Stock market indices Sensex and Nifty 50 remained in the red during Friday's late afternoon session.
By 2 PM, the BSE Sensex had declined 853 points (1.08%) to 78,365, while the Nifty 50 dropped 246 points (1.03%) to 23,704. All sectoral indices were trading lower, with notable declines in the realty and IT sectors.
Indian stock market traded lower in the opening bell of Friday, December 20th, with Sensex struggling to hold 79,000 mark. Nifty 50 faced pressure around 23,900 mark. In the early trade, both the benchmarks have touched an intraday low of 79,003.97 and 23,887.90 respectively.
Bank nifty plunged by 270 points. Sharp selling was recorded in banking, financials, FMCG, and media stocks. TCS, NTPC, Adani Enterprises, Hero MotoCorp and Infosys were top gainers. While stocks like Axis Bank, ITC, L&T, JSW Steel and Cipla were top losers.
On December 20th, three new IPOs will be opened namely - Ventive Hospitality, Senores Pharmaceuticals , and Carraro India. Meanwhile, second day of bidding in IPOs like DAM Capital Advisors, Sanathan Textiles, Concord Enviro Systems, Mamata Machinery, and Transrail Lighting will continue on Friday.
In the early trade, Gift Nifty tumbled by 90 points while Asian stocks fluctuate as Wall Street continues to be under pressure which intensified after Fed's hawkish remarks for 2025. Dollar held 108 level, while US treasury yield surged.
In the previous session, the Sensex tumbled by 964 points, settling at 79,218, while the Nifty declined 247 points to finish at 23,952.
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Dec 20, 2024, 2:02 pm IST
Alembic Pharmaceuticals Limited announces USFDA Final Approval for Divalproex Sodium Delayed-Release Capsules USP, 125 mg
Alembic Pharmaceuticals Limited (Alembic) announced that it has received Final Approval from the US Food & Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) Divalproex Sodium Delayed-Release Capsules USP, 125 mg. The approved ANDA is therapeutically equivalent to the reference listed drug product (RLD), Depakote Sprinkle Capsules, 125 mg, of AbbVie Inc. Divalproex Sodium is an anti-epileptic drug indicated for monotherapy and adjunctive therapy of complex partial seizures and simple and complex absence seizures; adjunctive therapy in patients with multiple seizure types that include absence seizures. Refer label for a detailed indication
Dec 20, 2024, 2:02 pm IST
SpiceJet Collaborates With StandardAero Inc. For Return to Service of its 737-8 MAX Aircraft
SpiceJet has entered into a services agreement with StandardAero Inc., a leading U.S.-based engine MRO (maintenance, repair and overhaul) provider and a ‘Premier MRO’ provider for CFM LEAP-1B engines. This collaboration will enable the restoration of SpiceJet's grounded Boeing 737-8 MAX fleet. The agreement follows successful arrangements with CFM International, Inc., the OEM for LEAP-1B engines, and the lessor for the 737 MAX aircraft. These developments pave the way for the un-grounding and return to service of three Boeing 737 MAX aircraft by April 2025. This initiative is a key part of SpiceJet's strategic efforts to restore its fleet, enhance operational capabilities, and support its rapid expansion plans.
Dec 20, 2024, 1:34 pm IST
Airtel and Zee5 partner to bring exciting Zee5 content to Airtel WiFi customers
Bharti Airtel (“Airtel”), one of India’s leading telecommunications service providers, today announced that it has entered into a partnership with Zee5, India’s leading OTT platform to offer exciting digital content to its WiFi customers. All customers on plans starting at Rs. 699 or higher will have Zee5 included as part of their Airtel WiFi plan at no additional cost. Following this partnership, Zee5’s exclusive content, that includes original shows, chartbuster titles, OTT movies and series across multiple languages will now be available on Airtel WiFi for viewers, giving them access to an exhaustive catalogue of digital content. From popular titles like Sam Bahadur, RRR, Sirf Ek Bandaa Kaafi Hai, Manorathangal, Vikkatakavi, The Chronicles of Amaragiri, AindhamVedham, Gyaarah Gyaarah amongst many others, Airtel WiFi customers can now enjoy a vast repository of 1.5 lakh+ hours of content.
