Stock Market Live Updates: Bharat Global Developers Completes Rs 300–Crore Project For RIL
Bharat Global Developers has successfully completed the Rs 300 crore Fluidized Catalytic Cracker project for Reliance Industries, according to an exchange filing.
Stock Market Live Update: Seamec Vessels To Operate In Saudi Arabia
Seamec Ltd.’s vessel has been hired by Mermaid Subsea Services for operations in the Kingdom of Saudi Arabia for 50 days, generating $3.46 million, according to an exchange filing.
Stock Market Live: Bitcoin Hits Record High To Surge Above $106,000
Bitcoin reached an all-time high on Sunday evening, surpassing the $106,000 mark, as investors eagerly await the Federal Reserve’s anticipated interest rate decision later this week. The cryptocurrency’s rally comes just 10 days after it crossed the $100,000 threshold on Dec. 5, marking a significant milestone in its recent upward trajectory.
Read the full article here.
Stock Market Live Updates: PC Jeweller Share Price Hits Upper Circuit Post Stock Split
Share price of PC Jeweller Ltd. hit 5% upper circuit on Monday following the company’s announcement of a stock split. The stock split took effect with the ex/record date set for Dec. 16.
Stock Market Live Updates: JSW Energy Gets Multiple Renewable Energy Projects
JSW Energy Ltd. has secured multiple renewable energy projects in the Commercial & Industrial power market, achieving a total locked-in generation capacity of 20 GW.
Stock Market Update: Glenmark Pharma’s US Unit Launches Seizure Drug
Glenmark Pharmaceuticals Ltd. US has introduced Lacosamide Oral Solution, 10 mg/mL, according to an exchange filing.
Stock Market Live Updates: Nifty, Sensex Open Flat; HDFC Bank, Infosys Share Prices Drag
The NSE Nifty 50 and BSE Sensex opened flat on Monday due to lack of significant cues as most investors braced themselves for central banks’ policy decisions across the globe. HDFC Bank Ltd., and Infosys Ltd. share prices dragged the Nifty 50 index.
As of 09:17 a.m., the Nifty 50 was 25.00 points or 0.10% down at 24,743.30, and the Sensex was 136.46 points or 0.17% down at 81,996.66.
For positional traders, the 50-day simple–moving–average at 24,400/80,200 and 24,300/79,900 would be crucial support zones, said Shrikant Chouhan, Head Equity Research, Kotak Securities. As long as the market is trading above these levels, a bullish trend is likely to continue. On the higher side, the market could rally up to 25,000/82,000, with further upside potentially lifting the index to 25,200/82,600.
“We expect Nifty to trade between 24,450 to 25,000 for the day with a slight bullish bias. Bank Nifty was equally volatile on Friday and shot up over 1,000 points from the intraday low. We expect Bank Nifty to also trade with a bullish bias between 53,100 and 54,050,” said IFA Global Research Academy.
HDFC Bank Ltd., Tata Consultancy Services Ltd., Infosys Ltd., Mahindra & Mahindra Ltd., and Kotak Mahindra Bank Ltd. weighed on the Nifty 50 index.
Reliance Industries Ltd., ITC Ltd., Bharti Airtel Ltd., ICICI Bank Ltd., and Shriram Finance Ltd. added to the Nifty 50 index.
On NSE, five sectors advanced, four declined, and three remained flat out of 12. The NSE Nifty Realty rose the most, and the NSE Nifty Finance declined the most.
Broader markets outperformed benchmark indices. The BSE Midcap and Smallcap indices were trading 0.48% and 0.69% higher, respectively.
On BSE, 14 sectors advanced, seven declined out of 21. The BSE Realty rose the most, and the BSE Focused IT declined the most.
Market breadth was skewed in favour of buyers. Around 2,212 stocks advanced, 769 stocks declined, and 164 stocks remained unchanged on BSE.
Yield On The 10-Year Bond Opens Flat
The yield on the 10-year bond opened flat at 6.73%. It closed at 6.73% on Friday, according to data Bloomberg.
Stock Market Live: Nifty, Sensex Lower At Pre–Open
At pre–open, the NSE Nifty 50 was trading 0.04% down at 24,753.40, and the BSE Sensex was 0.16% down at 82,000.31.
