Indian equity markets closed in the red for the second consecutive session on December 9, with the Nifty settling near 24,600. The Sensex declined 200.66 points or 0.25% to close at 81,508.46, while the Nifty slipped 58.80 points or 0.24% to end at 24,619.
Market breadth was mixed, with 2,222 stocks advancing, 1,692 declining, and 151 remaining unchanged. Key losers on the Nifty included Tata Consumer, HUL, Tata Motors, Axis Bank, and Nestle India, while gainers were L&T, Wipro, SBI Life Insurance, BPCL, and Tata Steel.
Sectorally, FMCG and Media indices fell 2% each, with Pharma, PSU Banks, Auto, and Energy indices also dipping 0.5%. However, the Metal index gained 0.6%, and the Capital Goods index rose by 1%. On a broader scale, the BSE Midcap index added 0.3%, while the Smallcap index advanced 0.5%.
Meanwhile, the Indian rupee ended marginally weaker at 84.73 per dollar, compared to the previous close of 84.69.
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Dec 09, 2024, 3:43 pm IST
Market Ends Mildly Lower
Indian equity markets closed in the red for the second consecutive session on December 9, with the Nifty settling near 24,600. The Sensex declined 200.66 points or 0.25% to close at 81,508.46, while the Nifty slipped 58.80 points or 0.24% to end at 24,619.
Dec 09, 2024, 2:45 pm IST
Wipro Partners with SIAM.AI to Develop AI-Powered Digital Assistant for Thailand Tourism
Wipro, a leading technology services and consulting firm, has announced a collaboration with SIAM.AI, a member of the NVIDIA Cloud Partner program in Thailand. The partnership aims to utilize NVIDIA's accelerated computing and software to create an AI-driven digital assistant for the Tourism Authority of Thailand.
Dec 09, 2024, 2:45 pm IST
Uno Minda Commences Commercial Production at Pune Lighting Plant
Uno Minda has begun commercial production at its four-wheeler lighting facility located in Khed, Pune. The company plans to gradually scale up operations at the plant in the coming months.
Dec 09, 2024, 2:45 pm IST
Navin Fluorine Subsidiary Begins Commercial Operations at Dahej Plant
Navin Fluorine Advanced Sciences Limited, a wholly-owned subsidiary of Navin Fluorine, has started commercial operations at its facility in Dahej, Gujarat. The plant, dedicated to manufacturing and supplying key fluoro specialty chemicals, dispatched its first commercial lot to a customer today.
Dec 09, 2024, 1:59 pm IST
Roto Rudra Secures Global and Domestic Orders
Roto Energy Systems Ltd., a subsidiary of Roto Pumps Ltd., has secured orders for over 400 units for its newly launched Solar Submersible Pumping Systems under the brand name “Roto Rudra”, reinforcing its position as a key player in sustainable water management globally. The orders span Australia, South Africa, and the Indian states of Chhattisgarh and Maharashtra, supporting agriculture, irrigation, and renewable energy initiatives. In South Africa, the Company will supply 100 units of solar submersible helical rotor and centrifugal pumping sets and in Australia, the Company will supply 100 solar submersible helical rotor pumping sets.
Dec 09, 2024, 1:39 pm IST
CEAT's Acquisition Of Camso's Off-Highway Tyre Business Fuels 9% Stock Surge
Shares of CEAT surged by 9 percent, reaching a new all-time high of Rs 3,370 on December 9, following the announcement of its acquisition of the Off-Highway construction equipment bias tyre and tracks business from the Camso brand, owned by Michelin, in a deal worth approximately 5 million. This strategic move is set to broaden CEAT's offerings in the lucrative Off-Highway Tyres (OHT) and tracks market segments, which include a variety of products such as agriculture tyres and tracks, harvester tyres and tracks, and material handling tyres. The company's focus on these high-margin segments is evident through this acquisition.
