Stock Market LIVE Updates: Sensex falls 800 pts to 78,400; IT index drops 2%; Financials, Auto drag
Markets Today LIVE: Benchmark Indian equity indices BSE Sensex and Nifty 50 were trading on with deep cuts on Friday, amid mixed global cues
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Share Market Today: Foreign Institutional Investors (FIIs) net sold Indian equities worth Rs 4,224.92 crore on December 19, while domestic institutional investors (DIIs) net bought shares worth Rs 3,943.24 crore on Thursday. (Photo: Shutterstock)
Stock Market LIVE Updates, Friday, December 20, 2024: Benchmark Indian equity indices BSE Sensex and Nifty 50 were trading lower on Friday amid mixed global cues.
At 1 PM, the BSE Sensex was lower by 741.79 points, or 0.94 per cent, at 78,476.26, while the Nifty 50 was at 23,750.60, lower by 201.10 points, or 0.84 per cent.
In the afternoon, more than half the stocks on the 30-stock BSE Sensex were trading lower, with losses capped by Axis Bank (down 1.88 per cent), followed by Tech Mahindra, UltraTech Cement, IndusInd Bank, and Larsen & Toubro, while gains were led by JSW Steel (up 1.19 per cent), followe by Maruti Suzuki India, Bajaj Finserv, Titan, and NTPC.
On the Nifty 50, 29 out of the 50 stocks were trading higher, with gains led by Dr Reddy's (up 2.46 per cent), followed by Hindalco Industries, JSW Steel, Apollo Hospital Enterprises, and BEL, while losses were capped by Axis Bank (down 1.87 per cent), followed by Tech Mahindra, UltraTech Cement, IndusInd Bank, and Larsen & Toubro.
Across sectors, the IT index was the top drag, falling 1.25 per cent, followed by the Realty, Private Bank, Bank, Media and Financial Services indices. On the flip side, among the gainers, the Oil & Gas index was the top gainer, climbing 0.81 per cent, followed by the Metal, Healthcare and Pharma indices.
In the broader markets, meanwhile, the Nifty Smallcap 100 index was lower by 0.03 per cent and the Nifty Midcap 100 index was behind by 0.47 per cent.
Goldman Sachs outlined its strategic vision for Indian equities in 2025. The firm identified sectors such as housing, agriculture, defense, tourism, and the rapidly growing segment of affluent consumers to drive the next phase of economic expansion in India.
The New York-based investment bank anticipates the Nifty50 index to hit 24,000 (+2 per cent) over the next three months, followed by a back-loaded recovery to a 12-month target of 27,000, fuelled by underlying earnings growth. READ MORE
In the primary markets, shares of International Gemmological Institute (India) made a decent debut on D-Street on Friday, December 20. On the NSE, IGI shares listed at Rs 510, reflecting a premium of 22.30 per cent per share against the issue price of Rs 417. READ MORE
In the SME section, shares of Hamps Bio also made a solid debut on the BSE SME today, and continued their upward momentum to hit the upper circuit within a few minutes of listing. The company's stock listed at Rs 96.90 apiece, a 90 per cent premium over the IPO allotment price of Rs 51.
After listing, the Hamps Bio shares gained an additional 5 per cent, surging 99.49 per cent from the issue price to reach the upper circuit of Rs 101.74 apiece on the BSE SME. READ MORE
Elsewhere, Asian shares hit a fresh three-month low on Friday as investors awaited key US inflation data that could either ease or worsen concerns about stubbornly high price pressures, while the dollar towered at two-year peaks.
European markets are set for a lower open, with EUROSTOXX 50 futures down a sizeable 1 per cent. Nasdaq futures fell 0.6 per cent, while S&P 500 futures dropped 0.3 per cent.
A closely watched US inflation gauge - the Core Personal Consumption Expenditures - is due later in the day. Forecasts are centred on a monthly rise of 0.2 per cent for November, and any upward surprises could lead markets to further scale back bets for US policy easing next year.
Investors are also expressing alarm that even some Republicans are not fans of President-elect Donald Trump's big spending plans, with the US government facing a potential shutdown on Saturday. The debate has laid bare fault lines in Trump's Republican Party that could resurface next year.
Trump's proposed policies of tariffs, tax cuts and big spending are part of the reason the Fed has turned cautious about policy easing next year. Markets now see less than two rate cuts next year to a terminal rate of 3.9 per cent, much higher than a few months ago.
That outlook took a heavy toll on the Treasury market, where the benchmark 10-year yields jumped 40 bps over the past two weeks to cross above a key level of 4.5 per cent for the first time since May.
