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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 10:29 IST, the barometer index, the S&P BSE Sensex, declined 17.27 points or 0.02% to 81,508.87. The Nifty 50 index fell 26.05 points or 0.11% to 24,615.75.
The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index shed 0.16% and the S&P BSE Small-Cap index slipped 0.37%.
The market breadth was negative. On the BSE, 1,567 shares rose and 2,088 shares fell. A total of 166 shares were unchanged.
Buzzing Index:
The Nifty Media index fell 1.38% to 1,983.15. The index slipped 4.84% in five consecutive trading sessions.
Network 18 Media & Investments (down 3.9%), Saregama India (down 2.45%), Dish TV India (down 1.64%), Sun TV Network (down 1.41%), Hathway Cable & Datacom (down 1.11%), PVR Inox (down 1.11%), Den Networks (down 0.4%), Tips Music (down 0.04%) declined.
On the other hand, Nazara Technologies (up 0.49%), Zee Entertainment Enterprises (up 0.01%) edged higher.
Waaree Energies rose 2.27% after its wholly owned subsidiary, Waaree Forever Energies, received a Letter of Award for the development of a 170 MW solar power plant in Madhya Pradesh from Rewa Ultra Mega Solar (RUMSL).
Acme Solar Holdings advanced 1.31% after the company announced that it has successfully secured a 250 MW Firm & Dispatchable Renewable Energy (FDRE) project in the e-reverse auction conducted by NHPC on 10 December 2024, at a tariff of Rs 4.56 per unit.
Grasim Industries shed 0.77%. The company informed that the finance committee of its board has approved the issuance of non-convertible debentures on a private placement basis for an amount up to Rs 2,000 crore in one or more tranches.
The company’s consolidated net profit to Rs 389.90 crore in Q2 FY25 as compared with Rs 1,163.75 crore posted in Q2 FY24. Revenue from operations increased 11.06% YoY to Rs 33,562.85 crore in second quarter of FY25, driven by the superior performance of financial services, cellulosic staple fibre and specialty chemicals businesses.
The counter declined 0.58% to Rs 2,655 on the BSE.