Gold prices in India saw an astonishing rise today, Monday, December 9, amid the political turmoil in South Korea, the Syrian Civil War, and clashes between Russia and Ukraine. Gold prices are anticipated to receive more support in the face of global concerns as the Fed takes a cautious approach to rate cuts amid robust economic data.
Gold currently costs Rs 7,130 per gramme in India for 22 carat gold and Rs 7,778 per gramme for 24 carat gold. In India, the price of 22k of 10 grams of gold was Rs 71,300 on Monday, up Rs 150 from Rs 71,150 yesterday. Meanwhile, the price of 22k of 100 grams of gold was Rs 7,13,000 today, up by Rs 1,500 from Rs 7,11,500 yesterday.
Paytm Shares Price Rally; Stocks Hit 52-Week High of Rs. 1007 After PayPay Stake Sale Announcement
Shares of One 97 Communications, better known as Paytm, surged nearly 3%, reaching Rs. 1007.55 at 9:20 AM in morning trade on the BSE. This spike in stock prices followed a major announcement made by the company on December 6th.
Paytm revealed plans to sell 5.4% of its stake in Japan's digital payments company, PayPay Corp. The valuation of the proposed sale is estimated at JPY 41.9 billion, or approximately Rs. 2,364 crore.
The board of One 97 Communications Singapore Pvt. announced the approval of the sale during a meeting held on December 6th. According to the company’s latest filing with the exchanges, the deal is expected to close by the end of December 2024.
Dec 09, 2024, 12:31 pm IST
Hyundai Motor India Limited to Install Nearly 600 Fast Public EV Chargers
Hyundai Motor India Limited (HMIL) aims to set up nearly 600 public EV fast charging stations across the country in the next 7 years. The company will have a network of 50 fast public charging stations by the end of December 2024. This ambitious initiative underscores HMIL's commitment to fostering sustainable mobility and is poised to play a pivotal role in India's transition to cleaner energy. Commenting on the announcement, Mr. Jae Wan Ryu, Function Head – Corporate Planning, HMIL said, “The EV market is expected to grow robustly by 2030. Studies conducted by HMIL have highlighted that customers are apprehensive about driving their EVs for long-distance commutes on highways due to a lack of charging infrastructure. Keeping this in mind, HMIL has taken the initiative of installing fast EV chargers on key highways, in addition to major cities. With access to HMC's global EV and battery technology, HMIL is well-positioned to build a comprehensive EV ecosystem in India. We are actively investing in infrastructure to support the expected growth in demand for electric vehicles."
Dec 09, 2024, 12:03 pm IST
Stocks To Buy: Juniper Hotels | Largest owner of Hyatt affiliated hotels in India
“Juniper Hotels Limited (JUNIPER) is a leading luxury hotel developer and the largest owner of "Hyatt" affiliated hotels in India. The company operates 2,115 keys across 8 hotels and serviced apartments located in key metro cities (Mumbai, Delhi and Bengaluru), emerging business hubs (Ahmedabad, Lucknow, Raipur), and upcoming tourist destinations (Hampi). JUNIPER benefits from a strategic partnership between Saraf Hotels, a seasoned hotel developer with over four decades of expertise, and Hyatt, one of the leading global hospitality brands. With an extremely comfortable leverage position and steady cash flows from its existing portfolio, the company is well positioned to embark on its next phase of growth and is planning to add more than 1,000 rooms over the next 3 years primarily through ROFO assets and brownfield acquisitions. We estimate revenue CAGR of c.15% over FY24-27E and EBITDA CAGR of c.20% over the same period, with EBITDA margins expected to reach 43% by FY27E. We initiate coverage with a BUY rating and a target price (TP) of INR 450, valuing the company at 22x Jun’26 EBITDA,” said Sumit Kumar of JM Financial Services.
