Stock Market Close Highlights: Sensex sheds 721pts, Nifty holds 24,000; HDFC, ICICI Bank weigh

Markets Today Highlights:32 out of 50 constituent stocks of Nifty50 ended in the red, dragged by Wipro, HDFC Bank, Tech Mahindra, Adani Ports, and Cipla, with losses extending up to 2.83 per cent

9:03 AM

Stock Market LIVE Updates: Too early to conclude that FIIs will continue to buy

The uncanny ability of the market to surprise was evident in yesterday’s massive 445 point rally in Nifty. Even though FII buying helped in the rally, at Rs 1506 crores net buying it was not good enough to trigger such a massive 1.8 per cent rally in Nifty.

Short covering in certain beaten down fundamentally strong stocks like the Bajaj Twins and sharp spurts in auto stocks assisted by better-than-expected December sales numbers have contributed to the rally. Largecaps outperforming smallcaps is a positive signal and may continue.

However, it is too early to conclude that FIIs will continue to buy. With dollar index at 109.25 and the U.S. 10-year yield at 4.56 per cent the macro construct is not favourable for sustained FII buying. Impressive pick up in deposit growth augurs well for banking stocks which are fairly priced.

(View by: Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services)

8:58 AM

Stock Market LIVE Updates: NBFCs seek reforms in pre-budget talks to boost liquidity, ease challenges

Stock Market LIVE Updates: During a pre-Budget consultation with stakeholders from the financial sector and capital markets, the Finance Industry Development Council (FIDC)—a key representative body of Non-Banking Financial Companies (NBFCs) —has called for major reforms to ease operational burden and improve liquidity for NBFCs.

 

One of their requests was the reduction in the loan amount threshold for enforcing security interest under the SARFAESI Act, from Rs 20 lakh to Rs 1 lakh. READ MORE

 

8:53 AM

Stock Market LIVE Updates: Gold climbs Rs 10, silver falls Rs 100; yellow metal trading at Rs 78,340

Stock Market LIVE Updates: The price of 24-carat gold rose Rs 10 in early trade on Friday, with ten grams of the precious metal trading at Rs 78,340 according to the GoodReturns website. The price of silver declined by Rs 100, with one kilogram of the precious metal selling at Rs 90,400.

The price of 22-carat gold also rose by Rs 10, with ten grams of the yellow metal selling at Rs 71,810.
 

The price of ten grams of 24-carat gold in Mumbai is in line with prices in Kolkata, Chennai, and Hyderabad at Rs 78,340. READ MORE

 

8:50 AM

Stock Market LIVE Updates: Policy change, seasonal uptick to drive gains for United Spirits stock

Stock Market LIVE Updates: The stock of the country’s largest alcohol beverage maker United Spirits has been hitting its lifetime highs over the last few trading

sessions.

United Spirits is up 10 per cent over the past month on expectations of a strong growth in Q3 led by the festival season, launches and improved outlook across segments.
 

The Nifty50, in comparison, is flat over this period. READ MORE

 

 

8:49 AM

Stock Market LIVE Updates: Rupee closes at fresh low of 85.76 against dollar despite RBI intervention

Stock Market LIVE Updates: The rupee further weakened against the dollar on Thursday and hit another record closing low of Rs 85.76 compared to its previous close of Rs 85.65.

The Reserve Bank of India (RBI) intervened to sell dollars at Rs 85.78 levels which pulled down the Indian currency to Rs 85.67 during afternoon trade. The rupee, however, weakened again to close at a new low.
 

State-run banks were spotted selling dollars to the tune of $800 million to $1 billion, traders said. READ MORE

 

8:48 AM

Stock Market LIVE Updates: Ulips will grow as Indians have faith in stock mkts: PolicyBazaar.com CEO

Stock Market LIVE Updates: With the onset of the new year, Sarbvir Singh, chief executive officer of PolicyBazaar.com, spoke to Business Standard's Aathira Varier about the major trends that dominated the insurance space in 2024 and the trends to look forward to in the new year. READ MORE

 

8:46 AM

Stock Market LIVE Updates: Fixed income outlook 2025: Lock into peak rates as cuts are likely

Stock Market LIVE Updates: The year 2025 may witness significant activity in the fixed-income space as interest rates are expected to decline. With equity markets consolidating, more investors are likely to explore fixed-income options.

