Stock Market Close Highlights: Sensex sheds 384pts, Nifty ends at 24,668; Realty shares outperform

Markets Today: Monday ended broadly in favour of the bears as 36 out of 50 constituent stocks of Nifty50 ended in the red, dragged down by Titan, TCS, Hindalco, Adani Ports, and BPCL

3:55 PM

Stock Market Highlights LIVE Updates: Dips in the support zone of 24,550 – 24,500 are a buying opportunity

Nifty opened on a flat note and thereafter traded with negative bias during the day to close in the red down 100 points. On the daily charts we can observe that after the sharp upmove in the previous session the nifty consolidated within a narrow range, we believe that this is a brief pause in the overall uptrend.

On the upside the short-term target is placed at 25125 while crucial support is placed at 24550 – 24500. Dips towards the support zone should be considered as a buying opportunity.

(View by: Jatin Gedia – Technical Research Analyst at Mirae Asset Sharekhan, for your reference.)

3:46 PM

Stock Market LIVE Updates: Realty stocks outperform on potential rate cut cycle in 2025

The national market traded in a range-bound manner while the realty sector outperformed in expectation of growing demand and a potential rate cut cycle in 2025. A rise in manufacturing and service PMI suggests a positive turnaround in H2FY25 earnings, which may limit further downgrades in FY25 earnings. Rising US 10-year bond yields and a strengthening dollar led investors to remain watchful of the upcoming US Fed policy and its commentary for 2025 rates.

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

3:44 PM

Stock Market Highlights LIVE Updates: Dr Reddy's Labs, IndusInd Bank, HDFC Life gain on NSE

Dr Reddy's Labs, IndusInd Bank, and HDFC Life were among the top gainers on NSE.

3:42 PM

Stock Market Highlights LIVE Updates: Broader indices outperform

The BSE SmallCap index surged 0.47 per cent, while the BSE MidCap index rose 0.73 per cent. 

3:40 PM

Stock Market Highlights LIVE Updates: Nifty Realty outruns others, gains 3%

Nifty Realty outran other sectors and gained over 3 per cent, followed by Nifty Media, PSU Bank and Healthcare among others.

3:36 PM

Stock Market Highlights LIVE Updates: 25 out of 30 stocks close with losses

Titan, Adani Ports, Ultratech Cement and TCS were among the top losers on the BSE Sensex.

3:34 PM

Stock Market Highlights LIVE Updates: Sensex closes over 350 points lower

The BSE Sensex closed 81,748 level, down 384 points or 0.47 per cent level. 

3:33 PM

Stock Market LIVE Updates: Nifty50 ends below 24,700

The NSE's Nifty50 closed below 24,668 level, down 100 points or 0.40 per cent.

3:15 PM

Stock Market LIVE Updates: Textile stocks shine; Donear, Siyaram, Mafatlal, Indo Count zoom up to 20%

Shares of textile and related companies were on a roll, zooming up to 20 per cent on the BSE in Monday’s intra-day trade backed by heavy volumes on hopes of improvement in business outlook. In comparison, the BSE Sensex was down 0.45 per cent at 81,767 at 02:01 pm.

 

Donear Industries and Siyaram Silk Mills surged 20 per cent, Mafatlal Industries rallied 14 per cent, while, Jindal Worldwide, Zodiac Clothing Company, Shiva Mills, Suryalata Spinning Mills and Surylakshmi Cotton Mills soared 10 per cent each. Indo Count Industries, Arvind, Himatsingka Seide and Vardhman Textiles were up in the range of 2 per cent to 6 per cent. 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 as markets continued on a cautious note on Monday,
amid mixed global cues.

At 3 PM, the BSE Sensex was 347.79 points, or 0.42 per cent lower at 81,785.33, while the Nifty 50 was at 24,675.75, down 92.55 points, or 0.37 per cent.

 

2:54 PM

Stock Market LIVE Updates: Upcoming IPO: Anand Rathi's brokerage arm files draft papers with Sebi

Stock Market LIVE Updates: Anand Rathi Group’s brokerage arm, Anand Rathi Share and Stock Brokers, is planning to go public as the company has filed its Draft Red Herring Prospectus (DRHP) with the capital markets regulator, the Securities and Exchange Board of India (Sebi), for its Initial Public Offering (IPO).