Dec 20, 2024, 12:08 pm IST
Schaeffler India appoints Mr. Sharad Bhatia as Head of Vehicle Lifetime Solutions Business Division in India
Schaeffler India has announced the appointment of Mr. Sharad Bhatia as Head of Vehicle Lifetime Solutions (VLS), effective 2 December 2024. In his new role, Mr. Bhatia will spearhead Schaeffler India’s efforts to strengthen its presence in the mobility ecosystem, reinforcing the company's commitment to providing sustainable, advanced solutions in motion technology. Mr. Bhatia brings over 24 years of extensive experience in the automotive parts industry. He has a proven track record in establishing robust business platforms and launching innovative product lines tailored to meet evolving customer needs. His expertise in the aftermarket service parts sector is a valuable asset for Schaeffler India, particularly as the company expands its VLS business segment aimed at enhancing vehicle longevity and sustainability through advanced technological solutions.
Dec 20, 2024, 11:42 am IST
Nucleus Software Strengthens its Senior Leadership in South East Asia (SEA)
Nucleus Software, India’s leading provider of robust digital lending and transaction banking solutions to the global financial services industry, today announced the appointment of Mukul Agrawal as Regional Sales Head for South East Asia (SEA). With over three decades of extensive sales experience across the SEA region, Mukul brings deep expertise in fintech solutions, including core banking and lending. Mukul’s expertise spans driving business growth, crafting innovative solutions for financial institutions, and implementing strategies that enhance operational efficiency and customer experience. As SEA accelerates its digital transformation in financial services, Nucleus Software, with more than 30 years of expertise in banking technology, continues to empower banks and financial institutions with innovative solutions that drive seamless, customer-centric banking experiences to meet the evolving needs of this dynamic market.
Dec 20, 2024, 11:42 am IST
Maruti Suzuki teases its first eBorn Electric SUV
Maruti Suzuki India Limited (MSIL), the country's largest passenger vehicle manufacturer, is poised to transform electric mobility in India. The company will showcase its production ready eBorn SUV, the e VITARA at the Bharat Mobility Global Expo 2025. The e VITARA is a global model manufactured in India for the world, recently unveiled by Suzuki Motor Corporation at Milan, Italy. Speaking on the announcement, Partho Banerjee, Senior Executive Officer, Marketing & Sales, Maruti Suzuki India Limited, said, “The e VITARA is a testament of our unwavering commitment to sustainable mobility and technological innovation. With decades of automotive expertise, we have combined advanced electric technology with a customer-first approach to deliver something truly transformative. At Maruti Suzuki, we have always believed that to promote EV adoption, we need to create a holistic ecosystem that simplifies customers' battery electric vehicle ownership journey.”
Dec 20, 2024, 10:40 am IST
Nucleus Software Strengthens its Senior Leadership in Australia
Nucleus Software, the BSE & NSE-listed leader in digital lending and transaction banking solutions for the global ϐinancial services industry, is pleased to announce the appointment of Bharadwaj Rao as Regional Sales Head – ANZ, effective November 25, 2024. Bharadwaj brings over two decades of extensive experience in sales, with a strong focus on the ϐinancial services industry. His career is distinguished by a proven ability to streamline processes, drive organizational change, and align sales objectives with broader business goals. With a track record of driving growth and delivering exceptional customer service in the technology sector, Bharadwaj Rao brings unparalleled knowledge and expertise to his new role.
Dec 20, 2024, 10:36 am IST
Tata Power Renewable Energy Limited Partners with Canara Bank
Tata Power Renewable Energy Limited (TPREL), a subsidiary of The Tata Power Company Limited and a leader in India’s renewable energy sector, has joined hands with Canara Bank, one of the country’s premier public sector banks, to promote the adoption of rooftop solar systems under the PM Surya Ghar Scheme. This collaboration aims to simplify access to solar energy solutions for households by providing attractive financing options, empowering citizens to transition to a more sustainable energy future. As part of the initiative, households can benefit from tailored financing options under the PM Surya Ghar Scheme, designed to make rooftop solar installations more accessible and affordable.
