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Stock Market Crash Highlights: Sensex sheds 964pts, Nifty ends at 24,951; Banking, IT shares dip

Markets Today: Broader markets also mirrored the benchmarks, with Nifty Midcap100 and Nifty Smallcap100 indices ending lower by 0.28 per cent and 0.51 per cent, respectively

Image SI Reporter New Delhi
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Stock Market Highlights, Thursday, December 19, 2024: Benchmark equity indices BSE Sensex and NSE Nifty50 witnessed a sharp correction, settling down by over 1 per cent each, tracking the decline on Wall Street following US Fed Chairman Jerome Powell's hawkish commentary.
 
The 30-share Sensex tumbled 964.15 points, or 1.20 per cent, to end Thursday's trading session at 79,218.05. The index traded in the range of 79,516.17 to 79,020.08.
 
Similarly, the NSE Nifty50 ended down by 247.15 points, or 1.02 per cent, to settle at 23,951.70. Nifty50 traded in the range of 24,004.90 to 23,870.30.
 
The day ended in favour of bears, with 36 out of 50 constituent stocks of Nifty50 ending in the red. Bajaj Finance, Bajaj Finserv, Asian Paints, JSW Steel, and Grasim were the top laggards, ending lower by up to 2.33 per cent. On the other hand, Dr Reddy's, Cipla, BPCL, Sun Pharma, and Apollo Hospital were among the 14 constituent stocks that ended higher by up to 4.04 per cent.
 
Broader markets also mirrored the benchmarks, with Nifty Midcap100 and Nifty Smallcap100 indices ending lower by 0.28 per cent and 0.51 per cent, respectively.
 
The fear index, India VIX, which gauges volatility in markets, ended higher by 0.95 per cent at 14.51 points.  All sectoral indices ended in the red, barring Nifty Pharma and Healthcare, which ended in the green. Among others, all banking indices on NSE, along with IT, Financial Services, Consumer Durables, and Metal, ended down by 1 per cent each.
 
4:17 PM

Stock Market Updates: 'Nifty's next key support lies at around the 23,700 levels'

"The market extended its decline for another session, losing nearly 1 per cent, primarily driven by weak global cues. The Nifty opened with a downside gap, testing the support zone near the previous swing low of 23,850 in early trades. It then moved in a narrow range throughout the session before closing at 23,941 on the weekly expiry day. 
 
Profit-taking is evident in previously strong sectors like banking and IT, as other sectors remain significantly beaten down. The next key support lies at the 200-day exponential moving average (DEMA) around the 23,700 level. A break below this could lead to further downside for the index.  Despite the weakness, oversold conditions and resilience in select pockets present buying opportunities. Traders are advised to align their positions carefully, with an emphasis on prudent stock selection."
 
Views By: Ajit Mishra – SVP, Research, Religare Broking
3:59 PM

Stock Market Highlights LIVE Updates: Bajaj Finserv, JSW Steel fall on NSE

Bajaj Finserv, JSW Steel and Bajaj Finance were among the top losers on NSE.
3:56 PM

Stock Market Highlights LIVE Updates: Nifty Pharma, Healthcare outperform

Nifty Pharma, and Nifty Healthcare outperformed among sectors on Thursday.
3:41 PM

Stock Market LIVE Updates: Market declined after US Fed’s hawkish stance on interest rates

Stock Market LIVE Updates: The Indian market saw a widespread decline following a global sell-off driven by the US Fed’s hawkish stance on interest rates. Sectors sensitive to interest rates, such as banking and real estate, significantly bore the brunt.

However, the BoJ's decision to keep its interest rate steady, which surprised economists, aided in reducing the selling pressure. Despite this, investor caution persisted amid ongoing FII selling, with a strategic shift towards defensive sectors like pharma as evidenced by their outperformance.

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

3:40 PM

Stock Market LIVE Updates: Broader market indices follow headline index's suit and end in red

Stock Market LIVE Updates: Nifty Midcap 100 and Smallcap 100 slipped by 0.28 per cent or 0.51 per cent  respectively at close. 

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3:38 PM

Stock Market LIVE Updates: A glance at top gainers and loser on BSE at close

Stock Market LIVE Updates: Bajaj Finserv, Bajaj Finance,JSW Steel were among the biggest laggards on Sensex.

