The key equity benchmarks conitnued to trade with limited losses in a narrow range in the early afternoon trade. The Nifty hovered below the 23,650 mark. Pharma, oil & gas and healthcare stocks advanced while IT, realty and bank shares corrected.
At 13:30 IST, the barometer index, the S&P BSE Sensex, dropped 168.35 points or 0.22% to 78,079.78. The Nifty 50 index fell 25.65 points or 0.11% to 23,619.25.
In the broader market, the S&P BSE Mid-Cap index fell 0.04% and the S&P BSE Small-Cap index advanced 0.27%.
The market breadth was negative. On the BSE, 1,949 shares rose and 1,915 shares fell. A total of 141 shares were unchanged.
Gainers & Losers
Kotak Mahindra Bank (up 2.83%), ONGC (up 2.49%), BEL (up 2.39%), State Bank of India (up 1.09%) and Dr. Reddy's Laboratories (up 1.02%) were major Nifty gainers.
Adani Enterprises (down 2.81%), Tech Mahindra (down 2.41%), TCS (down 2.05%), Infosys (down 1.53%) and Grasim Industries (down 1.04%) were major Nifty losers.
Stocks in Spotlight:
Shares of Adani Wilmar slipped 6.77% while Adani Enterprises (AEL) declined 2.81% after AEL informed that it has signed an agreement with Wilmar International to exit from the joint venture (JV), Adani Wilmar.
Adani Enterprises, Adani Commodities LLP (a wholly-owned subsidiary of AEL) and Lence Pte. (a wholly owned subsidiary of Wilmar International) have entered into an agreement on 30 December 2024, under which Lence will acquire all the paid-up equity shares of Adani Wilmar (AWL) held by ACL as at the date of exercise of the call option or put option, as the case maybe, in respect of a maximum of 31.06% of the existing paid up equity share capital of AWL.
Rail Vikas Nigam (RVNL) gained 4.40% after the company emerged as 'lowest bidder' (L1) from East Coast Railway for Koraput-Singapur road doubling project worth Rs 404.40 crore. Further, it has also emerged as lowest bidder (L1) from Central Railway for designing and supplying traction system in Bhusaval- Khandawa sections of Central Railway worth Rs 137.16 crore.
Mazagon Dock Shipbuilders declined 1.42%. The company signed a contract worth Rs 1,990 crore with Ministry of Defence for construction of air independent propulsion plug for DRDO AIP system & its integration into conventional submarines to enhance their endurance.
Jubilant Ingrevia rose 1.91%. The company's subsidiary, Jubilant Infrastructure (JIL) plans to acquire 6.67% stake in Forum I Aviation Private (FAPL) from Hero Fincorp & Sunil Kant Munjal. Post acquisition, JIL will hold 15.79% equity shares in FAPL.
Shriram Properties advanced 3.27% after the company announced strategic sale of around 3.9 acre land parcel in Chennai to a large healthcare and educational group in South India.
Global Markets:
European stocks tumbled while Asian shares traded mixed on the final trading day of the year.
China's manufacturing Purchasing Managers' Index (PMI) dipped to 50.1 in December, according to the National Bureau of Statistics, slightly below the 50.3 recorded in November.
South Korea's consumer inflation accelerated in December, rising 1.9% year on year. CPI came in at 1.5% in November. On a month-on-month basis prices rose 0.4%.
US stocks concluded Monday with losses, signaling a subdued end to a year of robust performance on Wall Street. The S&P 500 declined 1.1%, the Dow Jones Industrial Average shed 1%, and the NASDAQ Composite fell 1.2%.
Boeing shares fell more than 2% after a devastating air accident in South Korea claimed the lives of 179 people on Sunday when a passenger plane crash-landed at Muan International Airport.
Later this week, investors will closely examine the Institute for Supply Management's manufacturing activity survey for December and the weekly report on jobless claims. These data points will precede the crucial.
Powered by Capital Market - Live News