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At 13:25 IST, the barometer index, the S&P BSE Sensex was advanced 17.44 points or 0.02% to 78,491.32. The Nifty 50 index added 24.25 points or 0.10% to 23,751.90.
In the broader market, the S&P BSE Mid-Cap index fell 0.42% and the S&P BSE Small-Cap index fell 0.33%.
The market breadth was negative. On the BSE, 1,605 shares rose and 2,295 shares fell. A total of 121 shares were unchanged.
Gainers & Losers
Adani Ports & Special Economic Zone (up 1.80%), Mahindra & Mahindra (M&M)(up 1.58%), Maruti Suzuki India (up 1.57%), SBI Life Insurance Company (up 1.51%) and Tata Motors (up 1.30%) were major Nifty gainers.
Asian Paints (down 0.75%), Grasim Industries (down 0.70%), Tata Consumer Products (down 0.55%), HDFC Bank (down 0.46%) and JSW Steel (down 0.42%) were major Nifty losers.
Stocks in Spotlight:
Ola Electric Mobility rose 0.62%. The company said that it has expanded its network to 4,000 stores nationwide, registering a four-fold increase from the existing network.
Ramky Infrastructure advanced 2.25% after the company received a letter of acceptance from the Hyderabad Metropolitan Water Supply & Sewerage Board (HMWSSB) for maintaining sewage treatment plant (STP). The said order is valued at approximately Rs 215.08 crore.
Capital India Finance rose 1.24%. The company’s board has approved sub-division of 1 equity share of face value of Rs 10 into 5 equity shares having face value of Rs 2, subject to approval of members of the company.
Garware Technical Fibres rallied 4.43% after the company has received in-principle approval letter from National Stock exchange (NSE) for bonus issue in the ratio of 4:1.
Godfrey Phillips India jumped 6.95% after the company announced that its nomination and remuneration committee has approved the appointment of Siddharth Chawla as chief operating officer (COO).
Bharat Petroleum Corporation (BPCL) rose 0.62% after the company announced its participation in NTPC’s tender for the selection of solar power generators to establish 1200 MW ISTS-connected solar PV power projects across India.
Ceigall India jumped 3.28% after the company’s subsidiary, Ceigall Ludhiana Bathinda Greenfield Highway Private has executed concession agreement with the National Highways Authority of India (NHAI) to develop highway in Punjab.
Gland Pharma advanced 0.90%. The company said that the Agence nationale de sécurité du médicament et des produits de santé (ANSM), France, has issued 10 observations to Cenexi’s facility post an inspection conducted this month.
Global Markets:
European market remained close today on account of Boxing Day.
Asia-Pacific stocks advanced on Thursday, investors closely tracked the developments in the Japanese economy after media reports stated that the country was preparing a record $735 billion budget for its fiscal year starting in April. The budget will account for increased social security and debt-servicing expenses, the report said.
On Wednesday, Bank of Japan’s Governor Kazuo Ueda reportedly said: “Japan’s economy will move closer to sustainable and stable 2 percent inflation [in 2025], accompanied by wage increases.”
Traders in Asia will be looking at November manufacturing output data coming out of Singapore later in the day.
The Chinese government said on Wednesday that efforts to stabilize and stem the declines of the country’s real estate market will persist in 2025. The measures will include controlling the supply of commercial housing to optimize supply.
In the US, stocks jumped Tuesday on Christmas Eve as the market pulled off back-to-back gains in the holiday week.
The S&P 500 added 1.1% to 6,040.04, and the Dow Jones Industrial Average gained 390.08 points, or 0.91%, to 43,297.03. The Nasdaq Composite climbed 1.35% to 20,031.13. Tuesday marked the start of the seasonal Santa Claus rally, which happens in the last five trading days of the year and the first two in January.
With two straight winning days, the S&P 500 is up 1.8% this week, while the Dow has gained about 1%. The strong rally in megacap tech lifted the Nasdaq up 2.3% week to date.
At 13:25 IST, the barometer index, the S&P BSE Sensex, declined 96.63 points or 0.12% to 81,618.36. The Nifty 50 index lost 32.65 points or 0.13% to 24,645.15.
The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rallied 0.32% and the S&P BSE Small-Cap index rose 0.46%.
The market breadth was positive. On the BSE, 2,354 shares rose and 1,639 shares fell. A total of 117 shares were unchanged.
Gainers& Losers:
Larsen & Toubro (up 2.11%), SBI Life Insurance Company (up 1.94%), Adani Ports & Special Economic Zone (up 1.19%), HDFC Bank (up 1.18%) and Kotak Mahindra Bank (up 0.99%) were major Nifty gainers.
