Equity indices, Sensex and Nifty 50 traded on a subdued note on Wednesday, reflecting cautious sentiment among investors. Despite opening on a flat note both indices managed to close with marginal gains by the end of the trading session.
The Sensex closed 16.09 points higher, marking a modest 0.02% increase to settle at 81,526.14. Similarly, the Nifty 50 index edged up 31.75 points or 0.13%, ending the day at 24,641.80. Among the top performers on the Nifty were Shriram Finance, Bajaj Finance, Britannia Industries, Bajaj Finserv. These stocks witnessed buying interest,On the other hand, the laggards included JSW Steel, State Bank of India (SBI), Adani Ports, Axis Bank, NTPC. While selective buying in financials and FMCG supported the indices, pressures from metal, banking, and power sectors limited broader gains.
Indian stock market traded in green, however, the performance was broadly flat in the opening bell of Wednesday, December 11. Nifty ranged between 24,641.20 to 24,597.60, while Sensex traded between 81,586.76 to 81,466.93. India's volatility index is marginally down as well. Midcap stocks are flat, while Nifty Smallcap Index is marginally up. Media PSU banks, and realty stocks are top performers.
In the early trade, Gift Nifty was at 24,677.50, down by 8 points, or 0.03%. Further, Euro Stoxx 50 futures dipped marginally, while S&P 500 futures and Nasdaq 100 futures performed muted.
The Indian stock market wrapped up a rangebound trading session on Tuesday, December 10, with the benchmark indices ending flat despite an early tug-of-war between gains and losses. The Sensex closed marginally higher by 2 points at 81,510, while the Nifty 50 slipped 9 points to end at 24,610. Meanwhile, the BSE Midcap index rose 137 points (0.30%) to 59,135, and the Nifty Bank index gained 170 points (0.32%) to close at 53,578, snapping its two-day losing streak.
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Dec 11, 2024, 3:19 pm IST
Vivek Oberoi to Join Nisus Dubai High Yield Growth Fund as Partner
Nisus Finance Services Co Ltd., (NiFCO) has recently launched the “Nisus High Yield Growth Fund Closed Ended IC”, a “DIFC Fund” as Category 3 C QIF Fund incorporated in the DIFC, Dubai advised by Nisus Finance Investment Consultancy FZCO, UAE (NiFCO Dubai). Renowned Bollywood actor, entrepreneur, and investor Vivek Anand Oberoi has announced inclination to participate in the DIFC Fund as a Partner*. In a recorded interaction, Mr. Oberoi has expressed his strong commitment to the growth of Nisus Finance and the DIFC Fund in the UAE and GCC. This strategic move reinforces the Fund’s commitment to driving growth and delivering exceptional returns to its investors in an increasingly dynamic global market.
Dec 11, 2024, 3:16 pm IST
Cyient Opens New State-of-the-Art Office in Sydney
Cyient, a global Intelligent Engineering services company, announces the launch of its new office in Sydney, Australia, located in Parramatta, New South Wales. This strategic expansion underscores Cyient’s commitment to the Australian market, strengthening its position and enhancing its capabilities to serve customers across the connectivity sector. Located in one of Australia’s most dynamic business districts, the new office will accommodate over 100+ associates. With modern infrastructure and advanced facilities, the Parramatta office will enable Cyient to deepen its partnerships with leading connectivity providers, creating a collaborative environment that encourages innovation and operational excellence.
Dec 11, 2024, 3:14 pm IST
Greaves Retail Unveils Advanced Electric Light Construction Equipment Range at bauma CONEXPO India 2024
Greaves Retail, a division of Greaves Cotton Limited and a leading provider of clean mobility and energy solutions in the e2W, ICE 2W, e3W, ICE 3W, and SCV segments, proudly announced the launch of its new range of high-performance electrified light construction equipment at bauma CONEXPO India 2024. With sustainability at the forefront, this new range of equipment integrates cutting-edge electrification technologies to deliver zero-emission solutions, enhancing performance while lowering operational costs. This strategic move into the Construction Equipment Sector underscores Company's commitment to delivering innovative, reliable solutions that prioritise environmental responsibility and sustainability.
Dec 11, 2024, 2:47 pm IST
One MobiKwik Systems IPO Day 1
The initial public offering (IPO) of One MobiKwik Systems Limited has hit the primary market, opening today, December 11, 2024, and running through December 13, 2024. The fintech company, known for its digital payment and financial services platform, aims to raise Rs 572 crore through an entirely fresh issue of shares, with the IPO price band set at Rs 265 to Rs 279 per equity share.
