Sensex and Nifty Trade Flat; Sugar Stocks Rally: Stock Market Today Live Updates

Sensex and Nifty Trade Flat; Sugar Stocks Rally: Stock Market Today Live Updates Image/Mint

Sensex and Nifty Trade Flat; Sugar Stocks Rally: Stock Market Today Live Updates

The day witnessed benchmark indices remaining mostly flat or in negative territory. By close, the Sensex dropped by 168.66 points or 0.24% to reach 71,315.09, while the Nifty declined by 38 points or 0.18% to settle at 21,418.70.

Among the significant gainers on the Nifty were sugar companies, Eicher Motors, Bajaj Auto, Nestle India, Titan Company, and Dr Reddy’s Labs. Conversely, JSW Steel, Power Grid Corporation, ICICI Bank, ITC, and Cipla were among the losers. The pharmaceutical sector observed a 1% rise, while realty experienced nearly a similar decline. The BSE smallcap index surged by around 0.5%, and the midcap index advanced by approximately 0.3%.

Earlier, the Nikkei concluded lower as investors exercised caution, anticipating indications from Bank of Japan governor Kazuo Ueda regarding a potential shift in the ultra-low rates policy. The Nikkei fell by 0.64% to close at 32,758.98, whereas the broader Topix slipped by 0.66% to 2,316.86.

US contracts slightly increased subsequent to the S&P 500’s minor decline, while the tech-heavy Nasdaq 100 achieved a record high.

The dollar exhibited mixed performance against major counterparts, and Treasury yields continued to rise after New York Fed President John Williams remarked that it was premature for officials to consider reducing borrowing costs.

18 Dec 2023, 03:35:52 PM IST

The rupee concluded marginally lower at 83.06 per dollar compared to Friday’s closing rate of 83.00.

18 Dec 2023, 03:34:57 PM IST

Indian benchmark indices concluded Monday’s session in negative territory. The Sensex closed down by 168.66 points or 0.24% at 71,315.09, while the Nifty ended lower by 38.00 points or 0.18% at 21,418.70.

Among the top losers on the Nifty were JSW Steel, ICICI Bank, ITC, Power Grid Corporation, and ONGC. Conversely, gainers included Adani Ports, Sun Pharma, Bajaj Auto, Hindalco Industries, and Reliance.

18 Dec 2023, 03:30:12 PM IST

According to sources reported by CNBC-TV18, Sebi (Securities and Exchange Board of India) has provided NSE (National Stock Exchange) with a set of conditions that the exchange needs to meet before it becomes eligible to apply for an IPO (Initial Public Offering).

18 Dec 2023, 03:28:10 PM IST

Following its partnership announcement with Vix Technology, Aurionpro Transit, a provider of smart ticketing and payment solutions for transit, saw its stock reach the 5% upper circuit.

As per the company’s exchange filing, Aurionpro Transit is set to create and introduce inventive in-bus solutions that aim to enhance transit operations. These solutions will encompass a central on-vehicle hub catering to diverse functions, including ticketing and communications, streamlining transit processes.

18 Dec 2023, 03:02:45 PM IST

By 3 pm, the Sensex had declined by 148.02 points or 0.21%, resting at 71,335.73, while the Nifty had decreased by 30.50 points or 0.14%, standing at 21,426.20.

18 Dec 2023, 02:47:45 PM IST

Shares of SpiceJet have surged by 17% following news reports indicating that the airline, in conjunction with Sharjah-based Sky One company and Safrik Investments, has expressed interest in acquiring the bankrupt Go First.

18 Dec 2023, 02:34:07 PM IST

Muthoot Microfin’s IPO has witnessed a 45% subscription rate on its first day, receiving bids for 1.09 crore shares out of the 2.43 crore shares offered.

Among the investor categories, retail investors have bid for 77% of their allotted quota, non-institutional investors for 27%, and employees for 77%. Qualified institutional buyers are yet to participate in the bidding process.

18 Dec 2023, 02:20:20 PM IST

Chinese stocks continued their downward trend on Monday, extending losses for the sixth consecutive week. Investor sentiment remained cautious due to indications of a slow economic recovery in recent data. Additionally, signals from a key meeting regarding policies failed to generate enthusiasm among investors, contributing to the prevailing weak risk sentiment in the market.

18 Dec 2023, 02:08:20 PM IST

Junior finance minister Bhagwat Karad mentioned that the government is expected to meet its fiscal deficit target of 5.9% of GDP in FY24. Data released by the government last month revealed that India’s fiscal deficit for the first seven months of the financial year ending on March 31, 2024, amounted to ₹8.04 trillion ($96.86 billion), representing 45% of the estimated deficit for the entire year.

At midday, the Sensex had initially experienced declines but recovered, particularly driven by gains in IT and specific financial stocks. At that point, the Sensex was down by 49.06 points or 0.07%, resting at 71,434.69, while the Nifty had decreased by 6.90 points or 0.03%, standing at 21,449.80. Notable early gainers on the Nifty included sugar companies, Eicher Motors, Bajaj Auto, Nestle India, Titan Company, and Dr Reddy’s Labs. Conversely, JSW Steel, Power Grid Corporation, ICICI Bank, ITC, and Cipla were among the decliners.

