Stock Market Highlights: Sensex, Nifty snap 5-day winning run post RBI policy; Auto shares gain

Markets Highlights: Broader markets outperformed the benchmarks indices on Friday after the RBI left key rates unchanged and announced a 50 bps cut in CRR, while lowering its GDP forecast

Stock Market Highlights, Friday, December 6, 2024: The Benchmark equity indices gave up their 5-day winning streak to settle in red after the Governor Shaktikanta Das-led Monetary Policy Committee of the Reserve Bank of India (RBI MPC) kept its key interest rate unchanged at 6.5 per cent on Friday, but lowered the economic growth forecast to 6.6 per cent for FY25 from the earlier projection of 7.2 per cent. It cut the cash reserve ratio (CRR) that banks are required to hold, effectively easing monetary conditions as economic growth slows.

 

30- share Sensex settled lower by merely 56.74 points or 0.07 per cent at 81,709.12, trading in the range of 81,925.91 - 81,506.19, on Friday. 

 

The NSE Nifty50 ended at 24,677.80, up 30.60 points or 0.12 per cent. Nifty50 hit a day's high of 24,751.05 during intra-day trade, while the day's low was seen at 24,620.50.

 

32 out of 50 constituent stocks ended in the red, dragged by Adani Ports, Cipla, Bharti Airtel, HDFC Life, and IndusInd Bank with losses extending up to 1.51 per cent. On the other hand, Tata Motors, Bajaj Auto, Axis Bank, BPCL, and Dr Reddy's Labs were among the 18 constituent stocks of the Nifty50 that ended in the green, with gains extending up to 3.21 per cent.

 

Broader markets outperformed the benchmarks, with the Nifty Midcap100 and Nifty Smallcap100 indices ending higher by 0.45 per cent and 0.82 per cent, respectively. 

Among the sectoral indices, Auto, FMCG, Metal, PSU Bank, Consumer Durables, OMC, Sector Healthcare, and Financials ended in the green, while the remaining others settled lower. 

 

Notably, Auto stocks eked out gains fueled by the news that Hyundai, and Maruti will announce a price hike from January 1, 2025, onwards.

 

 

3:52 PM

Expert Comments:: Overall market exhibited a mixed outlook

"Though benchmark indices concluded on a flattish trend, Indian broader indices displayed optimism as the RBI acknowledged the downward growth trend while last-mile inflation persisted. By lowering the CRR and injecting ₹1.16 lakh crore into the financial system, the RBI aims to stimulate economic growth amid increased liquidity. The overall market exhibited a mixed outlook, reflecting a cautious yet resilient stance, with sector rotation and specific stock movements shaping market sentiment."

 - Views expressed by Vinod Nair, Head of Research, Geojit Financial Services

3:51 PM

Stock Market Highlights: Market breadth was fairly positive; 233 stocks hit new 52-week high on BSE

 

3:49 PM

Stock Market Highlights: PB Fintech, Delhivery, Jubilant Foodworks among major MidCap winners

 

3:47 PM

Stock Market Highlights: Sectorally Auto and Metal indices gained around 1%

 

3:44 PM

Stock Market Highlights: Broader indices outperform; India VIX dips 3%

 

3:42 PM

Stock Market Highlights: Auto shares top movers among Sensex 30; Adani Ports, Airtel slip

3:36 PM

Stock Market Highlights: Nifty 50 index declined 31 pts to 24,678

 

3:34 PM

Stock Market Highlights: BSE Sensex snaps 5-day winning run, ends 57 pts lower at 81,709

 

3:25 PM

Dividend, Bonus, Stock-split: These 5 stocks to turn ex-date next week

Shares of Ceenik Exports (India), Achyut Healthcare, Shradha AI Technologies, Quasar India, and Exxaro Tiles will remain in the spotlight next week following their corporate announcements such as dividends, bonus issues, or subdivisions. Notably, all these stocks will trade ex-date next week, as per BSE data. READ MORE

3:18 PM

Paytm to sell Japan's PayPay stake to SoftBank for $250 mn to boost capital

The sale is part of Paytm’s broader strategy to offload non-core assets and strengthen its capital base, enabling a sharper focus on its core payments business after a challenging year. Earlier in 2024, the company sold its entertainment ticketing business, Paytm Insider, to Zomato for Rs 2,048 crore. READ MORE

3:12 PM

Expert Opinion on RBI Policy: Rate cut expected in February 2025

Reserve Bank of India (RBI) has maintained status quo on interest rate but has announcement measure to provide liquidity support through two cuts of 25 bps each in CRR to free up Rs 50,000 crore in the banking system ahead of the busy season. The central bank seems to be confident on improvement in the demand trend and industrial growth on the back of increase in government capex and a better rural demand. However, given the inflationary concerns, the goal post for next rate cut seem to have shifted to Feb 2025 now. We remain constructive on equity markets and prefer large caps over small caps and have positive view on IT, real estate, banks, consumer, Pharma and engineering/capital goods sector.

 - Views expressed by Gaurav Dua, SVP and Head – Capital Market Strategy, Mirae Asset Sharekhan

3:07 PM

Vedanta soars 7% amid heavy volumes on healthy outlook

Shares of Vedanta moved higher by 7 per cent to Rs 505.45 on the BSE in Friday’s intra-day trade amid heavy volumes in an otherwise subdued market on a healthy outlook. Vedanta Resources (VRL) holds 56.3 per cent stake in Vedanta and has diversified operations across the metals, mining, power, and oil and gas segments. 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 on a muted note on Friday, after RBI Governor Shaktikanta Das announced to maintain status quo on key repo rates today.

At 3 PM, the BSE Sensex was at 81,667, lower by 98.57 points, or 0.12 per cent, while the Nifty 50 was at 24,677, behind by 30.90 points, or 0.13 per cent.

 

2:56 PM

Stock Market LIVE Updates: 'Rate cut expectation shifts to February; Nov/Dec data are key now'

Stock Market LIVE Updates: "As expected, three things happened: no change in repo rate, CRR cut (by 50 bps) to 4.0 per cent, GDP growth forecast for FY25 is revised downwards to 6.6 per cent (vs 7.2 per cent).

CRR cut helps in boosting liquidity. With this liquidity, banks don't have to chase deposits at higher rates; some comfort here. This should help in NIM improvement albeit modestly as the rate cut is looming in near future. Rate cut expectation shifts to February; Nov/Dec data are key now."

Views by: Manish Jain, Director - Institutional Business (Equity & FI) division at Mirae Asset Capital

 

2:53 PM

Stock Market LIVE Updates: IPO market heats up: Vishal Mega Mart, Mobikwik; 6 more to open next week

Stock Market LIVE Updates: Indian primary markets are gearing up for a dynamic week ahead, with three mainline initial public offerings (IPOs), including Vishal Mega Mart and Mobikwik, set to open for public subscription alongside five SME IPOs. 

 

This surge in activity underscores a bustling year for the primary markets, as 138 companies have gone public so far, according to BSE data. Of these, 76 companies have launched on the mainboard, presenting ample investment opportunities. READ MORE