Indian stock market 2024 interim budget

Stock Market Daily Updates

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Stock Market Overview (Date): Oil & Gas and FMCG Stocks Surge, IT and Consumer Durables in the Red

In yesterday’s stock market report, the spotlight shines on the dynamic movements across various sectors. Oil & gas and FMCG sector stocks took the lead with significant gains, while IT and consumer durables stocks faced a downturn. Additionally, we explore the performance of Asian and international markets.

Global Market Recap

  • All Asian markets, excluding Japan, closed positively, reflecting a region-wide uptick.
  • US markets experienced a rise, contrasting the situation in European markets, which all closed in the red.

Top Gainers on NIFTY 50

The NIFTY 50 index showcased impressive performers today:

  1. Coal India (Rs 380.95): Surged by 4.20%
  2. M&M (Rs 1,734.45): Climbed by 2.75%
  3. Hero Moto (Rs 4,173.25): Advanced by 2.68%
  4. NTPC (Rs 313.90): Registered a gain of 2.56%
  5. Dr Reddy’s (Rs 5,858.55): Saw an increase of 2.52%

Top Losers on NIFTY 50

  1. Adani Enterprises (Rs 2,809.90): Decreased by 1.18%
  2. L&T (Rs 3,518.05): Dipped by 0.73%
  3. Adani Ports (Rs 1,016.95): Declined by 0.73%
  4. Eicher Motors (Rs 4,091.90): Witnessed a drop of 0.68%
  5. LTIMindtree (Rs 6,253.15): Slipped by 0.54%

Key Economic Indicators

  1. Engineering Goods Exports: India saw a 1.81% decrease in engineering goods exports from April to November, totaling $69.46 billion.
  2. Coal Production: Coal production recorded a notable increase of 12.29% from April to December, reaching 664.37 million tonnes.
  3. Foreign Investment: Foxconn invested $55.29 million in Bengaluru-based Foxconn Precision Engineering Private Ltd.

Real Estate Insights

According to Knight Frank India, the top three affordable residential markets in 2023 among major Indian cities are Ahmedabad, Kolkata, and Pune.

Agricultural Update

The Minimum Support Price (MSP) for copra is set to increase by Rs 300 per quintal.

Stocks in the News

  1. L&T: Secured orders ranging from Rs 2,500 crore to Rs 5,000 crore for its power and distribution segment in the Middle East.
  2. Zomato: Faces a Rs 402 crore tax notice.
  3. Bata India: Receives a Rs 60.56 crore tax notice.
  4. PTC Industries: Collaborates with Nasmyth (UK) to provide solutions to customers in the defense and aerospace sectors.
  5. Oil India: Makes the second instalment of Rs 551 crore to Numaligarh Refinery against a rights issue.

Corporate Developments

  1. Sula Vineyards: Announces that over 12,000 visitors explored its Nashik and Bengaluru wine tourism facilities from 23-25 Dec.
  2. Inox Wind: Receives approval from BSE and NSE for the proposed merger scheme between Inox Wind Energy and Inox Wind.
  3. KEC International: Bags new orders worth Rs 1,566 crore across various businesses.

IPO Corner

Azad Engineering: Witnesses a listing premium of 37.4%.

Precious Metals and Currency Updates

  1. Gold (1 Day Change): ₹63,400, ▲ 0.07%
  2. Silver (1 Day Change): ₹75,364, ▲ 0.49%
  3. USD-INR Exchange Rate: ₹83.19/USD, ▼ 0.21%
  4. Dow Jones: 37,656.52, ▲ 0.30%
  5. Nasdaq: 15,099.18, ▲ 0.16%

Long-Term Returns

Over the past 20 years:

  • Sensex (India): ▲ 13.43% p.a.
  • Nifty (India): ▲ 13.28% p.a.
  • Dow Jones (US): ▲ 6.67% p.a.
  • Nasdaq (US): ▲ 10.99% p.a.

Yesterdays market dynamics showcase a mixed bag of gains and losses across sectors and international markets, providing investors with valuable insights for strategic decision-making.

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