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3:36 PM

Stock Market LIVE Updates: Nifty tanks 247.15 points at 23,951.70 during close

Stock Market LIVE Updates: At close, NSE Nifty declined 247.15 points or 1.02 per cent at 23,951.70.

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3:35 PM

Stock Market LIVE Updates: Sensex closes 964.15 points lower at 79,218.05

Stock Market LIVE Updates: At close, BSE Sensex slipped 964.15 points or 1.20 per cent at 79,218.05.

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3:25 PM

Stock Market LIVE Updates: NTPC Green arm's 30 MW Gujarat Solar PV Project declared on commercial operation

Stock Market LIVE Updates: "We wish to inform you that on the basis of certificate dated 18.12.2024 issued by Gujarat Energy Development Agency, second part capacity of 30 MW out of 150 MW Gujarat Solar PV Project in Mesanka, Gujarat of NTPC Renewable Energy Limited (NTPC REL), a stepdown subsidiary of NTPC Limited through its subsidiary NTPC Green Energy Limited, is declared on Commercial Operation w.e.f. 11.12.2024," the filling read. 

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3:18 PM

Stock Market LIVE Updates: Rajnish Wellness' board withdraw right issue

Stock Market LIVE Updates: "With reference to the Outcome of the Board of Directors' Meeting dated July 28, 2023, where the Board had approved the proposal to raise Rs. 49.90 Crores through a Rights Issue of Equity Shares, we wish to inform you that after further internal discussions and deliberations, the Rights Issue Committee has decided to withdraw the original rights issue proposal," the filing read. 

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3:18 PM

Stock Market LIVE Updates: Senores Pharmaceuticals IPO zooms 38% ahead of launch; key details from RHP

Stock Market LIVE Updates: The unlisted shares of Senores Pharmaceuticals commanded a strong premium in the grey market ahead of the launch of their initial public offering (IPO) scheduled for Friday, December 20, 2024. Sources tracking unofficial markets revealed that Senores Pharmaceuticals unlisted shares were trading at Rs 541 apiece, reflecting a grey market premium (GMP) of Rs 150, or 38.36 per cent, against the upper end of the IPO price of Rs 391. READ MORE
3:15 PM

Stock Market LIVE Updates: Anupam Finserv's board approves rights issue of 11,56,37,500 shares

Stock Market LIVE Updates: The board of Anupam Finserv approved rights issue of 11,56,37,500 shares with face value of Rs 1 each, for an aggregate amount not exceeding Rs 20,23,65,625.

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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 Thursday, tracking the decline on Wall Street following the US Fed's hawkish commentary.

At 3 PM, the BSE Sensex was down 962.07 points, or 1.20 per cent at 79,220.13, and the Nifty 50 was at 23,94.80, down 250.05 points, or 1.03 per cent.
 
2:51 PM

Stock Market LIVE Updates: Zomato m-cap pips that of Tata Motors, Bajaj Auto; analysts stay bullish

Stock Market LIVE Updates: Food delivery and quick-commerce service app, Zomato now commands a market-capitalisation higher than automobile stalwarts Tata Motors and Bajaj Auto.
 
At 1:05 PM, Zomato stood with a market-cap (m-cap) of Rs 2.79 trillion with the shares trading 0.9 per cent lower at Rs 289.25 per share. By comparison, Tata Motors’ m-cap stood at Rs 2.75 trillion, while that of Bajaj Auto was Rs 2.49 trillion on the BSE. READ MORE
 
 
2:46 PM

Stock Market LIVE Updates: Prism Johnson's cement business division goes live with Ramco ERP suite

Stock Market LIVE Updates: Prism Johnson today informed that it has successfully gone live with the Ramco ERP Suite for its Cement Division. 

The company, in an exchange filing, said, this digital transformation leverages Ramco Systems' advanced enterprise solutions and process control systems to streamline business processes, manufacturing operations and drive efficiency.

The implementation includes cutting-edge modules for Maintenance, Sales, Distribution, Finance, Procurement, Manufacturing, Quality, and HR Management (HRM), it added. 
 

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First Published: Dec 19 2024 | 7:44 AM IST

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