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

4:08 PM

Stock Market LIVE Updates: If Nifty holds 24,150, a pullback to 24,350 is feasible

Nifty began the day on a negative note, remained under pressure throughout the day, and settled on a negative note at 24,199 levels.

 

Technically, Nifty index has formed a red candle on a daily chart and has remained below the 100-Days exponential moving average (100-DEMA), indicating weakness. However, currently Nifty is placed near lower end of consolidation zone. If index manages to hold today's low of 24,150, a pullback to 24,350 is feasible; however, for a substantial upmove, the index must sustain above the 100-DEMA, which is placed near 24,360. As long as the index is below 24,360, traders should adopt cautious approach.

(View by: Hrishikesh Yedve, AVP Technical and Derivatives Research at Asit C. Mehta Investment Interrmediates Ltd)

4:03 PM

Stock Market Highlights LIVE Updates: Investors focus on Fed chair's commentary on inflation & growth outlook

Investors shunned stocks led by banking ahead of the outcome of the US rate decision with focus on the Fed chairman's commentary on inflation & growth outlook in the backdrop of worsening global economic situation.

Domestic rupee continuing its downward trajectory and hitting fresh lows also dampened the sentiment, as extended fall could further worsen trade deficit and hit inflation going ahead.

(View by: Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd.)

 

3:52 PM

Stock Market Highlights LIVE Updates: Market experiencing breakdown in early Santa Claus rally

The Indian market is experiencing a breakdown in the early Santa Claus rally, with the impact being more pronounced in India compared to developed markets due to the rapid appreciation of the dollar.

Market sentiment remains cautious ahead of the FOMC meeting and potential policy and tariff shifts from the incoming US administration. This caution is further influenced by India's premium valuation, which is significantly above the current earnings growth trajectory that has slowed over the last two quarters. Additionally, the widened November trade deficit has negatively affected domestic sentiment.

(View by: Vinod Nair, Head of Research, Geojit Financial Services.)

 

3:47 PM

Stock Market Highlights LIVE Updates: Trent, Dr Reddy's Labs, Cipla gain on NSE

Trent, Dr Reddy's Labs, and Cipla were among the top gainers on NSE.

3:45 PM

Stock Market Highlights LIVE Updates: Nifty PSU Bank, Metal, and Financials bleed

Among sectors, Nifty PSU Bank, Metal, and Financials fell the most on Wednesday.

3:42 PM

Stock Market Highlights LIVE Updates: Broader markets fall

The BSE SmallCap index fell 0.76 per cent, while the BSE MidCap index dipped 0.61 per cent.

3:40 PM

Stock Market Highlights LIVE Updates: Heatmap check

Tata Motors, Powergrid and NTPC were among the top losers on the BSE Sensex.

3:34 PM

Stock Market Highlights LIVE Updates: Nifty ends below 24,200

The NSE's Nifty50 ended at 24,198.85, down 137.15 points or 0.56 per cent.

3:33 PM

Stock Market Highlights LIVE Updates: Sensex closes 500 pts lower

The BSE Sensex closed at 80,182.20, down 502.25 points or 0.62 per cent.

3:28 PM

Stock Market LIVE Updates: Pawan Hans secures Rs 2,000 cr contract for ONGC offshore helicopter ops

Government-owned helicopter service provider Pawan Hans Ltd has secured a 10-year contract worth over Rs 2,000 crore to supply four Dhruv NG helicopters, manufactured by Hindustan Aeronautics Ltd (HAL), to the Oil and Natural Gas Corporation (ONGC), according to news agency PTI. Read more

 

3:13 PM

Stock Market LIVE Updates: PVR Inox dips 6%, hits over four-month low; stock down 12% in 2 weeks

Shares of India's largest multiplex chain PVR Inox dipped 6 per cent to Rs 1,405.10, hitting an over four-month low on the BSE in Wednesday's intraday trade on profit booking. In the past two weeks, the stock has declined 12 per cent after the release of Allu Arjun's Pushpa 2 on December 5. Prior to that, in 12 trading days, between November 18 and December 5, the stock had rallied 13 per cent.

