Stock Market Highlights: Sensex sheds 236 points, Nifty settles below 24,550; FMCG dips, IT shines
Markets Highlights: 35 out of 50 Nifty50 constituent stocks ended in the red, dragged by NTPC, Hindustan Unilever, Coal India, Hero MotoCorp, and BPCL
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11:02 AM
At 11 AM, the BSE Sensex was at 81,436.76, lower by 89.38 points, or 0.11 per cent, while the Nifty 50 was at 24,605.70, down by 36.10 points, or 0.15 per cent.![]()
Stock Market LIVE Updates: 11 AM market update - Sensex, Nifty muted in trade
Stock Market LIVE Updates: Benchmark Indian equity indices BSE Sensex and Nifty 50 were trading lower on Thursday.
At 11 AM, the BSE Sensex was at 81,436.76, lower by 89.38 points, or 0.11 per cent, while the Nifty 50 was at 24,605.70, down by 36.10 points, or 0.15 per cent.
10:58 AM
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Stock Market LIVE Updates: This smallcap has gained 103% within 2 months; zoomed over 300% in 6 months
Stock Market LIVE Updates: Kernex Microsystems hits new high: Shares of Kernex Microsystems hit a new high of Rs 1,385.80, as the scrip was locked in 5 per cent upper circuit on the BSE in Thursday’s intra-day trade amid heavy volumes on healthy outlook. The stock of Smallcap company is trading higher for the fifth straight day, surging 28 per cent during the period. READ MORE
10:45 AM
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Stock Market LIVE Updates: Nuvama slips 5% after 3.6 million shares change hands via block deal on NSE
Stock Market LIVE Updates: Nuvama Wealth Management shares lost 5.4 per cent in trade on Thursday and logged an intraday low of Rs 6,901 per share on BSE. The weakness in the stock came counter saw block deals.
Around 9:40 AM, 3.64 million shares changed hands on the National Stock Exchange (NSE) and 0.39 million shares changed hands on the BSE via block deals. Meanwhile, Nuvama share price was down 4.83 per cent at Rs 6,944.95 per share on BSE. In comparison, BSE Sensex was up 0.15 per cent at 81,647.16. READ MORE
10:37 AM
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Stock Market LIVE Updates: Vedanta board to declare 4th interim dividend on Dec 16; share price up 2%
Stock Market LIVE Updates: Mining major Vedanta shares were in demand on Thursday, December 12, 2024, as the scrip rose up to 1.86 per cent to hit an intraday high of Rs 523.70 per share. Notably, the share’s 52-week high is Rs 525.15.
The uptick in the Vedanta share price came after the company announced that the Board will meet on Monday, December 16, 2024, to consider and approve the Fourth Interim Dividend on equity shares, if any, for the Financial Year 2024-25 (FY25). READ MORE
10:36 AM
The company, in an exchange filing, said, "Cloudfiniti’s Sriperumbudur Data Centre has a built-in capacity of 30 MW, and of this, 12 MW colocation-ready capacity is live across two floors. The client, a leading cloud service provider has rented as much as 6 MW IT Load capacity, consisting of high-density racks spread over an entire floor, and a bulk bandwidth."
It added that the contract tenure is for 10 years.
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Stock Market LIVE Updates: L&T-Cloudfiniti bags first major client; rents out 6 MW IT load capacity for 10 yrs
Stock Market LIVE Updates: Larsen & Toubro today informed that its data centre business, L&T-Cloudfiniti has onboarded its first major customer at the state-of-the-art hyperscale data centre located in Sriperumbudur near Chennai.
The company, in an exchange filing, said, "Cloudfiniti’s Sriperumbudur Data Centre has a built-in capacity of 30 MW, and of this, 12 MW colocation-ready capacity is live across two floors. The client, a leading cloud service provider has rented as much as 6 MW IT Load capacity, consisting of high-density racks spread over an entire floor, and a bulk bandwidth."
It added that the contract tenure is for 10 years.
10:29 AM
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Stock Market LIVE Updates: Gland Pharma jumps 5% after USFDA nod for Vitamin-K deficiency drug
Stock Market LIVE Updates: Shares of Gland Pharma surged up to 4.76 per cent at Rs 1860 on the BSE in the early morning trade of Thursday after the company received a drug approval from the United States Food and Drugs Administration (US FDA).
The generic drugmaker received the nod from the USFDA for Phytonadione Injectable Emulsion. The product is bioequivalent and therapeutically equivalent to the reference listed drug (RLD), Vitamin K1 Injectable Emulsion, of Hospira, Inc. READ MORE
10:20 AM
Stock Market LIVE Updates: Nifty IT index climbs to new high; tops 46,000
Stock Market LIVE Updates: The Nifty IT index climbed to a new high of 46,002.65, driven by a surge in tech stocks following a rally in the tech-heavy Nasdaq index on Wall Street, that touched the 20,000 mark for the first time on Wednesday.
10:11 AM
The company's shares listed at Rs 180.50 apiece, a 90 per cent premium over the IPO allotment price of Rs 95. READ MORE
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Stock Market LIVE Updates: Emerald Tyre Manufacturers lists at 90% premium, hits upper circuit later
Stock Market LIVE Updates: Shares of tyre maker Emerald Tyre Manufacturers made a solid debut on the NSE SME today, Thursday, December 5, 2024, and continued their upward momentum, hitting the upper circuit within less than 5 minutes of listing.
The company's shares listed at Rs 180.50 apiece, a 90 per cent premium over the IPO allotment price of Rs 95. READ MORE
10:02 AM
At 10 AM, the BSE Sensex was at 81,565.73, higher by 39.59 points, or 0.05 per cent, while the Nifty 50 was at 24,632.95, down by 8.85 points, or 0.04 per cent.![]()
Stock Market LIVE Updates: 10 AM market update - Sensex, Nifty muted in trade
Stock Market LIVE Updates: Benchmark Indian equity indices BSE Sensex and Nifty 50 were trading with muted gains on Thursday.