In Asia, MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.6 per cent on Friday to a fresh three-month low and was headed for a weekly drop of 3 per cent.
Japan's Nikkei was flat but down 1.7 per cent for the week. Both China's blue chips and Hong Kong's Hang Seng edged up 0.2 per cent. The People's Bank of China left its benchmark lending rates unchanged on Friday, matching market expectations.
Wrapping an eventful year of rate decisions, central banks in Britain, Japan, Norway and Australia held firm, and Switzerland and Canada implemented cuts of 50 basis points at their last meetings of the year. Sweden's Riksbank reduced its policy rate by 25 bps, as did the European Central Bank last week.
All of it meant the dollar was standing tall against its major peers at a two-year peak of 108.43, enjoying some interest rate advantage.
Data on Friday showed Japan's core inflation accelerated in November, but swaps continued to lean towards a pause from the BOJ in January, which is 58 per cent priced in.
Treasuries look set for a fourth straight year of losses, with the 10-year yields up a whopping 70 bps this year. They climbed 16 bps this week to 4.56 per cent.
The commodities market has also taken a hit because of a strong US dollar. Oil prices fell on Friday, with US West Texas Intermediate down 0.6 per cent to $68.98 and 2.8 per cent lower for the week.
Gold prices are set for a 2 per cent fall this week to $2,596 per ounce.
(With inputs from Reuters.)
1:48 PM
Stock Market LIVE Updates: Dhanlaxmi Bank share price up 5%; here's what's boosting rally in stock
Stock Market LIVE Updates: Dhanlaxmi Bank shares rose 5.4 per cent in Friday's trade, logging an intraday high at Rs 42.54 per share on BSE. The stock was in demand after the company's board sanctioned raising Rs 297.54 crore through rights issue with a total issue of 14,16,86,767 rights shares each.
Around 11:07 AM, Dhanlaxmi share price was up 3.69 per cent at Rs 41.82 per share on BSE. In comparison, the BSE Sensex was down 0.02 per cent at 79,205.56. The market capitalisation of the company stood at Rs 1,058.35 crore. READ MORE
1:37 PM
Stock Market LIVE Updates: Top wealth creators in India: Ashish Kacholia, Mukul Agrawal lead 2024
Stock Market LIVE Updates: Several prominent investors have significantly increased their wealth in 2024, positioning themselves among the top 15 wealthiest individual investors in India, Moneycontrol reported citing data from PrimeInfobase. Ace investor Ashish Kacholia witnessed a remarkable 88 per cent growth in his portfolio, which surged from Rs 1,191 crore in December 2023 to Rs 2,247 crore by December 17, 2024. This impressive rise places him among the leading wealth creators in the country. READ MORE
1:29 PM
Stock Market LIVE Updates: Breakout stock: GIC RE share price up 12%, hits record high on heavy volume
Stock Market LIVE Updates: General Insurance Corporation of India (GIC-RE) share price soared as much as 11.8 per cent to hit an all-time high of Rs 494.65 per share on the BSE on Friday, December 20, 2024. GIC RE share price was ruling 11 per cent higher at Rs 490.7 per share at 1:17 PM on the exchange, even as the benchmark BSE Sensex index was down 778 points (0.98 per cent) at 78,441 level. READ MORE
1:16 PM
Stock Market LIVE Updates: Mamata Machinery IPO Day 2: Subscription soars 23x, GMP zooms 107%
Stock Market LIVE Updates: Mamata Machinery has received an enthusiastic response from investors for its initial public offering (IPO), which opened for subscription on Thursday, December 19, 2024. The Rs 179.39 crore offering has been subscribed 23.46 times as of 11:33 AM on Friday, December 20, 2024, according to data available on the National Stock Exchange (NSE).
The Mamata Machinery IPO has witnessed the highest demand among Retail Individual Investors (RIIs), who have oversubscribed the category reserved for them by 33.64 times. This was followed by Non-Institutional Investors (NIIs), who have oversubscribed their category by 28.46 times, and Qualified Institutional Buyers (QIBs) at 1.52 times. READ MORE
1:05 PM
The company, in an exchange filing, said, the consolidation aims build a robust green finance portfolio through financing EVs, battery charging stations, renewable energy products and solutions, energy efficient machinery, etc.
The company added that it has set a target to achieve an Asset Under Management (AUM) of Rs 5,000 crore for this vertical over the next 3–4 years.