The Nikkei average closed lower on Monday, with investors exercising caution as they awaited indications from Bank of Japan governor Kazuo Ueda concerning a potential adjustment in the ultra-low rates policy. The Nikkei concluded with a 0.64% fall at 32,758.98, while the broader Topix slipped 0.66% to reach 2,316.86.

US contracts slightly increased following the S&P 500’s marginal decline, while the Nasdaq 100 achieved a record high.

The dollar showed mixed performance against major counterparts, and Treasury yields continued to rise subsequent to comments from New York Fed President John Williams, who mentioned it’s premature for officials to contemplate reducing borrowing costs.

18 Dec 2023, 02:08:20 PM IST

Junior finance minister Bhagwat Karad mentioned that the government is expected to meet its fiscal deficit target of 5.9% of GDP in FY24. As per government data released last month, India’s fiscal deficit for the first seven months of the financial year ending on March 31, 2024, stood at ₹8.04 trillion ($96.86 billion), representing 45% of the estimated deficit for the entire year.

18 Dec 2023, 02:05:48 PM IST

By 2 pm, the Sensex had decreased by 116.97 points or 0.16%, standing at 71,366.78, while the Nifty had declined by 24.70 points or 0.12%, reaching 21,432.

18 Dec 2023, 01:27:34 PM IST

Inox India’s ₹1,459.32 crore IPO has garnered a subscription rate of 15.54 times as of the final day of bidding. The company received bids for 24 crore shares against the 1.55 crore shares on offer. High Net Worth Individuals (HNIs) bid for 32.94 times their allotted quota, whereas the retail quota saw a subscription rate of 11.51 times. Shares set aside for qualified institutional buyers were subscribed 9.56 times.

18 Dec 2023, 01:04:46 PM IST

Sensex – Down by down 99.81 points or 0.14% at 71,383.94, Nifty -down 22.90 points or 0.11% at 21,433.80.

18 Dec 2023, 12:46:35 PM IST

Sintex BAPL, a subsidiary, has confirmed an investment of approximately ₹807 crore for establishing a manufacturing unit in Telangana, as per an exchange filing on Saturday. The investment will be carried out through a wholly owned step-down subsidiary, Sintex Advance Plastics Limited, spread across three financial years, commencing from FY25.

Despite this announcement, the stock is presently experiencing a decline of 0.22%.

18 Dec 2023, 12:34:31 PM IST

IRCTC shares continue their positive streak today, marking gains in five out of the last six sessions. Over the past month, the stock has surged by approximately 16% and has seen an overall increase of nearly 27% throughout this year.

18 Dec 2023, 12:31:17 PM IST

On Monday, the Nikkei average concluded lower as investors exercised caution, anticipating indications from Bank of Japan governor Kazuo Ueda regarding a potential adjustment in the ultra-low rates policy. The Nikkei fell by 0.64% to conclude at 32,758.98, while the broader Topix declined by 0.66% to reach 2,316.86 at the close.

18 Dec 2023, 12:13:28 PM IST

As per a report in The Times of India, the government is anticipated to discontinue its subsidy for electric two-wheelers, implying the probable non-implementation of the FAME III scheme.

The ongoing FAME II subsidy currently encompasses two, three, and four-wheelers. It commenced on April 1, 2019, with a total allocation of ₹10,000 crore spread over five years, concluding on March 31, 2024.

18 Dec 2023, 12:06:55 PM IST

Granules Pharmaceuticals, a wholly owned subsidiary of Granules India, received five observations from the USFDA following an inspection, as reported in the company’s notification to the stock exchanges on Saturday.

Despite this development, the stock has risen by approximately 1% today.

18 Dec 2023, 12:03:51 PM IST

By 12 pm, the Sensex had declined by 49.06 points or 0.07%, standing at 71,434.69, while the Nifty had decreased by 6.90 points or 0.03%, reaching 21,449.80.

18 Dec 2023, 11:59:53 AM IST

Kellton Tech Solutions revealed securing a multi-year project from Life Insurance Corporation of India (LIC). As a result, the stock has surged by approximately 13% today.

Stock Market Today Live Updates: As of 11 am, the Sensex saw a marginal dip of 4.59 points or 0.01%, standing at 71,479.16, while the Nifty experienced a slight uptick of 4.50 points or 0.02%, reaching 21,461.20.

Noteworthy performers on the Nifty included sugar companies, Eicher Motors, Bajaj Auto, Nestle India, Titan Company, and Dr Reddy’s Labs, while JSW Steel, Power Grid Corporation, ICICI Bank, ITC, and Cipla witnessed declines.

Friday witnessed record highs in the benchmark indices driven by the Fed-induced surge. The Sensex soared past the 71,000 mark, hitting an unprecedented peak of 71,606, whereas the Nifty50 marked an all-time high of 21,492 during the trading session.