Dec 20, 2024, 9:37 am IST
Stock Market Live Updates: Sensex, Nifty Extend Losses
Indian stocks extended their losing streak on Friday with Sensex struggling to hold 79,000 mark and Nifty at 29,900 level. The market trend was mixed with selloffs seen in banking, financials, FMCG and media stocks. The performance comes amidst weak global cues after Fed's hawkish remarks for 2025, stronger dollar and treasury yields. India's volatility index surged over 2% in early trade. Check Out Latest Prices Of Sensex, Nifty
Dec 20, 2024, 9:35 am IST
Market Live Updates: Gainers And Losers
TCS, NTPC, Adani Enterprises, Hero MotoCorp and Infosys were top gainers. While stocks like Axis Bank, ITC, L&T, JSW Steel and Cipla were top losers.
Dec 20, 2024, 9:32 am IST
Stock Market Live Updates: What Is Driving Market Today
Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services: The FII buying witnessed in early December is getting reversed now with this week’s selling reaching Rs 12229 crores. This change in FII strategy is getting reflected in market trends,too, with largecaps, particularly financials, coming under pressure due to FII selling. This trend is unlikely to sustain and, therefore, retail investors can adopt a strategy opposite to the FII strategy. Quality largecaps will soon bounce back. Pharmaceuticals have been resilient despite market weakness. This trend can sustain.
Dec 20, 2024, 9:31 am IST
Market Live Updates: Trending Stocks
Prashanth Tapse, Senior VP (Research), Mehta Equities: Accenture shares gained on higher guidance and strong quarterly results, driven by demand for AI-powered tools, with new bookings rising to .7 billion. Infosys ADR followed suit, gaining 3.4%. IOL Chemicals surged 8.65% ahead of a board meeting on a stock split, while SpiceJet jumped nearly 9% after settling a million dispute. Meanwhile, the US economy expanded by 3.1% in Q3 2024, its highest growth rate this year. Despite this, FIIs sold Rs 12,230.30 crore in the last four sessions, with markets reacting to Jerome Powell’s hawkish 2025 outlook and India's slowing growth. Stocks to buy now: TRENT (CMP Rs 7,094) with targets of Rs 7,551/Rs 7,809 and Coromandel International on sharp declines.
Dec 20, 2024, 9:18 am IST
Forex Market Live Updates: Rupee Above 85, Near Record Low
Indian rupee continues to hold at its record low in the early trade of interbank forex market. The local currency stood at 85.07 against US dollar, which is almost near its all-time low of 85.0850. Rupee came under heavy pressure after US dollar skyrocketed to its highest level since November 2022. Currently, DXY holds above 108 against a basket of currencies. The woes of Asian currencies escalated after robust US data that Fed is likely to cut rates at a slower pace in 2025. The latest US GDP grew faster than expected 3.1%, while jobless claim data dipped more than market estimates.
Dec 20, 2024, 8:34 am IST
Market Live Updates: F&O Ban List
On Friday, some seven stocks are under F&O ban. These are Bandhan Bank, Chambal Fertilizers & Chemicals, Granules India, Hindustan Copper, Manappuram Finance, National Aluminium Company, NMDC, PVR Inox, RBL Bank and Steel Authority of India (SAIL).
Dec 20, 2024, 8:33 am IST
Market Live Update: Stocks To Watch Out
Exide, GE Vernova, JK Cement, HCC, KPI Green Energy and Amara Raja Energy among others are some of the stocks to watch out on December 20.
Dec 20, 2024, 8:31 am IST
Stock Market Live Updates: Key Support For Nifty
Ajit Mishra – SVP, Research, Religare Broking: 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."
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