 

With the IPO, Anand Rathi Share and Stock Brokers is planning to raise up to Rs 745 crore, which comprises an entire fresh issue of shares with a face value of Rs 5 apiece. The offer includes reservations for subscriptions by eligible employees. READ MORE

 

 

 

2:45 PM

Stock Market LIVE Updates: US' case against Gautam Adani strong but extradition unlikely: Experts

Stock Market LIVE Updates: The US fraud case against Indian billionaire Gautam Adani appears to be backed by documents that will help prosecutors make a

strong case, legal experts said, but the tycoon is unlikely to be extradited to stand trial anytime soon.

Federal prosecutors in Brooklyn last month unsealed an indictment accusing Adani of bribing Indian officials to convince them to buy electricity produced by Adani Green Energy , a subsidiary of his Adani Group conglomerate, and then misleading US investors by providing reassuring information about the company's anti-corruption practices.
 

Adani, his nephew Sagar Adani, and another Adani Group executive were charged with securities fraud and conspiracy. READ MORE

 

2:42 PM

Stock Market LIVE Updates: Nykaa, Finolex, Exide see Death Cross on chart; stocks can fall up to 20%

Stock Market LIVE Updates: Five stocks among the Nifty 500 on Monday witnessed a 'Death Cross' pattern on the daily chart as the benchmark indices drifted lower amid persistent selling pressure. The BSE Sensex was down over 500 points at 81,600, while the Nifty 50 index slipped 130 points to 24,650 levels in intra-day deals on Monday.

 

Technically, the term 'Death Cross' is used when short-term moving average dips below the long-term moving average on the charts. Typically, the 50-DMA (Daily Moving Average) of the stock or index falls below the 200-DMA. In general, this also signals a likely change in trend from bullish to bearish. READ MORE

 

 

2:37 PM

Stock Market LIVE Updates: Biocon's arm gets approval recommendation from CHMP for psoriasis drug Yesintek

Stock Market LIVE Updates: Biocon Biologics Ltd (BBL), a subsidiary of Biocon Ltd, today informed its biosimilar product for J&J's Stelara, called Yesintek, used in the treatment of adults and children with plaque psoriasis and adults with psoriatic arthrities, or Crohn's disease, has received a positive recommendation from European Medicines Agency's Committee for Medicinal Products for Human Use (CHMP).

The company, in an exchange filing, said, "Biocon Biologics Ltd (BBL), a fully integrated global biosimilars company and subsidiary of Biocon Ltd, today announced that the European Medicines Agency’s Committee for Medicinal Products for Human Use (CHMP) has issued a positive opinion recommending approval of YESINTEK®, an Ustekinumab biosimilar intended for the treatment of adults and children with plaque psoriasis and adults with psoriatic arthritis or Crohn’s disease - based on the application filed by Biosimilar Collaborations Ireland Limited, an indirect wholly-owned subsidiary of BBL."

It added that the CHMP's positive recommendation follows the recent approval by the US FDA earlier this month.

 

2:29 PM

Stock Market LIVE Updates: NBCC (India) bags two work orders worth a total of Rs 489.60 crore

Stock Market LIVE Updates: NBCC (India) today informed that it has been awarded two work orders with a cumulative value of Rs 489.60 crore.

The company, in an exchange filing, said, it has received a work order for the "Construction of Eklavya Model residential Schools in Chhattaisgarh at different locations, i.e. Bastar, (Lohandiguda, Darbha, bastanar), Sukma, (Chhindgarh), Dantewada, (Gidam, Kaukonda), Narayanpur (Orchha), Rajnandgaon (Mohla), Jashpur (Jashpur, Manora)," from the Department of Tribal and Scheduled Caste, Chhattisgarh. 

The approximate value for the project is Rs 459.60, according to the company's exchange filing.

Separately, the company has also received another work order from Pt. Deen Dayal Upadhyaya National Institute for Persons with Physical Disabilities (PDUNIPPD), New Delhi , for the construction of Permanent Building of Composite Regional Centre (CRC) at Jamdoli, Agra Road, Jaipur, at a cost of Rs 30 crore.

 

2:23 PM

Stock Market LIVE Updates: RBL Bank extends MD & CEO R Subramaniakumar's tenure by 3 years; to seek RBI nod

Stock Market LIVE Updates: RBL Bank today informed that it has re-appointed, R. Subramaniakumar, currently serving as the Managing Director and CEO of the company from June 23, 2022 to June 22, 2025, for a further period of three years. 

The company, in an exchange filing, said, "We wish to inform you that pursuant to the recommendations of the Nomination and Remuneration Committee of the Board, the Board of Directors of the Bank at its meeting held today i.e. December 16, 2024 has inter-alia considered and approved the re-appointment of Mr. R Subramaniakumar as “Managing Director & CEO” of the Bank, for a period of three (3) years, with effect from June 23, 2025 up to June 22, 2028 (both days inclusive) subject to the approval of RBI and the shareholders of the Bank." 

