Indian stock market traded higher in the opening bell of December 12, 2024. Sensex surged by 131 points to trade at 81,657.24. While Nifty was up by more than 25 points to trade at 24,667.05. Both the benchmarks have touched an intraday high of 81,680.97 and 24,675.25. respectively. Bank Nifty is up by 115 points. However, India's volatility index dipped by over 2%. The gains were broadly led by IT, Private banks and mid-small healthcare stocks.
Stocks like Tech Mahindra, Bharti Airtel, Indus Tower, TCS, Wipro are top gainers with upside of 1% to 2%. However, Apollo Hospital, Titan, SBI Life, Tata Motors and BPCL emerged as top losers with down of 1% 1.5%.
In the early trade, Gift Nifty traded with mild gains of 3 points. Meanwhile, Asian shares were broadly higher on Thursday, with Japan's Nikkei 225 up 1.4% and Topix higher by 1.09%. South Korean, Hong Kong and Chinese shares were up too. However, Australia's S&P/ASX 200 dropped marginally.
Overnight, US market surged with Dow Jones up 0.22%, S&P 500 higher by 0.82%, and Nasdaq Composite outperforming its peers by gaining about 1.77% after market hours.
On December 12, inflation and IIP data of India will be keenly watched. While market will also react to US inflation data which rose to highest level in seven months, to a staggering 2.7% YoY in November 2024.
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Dec 12, 2024, 1:53 pm IST
Ami Organics Boosts Capital Expenditure to Rs 177 Crore for Jhagadia Project
The Board has approved an increased capital expenditure of up to Rs 177 crore for the company’s brownfield project focused on electrolyte additive products at its Jhagadia facility.
The Board has sanctioned the issuance of non-convertible debentures (NCDs) totaling Rs 2,000 crore through private placement, to be executed in one or more tranches.
Dec 12, 2024, 12:49 pm IST
Acme Solar Wins 250 MW Renewable Energy Project with Expansion Potential
Acme Solar Holdings has secured a 250 MW Firm & Dispatchable Renewable Energy (FDRE) project in an e-reverse auction conducted by NHPC at a tariff of Rs 4.56 per unit. The project includes a green-shoe option, potentially increasing the capacity to 500 MW. This addition brings Acme Solar’s total capacity to 6,970 MW.
Dec 12, 2024, 12:25 pm IST
Reliance Power Subsidiary Secures 930 MW Solar Energy Contract from SECI
Reliance NU Suntech has won a 930 MW solar energy project with a battery energy storage system (BESS) from the Solar Energy Corporation of India (SECI) in an e-reverse auction at a tariff of Rs 3.53 per kWh. The project includes installing a minimum storage capacity of 465 MW/1,860 MWh, powered by solar energy.
Dec 12, 2024, 12:17 pm IST
Adani Green Energy's Subsidiary Powers Up 250 MW Solar Project in Rajasthan
The commissioning of this solar plant has boosted the company’s total operational renewable energy capacity to an impressive 11,434 MW.
Dec 12, 2024, 12:00 pm IST
BEML Shares In Focus
On Wednesday, BEML Ltd. said that it has won a contract worth Rs 136 crore to deliver 8x8 high mobility vehicles that have been developed in the country. According to the PSU under the Ministry of Defence, these vehicles would be essential to the Battlefield Surveillance System project.
Dec 12, 2024, 11:35 am IST
Nifty 50 Outlook Today By Akshay Chinchalkar, Head of Research At Axis Securities
Indecision on the Nifty continues to prevail as resistance at 24700 has held strong. The market has formed a short-term "pennant" with the highs falling and the lows rising, which means the potential for an upside breakout that targets the 24800 - 25000 hurdle zone remains high. Support at 24500 should hold for this view to pan out.
