Equity indices, BSE Sensex and NSE Nifty50, concluded the trading session in the red, As the market closed, the Sensex dropped by 384.55 points, or 0.47 percent, settling at 81,748.57, while the Nifty ended 100.05 points lower, down by 0.40 percent, at 24,668.25.
Among the top losers on the Nifty were Titan Company, UltraTech Cement, and TCS, which faced significant declines. On the other hand, the day's gainers included Dr. Reddy's Laboratories, Axis Bank, IndusInd Bank, Bajaj Finance, and showing strength despite the overall negative sentiment.
Sector-wise, the realty index led the way with a 3 percent rise, followed by the media index, which gained 1 percent. The PSU Bank index also saw a modest uptick of 0.5 percent. However, sectors such as IT, metals, and oil & gas faced downward pressure. Investors remain cautious, however, as global and domestic uncertainties continue to impact sentiment.
Indian stock market opened in red on Monday, December 16, with Sensex erasing its 82,000 mark to hit an intraday low of 81,917.53, while Nifty 50 touched an intraday low of 24,718.85. Bank Nifty dipped by 178 points. ITC, Reliance, Cipla, L&T, and IndusInd Bank are top gainers. While Apollo Hospital, JSW Steel, BPCL, Titan and Bharti Airtel are top bears.
Nifty Media and Nifty Realty index outperformed by surging between 1% to 1.1.5%. Auto, banking, financial and metal stocks were top laggards. India's volatility index surged 5%.
On BSE and NSE, stocks such as Zinka Logistics Solutions, Reliance Industries, GMM Pfaudler, Godrej Agrovet, Aurobindo Pharma, JSW Energy, Bharat Forge, ,Jaiprakash Power Ventures, Premier Explosives, and Navin Fluorine International are likely to be in focus on Monday.
Last week, on Friday, The benchmark 30-share Sensex surged 843.16 points, or 1.04%, to close at 82,133.12, marking a robust end to the session. Meanwhile, the NSE Nifty50 advanced 219.60 points, or 0.89%, settling at 24,768.30.
Vijay Diwas 2024: December 16 is celebrated by India as Vijay Diwas to commemorate their victory in the 1971 war against the neighbouring country, Pakistan. On this day, India honours the soldiers who fought for their country and contributed to its historic win. Prime Minister Narendra Modi on Monday, honoured the sacrifices of the brave soldiers. Amidst this, defence stocks also traded broadly in green, with gains up to 10%. That being said, there is still an opportunity.
Smallcap Astra Microwave Products surged by 4.2%, while Avantel shares jumped nearly 5%. Additionally, midcap PSU Bharat Dynamics (BDL) stock soared by 2%, and private defence company Data Patterns by nearly 4.6%. Not only that, another midcap in the sector, Zen Technologies touched a new 52-week high. Additionally, Premier Explosives hit 10% upper circuit.
Dec 16, 2024, 3:02 pm IST
Sunita Tools Limited signs Business and Share Transfer agreement with Tripathi Aerotech
In a strategic and well planned move to grow its share in the Defence Aerospace and Weapons manufacturing and Diversify to manufacture and market different products to Sunita Tools Limited existing products, announces a significant Majority 55% share total cost of (Undisclosed) in cash Acquisition of a Tripathi Aerotech and Weapons Manufacturing Pvt Ltd company, A Company Where Shigna Industrial Corporation a sole proprietor co on Mr Rajeev Tripathi and Sunita Tools Limited have come together, Formalities for this acquisition will be completed in 60 days from signing the Agreement. This Acquisition of the Tripathi Aerotech and Weapons Manufacturing Pvt Ltd in turn with Shigna Industrial corporation (sales undisclosed due to confidentiality) is Sunita Tools Limited's strategic vision to expand its portfolio of products related to Aerospace, Defence and Weapons Mfg and gives us both the qualifaction as per net worth, Infrastructure and multi location manufacturing facility to take orders of Gun parts and Artillery Shell cases in Huge numbers as size of project.
