The Indian market opened with mild gains and then slid on December 13 amid mixed global signals. The Sensex experienced a decline of 61.26 points, or 0.09%, settling at 69,489.77, while the Nifty saw a dip of 12.00 points, or 0.06%, closing at 20,894.40. Among the listed stocks, 1,655 showed positive movement, 575 recorded losses, and 109 remained unchanged.
In the Nifty index, notable gainers included Eicher Motors, NTPC, ITC, BPCL, and UPL, while ONGC, HDFC Bank, TCS, HDFC Life, and Infosys were among the significant losers for the day.
The Indian equity markets witnessed a correction on Tuesday, snapping their winning streak ahead of US inflation data and the Federal Reserve's policy announcement. The BSE Sensex dropped 377.50 points, and the NSE Nifty slipped 90.70 points. Here's a roundup of the day's market movements and what to watch out for on Wednesday.
The Indian equity markets experienced a gradual correction on Tuesday, with the 30-share BSE benchmark Sensex closing down 0.54% at 69,551.03, and the NSE Nifty slipping 0.43% to 20,906.40. Sectoral indices were uniformly in the red, with capital goods, oil & gas, power, and realty shedding 1% each, except for Metal. The Midcap Index fell 0.4%, and the Smallcap Index was down 0.2%.
Stocks like Sun Pharmaceutical, IndusInd Bank, Maruti Suzuki, Titan, and Reliance Industries settled in the red, while UltraTech Cement, JSW Steel, Axis Bank, TCS, and Wipro ended in the green.
Ahead of Wednesday's trading session, several stocks are poised for attention: Indian Bank has launched a qualified institutional placement (QIP) to raise up to Rs 4,000 crore, with a floor price set at Rs 414.44 per share. Bank of Baroda will consider fund raise on December 15, 2023. Equitas Small Finance Bank has appointed Ashwini Biswal as its Chief Compliance Officer, effective from January 28, 2024. The US FDA has issued Form 483 with five observations for the manufacturing facility of Laurus Labs' arm, Laurus Synthesis. The company assures it will address the observations within stipulated timelines.
Global cues suggest a mixed bag for the Indian markets. The GIFT Nifty is trading at a premium of more than 50 points from Nifty Futures Tuesday close, indicating a positive start. In the US, stocks closed at fresh highs after inflation data did little to alter views on the Federal Reserve's rate cut timing. The Dow Jones Industrial Average gained 0.48%, the S&P 500 rose 0.46%, and the Nasdaq Composite climbed 0.70%. The European Central Bank and the Bank of England are also set to deliver their policy verdicts later this week.
As the Indian market gears up for Wednesday's trading session, the spotlight will be on key stocks and their performances. The market dynamics, both domestically and globally, continue to play a crucial role in shaping investor sentiment.
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Dec 13, 2023, 2:50 pm IST
Top 5 Gainers and Losers Today
Source: NSE
Dec 13, 2023, 2:31 pm IST
Adani Total Gas Share Price
Adani's natural gas stock, Adani Total Gas is under huge selling pressure for second consecutive sessions, struggling to retain its Rs 1,000 mark which was garnered over the last month's bulls bandwagon. On Wednesday, Adani Total Gas is down by as much as 10%. Toppled by bears since yesterday, Adani Total Gas has nosedived by at least 14.5% in two days.
Dec 13, 2023, 2:03 pm IST
Mahindra And Mahindra, Along With External Investors To Invest Rs 875 Crore In Classic Legends Private Limited, Stock Rises
Mahindra And Mahindra on Wednesday completed the execution of a Securities Subscription Agreement and Amended & Restated Shareholders’ Agreement between the Company, Existing Shareholders and New Investors of Classic Legends Private Limited, a subsidiary of the Company (“CLPL”), setting out the terms and conditions of the Proposed Investment of Rs. 875 crores by way of subscription to Compulsorily Convertible Preference Shares (“CCPS”) and Equity Shares of CLPL, out of which the Company has agreed to invest of Rs. 525 crores and the balance Rs. 350 crores will be invested by Existing Shareholders and New Investors in CLPL in one or more tranches in accordance with the terms and conditions as stipulated in the Agreements.UltraTech Cement Shares Trade on new 52 Week High To Cross Rs 10,000 Mark.
The stock was up over 1% at Rs 1657.50 per share at 1:56 pm IST today.
Dec 13, 2023, 1:24 pm IST
UltraTech Cement Shares Trade On New 52 Week High To Cross Rs 10,000 Mark
UltraTech Cement shares jumped beyond the Rs 10,000 mark for the first time on Wednesday as the stock traded at a new 52 52-week high value of Rs 10040.00 in the intraday trading session. The stark jump in the company's share price propelled the company's market capitalization near the Rs 3 lakh crore figure.