The bank added that it shall make an application to RBI in this regard under Section 35B of the Banking Regulation Act, 1949.

 

2:22 PM

Stock Market LIVE Updates: Upcoming IPO: Anand Rathi's brokerage arm files draft papers with Sebi

Stock Market LIVE Updates: Anand Rathi Group’s brokerage arm, Anand Rathi Share and Stock Brokers, is planning to go public as the company has filed its Draft Red Herring Prospectus (DRHP) with the capital markets regulator, the Securities and Exchange Board of India (Sebi), for its Initial Public Offering (IPO).

 

With the IPO, Anand Rathi Share and Stock Brokers is planning to raise up to Rs 745 crore, which comprises an entire fresh issue of shares with a face value of Rs 5 apiece. The offer includes reservations for subscriptions by eligible employees. READ MORE

 

 

2:12 PM

Stock Market LIVE Updates: Vakrangee shares skyrocket 10% as board to consider fundraising on Dec 21

Stock Market LIVE Updates: Shares of technology company Vakrangee were in action on Monday, December 16, 2024, as the share price zoomed up to 9.97 per cent to hit an intraday high of Rs 30.54 per share.

The surge in Vakrangee share price came after the company announced that its Board of Directors will meet on Saturday, December 21, 2024, inter alia, to consider the proposal for raising of funds by way of rights issue, warrants, preferential issue including a qualified institutions placement or through any other permissible mode and/or combination thereof as may be considered appropriate. READ MORE

 

2:03 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 as markets continued on a cautious note on Monday, amid mixed global cues.

At 2 PM, the BSE Sensex was 393 points, or 0.48 per cent lower at 81,739.24, while the Nifty 50 was at 24,671.35, down 96 points, or 0.39 per cent.

1:52 PM

Stock Market LIVE Updates: Transrail Lighting's IPO to open on Dec 19; price band at Rs 410-432

Transrail Lighting Ltd on Monday fixed a price band of Rs 410-432 per share for its Rs 839-crore Initial Public Offering (IPO) that opens for subscription on December 19.

 

The initial share-sale is scheduled to close on December 23 and the bidding for anchor investors will open for a day on December 18, the company announced. Read more

1:41 PM

Stock Market LIVE Updates: Final Hours! IKS IPO closes today: Subscription zooms 4x, GMP up 30%

Stock Market LIVE Updates: Rekha Jhunjhunwala-backed initial public offering (IPO) of Inventurus Knowledge Solutions (IKS) which opened for public subscription on Thursday, December 12, 2024, is set to conclude today, Monday, December 16, 2024.

The public offering has so far received a decent response from investors, with the issue getting oversubscribed by 4.40 times, riding on the back of Non-Institutional Investors and Retail Individual Investors (RIIs) who oversubscribed their respective categories by 7.25 times and 6.49 times, respectively. READ MORE

 

 

1:33 PM

Stock Market LIVE Updates: JSW Energy shares rise 3% after securing multiple renewable energy projects

Stock Market LIVE Updates: Shares of JSW Energy gained 3 per cent at 699.30 per share on the BSE in Monday’s intraday deals. This came after the company announced that it has secured multiple renewable energy (RE) projects in the Commercial and Industrial (C&I) power market, achieving a total locked-in generation capacity of 20 GW. 

 

The company's locked-in RE C&I capacity stands at 3.1 GW, which includes 2,654 MW of JSW group captive capacity and 445 MW of third-party C&I capacity. Currently, the operational C&I capacity of the company stands at 488 MW, the company said in a statement on Monday. READ MORE

 

 

1:22 PM

Stock Market LIVE Updates: Gopal Snacks ramps up production, brings in 3rd party suppliers to augment capacity

Stock Market LIVE Updates: Gopal Snacks today informed that it has restored approximately 50 per cent of the capacity it had lost on account of a fire incident at its manufacturing facility located at Rajkot Gujarat, by ramping up production at its other facilities and engaging third-party manufacturers.

The company, in an exchange filing, said, "While operations at the affected facility remain temporarily halted, we have scaled up production at our other manufacturing facilities and have engaged third-party manufacturers to augment supply capabilities. These efforts have enabled us to restore approximately 50% of the supply levels as of December 16, 2024."

The company added, "We are working diligently to further scale up operations, leveraging all available resources to ensure that supply levels are re-instated to the maximum within the next 15 days."

