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

Stock Market Highlights, Wednesday, December 18, 2024: Benchmark equity indices, BSE Sensex and NSE Nifty50, ended the Wednesday session in negative territory. The 30-share Sensex shed 502.25 points, or 0.62 per cent, to settle at 80,182.20. The index traded in the range of 80,868.02 to 80,050.07 today.

 

Similarly, the NSE Nifty50 ended down by 137.15 points, or 0.56 per cent, to settle at 24,198.85. Nifty 50 traded in the range of 24,394.45 to 24,149.85 today.

 

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. Dr Reddy's Labs, Trent, Cipla, Wipro, and Reliance Industries were among the 17 stocks that ended in the green with gains extending up to 2.48 per cent.

 

Broader markets also mirrored the benchmarks, with Nifty Midcap100 and Nifty Smallcap100 indices ending lower by 0.64 per cent and 0.87 per cent, respectively.  Sectoral indices ended broadly in the red, barring IT, Pharma, and Healthcare indices. Banking stocks were the laggers among sectors, as Bank Nifty, PSU Bank, and Private Bank indices ended lower by up to 1.92 per cent. Among others, the Nifty Financials index, Media, and Consumer Durables ended down by up to 2.24 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.