11 per cent lower at 24,310 level.

9:17 AM

Stock Market LIVE Updates: Sensex opens marginally lower

The BSE Sensex was down 0.09 per cent at 80,614. 

9:11 AM

Stock Market LIVE Updates: Nifty below 24,300 in pre-open

NSE's Nifty50 fell 0.23 per cent at 24,280 level in pre-open.

9:09 AM

Stock Market LIVE Updates: Sensex flat in pre-open

The BSE Sensex was flat at 80,678 level, down 0.01 per cent. 

9:06 AM

Stock Market LIVE Updates: Rupee opens at Rs 84.92

The rupee depreciated by 2 paise to Rs 84.92 against the US dollar on Wednesday.

8:58 AM

Stock Market LIVE Updates: Vinay Rajani of HDFC Sec picks 2 stocks to buy today, shares Nifty outlook

Stock Market LIVE Updates: The Nifty index fell for a second consecutive session on Tuesday, registering a sharp cut of 332 points or 1.35 per cent, to close at 24,336. Yesterday's fall has resulted in to a violation of 5, 10, 20 and 50 days EMA supports altogether. An upward sloping trend line adjoining the lows of November 21 and December 13, 2024, projects the support near 24,300.

 

Any level below 24,300 would confirm the bearish trend reversal for the short term, which could drag the Nifty towards an immediate support of 24,180. Resistance for the index has shifted down to 24,500. READ MORE

 

 

8:57 AM

Stock Market LIVE Updates: 'Near-term market construct has turned weak with FIIs turning sellers on rallies'

Stock Market LIVE Updates: "The near-term market construct has turned weak with FIIs turning sellers on rallies. The trend of FII buying in early December has proved to be, as feared, a flash in the pan. Yesterday’s massive FII sell figure of Rs 6,410 crores in the cash market indicates that more selling is in store on market bounces. The underlying reason for the FII selling in India is the outperformance of US and the underperformance of India. 

While the S&P 500 is up 27.5 per cent YTD, Nifty is up only 12 per cent YTD. The fear is that this huge variation in relative performances may continue, given the strength of the US economy and the weakness in the Indian economy. The situation will change if leading indicators in India suggest recovery in GDP growth and corporate earnings in Q3.

The focus of global markets today will be the Fed decision expected tonight. A 25 bp rate cut is priced-in by the market. So,the attention will be on the Fed commentary. A significant trend in the Indian market is the outperformance of the broader market where good results are getting appreciated by the market and there is no concern of FII selling."

Views by: Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services

 

8:54 AM

Stock Market LIVE Updates: Saudi Arabia cancels 300 MLD sea Desalination Plant tender awarded to VA Tech Wabag

Stock Market LIVE Updates: VA Tech Wabag today informed that a the tender for a work order for a 300 MLD Mega Sea Desalination Plant in the Kingdom of Saudi Arabia, as been cancelled by the country due to internal administrative procedures. 

The company, in an exchange filing, said, "With reference to our above intimation dated September 06, 2024 relating to 300 MLD Mega Sea Water Desalination Plant Order in the Kingdom of Saudi Arabia, we hereby inform that the Customer has notified all tender participants on December 16, 2024, that the said tender stands cancelled pursuant to their internal administrative procedures. We are currently in touch with the Customer to understand and comprehend the reasons in detail."

8:47 AM

Stock Market LIVE Updates: Govt plans up to 25% temporary tax to curb cheap Chinese steel imports

Stock Market LIVE Updates: India is likely to impose a "safeguard duty" or temporary tax of up to 25 per cent on steel imports, industry and government sources said, to help to curb cheap imports from top producer China.

 

The proposal gained broad support at a meeting chaired by commerce minister Piyush Goyal on Tuesday after small industries dropped initial opposition once they received assurances that they would not be hit by higher steel prices. READ MORE

 

8:45 AM

Stock Market LIVE Updates: EV launches in India to double in 2025, SUVs dominate new lineups

Stock Market LIVE Updates: If SUVs (sport utility vehicles) were the flavour of 2024, EVs (electric vehicles) may turn out to be the big theme for 2025. Automakers are gearing up for some 15 to 20 EV launches in the coming year, doubling from a modest seven to eight in 2024.

While industry leaders such as Maruti Suzuki, Tata Motors, Mahindra & Mahindra, Hyundai, and MG Motors are getting ready to roll out their wide range of EV models in the new year, luxury car makers are moving in that direction too. Many of these EVs are likely to be SUVs. READ MORE

 

8:42 AM

Stock Market LIVE Updates: Indian companies push marketing spend as sales hit slow lane, shows data

Stock Market LIVE Updates: Amid muted revenue growth, companies ramped up spending on attracting customers in the previous quarter, marking the highest levels in four years.

 

Advertising and marketing expenses as a proportion of net sales rose to 0.39 per cent in the September 2024 quarter, up from 0.36 per cent in the year-ago quarter and 0.3 per cent in the corresponding period of 2022, according to data from tracker Centre for Monitoring Indian Economy.  The latest figure is the highest since the Covid-hit September 2020 quarter when it reached 0.4 per cent. READ MORE

 

 

8:36 AM

Stock Market LIVE Updates: A fifth of AIF investments questionable in terms of intent: Sebi official

Stock Market LIVE Updates: Around Rs 1 trillion, or a fifth of the investments made by alternative investment funds (AIFs) are questionable in terms of the intent behind the investments and are under the scanner for circumvention of regulations, said Ananth Narayan, whole-time member of Securities and Exchange Board of India (Sebi).

 

AIFs are pooled investment vehicles that invest in a variety of assets including real estate, startups, unlisted companies, and derivative strategies in the listed space. READ MORE