 

Meanwhile, thus far in the calendar year 2024, PVR Inox share price has underperformed the market by falling 15 per cent as compared to 11 per cent rise in the BSE Sensex. Read more

3:01 PM

Stock Market LIVE Updates: 3 PM market update - Sensex, Nifty maintain lower levels

Stock Market LIVE Updates: Benchmark Indian equity indices BSE Sensex and Nifty 50 were trading lower on Wednesday, amid weak global cues.

At 3 PM, the BSE Sensex was 559.74 points, or 0.69 per cent lower, at 80,124.71, and the Nifty 50 was at 24,190.90, down 145.10 points, or 0.6 per cent.

 

2:54 PM

Stock Market LIVE Updates: ixigo launches feature to offer 3x refund on unconfirmed waitlisted train tickets

Stock Market LIVE Updates: ixigo, an online travel booking platform operated by Le Travenues Technology, today informed that it has launched a 'Travel Guarantee' feature that ensures that passengers with unconfirmed waitlisted tickets at the time of chart preparation will receive a 3x refund of their fare.

The company, in an exchange filing, said that this will provide passengers with greater flexibility to make last-minute bookings through alternative modes of transport, including flights and busses.

 

2:51 PM

Stock Market LIVE Updates: Bharti Hexacom rallies 11%; hits new high in weak market on healthy outlook

Stock Market LIVE Updates: Bharti Hexacom share pricehit a record high of Rs 1,606.20 as it surged 11 per cent on the BSE in Wednesday's intraday trade, in an otherwise weak market, on a healthy outlook. The stock of the telecom services provider surpassed its previous high of Rs 1,565.35, which it touched on September 27, 2024. 

 

At 12:56 PM, Bharti Hexacom shares were trading 8 per cent higher at Rs 1,568.60, as compared to a 0.69-per cent decline in the BSE Sensex. READ MORE

 

2:41 PM

Stock Market LIVE Updates: TVS Holdings' unit to buy 2 real estate development co's for Rs 576.33 crore

Stock Market LIVE Updates: TVS Holdings today informed that its wholly-owned subsidiary, TVS Emerald has entered into two Share Purchase Agreements with two unrelated real estate construction and development companies, called Radial (Phase II) IT Park Pvt Ltd, and Radial (Phase III) IT Park Pvt Ltd,  for the acquisition of 100 per cent of the equity shares and Compulsorily Convertible Debentures of the target companies. 

The company, in an exchange filing, said, the acqusitions of the two companies are for an amount of Rs 234.33 crore and Rs 342 crore, aggregating to a total of Rs 576.33 crore.

The company said it expects that the acquisition of the companies will enable TVS Emerald to gain access to new markets , increase market penetration and add new capabilities to its existing line of business, thereby maximising revenue opportunities, while adding that it expects the transaction to close by December, subject to completion of conditions precedent and closing actions.

 

2:33 PM

Stock Market LIVE Updates: Gulf Oil Lubricants rises 4% on exclusive pact with Piaggio Vehicles

Stock Market LIVE Updates: Shares of Gulf Oil Lubricants rallied up to 4.31 per cent at 794.70 per share on the NSE in Wednesday’s intraday deals. Gulf Oil Lubricants share price surged after the company said that it has renewed partnership agreement with Piaggio Vehicles,  a subsidiary of the Italian auto giant Piaggio Group for two-wheeler lubricants. 
 

“This exclusive collaboration, originally signed in January 2020, has now been extended until 2032, reaffirming both organizations' commitment to delivering high-quality, co-branded lubricants tailored to Piaggio's two-wheeler range, including their high performance sports bike and superbike segments,” the company said in a statement on Wednesday. READ MORE

 

 

2:22 PM

Stock Market LIVE Updates: Poonawalla Fincorp's board approves doubling co's borrowing limits to Rs 50,000 cr

Stock Market LIVE Updates: Poonawalla Fincorp today informed that its board of directors has approved the company's proposal to increase the company's borrowing limits to Rs 50,000 crore, from Rs 25,000 crore currently.

However, the company said in an exchange filing, that "the present approval is only restricted to increasing the limits without any actual issuance or borrowing pursuant to the same by the Company."

Apart from that, the board also approved the appointment of Rajeev Sardana as Non-Executive Independent Director of the company for a period of three years, while re-appointing Sanjay Kumar, as Independent Director for a second term of three years.