Dec 16, 2024, 3:01 pm IST
Caplin Sterilizes Gets USFDA Approval For Difluprednate Ophthalmic Emulsion
Caplin Steriles Limited (Caplin), a Subsidiary Company of Caplin Point Laboratories Limited , has been granted final approval from the United States Food and Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) Difluprednate Ophthalmic Emulsion, 0.05% (Eye drops), a generic therapeutic equivalent version of the Reference Listed Drug (RLD) DUREZOL, from Sandoz Inc. “We’re pleased to receive a first cycle approval for this complex emulsion product. Few more emulsion and suspension products have been filed or in the pipeline, which should augment Caplin Steriles’ portfolio in the US and emerging markets”, commented Chairman C.C.Paarthipan. Difluprednate Ophthalmic Emulsion, 0.05% (Eye drops) is a topical corticosteroid that is indicated in the treatment of inflammation and pain associated with ocular surgery, and in the treatment of endogenous anterior uveitis. According to IQVIATM (IMS Health), Difluprednate Ophthalmic Emulsion, 0.5% had US sales of approximately million for the 12-month period ending October 2024.
Dec 16, 2024, 2:43 pm IST
Market Reverses Opening Gains, Sensex & Nifty Slip Deep In Red Amid Volatility Ahead Of US Fed Outcome
Indian equity benchmarks Sensex and Nifty faced selling pressure by midday on December 16, as losses in IT, financial services, and telecom sectors dragged the indices lower. By 12:50 pm, the Sensex was down 417 points (0.5%) at 81,715, while the Nifty declined 117 points (0.5%) to 24,650. Market breadth, however, remained positive with 2,013 stocks advancing, 1,556 declining, and 105 remaining unchanged. The India VIX, a key measure of market volatility, surged over 10% to hit 14.4.
LTIMindtree launches AI-driven Cyber Defense Resiliency Center
LTIMindtree, a global technology consulƟng and digital soluƟons company, has announced the launch of its Cyber Defense Resiliency Center (CDRC) in Bengaluru, India. With this launch, LTIMindtree will offer its global clients support and protecƟon capabiliƟes for the cyber threat lifecycle, using arƟficial intelligence (AI), specifically generaƟve AI (GenAI), and help build resilient enterprises. According to a cybersecurity briefer report by USAID, cybercrime is expected to grow over the coming years globally, with projecƟons as high as .84 trillion by 2027. Moreover, India experienced nearly 600 cases of cyberaƩacks in the first half of 2024, with the educaƟon, government and technology sectors emerging as primary targets. Clearly, there is a need to embrace cybersecurity measures to protect precious resources.
Dec 16, 2024, 1:40 pm IST
Aeroflex Industries Greenlights Rs 400 Crore Fundraise via QIP
Aeroflex Industries' board has approved a plan to raise up to Rs 400 crore through a Qualified Institutions Placement (QIP).
Dec 16, 2024, 12:53 pm IST
Aurobindo Pharma's Biosimilar Zefylti Gets EMA Nod
CuraTeQ Biologics, a subsidiary of Aurobindo Pharma, has announced that the European Medicines Agency's (EMA) Committee for Medicinal Products for Human Use (CHMP) has issued a positive opinion for Zefylti (BP13, a filgrastim biosimilar). The recommendation supports granting marketing authorization for Zefylti, which is used to treat neutropenia and mobilize peripheral progenitor cells (PBPCs).
Dec 16, 2024, 12:52 pm IST
Bharat Forge Subsidiary to Acquire 25% Stake in Italy's Edgelab
Kalyani Strategic Systems, a subsidiary of Bharat Forge, has signed a Cornerstone Investment Agreement with Italy-based Edgelab SpA. The agreement entails acquiring a 25% stake in Edgelab for €2.5 million, tied to the company's proposed initial public offering (IPO).
