Stock Market Highlights: Sensex sheds 200 points, Nifty ends below 24,620; FMCG, banking shares dip

Markets Highlights: Benchmark Indian equity indices BSE Sensex, and Nifty 50 settled in the negative territory on Monday

SI Reporter New Delhi

Stock Market Highlights: Sensex sheds 200 points, Nifty ends below 24,620; FMCG, banking shares dip

10:39 AM

Stock Market LIVE Updates: CEAT races 9%, hits record on buying Camso brand from Michelin for $225 mn

Stock Market LIVE Updates: Tyre manufacturer CEAT share was buzzing in trade on Monday, December 9, 2024, as the scrip climbed up to 9.23 per cent to hit an all-time high of Rs 3,377.60 per share.

The northward move in the CEAT share came after the company announced that it has acquired Camso brand’s Off-Highway construction equipment bias tyre and tracks business from Michelin for $225 million. READ MORE

10:37 AM

Stock Market LIVE Updates: Timothy Moe of Goldman Sachs on India markets during Trump 2.0

Stock Market LIVE Updates: Timothy Moe of Goldman Sachs, says we love the India story and have done so for quite some time.

We downgraded our view on India about six weeks ago because of two reasons: valuations were very high on September 26, when they were at 25 times forward earnings; and number two, we expected a mid-cycle correction both at the economic level and earnings level.

We have taken our numbers down for earnings, and at consensus, at the end of September, we were looking at 14-15 per cent growth for 2024-25; now we're looking at 12-13 per cent, and taken 2-3 per cent out from each year.

10:31 AM

Stock Market LIVE Updates: Timothy Moe of Goldman Sachs on India markets during Trump 2.0

Stock Market LIVE Updates: Timothy Moe of Goldman Sachs, says our research shows, for Asia, there's a clear linkage between increases in global economomic policy uncertainty and Asian earnings; and also in Europe, we took our forecast down from 1.1 per cent Euro area GDP to 0.8%.

The better news for India, is that it is a more domestically-oriented economy, its got much more domestic engines, as compared to more globally-oriented economies like China, Japan or Korea.

10:26 AM

Stock Market LIVE Updates: Timothy Moe of Goldman Sachs on India markets during Trump 2.0

Stock Market LIVE Updates: Timothy Moe of Goldman Sachs says the US has already rallied quite sharply since the election.

Our base case is for the US to impose a 25 per cent increase in tariffs on China; and some tariffs auto exports from Europe and Mexico to the US; but not across the board 10 per cent tariffs as had been raised as a possibility. If that happens, that will be much more negative for global growth, but it'd also impact the US with regard to inflation and growth.

10:20 AM

Stock Market LIVE Updates: Timothy Moe of Goldman Sachs on India markets during Trump 2.0

Stock Market LIVE Updates: Timothy Moe of Goldman Sachs on CNBC TV18 talks about India markets during Trump 2.0

Moe says that US exceptionalism has already drawn money away from EMs.

The long standing outperformance of the US equity markets has made it 70 per cent of the gloal market cap, hence money is naturally attracted there, just to be at the benchmark.

Post the US election, the narrative of US exceptionalism has been strengthened, because of three major shifts from an Asia perspective: somewhat lower growth in China, and maybe rippling out a little further; higher long-term US rates; and a stronger dollar. These are more headwinds for Asia, attracting more money towards the US.

10:12 AM

Stock Market LIVE Updates: Grasim adds 400 tonne per day capacity with for Caustic Soda Lye at Gujarat plant

Stock Market LIVE Updates: Grasim Industries informed on Sunday that it has commissioned additional production capacity of 400 tonne per day (TPD) for Caustic Soda Lye at its Vilayat Plant located in Gujarat on December 8.

THe company, in an exchange filing, said, "This is to inform that our Company has successfully commissioned project expansion of Caustic Soda Lye at its Vilayat Plant, Gujarat on 8th December 2024 with an increased capacity of 400 Ton Per Day (TPD) resulting into an additional annualised revenue of ~ Rs. 500 crore. "

The company added that th ethe overall capacity of producing Caustic Soda Lye post expansion of 400 TPD is 1,400 TPD as against 1,000 TPD earlier.

10:08 AM

Stock Market LIVE Updates: Roto Pumps shares jump 10% after co secures 400 new orders; details

Stock Market LIVE Updates: Shares of Roto Pumps rose as much as 10.2 per cent at Rs 310.95 per share on the BSE in Monday’s intraday trade. The stock price surged after the company on Saturday said that it has secured over 400 orders for its newly launched ‘Solar Submersible Pumping Systems’.

These systems deliver exceptional efficiency, with one model pumping water from a 200-meter borewell using 1500 Wp of solar power, the company said in a statement. READ MORE

10:01 AM

Stock Market LIVE Updates: 10 AM market update - Sensex, Nifty trade lower

Stock Market LIVE Updates: Benchmark Indian equity indices BSE Sensex and Nifty 50 were trading lower on Monday.

At 10 AM, the BSE Sensex was 170 points, or 0.21 per cent lower, at 81,538, while the Nifty 50 was at 24,623, down 53.90 points, or 0.22 per cent.

9:51 AM

Stock Market LIVE Updates: Paytm gains 3% on plans to sell its stake in PayPay to SoftBank for Rs 2,364 cr

Stock Market LIVE Updates: One 97 Communications, the parent company of Paytm's Singapore entity is set to sell its stake in Japanese fintech corporation PayPay to Softbank Vision Fund 2 for Rs 2,364 crore.

9:44 AM

Stock Market LIVE Updates: Nifty FMCG down 1%; GCPL drags as company expects flat volume growth in Q3

Stock Market LIVE Updates: Nifty FMCG index was down over 1 per cent in Monday's trade dragged by Godrej Consumer Product (GCPL). Godrej Consumer Product shares lost 9.3 per cent in trade and recorded a day's low at Rs 1,120 per share. The selling pressure in the stock came after the company said it expects a "flattish" underlying volume growth and a mid-single-digit sales growth in the domestic market in the December quarter. READ MORE

9:37 AM

Stock Market LIVE Updates: CEAT jumps 9% on signing deal to acquire Michelin's Camso brand's OHT and track biz

Stock Market LIVE Updates: Tyre maker and RPG Group company CEAT has entered into a definitive agreement with Michelin to acquire its Camso brand's off-highway tyres (OHT) and tracks business for about USD 225 million (about Rs 1,905 crore).

9:29 AM

Stock Market LIVE Updates: Godrej Consumer Products falls 10% after flagging subdued demand conditions for Q3

Stock Market LIVE Updates: Impacted by an increase in soap prices and unseasonal rainfall slowing down sales of the home insecticides (HI) segment, the company expects a "flattish" underlying volume growth and a mid-single-digit sales growth in the domestic market in the December quarter.