THe company added that the board has also approved the creation of charges on the movable and immovable properties of the company, in respect of borrowings.

 

2:13 PM

Stock Market LIVE Updates: 63 Moons extends rally on one-time settlement with NIF; zooms 66% in 1 mth

Stock Market LIVE Updates: Shares of 63 Moons Technologies hit a multi-year high of Rs 990.35, as they locked in upper circuit of 5 per cent on the BSE in Wednesday’s intra-day trade in an otherwise weak market.

 

The stock locked in upper circuit for the third straight day after the company’s board on Sunday, December 15, approved the one-time settlement (OTS) of Rs 1,950 crore as proposed by NSEL Investors Forum (NIF). READ MORE

 

 

2:06 PM

Stock Market LIVE Updates: KFin Tech joins BlackRock’s Aladdin to better integrate data with asset managers

Stock Market LIVE Updates: KFin Technologies today informed that it has joined BlackRock’s Aladdin Provider network to enhance its operating model with asset managers, making it more standardised and efficient. 

The company, in an exchange filing, said, "The collaboration will see KFintech join a growing community of the world’s largest asset servicers – enabling it to offer differentiated fund administration and accounting services to clients."

It added that by leveraging the Aladdin platform’s propriety data interfaces and workflows, KFintech will be able to better integrate the flow of data between KFintech and asset managers on the platform. This, in turn, will enable KFintech to digitise manual processes, align reference data and research fund activity in real-time, and conduct middle office operations on behalf of clients. 

 

2:02 PM

Stock Market LIVE Updates: 2 PM market update - Sensex, Nifty maintain lower levels

Stock Market LIVE Updates: Benchmark Indian equity indices BSE Sensex and Nifty 50 were trading lower on Wednesday, amid weak global cues.

At 2 PM, the BSE Sensex was 473.53 points, or 0.59 per cent lower, at 80,209.92, and the Nifty 50 was at 24,205.15, down 130.85 points, or 0.54 per cent.

 

1:57 PM

Stock Market LIVE Updates: ABB India exports 85% of India-made gas analyser systems to international clients

Stock Market LIVE Updates: ABB India today informed that it exported 85 per cent of all gas analyser solutions manufactured at its bengaluru facility to international customers, making it a success for the company.

The company, in an exchange filing, said, "Analytical systems were exported to countries such as Argentina and the United Arab Emirates, with the team currently working on projects for Canada and Australia." 

ABB provides analyzer system integration with fully customised analytical systems and solutions from the initial engineering stage through to fabrication, testing, field start-up, and on-site support. 

Its analytical systems portfolio includes direct-read continuous gas analyzers, online gas and liquid analysers utilising advanced laser analytical techniques, rapid response process gas chromatographs, and more.

 

1:47 PM

Stock Market LIVE Updates: This BSE smallcap realty stock rose 18% on collaborating with Indian Hotels

Stock Market LIVE Updates: Hampton Sky Realty, a BSE- listed smallcap company, shares zoomed 18.6 per cent in trade, logging an intraday high at Rs 33.1 per share on BSE. The stock gained after the company entered into a Hotel Management Agreement (HMA) and a Technical Services Agreement (TSA) with Indian Hotels Company (IHCL) and an Agreement to Lease (ATL) with Roots Corporation Limited (RCL), a subsidiary of IHCL. READ MORE

1:45 PM

Stock Market LIVE Updates: Aurionpro Solutions shares jump 8%; here's what's boosting rally in stock

Stock Market LIVE Updates: Aurionpro Solutions shares jumped 7.9 per cent in trade, logging an intraday high at Rs 1868.8 per share on BSE. The buying sparked after the company arm launched AryaXAI. READ MORE

1:41 PM

Stock Market LIVE Updates: Karnataka's iron ore duty plans weigh on NMDC; share price plunges 7%

Stock Market LIVE Updates: State-owned miner NMDC share price dropped up to 7.01 per cent to hit an intraday low of Rs 211.55 per share on Wednesday, December 18, 2024. READ MORE

1:39 PM

Stock Market LIVE Updates: J Kumar Infraprojects gains 3% after securing deal worth Rs 630 cr