Dec 13, 2023, 12:42 pm IST
Titagarh Rail Systems Shares Gain 1.27% On Raising Rs 699.9 Crore By Issuing Fresh Shares Io Qualified Institutional Buyers
The share price of Titagarh Rail Systems traded in the green on Wednesday after the company informed that the Qualified Institutions Placement Committee has approved the issue and allotment of 75,02,679 Equity Shares to the eligible Qualified Institutional Buyers (QIBs) at the issue price of Rs. 933 per Equity Share i.e. at a premium of Rs. 931 per Equity Share aggregating to Rs. 69999.99 Lakhs pursuant to the Issue. The stock was up 1.27% at Rs 1024.40 per share at 12:36 pm IST.
Dec 13, 2023, 12:16 pm IST
Interglobe Aviation Shares Hit 52-Week High On Fall In Crude Oil Prices
The share price of Interglobe Aviation traded at a new 52-week high value of Rs 3006.90 in the intraday trading on Wednesday on the back of easing crude oil prices and a rise in air traffic. At 12:11 am IST, the stock was up 1.44% at Rs 2974.00 per share.
Dec 13, 2023, 12:00 pm IST
Retail Giant Future Lifestyle Informs Eighth Meeting of COC, Hella Infra Market Private Limited Acquires Shalimar Paints
Future Future Lifestyle Fashions Limited has informed the Exchange about the Corporate Insolvency Resolution Process held in the 8th Committee of Creditors meeting held yesterday. Shalimar Paints is now a part of Hella Infra Market Pvt. Ltd after it took over by purchasing 53,465 equity shares. Today Shalimar paints trade at Rs. 180/- after a recent 52-week high of Rs. 202/-
Dec 13, 2023, 11:47 am IST
HPL Electric & Power Climbs Today Above 7%, Naysaa Securities updates Exchanges on Altered Object Clause
HPL Electric & Powers gained more than Rs. 15 per share, about to cross previous resistance amidst a press release today. Naysaa Securities has altered its Objects clause of the Memorandum of Association via Postal Ballot held on 18'" November 2023 to carry on the business of Builders & to carry on business of running hotels. Uniparts India Ltd has informed the Exchange about changes in Directors, Key Managerial Personnel, Auditor, Compliance Officer, and Share Transfer Agent.
Dec 13, 2023, 11:30 am IST
Gold Losses Shine For Fourth Consecutive Day
International Yellow Metal is costing way below the psychological levels, falling more than 7.5% after posting the highest recorded prices last week. MCX Gold Futures expiring next February today stand in red at Rs. 61,100/- range. Kalyan Jewellers shares fell around 4.38% in four weeks whilst Rajesh Exports fell sharply by 17% in the same time.
Dec 13, 2023, 11:15 am IST
Mr. Rangan Of Atul Limted Joinds HDFC Bank,Graphite India Declares It's Recent Investment
Atul Limited has informed the Exchange regarding the Change in Directors of the company as Mr. Srinivas Rangan joined HDFC Bank as an independent director today. Graphite India informs exchanges of purchasing compulsory convertible preference Series B shares of Gold India Private Limited, totaling up to 31% stake in fully diluted share capital. JTL Industries to have a board meeting on 18th December for decisions related to fundraising.
Dec 13, 2023, 10:59 am IST
Leyland Unveils Products at EXCON 2023
Ashok Leyland unveiled today AL H6 Diesel – CEV Stage V engine, along with other innovative products at EXCON 2023. Mr. Shenu Agarwal, MD & CEO, Ashok Leyland said, “Ashok Leyland has a proven track record of meeting customer needs through high-quality products. As the need for enhanced fuel efficiency rises and the integration of alternative fuels with diesel engines continues to grow, we present a comprehensive array of state-of-the-art engine solutions. Our engines can be customized for various applications, catering to the evolving demands of the industry. We are committed to fostering self-reliance in India's engine segment and aspire to be at the forefront of the 'Make in India' initiative.”
Dec 13, 2023, 10:43 am IST
Rupee On Brinks Of Falling Further
Today The USD-INR Futures expiring this December traded at 83.42 levels and started to climb higher than the previous resistance of 83.46 range. Us inflation yesterday resulted in a 4% average yearly growth and a 0.3% monthly gain in overall prices. Markets lose expectations of a fall in Federal interest rates ahead.
Dec 13, 2023, 10:27 am IST
Shreeram Properties Decides To Allot Shares Worth Rs. 36,51,814/- In ESOP
Currently trading at Rs. 118.5/- per share, Shreeram Properties has declared with NSE and BSE that it would allow 30,817 shares towards Employee Stock Option Plan. Nifty Realty trading in red so far. Whirpool India informs Exchanges regarding reappointment of Two Independent Directors.