Dec 09, 2024, 11:55 am IST
Nifty Prediction Today By Akshay Chinchalkar, Head of Research At Axis Securities
The nifty's drop on Friday traced a small-sized bar contained within Thursday's long-range, creating a so-called "inside day". This represents volatility compression but since volatility is cyclical, one should expect a trending move soon. At current prices, the nifty is facing resistance from the 50- and 100-day moving averages and an Ichimoku hurdle, so the 24800 - 24900 area is formidable. Supports lie at 24,445 and 24,360.
Dec 09, 2024, 11:46 am IST
Nifty Outlook Today By Anand James, Chief Market Strategist, Geojit Financial Services
Consecutive days of close above 24500, which is also the neckline of an inverted H&S pattern, encourages us to lift the medium term upside target higher to 25600-700, from 25262 set in late November. For the day, we are not keen on chasing prices higher, as was the case on Friday as well. Alternatively, upswings to 24860 could be eyed, if slippages are held above 24600. Inability to float above 24530 will cast doubts on the upside potential, but brief drops to 24380 may be ignored. It would require a close below 24150 to force us to completely abandon the downside view.
Dec 09, 2024, 11:33 am IST
Sector Update: Winter Products Sees Slow Off-Take; Cables And Wires Continues To Register Strong Volume Growth
“Our interaction with the dealers of consumer durables and electrical suggest post the festive season of Diwali in early November, demand has been subdued with slow start to the winter products. In the month of November demand has been sluggish with slow start to the winter products. Few brands have taken token price increase of 1-2%. Premium products continue to see higher traction on back of no-costs EMI offered by the brands. Moreover, festive season of Diwali saw satisfactory demand with high single digit growth led by RAC and refrigerators, while washing machines grew in mid-single digit. Channel inventory continues to be normalized as dealers and retailers are yet to place the orders for the summer products, which should start from December. On the electrical side agri pumps continues to see strong growth with increasing demand for the solar pumps. Dealers are optimistic that winter products inventory that they are carrying will be liquidated in the ensuing months as winter sets in, while dealers and distributors are very optimistic for the summer products and prospects of strong summer season given the IMD’s prediction of mild winter. We continue to maintain our positive stance on the sector with demand continuing to trend better and increasing ASP with enhanced sales of the premium products. Havells, Crompton and Voltas will be our preferred pick from the electrical and durables space,” said Yes Securities in a note.
Dec 09, 2024, 11:05 am IST
Market Outlook Today By Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services
The near-term trend of the market is mildly bullish. The leadership for the rally which has taken the Nifty up by 3.2% during the last fortnight has come from the leading banks, which are even now fairly valued, and have the potential to take the market forward. The return of the FIIs is another positive which augurs well for the largecaps. The ongoing rally can take the Nifty Bank to new record highs, lifting the Nifty further up. However, the sustainability of the rally is doubtful since the slowing Indian economy will constrain the bulls, and the FIIs may again turn sellers since there is no valuation comfort in the market. The momentum in the US market is robust and in such a scenario the bulls cannot be overly optimistic. Rate cut by the Fed this month is now a foregone conclusion and this will keep the equity markets positive. The medium to long-term trend of the market is uncertain.
Dec 09, 2024, 10:27 am IST
Nifty Outlook Today By Sameet Chavan, Head Research, Technical and Derivative - Angel One
The bulls appear to have returned, with the Nifty50 index sustainably rising above all its major EMAs after a prolonged period. Ultimately, the Nifty marked its third consecutive week of gains, surging over 2.20 percent to close above the 24670 zone. The benchmark index exhibited surprising movements this week but effectively handled the volatility and moved towards a more favorable position. Additionally, the across-board buying emergence led to a smooth transition to the bullish trend. Structurally, the index has surged almost 6 percent from the recent lows and has now headed for the 50 percent Fibonacci retracement of the decline, which is placed around 24770. The sentiments certainly have turned bullish but required a pragmatic approach with dips to augur well for buyers and staying light at elevated zones. Technically, the support base now shifts upward towards 24500 on an intermediate basis, which is likely to cushion any intra-week blips, followed by a sacrosanct support zone placed from the 24350-24250 zone. On the higher end of the spectrum, 24800 followed by 25000-25100 is likely to be seen as the next potential resistances for the benchmark index in the upcoming week.