Dec 16, 2024, 12:01 pm IST
Bank Nifty Options Market Insights By Dhupesh Dhameja, Derivatives Analyst, SAMCO Securities
Option market presents a mixed but slightly bullish outlook. The 54,000-strike call accumulated the highest open interest at 24.75 lakh contracts, suggesting it as a key resistance level. Meanwhile, the 53,000-strike put witnessed significant additions, with open interest reaching 19.94 lakh contracts. Active positions between the 53,500–54,000 call zone and the 53,000–53,400 put zone highlight resistance at 54,000 and support near 53,000. Increased put writing between 53,000 and 53,400 signals growing bullish sentiment, while reduced call writing hints at easing bearish pressure. The put-call ratio (PCR) improved to 0.93 from 0.88, reflecting a shift toward bullish sentiment. The "max pain" level, positioned at 53,300, is expected to serve as a short-term support zone.
Options market signals a neutral to slightly bullish sentiment, with call and put writing in balance, the 25,000-strike call remains a key resistance level, with the highest open interest of 68.51 lakh contracts. On the other hand, the 24,500-strike put exhibits considerable open interest of 62.82 lakh contracts, indicating solid support. The active positions within the 24,800–25,000 call range and the 24,500–24,700 put range signify resistance near 25,000 and support around 24,500. The uptick in put writing between 24,500 and 24,700 highlights increasing bullish pressure, while the unwinding of call positions at lower strikes signals improving sentiment. The put-call ratio (PCR) rose to 0.88 from 0.78, reflecting a gradual tilt toward the bulls, although call writers still dominate higher levels. The "max pain" level at 24,600 indicates limited downside potential in the immediate term.
Dec 16, 2024, 11:03 am IST
Nifty Prediction Today By Akshay Chinchalkar, Head of Research At Axis Securities
Friday's highly volatile session saw the nifty slump during the early part of the session, but the day's low occurred exactly at the falling neckline of the bullish head-and-shoulders pattern which was activated on December 3rd with an upside objective of 25,500. This objective remains valid as long as the market stays above 23,873, but more critical support now is the Friday low of 24,180. Seasonal patterns also support a bullish view, as the nifty has risen in the second fortnight of December 80% of the time in the last decade, with an average gain of 1.1%.
Dec 16, 2024, 10:30 am IST
Stock Market Outlook Today By Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services
The excessive volatility witnessed on Friday is a reflection of the sharp differences in perceptions about the near-term market trend. The huge positions in F&O segments are causing such heightened volatility in the market. The 500 point move in the nifty from the day’s trough to the peak indicates massive short covering. While FIIs turning buyers in December, so far, after the relentless selling in the previous two months is positive, investors should not assume that the FIIs will continue to buy. Strong dollar and high bond yields in the US are headwinds for capital flows. Slowdown in GDP growth and stagnant earnings growth are hurdles in the path of the bull. A rally will sustain only if the data regarding growth and earnings show recovery. This will take some time.
Dec 16, 2024, 10:11 am IST
Nifty Outlook Today By Rajesh Bhosale Technical Analyst- Angel One
On the daily chart, prices have closed near the 50% retracement of the entire decline from the all-time high of 26277 to 23263. Given the momentum, we anticipate that prices could continue their upward move next week, potentially testing 25000 and the 61.8% retracement around 25125 - 25200. On the downside, 24650 - 24600 should act as immediate support, with any dips likely to attract buying interest. The critical support level on a closing basis remains at 24500. While the markets have seen a solid recovery from recent lows, the ongoing "Santa Rally" could present stock-specific opportunities. It’s crucial to stay focused on identifying the next performing theme for potential gains during this period.
Dec 16, 2024, 9:32 am IST
Sensex, Nifty In Red
In the opening bell, Sensex erased 82,000 mark to hit an intraday low of 81,917.53, while Nifty 50 touched an intraday low of 24,718.85. Media and realty stocks outperformed, while Auto, banking, financial and metal stocks were top laggards. India's volatility index surged 5%. Check out latest price of Sensex and Nifty:
Dec 16, 2024, 9:29 am IST
MarKet Live Updates: Gainers and Losers
ITC, Reliance, Cipla, L&T, and IndusInd Bank are top gainers. While Apollo Hospital, JSW Steel, BPCL, Titan and Bharti Airtel are top bears.