: Tata Power Renewable Energy Limited and Tivolt Electric Vehicles announces partnership
Tivolt Electric Vehicles Private Limited (Tivolt), an EV venture of Murugappa Group and a subsidiary of TI Clean Mobility has signed a Memorandum of Understanding (MOU) with Tata Power Renewable Energy Limited (TPREL), a leading player in the Indian renewable energy sector and a subsidiary of Tata Power. TPREL is a prominent EV Charging solutions provider, to enhance e-mobility for commercial vehicles across the country. This partnership aims to build a robust EV Charging ecosystem by leveraging Tata Power's expertise in diversified EV Charging solutions with Tivolt’s rapidly growing network of small electric commercial vehicles across the country. The MoU was signed by Mr. Saju Nair, CEO, Tivolt Electric Vehicles and Mr. Virendra Goyal, Head BD EV charging, TPREL, in the presence of Mr. Shivram Bikkina, Chief -Solar Rooftop & EV charging business, TPREL.
Dec 11, 2024, 1:28 pm IST
Steel Stocks See Gains of Up to 4% Following Positive Brokerage Outlook
Steel stocks gained attention on December 11, with shares rising up to 4% after global brokerage firm JPMorgan forecasted an acceleration in demand. While volume growth remained modest from October to November, JPMorgan expects a boost in demand with the end of elections and the monsoon season.
Dec 11, 2024, 1:28 pm IST
Railway Stocks Soar, IRFC, IRCON, and Tatagarh Surge Up to 9%
Railway stocks are seeing a strong upward movement on Wednesday, December 11, as several companies recover from the recent lows reached in November. Shares of Indian Railways Finance Corporation (IRFC) have gained nearly 5%, rising above Rs 160—a level it hasn’t surpassed since September 20.
Dec 11, 2024, 1:27 pm IST
Alembic Pharma Clears Brazilian Health Regulator Audit for API Facility
Alembic Pharma Ltd. announced on Wednesday, December 11, that it has successfully passed the Brazilian health regulator's audit for its API-II facility at Panelav, covering eight active pharmaceutical ingredients (APIs).
Dec 11, 2024, 12:47 pm IST
InoxGFL Group Ventures into Solar Manufacturing via Inox Solar
The INOXGFL Group has announced its entry into solar manufacturing through Inox Solar, a privately owned entity operated by its promoters.
Dec 11, 2024, 12:46 pm IST
Greaves Retail Unveils Electrified Construction Equipment at bauma CONEXPO India 2024
Greaves Retail, a subsidiary of Greaves Cotton, introduced its latest range of high-performance electrified light construction equipment at the prestigious bauma CONEXPO India 2024.
Dec 11, 2024, 12:46 pm IST
Paisalo Digital Shares Rise as Board Approves Fundraising via Commercial Papers
The Operations and Finance Committee of Paisalo Digital's Board of Directors, in a meeting held on Wednesday, December 11, 2024, approved a fundraising plan through the issuance of commercial papers (CPs) on a private placement basis. The company plans to issue CPs with a face value of Rs 5,00,000 each, in one or more tranches, amounting to a total of Rs 90 crore. Additionally, the committee approved the allotment of 600 listed commercial papers with a face value of Rs 5,00,000 each, aggregating Rs 30 crore.
Dec 11, 2024, 11:41 am IST
IPO Live Updates: Mobikwik IPO Fully Subscribed Within 1 Hour Of Opening
Mobikwik IPO: Early indications show a mixed subscription response. In less than 1 hour of opening day, the IPO had been fully subscribed, 1.41 times overall. The retail category outperformed with a subscription rate of 5.95 times. However, Qualified Institutional Buyers (QIBs) recorded no subscriptions, while Non-Institutional Investors (NIIs) achieved a subscription rate of 1.20 times. The initial public offering (IPO) of One MobiKwik Systems Limited has hit the primary market, opening today, December 11, 2024, and running through December 13, 2024.
Dec 11, 2024, 10:49 am IST
IPO Market Live Updates: Vishal Mega Mart IPO Opens
The Rs 8,000 crore IPO is now open for bidding for investors from December 11. The IPO will close on December 13. Ahead of the IPO, the company garnered up to Rs 2,400 from anchor investors on December 10. The latest GMP signals at double-digit premium listing on BSE and NSE for Vishal Mega Mart.
Dec 11, 2024, 10:09 am IST
Market Live Updates: Cryptocurrency market soars with nearly inflows
Shivam Thakral, CEO of BuyUcoin, India’s second-longest-running digital asset exchange: The cryptocurrency market has witnessed remarkable developments, highlighted by a record-breaking inflow of .85 billion into crypto investment products, bringing the total for the year to billion. This surge is primarily driven by institutional interest, particularly in Bitcoin and Ethereum, which saw inflows of .5 billion and .2 billion, respectively. Furthermore, following the regulators' approval of Ripple's stablecoin, XRP gained momentum and experienced a 10% surge. Expectations for additional investments and possible ETF launches suggest a positive future outlook as institutional adoption continues to grow.