Dec 13, 2023, 10:12 am IST
Sunteck Realty Ltd. Today Gains Highest Trading Volumes Since July
Sunteck Realty might witness the selling of a 4.1% stake from Starlight Systems and Satguru Info after almost 4.75% of outstanding shares changed hands at a 3% discount rate.
Dec 13, 2023, 10:02 am IST
REC Nears All-Time High, Gains 250% YTD
Shares of REC are hovering close to their peak at Rs 424.95 per share. The stock has shown positive performance in three of the last five trading sessions and in 10 out of the last 13 sessions, resulting in 251% year-to-date gains.
Dec 13, 2023, 9:38 am IST
PFC Emerges as Leading Midcap Index Gainer
PFC shares continue their positive trend for the fourth consecutive day, marking a 3.8% increase. Impressively, the stock has shown gains in 11 of the past 12 trading sessions. The stocks has surged by 238% on a year-to-date basis.
The Indian market opened with mild gains and then slid on December 13 amid mixed global signals. The Sensex experienced a decline of 61.26 points, or 0.09%, settling at 69,489.77, while the Nifty saw a dip of 12.00 points, or 0.06%, closing at 20,894.40. Among the listed stocks, 1,655 showed positive movement, 575 recorded losses, and 109 remained unchanged.
In the Nifty index, notable gainers included Eicher Motors, NTPC, ITC, BPCL, and UPL, while ONGC, HDFC Bank, TCS, HDFC Life, and Infosys were among the significant losers for the day.
Dec 13, 2023, 9:12 am IST
US FDA Issues 5 Observations For Laurus Labs' Arm's Parawada Facility
Laurus Labs reported that its wholly-owned subsidiary, Laurus Synthesis Private Ltd (LSPL), underwent a thorough examination by the US Food and Drug Administration at its manufacturing facility in Parawada, Anakapalli, near Visakhapatnam, Andhra Pradesh. The inspection, conducted from December 4-12, 2023, resulted in the issuance of a Form 483 listing five observations.
Dec 13, 2023, 9:09 am IST
Axis Bank Block Deal, 69 Lakh Shares Change Hands
A total of 69 lakh shares, valued at Rs 773 crore, were traded for Axis Bank at a rate of Rs 1,120 per share.
Dec 13, 2023, 9:08 am IST
Rupee Opens Flat Against US Dollar Vs Tuesday's Close
The Indian rupee commenced the trading session unchanged at 83.38 per dollar, mirroring the previous day's closing rate of 83.38.
Dec 13, 2023, 9:00 am IST
Crude Prices Remain Steady Following 4% Decline In Previous Session
Oil stabilizes in the Asian market following a nearly 4% decline on Tuesday, prompted by increased production from Russia and the United States, heightening worries about oversupply. West Texas Intermediate hovered below per barrel, and the global benchmark Brent remained close to . Russia's weekly average of seaborne crude exports surged to the highest point since early July, while the US revised its output estimate for the current year upwards.
Dec 13, 2023, 8:53 am IST
Asian Markets Open Mixed Following US Inflation Figures
Asian stocks exhibit a mixed trend as the impending Federal Reserve rate decision looms large. Wall Street experienced modest shifts, and lackluster US inflation figures intensify speculations that policymakers may refrain from declaring victory hastily. South Korean stocks declined, while those in Australia and Japan witnessed an uptick. Futures for Hong Kong stocks remained steady, and their US counterparts saw marginal gains after the S&P 500 achieved modest increases on Tuesday, reaching its highest point since January 2022. The VIX, Wall Street's volatility index, inched toward a four-year low, reflecting a subdued market sentiment.
Dec 13, 2023, 8:51 am IST
Perspective On CPI And IIP Data By Nikhil Gupta, Chief Economist, MOFSL Group
"Another month of great duo data. Lower than expected inflation and better IIP growth to keep RBI task simpler. Headline CPI inflation came in at 5.55% YoY in Nov'23, lower than the market consensus of 5.8% (and our forecast of 5.9%). Core inflation eased to 4.1%, though food inflation was at 3-month high of 8.7%. CPI ex veggies was at 46-month low of 4.7% in Nov'23. Core services inflation was unchanged at 3.4%, the lowest in record (since 2015). Details of 299 items suggest that 42% of the basket posted 5%+ inflation last month, similar to that on Oct'23 and the lowest since mid-2021. Similarly, IIP grew 11.7%, better than our forecast of 11% and mkt consensus of 10.5%. All said and done, we expect moderation in 3QFY24 real GDP growth and inflation to remain ~5.2% YoY in 4QFY24. The RBI, thus, doesn't need to think about easing at all and keep monetary policy unchanged in the coming months," says Nikhil Gupta, Chief Economist, MOFSL Group.
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