Dec 16, 2024, 9:23 am IST
Forex Market Live Updates: Rupee Under Pressure
Indian rupee came under pressure in the early trade of forex market on December 16. This is owing to consistent capital outflows, surge in treasury yields, and lack of upside surprises in the currency. Further, China's large-scale policy changes to support the economy and stocks next year, further added to woes. Dollar continued to hold its highest levels in three weeks.
Dec 16, 2024, 8:52 am IST
Market Live Updates: Stocks To Trend On December 16
Prashanth Tapse, Senior VP (Research), Mehta Equities: Friday’s session saw Nifty bulls regroup and recover from panic losses, with bargain hunting and value buying driving gains, led by Bharti Airtel’s 4.44% surge. As we approach Monday, despite signs of a gap-down opening, market sentiment remains positive, supported by expectations of a 25bps Federal Reserve rate cut this week, FIIs turning net buyers with Rs 11,707 crore in December, and India VIX slipping to 13.05. We foresee potential for a Santa rally, positioning corrections as opportunities for value investors, with bullish targets for Nifty, Bank Nifty, and select stocks like Godrej Properties.
Dec 16, 2024, 8:45 am IST
Stocks Live Updates: BSE BANKEX Technical Outlook For Today
Prabhudas Lilladher: Bankex is hovering in the range of 1000 points, and with support of the 50 EMA level of 59338, it has given a strong rally towards the 61000 zone, which has improved the bias, and with a gradual rise, it is slowly and steadily strengthening the trend, expecting further upward moves with targets of 62000 levels anticipated.
Dec 16, 2024, 8:45 am IST
Market Live Updates: Bank Nifty Outlook For December 16
Prabhudas Lilladher: BankNifty, has once again indicated a higher low formation pattern, taking support near the 52100 zone on the daily chart to improve the bias, anticipating further rise for targets of 54500 and 55000 levels. The overall trend is maintained strong till the 52000 zone is sustained, expecting further gains.
Dec 16, 2024, 8:45 am IST
Market Live Updates: Technical Outlook Of Sensex On Monday
Prabhudas Lilladher: Sensex is witnessing a rally and has closed above the important resistance zone of 81750 levels with bias and sentiment maintained positive anticipating for further rise in the coming days. The near-term target of 83500- 84000 levels can be expected with 50 EMA level at 80500 maintained as the good support level as of now.
Dec 16, 2024, 8:43 am IST
Stock Market Latest Updates: Nifty Outlook For December 16
Prabhudas Lilladher: Nifty has been finding resistance near the 24850 zone and was subjected to some profit booking, plunging down till the 24180 zone but witnessing some fast recovery to erase some of the losses to end above the 100DMA in the 24700 zone. The index would have the important support zone near the 50EMA of 24400 levels, which needs to be sustained, as mentioned earlier, to maintain the overall bias positive
Dec 16, 2024, 8:39 am IST
Market Live Updates: What Will Influence Market This Week
Vinod Nair, Head of Research, Geojit Financial Services: A gradual recovery in IIP and core sector data is pointing towards a better H2 earnings performance compared to subdued H1 FY25. Currently, it is believed that FII selling has subsided, at least in the short to medium term, which will add further impetus to the sentiment. The Nifty IT index reached a new high and rallied around 3% during the week after US inflation data met expectations, boosting hopes for a Fed rate cut next week. For the week ahead we expect bottom fishing strategy to continue. While investors will also consider the US FED, BOE & BoJ monetary policy and US GDP data for further direction.
Dec 16, 2024, 8:38 am IST
Stock Market Live Updates: Trading Strategy For The Week
Vinod Nair, Head of Research, Geojit Financial Services: A rebound from the lows suggests that the buy-on-dips strategy is working well in the market. With inflation coming within the RBI's tolerance level and an expectation of further ease in food prices on account of seasonal corrections in vegetable prices, it could build up the expectation for ease in monetary policy in February.
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