 

“Fixed-income instruments provide a cushion to the investment portfolio. Investors should invest in fixed deposits (FDs) and other fixed-income instruments now and lock the rate before rate cuts take place,” says Pankaj Mathpal, managing director, Optima Money Managers. READ MORE

 

8:42 AM

Stock Market LIVE Updates: Derivatives trading drops 38% on BSE, NSE in December due to Sebi curbs

Stock Market LIVE Updates: Trading of derivatives on India’s leading stock exchange tumbled by more than one-third in the first full month after the regulator implemented curbs to stem a surge in retail participation.

 

Daily notional turnover sank 38% on average in December for futures and options on the National Stock Exchange of India Ltd. from November, compared with an increase in the final month of recent years. On BSE Ltd., it dropped 19% last month. READ MORE

 

8:41 AM

Stock Market LIVE Updates: Best Dec for IPOs since 1996; 15 firms collectively raised Rs 25,425 cr

Fifteen companies have launched their initial public offerings (IPOs) in December 2024, making it the best month for public offerings since 1996. Collectively, they have raised Rs 25,425 crore, which also made December the best month in terms of the quantum of funds raised. In December 1996, 33 companies had raised Rs 931 crore.

 

One Mobikwik Systems, which raised Rs 572 crore, Vishal Megamart (Rs 8,000 crore), International Gemological Institute (Rs 4,225 crore), and DAM Capital Advisors ( Rs 840 crore ) were some of the IPOs that hit the markets last month. Read more

8:37 AM

Stock Market LIVE Updates: Ketan Parekh among 3 banned from securities markets in front-running scheme

The Securities and Exchange Board of India (Sebi) on Thursday debarred Ketan Parekh, the stock market operator involved in the stock market scam of 2000, Singapore-based trader Rohit Salgaocar, and one other individual from the securities market for alleged front-running of trades of a United States (US)-based foreign portfolio investor (FPI).

 

The FPI manages around $2.5 trillion worth of funds globally. Read more

8:36 AM

Stock Market LIVE Updates: Indo Farm Equipment IPO allotment today; check status, GMP, listing date

Indo Farm Equipment IPO allotment status: The basis of allotment of Indo Farm Equipment IPO shares is likely to be finalised today, Friday, January 3, 2025. The public offering closed for subscription on Thursday, January 2, 2025, receiving enthusiastic participation from investors with it getting oversubscribed by 229.68 times. Read more

8:35 AM

Stock Market LIVE Updates: Asian shares rise, dollar at two-year high as US rates, Trump in focus

Asian stocks rose on Friday, aiming to shrug off a lacklustre start to 2025, while the dollar was perched at a two-year high against a basket of currencies as investors fret about US rates staying higher for longer.

 

MSCI's broadest index of Asia-Pacific shares outside Japan was 0.33 per cent higher but on course for a nearly 1 per cent drop for the week. The index rose nearly 8 per cent in 2024. Japan markets are closed for the week. Read more

8:25 AM

Stock Market LIVE Updates: Best Dec for IPOs since 1996: 15 firms collectively raised Rs 25,425 cr

Stock Market LIVE Updates: Fifteen companies have launched their initial public offerings (IPOs) in December 2024, making it the best month for public offerings since 1996. Collectively, they have raised Rs 25,425 crore, which also made December the best month in terms of the quantum of funds raised. In December 1996, 33 companies had raised Rs 931 crore.

 

One Mobikwik Systems, which raised Rs 572 crore, Vishal Megamart (Rs 8,000 crore), International Gemological Institute (Rs 4,225 crore), and DAM Capital Advisors ( Rs 840 crore ) were some of the IPOs that hit the markets last month. READ MORE

 

8:24 AM

Stock Market LIVE Updates: Axis MF's 2025 Outlook: Temper expectations as growth challenges remain

Stock Market LIVE Updates: Significant valuation expansion seems unlikely in 2025 amid near-term growth challenges, likely muted inflows from foreign institutional investors (FIIs), and subdued earnings expectations, Axis Mutual Fund (MF) said in its outlook, while asserting that it will be a year of stock picking across marketcaps.

 

The fund house said the consolidation phase may continue for select sectors, especially those that have outperformed recently like real estate, pharmaceuticals, information technology, automobiles, and capital goods. READ MORE

 

8:23 AM

Stock Market LIVE Updates: Bulls charge: Markets rally nearly 2% in best session in six weeks

Stock Market LIVE Updates: Indian equity benchmarks extended their gains to the second day of the new year, rising nearly 2 per cent on Thursday — the best single-day increase in six weeks — amid a surge in technology majors on the back of hopes of improved earnings in the third quarter.

 

Auto stocks that soared after robust December sales and gains in heavyweights, such as Reliance Industries and Bajaj Finance, along with buying by foreign portfolio investors (FPIs), also contributed to the rally. READ MORE