Tata Consumer Products (down 4.20%), Hindustan Unilever (HUL) (down 3.25%), Nestle India (down 1.96%), Britannia Industries (down 1.60%) and Tata Motors (down 1.39%) were major Nifty losers.
CEAT soared 10.35% after RPG group company has entered into definitive agreement with associate companies of the Michelin Group (Michelin) to acquire Camso brand’s Off-Highway construction equipment tyre and tracks business.
Biocon fell 2.95% after the company has announced that it has received the establishment inspection report (EIR) from the U.S. Food and Drug Administration (USFDA) for its active pharmaceutical ingredient (API) facility located at Jigani Link Road, Bengaluru, Karnataka.
Everest Organics spurted 19.97% after the company announced that its board of directors will meet on 10 December 2024 to consider and approve the proposal for fundraising.
Godrej Consumer Products declined 8.99% after the company said that the standalone business is expected to report around flattish UVG (underlying volume growth) and around mid-single digit sales growth in this quarter.
The surge in palm oil and derivatives prices to the extent of a y-o-y increase of 20-30% has impacted the soaps category, which represents around 1/3rd of the company’s standalone business revenue. The company said that the weather conditions have not been supportive (delayed winters in North and cyclone in South India) to the Home Insecticides (HI) segment, contributing approximately 1/3rd of its standalone business. This has impacted HI category growths in the current quarter.
Bajaj Healthcare rallied 5.18% after the company’s Active Pharmaceutical Ingredient (API) manufacturing site at Savli, Vadodara in Gujarat received approval from Therapeutic Goods Administration (TGA), Australia.
Global Market:
European market advanced. Investors assessed geopolitical upheaval in the Middle East after the ousting of Syrian President Bashar al-Assad over the weekend.
Most Asian stocks slipped on Monday, as investors grappled with South Korea's political turmoil and awaited fresh stimulus measures from China. Oil prices remained steady following the dramatic fall of the Syrian government.
China’s consumer prices rose less-than-expected in November, climbing 0.2% from a year ago, according to data from the National Bureau of Statistics released Monday.
Investors are gearing up for a pivotal week, marked by a flurry of central bank decisions across four continents, a crucial meeting of Chinese officials, and the release of key US inflation data. This flurry of economic events will shape investment strategies for the remainder of 2024 and set the stage for 2025.
Last Friday, US indices hit record highs on Friday, where technology stocks continued to push higher as stronger-than-expected nonfarm payrolls data did little to deter bets on a December rate cut. Markets were also seeking more cues on what President-elect Donald Trump’s policies will entail for the U.S. in the coming years.
The S&P 500 rose 0.3% to 6,090.27 points on Friday, while the NASDAQ Composite rose 0.8% to 19,859.77 points, with both indexes eking out record highs. The Dow Jones Industrial Average lagged, falling 0.3% to 44,642.52 points.
Nonfarm payrolls increased by 227,000 jobs last month, above the expected 202,000, after rising an upwardly revised 36,000 in October as the labor market reeled from Hurricanes Helene and Milton as well as a big strike at Boeing factories in the West Coast.
Investors were waiting to see what a major regime change in Syria will entail for geopolitics in the Middle East, after rebel forces ousted President Bashar al-Assad and took control of Damascus, ending 13 years of civil war. Media reports said al-Assad had landed in Moscow, while Israeli forces had entered Syria.
US investors are eagerly awaiting the release of consumer price index inflation data on Wednesday. This key economic indicator will provide further insights into the health of the US economy and the future trajectory of interest rates.
Adani Ports & Special Economic Zone (APSEZ) announced that during the month of November 2024, the company handled 36 MMT of total cargo, driven by containers, which was up by 21% YoY.
YTD November 2024, APSEZ handled 293.7 MMT of total cargo (+7% YoY). This growth was supported by containers, which was up 19% YoY, followed by liquids & gas (+7%).
YTD November 2024, logistics rail volumes grew 10% YoY to 0.42 Mn TEUs and GPWIS volumes grew 15% YoY to 14.2 MMT.
On a year-to-date (YTD) basis, the company has handled cargo volumes of 293.7 MMT of total cargo, up 7% YoY. This growth was supported by containers (up 19% YoY), followed by liquids & gas (up 7% YoY).
The company’s YTD Nov’24 logistics rail volumes have grown by 10% YoY to 0.42 million TEUs and GPWIS volumes have risen by 15% YoY to 14.2 MMT.
Adani Ports & Special Economic Zone (APSEZ) is in the business of development, operations and maintenance of port infrastructure (port services and related infrastructure development) and has linked multi product Special Economic Zone (SEZ) and related infrastructure contiguous to port at Mundra.
APSEZ's consolidated net profit jumped 39.86% to Rs 2,445 crore on 6.32% rise in revenue from operations to Rs 7067.02 crore in Q2 FY25 over Q2 FY24.