The closing figures stood at 71,484 for the Sensex, marking a notable climb of 970 points, and 21,457 for the Nifty, reflecting a gain of 274 points.

In the global market scenario on Monday, early trading showcased a decline in Australian and Japanese equities, while Hong Kong futures hinted at potential losses.

However, US contracts depicted a slight increase following a marginal dip in the S&P 500, juxtaposed with the tech-focused Nasdaq 100 hitting a record high.

Amidst these market movements, the dollar exhibited a mixed trend against major peers. Treasury yields continued to rise after New York Fed President John Williams emphasized that it’s premature for officials to contemplate reducing borrowing costs.

This stance has influenced the ongoing trajectory of the market, contributing to the prevailing uncertainty and cautious sentiment among investors.

18 Dec 2023, 11:47:22 AM IST

Ambuja Cements has announced plans for a significant investment of ₹6,000 crore in renewable power projects. This initiative aims to substantially elevate the company’s green-power capacity from the existing 19% to an impressive 60%.The move signifies Ambuja Cements’ robust commitment towards sustainable energy and environmental consciousness.

By injecting this substantial investment into renewable power projects, the company not only embraces eco-friendly practices but also aligns itself with the larger global focus on renewable energy sources.

This strategic investment underscores Ambuja Cements’ intent to significantly augment its renewable power infrastructure, marking a substantial leap towards a greener and more sustainable future.

18 Dec 2023, 11:45:46 AM IST

Investment advisors caution medium- and long-term investors about the possibility of increased volatility amidst rising valuations. The advice urges vigilance particularly in small-cap and illiquid stocks due to potential liquidity-driven fluctuations, advising investors to tread carefully in these segments.

In contrast, large-cap stocks, especially in the Banking, Financial Services, and Insurance (BFSI) sector, are viewed favorably for investment due to their reasonable valuations and potential stability. The recent rally in the Information Technology (IT) sector is attributed to expectations of a Federal Reserve rate cut in 2024, leading to a re-evaluation of valuations in this sector.

The recommendation leans towards capital expenditure (capex) beneficiaries over consumption-driven sectors, attributing this preference to weakened rural trends and concerns over deficient monsoon seasons. This stance emphasizes a cautious approach towards emerging technology firms. Each company in this domain should undergo individual scrutiny based on its underlying business and valuations before considering investment opportunities.

18 Dec 2023, 11:25:38 AM IST

Global equity markets have surged following the Federal Reserve’s shift to a more dovish stance, anticipating three interest rate reductions in 2024.

Emkay Global Financial Services predicts that the RBI will likely mirror this move with rate cuts of its own. Despite the enthusiasm among equity investors, historical patterns have shown varied outcomes.

Emkay’s analysis indicates that the first phase of RBI’s rate-cut cycles has yielded mixed results for equities (Nifty) in the past 15 years.

18 Dec 2023, 11:20:22 AM IST

Jewellery retailer Motisons Jewellers’ ₹151-crore IPO successfully sailed through in just an hour on the first day due to substantial demand from retail and NII investors.

By 11 am, the issue had been subscribed 2.34 times, with the retail category oversubscribed by 3.60 times and the NII quota by 1.92 times.

18 Dec 2023, 11:07:21 AM IST

General Atlantic Singapore Fund, a foreign promoter, has offloaded 1.7 crore shares of KFin Technologies, accounting for almost 10% of the paid-up equity, via open market transactions.

These shares were sold at an average price of ₹500.5, resulting in a transaction worth ₹850.85 crore. Among the buyers were ICICI Prudential Life Insurance Company, ICICI Prudential Mutual Fund, Societe Generale, and IIFL Securities Limited.

18 Dec 2023, 11:07:21 AM IST

General Atlantic Singapore Fund, a foreign promoter, has offloaded 1.7 crore shares of KFin Technologies, accounting for almost 10% of the paid-up equity, via open market transactions.

These shares were sold at an average price of ₹500.5, resulting in a transaction worth ₹850.85 crore. Among the buyers were ICICI Prudential Life Insurance Company, ICICI Prudential Mutual Fund, Societe Generale, and IIFL Securities Limited.

18 Dec 2023, 11:03:29 AM IST

At 11 am the Sensex was down 4.59 points or 0.01% at 71,479.16, and the Nifty was up 4.50 points or 0.02% at 21,461.20.

18 Dec 2023, 10:50:08 AM IST

General Atlantic Singapore Fund, a foreign promoter, has offloaded 1.7 crore shares of KFin Technologies, accounting for almost 10% of the paid-up equity, via open market transactions.

These shares were sold at an average price of ₹500.5, resulting in a transaction worth ₹850.85 crore. Among the buyers were ICICI Prudential Life Insurance Company, ICICI Prudential Mutual Fund, Societe Generale, and IIFL Securities Limited.

18 Dec 2023, 10:50:08 AM IST

Bajaj Auto shares reached a 52-week high today at ₹6,486.75. Presently, the stock is showing a 2.7% increase for the day and has surged by 80.3% year-to-date.

(Refrences from Mint)

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