Stock Market LIVE Updates: Shares of J Kumar Infraprojects rallied up to 2.60 per cent at 794.70 per share on the NSE in Wednesday’s intraday deals. J Kumar Infraprojects share price surged after the company said that it has secured a letter of award from state owned construction major NBCC. READ MORE

1:35 PM

Stock Market LIVE Updates: Inox Wind secures 60 MW equipment supply order from Serentica Renewables

Stock Market LIVE Updates: Inox Wind (IWL) said it has secured a 60 MW equipment supply order from Serentica Renewables. This order is for the supply of 3 MW class wind turbines. This order is to be delivered within H1 CY25 and it will be installed at the hybrid renewable energy project site being developed by Serentica Renewables in Karnataka, the company said in a statement. READ MORE

1:31 PM

Stock Market LIVE Updates: JSW Steel down 2% after challenging Commissioner of Customs' demand order

Stock Market LIVE Updates: JSW Steel shares slipped 2.3 per cent in Wednesday's trade, logging an intraday low at Rs 943.5 per share on BSE. The stock fell after the company said it would challenge the Commissioner of Customs' (Export) demand order which imposed a penalty of Rs 1,22,00,000 and a fine of Rs 50,00,000. READ MORE

1:21 PM

Stock Market LIVE Updates: Here's why CDSL share dropped in trade on December 18; details here

Stock Market LIVE Updates: Central Depository Services (India) Limited (CDSL) shares were in focus on Wednesday, December 18, 2024, as the scrip dropped up to 1.32 per cent in intraday deal on the National Stock Exchange (NSE).

 

CDSL's share price dropped following a tweet from Zerodha, which highlighted an issue at CDSL affecting all brokers. The tweet stated that users might face difficulties authorising stock sales and assured that Zerodha was working with CDSL to resolve the problem quickly. It also informed users that they could sell their holdings without needing CDSL authorisation in the meantime. READ MORE

 

 

1:15 PM

Stock Market LIVE Updates: JSW Steel gets demand order worth Rs 2.07 crore for recovery of excess duty claimed

Stock Market LIVE Updates: JSW Steel today informed that the Commissioner of Customs (Export) has issued a demand order for recovery of excess duty drawaback totalling Rs 12.84 lakh, recovery of excess Merchandise Exports from India Scheme (MEIS) benefit of Rs 22.36 lakh, along with interest.

The company, in an exchange filing, said, "This has reference to the aforementioned subject Order dated 06.12.2024 received by the Company on 16.12.2024, from the Office of The Commissioner of Customs (Export). The Commissioner of Customs (Export) has issued demand order for recovery of excess Duty drawback amounting to Rs. 12,84,976 and recovery of excess Merchandise Exports from India Scheme (MEIS) benefit of Rs.22,36,117 with interest thereon, as applicable under sections 75A(2) and 28AAA of the Customs Act, 1962, respectively."

The company added that under demand order, it (Office of The Commissioner of Customs (Export)) has also imposed a penalty amounting to Rs 1.22 crore and fine in lieu of confiscation of Rs 50 lakh under sections 114(iii), 114AA, 114AB and 125 of the Customs Act, 1962 citing excess duty drawback. 

The company further noted that based on judicial precedents, the demand order is not legally sustainable as no Show Cause Notice was issued for rejecting the FOB value declared by the company and the said order has been issued without proper appreciation of the submissions made by the company. 

It added that the said order will be challenged in its entirety before the next judicial forum.

 

1:11 PM

Stock Market LIVE Updates: Hamps Bio IPO allotment today: Check status, GMP, and listing schedule

Stock Market LIVE Updates: The basis of the allotment of shares for pharmaceutical products supplier Hamps Bio is likely to be finalised today, following the closure of the subscription window for its initial public offering (IPO). Hamps Bio, an SME offering that comprises a fresh issue of 12,20,000 equity shares at Rs 51 apiece, witnessed enthusiastic participation from investors, as it was oversubscribed by a whopping 1,003.33 times, according to BSE data.
 

Once the allotment of Hamps Bio IPO shares is finalised, investors who applied for the public offering can check the allotment status on the official websites of BSE and Bigshare Services, which is also the registrar of the issue. READ MORE