Dec 11, 2024, 9:38 am IST
Market Live Updates: Gainers And Losers
Stocks like Ultratech Cement, Tata Consumer, Britannia, Grasim and Nestle are top gainers, who gained by 1% to 2.5%. Further, stocks like HCL Tech, ICICI Bank, Dr Reddy's Lab, Wipro were top laggards down by 0.5-1%. This is where Sensex, Nifty are currently:
Dec 11, 2024, 9:35 am IST
Forex Market Live Updates: Rupee Extends New Record Low
In the early hours of trade at forex market, Indian rupee touched 85.062 per dollar for the first time in its history, extending its fresh record low. Currently, the local currency has pulled back from its 85 mark, and traded at Rs 84.86 per dollar. In the previous session, rupee was at 84.885 per dollar. The performance comes as dollar remains steady on Wednesday, extending its winning streak for three consecutive days. Investors await for US inflation data that will be pivotal for upcoming Federal Reserves policy next week, where a 25 bps rate cut is expected by market.
Dec 11, 2024, 9:27 am IST
Market Live Updates: Bank Nifty Falls
Bank Nifty shed nearly 151 points or 0.3% to trade at 53,427. Heavyweight banking stocks like ICICI Bank, HDFC Bank and Axis Bank dragged the banking sector.
Dec 11, 2024, 9:27 am IST
Stock Market Live Updates: Sensex, Nifty Opening Bell:
Sensex traded at 81,526.87, up by 16.82 points or 0.21%, after opening at 81,568.39. Further, Nifty 50 performed at 24,622.05, after opening at 24,641.20. Both the benchmarks are in mild gains currently.
Dec 11, 2024, 9:15 am IST
Stock Market Live Updates: Are FIIs Have Turned Buyers?
Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services: Nifty is in a consolidation range and is likely to remain in this consolidation phase with a mild upward bias in the near-term. The biggest positive for the market is the return of the FIIs and the consequent strength in the largecaps, particularly in banking and IT. FIIs turning buyers have enthused the retail investors who have been on the defensive after the near 10% correction from the September peak. Now retail investors are back in action and are chasing many mid and smallcaps. Mid and Smallcap indices have again turned resilient supported by sustained fund flows in these segments. Valuations in these segments are hard to justify but the resilience of these segments might continue, given the strong fund flows into these segments."
Dec 11, 2024, 8:51 am IST
Market Live Updates: Nifty Technical Outlook
Anand James, Chief Market Strategist, Geojit Financial Services: The reluctance to float above 24650 early yesterday sparked a slippage as feared, but it lost momentum as soon as the first downside objective of 24530 was achieved. The turn higher thereof from the key support is encouraging, but we will still need a direct rise above 24740 to stay with the 25262-25600 trajectory. Else, expect a consolidation, or a slow decline to 24420/380.
Dec 11, 2024, 8:47 am IST
Market Live Updates: What Will Drive Market Today
Prashanth Tapse, Senior VP (Research), Mehta Equities: Over the last three trading sessions, Nifty has drifted lower, reflecting fading optimism as bulls face microeconomic challenges and a murkier macro outlook. Adani Group stocks also declined yesterday, with key names like Adani Enterprises, Adani Power, and Adani Green Energy slipping. Investor focus now turns to the November US CPI, the final inflation reading before the Federal Reserve's year-end policy meeting, which could challenge expectations of a rate cut. FIIs, however, remained net buyers, adding Rs 1,286 crore yesterday, contributing to a Rs 13,944 crore net inflow for December. Bullish consolidation remains the theme, with key trades favouring Nifty and Bank Nifty buys at current levels. Siemens, Voltas, and HCL Tech are our top bullish picks this week, while all eyes will also be on India's CPI release on December 12, and Vishal Mega Mart's Rs 8,000 crore IPO opening tomorrow.
Dec 11, 2024, 8:46 am IST
Market Live Updates: Stocks To Buy Today
Shiju Koothupalakkal - Technical Analyst at Prabhudas Lilladher has recommended buying three stocks on December 11. These are - BUY GODREJ INDS cmp 1102.90 Stop Loss 1075 Target 1160; BUY GUJ IND POWER cmp 225.55 Stop Loss 220 Target 240; and BUY HUDCO cmp 254.25 Stop Loss 248 Target 270
Dec 11, 2024, 8:36 am IST
Market Live Updates: Nifty 50, Bank Nifty Support And Resistance Estimates
Shiju Koothupalakkal - Technical Analyst at Prabhudas Lilladher expects Nifty 50 to find support and resistance at 24,500 and 24,800 during December 11 trading session. Meanwhile, Bank Nifty is seen to have a support and resistance of 53,200 and 54,000.
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