Stock Market LIVE Updates: Shriram Finance consolidates green finance biz; aims for Rs 5,000 cr AUM in 3-4 yrs
Stock Market LIVE Updates: Shriram Finance today informed that it is consolidating all its green financing initiatives under Shriram Green Finance, dedicated to funding initiatives beyond electric vehicles.
The company, in an exchange filing, said, the consolidation aims build a robust green finance portfolio through financing EVs, battery charging stations, renewable energy products and solutions, energy efficient machinery, etc.
The company added that it has set a target to achieve an Asset Under Management (AUM) of Rs 5,000 crore for this vertical over the next 3–4 years.
1:02 PM
At 1 PM, the BSE Sensex was lower by 741.79 points, or 0.94 per cent, at 78,476.26, while the Nifty 50 was at 23,750.60, lower by 201.10 points, or 0.84 per cent.
Stock Market LIVE Updates: 1 PM market update - Sensex, Nifty trade with deep cuts
Stock Market LIVE Updates: Benchmark Indian equity indices BSE Sensex and Nifty 50 were trading lower on Friday amid mixed global cues.
At 1 PM, the BSE Sensex was lower by 741.79 points, or 0.94 per cent, at 78,476.26, while the Nifty 50 was at 23,750.60, lower by 201.10 points, or 0.84 per cent.
12:56 PM
Stock Market LIVE Updates: PE investments in residential realty up 104% on year, Mumbai most favoured
Stock Market LIVE Updates: Private equity (PE) investment in Indian real estate has reached $ 4.2 billion in 2024, representing a 32% year-on-year (YoY) growth, according to a report by real estate consultancy firm KnightFrank India. Among the various sectors, residential real estate has emerged as a standout performer, with a 104% surge in PE investments.
Notably, in 2024, PE investments more than doubled in the residential sector which saw a remarkable 104% increase in PE investments, amounting to $ 1.2 billion in 2024, demonstrating investor confidence in this segment which has been noting a consistent rise in end-user demand. READ MORE
12:52 PM
Stock Market LIVE Updates: Why Brainbees Solutions, parent to FirstCry gained 4% in trade on Dec 20?
Stock Market LIVE Updates: Brainbees Solutions, parent company of FirstCry, shares rose 3.9 per cent in trade, logging an intraday high at Rs 630 per share on BSE. The rally in the stock came after JM Financial has initiated coverage on the stock with a 'Buy' call.
Around 11:41 AM, Brainbees shares rose 3.14 per cent at Rs 624.9 per share on BSE. In comparison, the BSE Sensex was down 0.25 per cent at 79,018.10. The market capitalisation of the company stood at Rs 32,443.82 crore. The 52-week high of the company stood at Rs 734.25 per share and the 52-week low stood at Rs 513.8 per share. READ MORE
12:43 PM
Stock Market LIVE Updates: This recently listed stock jumped 70% in 1 mth after going below IPO price
Stock Market LIVE Updates: Garuda Construction and Engineering share price: Shares of Garuda Construction and Engineering moved higher by 13 per cent to Rs 128.90 on the BSE in Friday’s intra-day trade amid heavy volumes in an otherwise weak market. The stock of the civil construction company is trading higher for the third straight day, surging 36 per cent during the period.
Currently, Garuda Construction is trading 36 per cent higher over its issue price of Rs 95 per share. The company had made its stock market debut on October 15, 2024. READ MORE
12:32 PM
Stock Market LIVE Updates: BASF jumps 8% after board approves demerger, listing of agricultural biz
Stock Market LIVE Updates: BASF shares jumped 7.6 per cent in Friday's trade, logging an intraday high at Rs 5,944.3 per share on BSE. The buying sparked after the company's board approved the demerge of its agricultural solution business by 2027 and list it as a separate entity on bourses through an initial public offer (IPO).
Around 10:24 AM, BASF share price was up 7.2 per cent at Rs 5,853.1 per share on BSE. In comparison, the BSE Sensex was down 0.21 per cent at 79,052.37. The market capitalisation of the company stood at Rs 25,335.52 crore. READ MORE
12:23 PM
Stock Market LIVE Updates: Motilal Oswal initiates coverage on Anant Raj with 'Buy'; share hits record
Stock Market LIVE Updates: Real estate company Anant Raj shares were buzzing in trade on Friday, December 20, 2024, as the scrip soared up to 3.74 per cent to hit an all-time high (record high) of Rs 869 apiece.