At 10 AM, the BSE Sensex was at 81,565.73, higher by 39.59 points, or 0.05 per cent, while the Nifty 50 was at 24,632.95, down by 8.85 points, or 0.04 per cent.
9:54 AM
The one thing holding me back from saying which sectors and companies are going to be doing well, is what's going to happen when President-elect Donald Trump comes in.
One narrative we're seeing right now is higher tariffs and lower tax rates. Lower tax rates in the US could also mean lower rates in Europe. SO this means, flows will not necessarily come to emerging markets.
I think it's not going to be an index play, it's going to be individual themes which will continue to play up.
I don't see earnigns growing more than 10 per cent next year. And if its 10 per cent, then that's the kind of returns you'd expect for the market, so it's not going to be a bumpy year in terms of the market. And that's the best case scenario.![]()
Stock Market LIVE Updates: Andrew Holland on sectors with value in India markets
Stock Market LIVE Updates: Andrew Holland says for India, I am expecting the economy to slow quite quickly, but we could see interest rates fall as well, which should be good for the banks sometime in 2025.
The one thing holding me back from saying which sectors and companies are going to be doing well, is what's going to happen when President-elect Donald Trump comes in.
One narrative we're seeing right now is higher tariffs and lower tax rates. Lower tax rates in the US could also mean lower rates in Europe. SO this means, flows will not necessarily come to emerging markets.
I think it's not going to be an index play, it's going to be individual themes which will continue to play up.
I don't see earnigns growing more than 10 per cent next year. And if its 10 per cent, then that's the kind of returns you'd expect for the market, so it's not going to be a bumpy year in terms of the market. And that's the best case scenario.
9:48 AM
As for hotels, just getting a room, prices are unbelievably high. The hotel industry, with a few IPOs coming as well, the theme in terms of experiences and trouble is not going away.
One of the things that gives even more positivity on the sector, is that foreign tourists is still got to pick up. So if that's going to be the case, then this is going to be an extra revenue line for all the hotel companies across India. So that's coming as well.![]()
Stock Market LIVE Updates: Andrew Holland on sectors with value in India markets
Stock Market LIVE Updates: Andrew Holland says in the airline space, that's where revenue and bottomline profitability is going to come over the next one years; so that's an easy call to make. Also, fuel prices will come down, so that's also a tailwind for the airline industry as well.
As for hotels, just getting a room, prices are unbelievably high. The hotel industry, with a few IPOs coming as well, the theme in terms of experiences and trouble is not going away.
One of the things that gives even more positivity on the sector, is that foreign tourists is still got to pick up. So if that's going to be the case, then this is going to be an extra revenue line for all the hotel companies across India. So that's coming as well.
9:40 AM
I don't thing the banking sector can really take the mantle at this time. GDP growth is way below expectation, and the forecast is around 6. per cent, but I think it is going to be near 6 per cent. So there's a lot of pain to come yet.
I would hope the government starts spending, so I'd go for the capital goods segment, and look at that sector, and at least see some contracts being awarded. That doesn't mean its going to move the bottom line, but usually share prices move in this sector when they get contracts. So I'd say capital goods sectors could lead.![]()
Stock Market LIVE Updates: Andrew Holland on sectors with value in India markets
Stock Market LIVE Updates: Andrew Holland says going into January, you'll have expectations for the budget, notwithstanding the change in administration in the US. Volatility is going to be higher in January.
I don't thing the banking sector can really take the mantle at this time. GDP growth is way below expectation, and the forecast is around 6. per cent, but I think it is going to be near 6 per cent. So there's a lot of pain to come yet.
I would hope the government starts spending, so I'd go for the capital goods segment, and look at that sector, and at least see some contracts being awarded. That doesn't mean its going to move the bottom line, but usually share prices move in this sector when they get contracts. So I'd say capital goods sectors could lead.
9:35 AM![]()
Stock Market LIVE Updates: Andrew Holland on sectors with value in India markets
Stock Market LIVE Updates: Andrew Holland says the market is hoping for a an extra Santa Claus rally; FIIs will pack up and go off on their holidays soon; so the tendency is to not sell in this month because usually you get reasonable return.
9:31 AM
Looking at the US technology sectors and new areas, that's where the growth is, but the valuations are also quite rich.
You've got a call between looking at the value in the traditional sectors, but knowing that downgrades are coming, not really want to pay up for some of the high growth areas.
One of the things is electronics manufacturing; that's a great one. They've got a 3-5 year run way, of which they can make huge amounts of topline and bottomline profitability, so that's one area we continue to look at.
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Stock Market LIVE Updates: Andrew Holland of Avendus Capital Public Markets Alternate Strategies on CNBC TV18
Stock Market LIVE Updates: Andrew Holland, says, whereever you look, there's a valuation problem; you're getting earnings downgrade. Some of the traditional sectors are getting hurt because the margins and topline are under pressure.
Looking at the US technology sectors and new areas, that's where the growth is, but the valuations are also quite rich.
You've got a call between looking at the value in the traditional sectors, but knowing that downgrades are coming, not really want to pay up for some of the high growth areas.
One of the things is electronics manufacturing; that's a great one. They've got a 3-5 year run way, of which they can make huge amounts of topline and bottomline profitability, so that's one area we continue to look at.
9:20 AM
Stock Market LIVE Updates: Nifty IT is the top sectoral gainer
Stock Market LIVE Updates: Nifty IT is the top sectoral gainer
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First Published: Dec 12 2024 | 7:49 AM IST