Dec 09, 2024, 9:53 am IST
Market Live Updates: FMCG Stocks In Free Fall
FMCG stocks nosedived after Godrej Consumer reported about 9% drop in its mid-Q3 update for FY25. Godrej Consumer dipped by 9%, followed by HUL, Marico, Tata Consumer and Britannia shedding 1% to 3%.
Dec 09, 2024, 9:34 am IST
Sensex, Nifty Recover From Early Losses
After opening in red, Indian market picked up momentum with Sensex holding above 81,700 mark and Nifty crossing 24,700 levels. However, gains were capped by sharp selling in FMCG stocks followed by media, metals and pharma stocks. The performance comes amidst mixed global trends.
Dec 09, 2024, 9:14 am IST
Rupee Vs Dollar
In the opening bell of Monday, Indian rupee crossed 84.7 level against US dollar to hit an intraday low of 84.723 at the interbank forex market. Last week, rupee had strengthened to hit below 84.5 levels as well after RBI kept repo rate unchanged for the eleventh time in a row. However, the start of this week has been on a bearish tone. Here is the latest price of rupee against dollar:
Dec 09, 2024, 9:08 am IST
Market Live Updates: Technical Outlook Of Nifty
Anand James, Chief Market Strategist, Geojit Financial Services: Consecutive days of close above 24500, which is also the neckline of an inverted H&S pattern, encourages us to lift the medium term upside target higher to 25600-700, from 25262 set in late November. For the day, we are not keen on chasing prices higher, as was the case on Friday as well. Alternatively, upswings to 24860 could be eyed, if slippages are held above 24600. Inability to float above 24530 will cast doubts on the upside potential, but brief drops to 24380 may be ignored. It would require a close below 24150 to force us to completely abandon the downside view.
Dec 09, 2024, 8:24 am IST
Stocks Live Updates: What To Buy On Dec 9?
Shiju Koothupalakkal - Technical Analyst at Prabhudas Lilladher has recommended 3 stocks to buy on December 9. These are - BUY TD POWER SYS cmp 435.60 Stop Loss 425 Target 460; BUY VA TECH WABAG cmp 1905 Stop Loss 1865 Target 1980; and BUY RAILTEL cmp 435.85 Stop Loss 425 Target 460
Dec 09, 2024, 8:22 am IST
NSE Live Updates: Nifty, Bank Nifty Support And Resistance
Shiju Koothupalakkal - Technical Analyst at Prabhudas Lilladher expects Nifty to find support and resistance around 24,500 and 24,800 on Monday. While Bank Nifty's support and resistance is seen at 53,100 and 54,000.
Dec 09, 2024, 8:20 am IST
Market Live Updates: 5 Stocks To Turn Ex-Date
Ceenik Exports (India), Achyut Healthcare, Shradha AI Technologies, Quasar India, and Exxaro Tiles share price will be in focus from Monday onward they will turn ex-date for their bonus issues, stock splits and dividends.
Dec 09, 2024, 8:18 am IST
Stock Market Live: Stocks In Focus On December
On BSE and NSE, stocks such as Godrej Consumer Products, Biocon, Welspun Corp, Suven Pharma, Poonawalla Fincorp, Delta Corp, Paytm, Easy Trip Planners, pharma stocks, JSW Energy, CEAT, Bajaj Healthcare, Star Health Insurance, Laurus Labs, Reliance Power, and others will be in focus on Monday.
Dec 09, 2024, 8:17 am IST
Market Live Updates: Gift Nifty In Red
In the early trade, Gift Nifty traded lower by 54.22 points or 0.22% to 24,729, which indicates that BSE and NSE benchmarks Sensex and Nifty could see cuts in the opening bell of December 9.
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