Rupee Opens Weaker Against US Dollar
Rupee weakened by 4 paise to open at 84.83 against the US Dollar. It closed at 84.79 on Friday, according to data on Bloomberg.
Stock Market Today: Nomura On India Cement
-
Nomura on India Cement: Prefers Ultratech Cement, Shree Cement, Ambuja Cement & Ramco Cement (All Rated Buy)
-
Average Q3FY25 cement spreads rise to Rs 2447/tonne amid flat prices & lower fuel costs
-
Expect industry to keep reaping benefits of the low-cost fuel in H2FY25
-
Cement prices in Dec so far up Rs 5/bag MoM; prices in Q3 up by Rs 2/bag
-
Brokerage bullish on long term tailwinds despite recent correction in stocks
-
Key tailwinds for sector: Higher volume growth, lower operating costs
-
Sector trades at only 14% premium to year 3 year historical avg valuations
-
Neutral rating maintained on Nuvoco Vistas Corp, ACC, Reduce rating on Dalmia Bharat
Stock Market Live Update: Axis Capital On Swiggy
-
Initiates Buy with a target price of Rs 640, which implied a 20% upside.
-
Presents a compelling investment opportunity
-
Believes q-com market Gross order value to touch $6.8 billion FY25E
-
Pickup in quick food delivery through ‘Bolt’ would be a further kicker
-
Profitability sees improvement; quick fixes should aid margin expansion
-
Expects a 38% revenue CAGR (FY24-27E)
Stock Market Live: Citi Research On HCLTech
-
Maintain Neutral, Target: Rs 1,815, downside 7.8%
-
Hosted Nitin Mohta, Head IR
-
80% of HCLT’s US workforce is visa-independent
-
HPE CTG acquisition is focused on expanding its telecom client base
-
Focus is to improve the revenue growth from low single-digit to mid-to-high single-digit growth
-
Near term, HCLT expects low single digit revenue growth yoy trajectory to continue, in Products segment.
Stock Market Today: Citi On Tech Mahindra
-
Maintain Sell, Target: Rs 1,475, downside 18.1%
-
Hosted Atul Soneja, COO
-
Tech Mahindra Ltd. aims to improve margins to 15%, primarily through gross margin improvement
-
Key margin levers are – pyramid improvement, pricing optimization
-
Other levers include reducing subcontracting costs, improving utilization rates
Stock Market Live Updates: Citi Research On TCS
-
Maintain Sell, Target: Rs 3,935, downside 12.1%
-
Hosted Nehal Shah, Head IR
-
Optimism has increased after the US elections, with clients expressing positive sentiment
-
However, actual execution is on hold pending policy clarity
-
Estimate TCS’s earnings will grow at an ~5.5% CAGR in FY24-26E
-
Cost optimization efforts have helped deliver relative good margin performance.
Most Asian Stocks Decline
Most markets in Asia–Pacific were trading lower as traders await data from China and prepare for outcome of the central banks’ policy decisions due this week.
The S&P ASX 200 and KOSPI were trading 0.34% and 0.05% down, respectively. The Nikkei 225 was 0.11% higher.
US Stocks End Friday On Mixed Note
On Friday, stock gauges on Wall Street ended on a mixed note. The Dow Jones Industrial Average ended 0.20%, and S&P 500 ended flat. The Nasdaq Composite ended 0.12% higher.
GIFT Nifty Above 24,700; Bharat Forge, HG Infra, Lupin, Paytm Share Prices In Focus
The GIFT Nifty was trading above 24,700 in early trade Monday. Bharat Forge Ltd., H.G. Infra Engineering Ltd., Lupin Ltd., and One 97 Communications Ltd. share prices may react due to news flow over the weekend.
The GIFT Nifty was trading 0.13% or 31.50 points higher at 24,788.50 as of 6:38 a.m.
The benchmark equity indices recorded a fourth straight week of gains as they ended higher after a volatile trading session on Friday.
The NSE Nifty 50 ended 219.60 points or 0.89% higher at 24,768.30, and the BSE Sensex closed 843.16 points or 1.04% up at 82,133.12.
. Read more on Markets by NDTV Profit.Financial services, oil and gas stocks contributed the most to the benchmarks. Get live updates on Indian stock markets here on Dec 16. Read MoreMarkets, Notifications
NDTV Profit