Dec 12, 2024, 11:01 am IST
Nifty Prediction Today By Rajesh Bhosale Technical Analyst- Angel One
On the daily chart, there was little change as prices continued to consolidate for the fourth consecutive session within last Thursday’s range. On the hourly intraday charts, prices appear tightly coiled, awaiting a breakout to drive momentum. For the weekly expiry, 24500 serves as immediate support, and a breach of this level could trigger a cascading decline. On the upside, the 24750–24800 zone poses significant resistance, with a breakout beyond this range potentially pushing prices toward 25000 or higher. Typically, low-volatility phases are followed by heightened activity, and similar to last Thursday, a decisive move beyond the specified levels could fuel directional momentum. Traders are advised to closely monitor these levels and adjust their strategies accordingly. Meanwhile, the Small Cap 100 Index hit a fresh high, indicating stronger activity outside the major indices. However, many of the low-hanging fruits have already been picked, so traders should remain cautious and focus on selective opportunities for better potential.
Dec 12, 2024, 10:30 am IST
Market Outlook Today By Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services
The range-bound consolidation construct of the market is set to continue. The bull run in the US is continuing unabated with Nasdaq setting a new record and closing above 20000 yesterday. The Magnificent Seven stocks continue their resilience and uptrend despite elevated valuations. The strength of the mother market, which indicates that the global market rally is intact, is a support for other markets, too. Even though the US CPI inflation in November at 2.7% has come a bit above the October numbers, this was on expected lines and, therefore, the expectation of a 25bp rate cut by the Fed is intact. In India the November CPI numbers to be released today will be keenly watched. Market action today will be largely stock-specific with limited moves at the index level.
Dec 12, 2024, 10:00 am IST
Stock Market Live Updates: Vedanta Stock Up Ahead Of Dividend
Metal giant, Vedanta Ltd which is the highest dividend yield stock in its sector and large-cap basket, is finally coming up with its fourth interim dividend. The upcoming dividend reward will be announced in a board meeting scheduled on December 16, 2024. Following this, Vedanta stock shot up to hit a new 52-week high on Wednesday. As of now, a total of 7 brokerages have recommended BUY on Vedanta with the highest target price set at Rs 663. At the time of writing, Vedanta stock traded marginally up by 0.5% to Rs 516.50 apiece on BSE. The market cap stood at Rs 2,02,108.41 crore. The stock pulled back a little from its fresh 52-week high of Rs 525.15 apiece which was recorded on December 11.
Dec 12, 2024, 9:45 am IST
Market Live Updates: Sensex, Nifty Trade Higher
Sensex and Nifty witnessed a buying trend in the early trade of December 12, as sharp buying was recorded in IT stocks. Private bank and mid-small healthcare further lifted the performance. The market will await CPI inflation and IIP data of India which is scheduled later in the day. Here is the latest performance of Sensex, Nifty:
Dec 12, 2024, 9:23 am IST
Rupee Vs Dollar
Indian rupee traded at 84.84 level against US dollar at the interbank forex market currently. However, a steep decline of Chinese currency yuan, offered sharp surge in US dollar from importers and foreign banks, and this is expected to drag basket of currencies against USD. In the early trade of December 12, rupee touched its fresh record low of 85.049.
Dec 12, 2024, 8:28 am IST
Stocks Live Updates: Stocks To Buy On December 12
Shiju Koothupalakkal - Technical Analyst at Prabhudas Lilladher has recommended buying three stocks on Thursday. These are - BUY BHEL cmp 253.70 Stop Loss 247 Target 267; BUY TOURISM FINANCE cmp 175.70 Stop Loss 172 Target 187; and BUY SYRMA SGS TECH cmp 595.90 Stop Loss 583 Target 634
Dec 12, 2024, 8:27 am IST
Market Live Updates: Nifty, Bank Nifty Support And Resistance
Shiju Koothupalakkal - Technical Analyst at Prabhudas Lilladher expects support and resistance for Nifty 50 to be around 24500 and 24800 respectively on December 12. While Bank Nifty's support is seen at 53,000 and resistance at 54,000.
Dec 12, 2024, 8:23 am IST
Stock Market Live Updates: Meta Stock Rises Despite Global Outlook
Thousands of users globally faced technical glitches on their WhatsApp, Instagram and Facebook as these social media giants witnessed massive outages in the late hours of Wednesday, which continued till the early hours of Thursday, December 12. Billionaire Mark Zuckerberg's Meta has shed light on the global outage. As per the latest development, the majority of the issue has been resolved. Despite the global outage, Meta shares ended higher by 2.16% on Nasdaq, to 2.68 a piece on December 11, 2024.
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