Stock Market Daily Updates

Stock Market Overview: Nifty 50 Opens Strong, Experiences Late-Day Dip, and Recovers

The Nifty 50 started the day on a positive note, opening above yesterday’s closing level. However, as the day progressed, the markets faced a downward trend. Interestingly, the markets rebounded, leading to a positive closure for Nifty 50.

Sectoral Performance: IT Soars, Healthcare Declines

In terms of sectoral performance, IT stocks exhibited significant gains, emerging as the top performers. On the flip side, healthcare stocks experienced a decline, marking them as the top losers for the day.

Global Market Snapshot: Mixed Bag in Asia and Europe

While all other Asian markets, excluding Japan, closed in the red, the scenario was no different in Europe, where all markets witnessed a fall.

Top Gainers and Losers in NIFTY 50

Top Gainers:

1. Adani Ports: Rs 1,154.25, ▲ 2.76%
2. TCS: Rs 3,737.90, ▲ 1.94%
3. L&T: Rs 3,521.90, ▲ 1.83%
4. SBI Life: Rs 1,454.15, ▲ 1.58%
5. LTIMindtree: Rs 5,947.65, ▲ 1.39%

Top Losers:

1. Nestle: Rs 2,666.40, ▼ 1.67%
2. Britannia: Rs 5,272.35, ▼ 1.66%
3. UPL: Rs 581.25, ▼ 1.09%
4. Sun Pharma: Rs 1,300.20, ▼ 0.97%
5. JSW Steel: Rs 829.40, ▼ 0.92%

Economic Indicators: Positive GDP Growth and Increased Forex Reserves

Advance estimates from the National Statistical Office (NSO) suggest that India is expected to achieve a robust 7.3% GDP growth in the current financial year. Additionally, India’s foreign exchange reserves recorded a notable increase by $2.759 billion, reaching $623.200 billion for the week ending 29 Dec.

Stocks in the Spotlight

Several stocks made headlines on the trading day:

1. Suzlon: Secured a new wind energy order of 225 MW from Everrenew Energy.
2. GAIL: Entered into an agreement with Dutch energy trader Vitol to purchase around 1 million tonnes of liquefied natural gas per annum for a duration of 10 years, starting in 2026.
3. Kaveri Seed: Authorized a share buyback of Rs 325 crore through a tender offer at a fixed price of Rs 725 per share.
4. Lupin: Received tentative approval from the USFDA to market a generic diabetes medication.
5. Vodafone-Idea (Vi): Received a tax penalty order of Rs 10.76 crore.

Currency and Commodity Market Movement

1. Gold: ₹62,488, ▼ 0.30%
2. Silver: ₹72,250, ▼ 0.00%
3. USD-INR Exchange Rate: ₹83.17/USD, ▼ 0.10%
4. Dow Jones: 37,440.34, ▲ 0.03%
5. Nasdaq: 14,510.30, ▼ 0.56%

Long-Term Returns: A Historical Perspective

Over the past 20 years, the long-term returns for key indices are as follows:

• Sensex (India): ▲ 13.20% p.a.
• Nifty (India): ▲ 12.79% p.a.
• Dow Jones (USA): ▲ 6.54% p.a.
• Nasdaq (USA): ▲ 10.29% p.a.

In conclusion, the day witnessed a roller-coaster ride for the markets, with Nifty 50 showcasing resilience despite the late-day dip. Investors are closely watching the global economic landscape and key developments in various sectors for potential opportunities and risks.

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