The rise in Anant Raj share price came after domestic brokerage Motilal Oswal Financial Services Limited (MOFSL) initiated coverage with ‘Buy’ for a target price of Rs 1,100, reflecting an upside of 31.3 per cent from the previous close (December 19) of Rs 837.60. READ MORE
12:15 PM
Stock Market LIVE Updates: Sunflag Iron hits new high on healthy outlook; stock zooms 58% in one month
Stock Market LIVE Updates: Sunflag Iron & Steel shares hit a new high of Rs 307.25, rallied 8 per cent on the BSE in Friday’s intra-day trade, surging 13 per cent in two days on a healthy outlook. In one month, the stock price of this smallcap iron and steel company has zoomed 58 per cent.
At 10:02 AM, Sunflag Iron & Steel was trading 7 per cent higher at Rs 305.55, as compared to the 0.54 per cent decline in the BSE Sensex. READ MORE
12:05 PM
The company, in an exchange filing, said, "We wish to inform you that in respect of the QIP, the Fund Raising Committee of the Company has, at its meeting today, i.e. 19th December, 2024, inter alia, passed the following resolutions:
(i) approved and declared the closure of issue period for the QIP today, i.e. 19th December, 2024... ;
(ii) determined and approved the issue price for 47,70,537 Equity Shares to be allotted to eligible QIBs at a price of ₹ 2,096.20 per Equity Share, including a premium of ₹ 2,094.20 per Equity Share, which takes into account a discount of ₹ 110.29 per Equity Share on the floor price amounting to ₹ 2,206.49 per Equity Share (5% of the floor price)... ;
(iii) approved and finalised the confirmation of allocation note to be sent to eligible qualified institutional buyers, intimating them of allocation of Equity Shares pursuant to the QIP;
(iv) approved and adopted the placement document dated 19th December, 2024 in connection with the QIP"
Stock Market LIVE Updates: Gravita India successfully raises Rs 100 crore via QIP issue
Stock Market LIVE Updates: Gravita India today informed that the fund raising committee of its board of directions on December 19, approved the closure of issue for its QIP issue to raise Rs 100 crore.
The company, in an exchange filing, said, "We wish to inform you that in respect of the QIP, the Fund Raising Committee of the Company has, at its meeting today, i.e. 19th December, 2024, inter alia, passed the following resolutions:
(i) approved and declared the closure of issue period for the QIP today, i.e. 19th December, 2024... ;
(ii) determined and approved the issue price for 47,70,537 Equity Shares to be allotted to eligible QIBs at a price of ₹ 2,096.20 per Equity Share, including a premium of ₹ 2,094.20 per Equity Share, which takes into account a discount of ₹ 110.29 per Equity Share on the floor price amounting to ₹ 2,206.49 per Equity Share (5% of the floor price)... ;
(iii) approved and finalised the confirmation of allocation note to be sent to eligible qualified institutional buyers, intimating them of allocation of Equity Shares pursuant to the QIP;
(iv) approved and adopted the placement document dated 19th December, 2024 in connection with the QIP"
12:01 PM
At 12 PM, the BSE Sensex was lower by 108 points, or 0.14 per cent, at 79,110.01, while the Nifty 50 was at 23,939.25, behind by 12.45 points, or 0.05 per cent.
Stock Market LIVE Updates: 12 PM market update - Sensex, Nifty pare losses, trade flat
Stock Market LIVE Updates: Benchmark Indian equity indices BSE Sensex and Nifty 50 were trading on a muted note on Friday after paring most of the losses since opening with mixed levels amid a slew of mixed global cues.
At 12 PM, the BSE Sensex was lower by 108 points, or 0.14 per cent, at 79,110.01, while the Nifty 50 was at 23,939.25, behind by 12.45 points, or 0.05 per cent.
11:53 AM
Stock Market LIVE Updates: Uno Minda gains 4% after NCLT approves merger of 3 entities with company
Stock Market LIVE Updates: Uno Minda shares gained 4.1 per cent in Friday's trade, logging an intraday high at Rs 1,090 per share on BSE. The stock gained after the National Company Law Tribunal (NCLT) approved the merger of Kosei Minda Aluminum Company, Kosei Minda Mould, and Minda Kosei Aluminum Wheel with Uno Minda.
Around 9:53 AM, Uno Minda share price was up 2.48 per cent at Rs 1,073 per share on BSE. In comparison, the BSE Sensex was down 0.17 per cent at 79,082.74. The market capitalisation of the company stood at Rs 61,607.72 crore. READ MORE
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First Published: Dec 20 2024 | 7:48 AM IST