 

1:19 PM

Stock Market LIVE Updates: Glenmark Pharma share price up 2% on rolling out Lacosamide oral solution

Stock Market LIVE Updates: Pharmaceutical major Glenmark Pharmaceuticals shares rose up to 2.27 per cent to hit an intraday high of Rs 1,551.75 per share on Monday, December 16, 2024.

 

The uptick in Glenmark Pharmaceuticals share price came after the company announced the launch of Lacosamide Oral Solution, 10 mg/mL. Lacosamide is a medication used to treat and prevent seizures, also known as convulsions, in individuals with epilepsy. READ MORE

 

 

1:08 PM

Stock Market LIVE Updates: Bharti Airtel slips after DoT imposes Rs 79,000 penalty; check details here

Stock Market LIVE Updates: Bharti Airtel shares slipped 1.2 per cent in Monday's trade and recorded an intraday low at Rs 1,661.55 per share on BSE. The stock declined after The Department of Telecommunications, Delhi (DoT) imposed a Rs 79,000 penalty on the telecom major. On NSE, 2.205 million shares changed hands while, on BSE 0.08 million shares were traded.

 

Around 11:32 AM, Bharti Airtel share price was down 1.04 per cent at Rs 1664.5 per share on BSE. In comparison, the BSE Sensex was down 0.52 per cent at 81,703.91. READ MORE

 

1:01 PM

Stock Market LIVE Updates: 1 PM market update - Sensex, Nifty trade lower

Stock Market LIVE Updates: Benchmark Indian equity indices BSE Sensex and Nifty 50 were trading lower as markets continued on a cautious note on Monday, amid mixed global cues.

At 1 PM, the BSE Sensex was 446.72 points, or 0.54 per cent lower at 81,686.40, while the Nifty 50 was at 24,645.95, down 122 points, or 0.49 per cent.

 

12:48 PM

Stock Market LIVE Updates: Purvankara, Oberoi rally up to 10%; BSE Realty index surges 17% in 1 month

Stock Market LIVE Updates: Shares of real estate companies have rallied by up to 10 per cent on the BSE in Monday’s intra-day trade amid heavy volumes in an otherwise weak market on expectations of the sector being poised for significant growth going forward.

 

Among the individual stocks, Puravankara shares were locked in an upper circuit of 10 per cent at Rs 442.60 on the BSE. Sunteck Realty rallied 5 per cent to Rs 521; Anant Raj Industries (Rs 788.15); Ashiana Housing (Rs 342.50); Mahindra Lifespace Developers (Rs 496.40); Prestige Estate Projects (Rs 1,828); Macrotech Developers (Rs 1,474.75); and Oberoi Realty (Rs 2,206.80) are up 4 per cent, while, DLF (Rs 892.50) and Godrej Properties (Rs 2,973.80) are up 2 per cent on the BSE. READ MORE

 

 

12:34 PM

Stock Market LIVE Updates: WPI inflation at 3 month low of 1.89% in Nov; food prices witness decline

Stock Market LIVE Updates: India’s wholesale price index (WPI)-based inflation fell to a three-month low of 1.89 per cent in November, down from 2.36 per cent in October, as prices of food items, especially vegetables and onions, declined sharply, according to government data released on Monday.

 

The WPI-based inflation had stood at 0.39 per cent in November last year. READ MORE

 

 

12:32 PM

Stock Market LIVE Updates: Sai Life Sciences IPO: Check allotment status, GMP, likely listing price

Stock Market LIVE Updates: The basis of allotment for Sai Life Sciences IPO shares is expected to be finalised today, Monday, December 16, 2024. The public offering, which closed for subscription on Friday, December 13, 2024, received decent participation from investors, with an oversubscription of 10.26 times.

 

Once the allotment is finalised, investors can check their status on the official websites of BSE, NSE, or Kfin Technologies, the registrar for the issue. READ MORE

 

 

12:22 PM

Stock Market LIVE Updates: Zomato, Bajaj Fin: 5 largecaps that can gain over 20% in 2025; time to buy?

Stock Market LIVE Updates: The NSE Nifty 50 index, thus far, has delivered up to 13.7 per cent gain in the year 2024, in spite of periods of sharp volatility. The National Stock Exchange (NSE) benchmark index registered a new summit at 26,277 - on September 27.

The year's low stood at 21,137 - hit on January 24.

Amid this, large-cap stocks too have delivered bountiful gains this calendar year. 4 out of every 5 large-cap stocks were seen holding gains for the year as of December 13; whereas, more than 2 out of 107 large-cap stocks on the NSE had surged more than 50 per cent in the same period. READ MORE