Stock Markets Witness Persistent Decline
The downward trend in the stock markets continued yesterday, with the Nifty 50 opening below its previous day’s closing point and remaining in negative territory throughout the trading day.
Table of Contents
Key Factors Influencing Market Movement
The drag on the markets was primarily attributed to the decline in IT and metal stocks. However, there was a silver lining as the realty and PSU bank sectors managed to defy the trend, posting gains of over 1%.
Global Market Performance
It wasn’t just the Indian markets facing the heat. All other Asian markets, excluding China’s Shanghai, experienced declines. Most European markets also closed in the red, indicating a broader global downturn in investor sentiment.
Winners and Losers on the Nifty 50
Top Gainers
- Bajaj Auto: Rs 6,986.50, ▲ 4.82%
- Adani Enterprises: Rs 3,003.00, ▲ 2.41%
- IndusInd Bank: Rs 1,601.15, ▲ 1.62%
- Adani Ports: Rs 1,094.25, ▲ 1.47%
- ITC: Rs 477.25, ▲ 1.47%
Top Losers
- Hindalco: Rs 593.05, ▼ 3.88%
- JSW Steel: Rs 837.65, ▼ 3.74%
- Tata Steel: Rs 135.35, ▼ 3.04%
- LTIMindtree: Rs 5,961.05, ▼ 2.98%
- Infosys: Rs 1,490.00, ▼ 2.89%
Market Insights
Manufacturing Activity and Economic Indicators
India’s manufacturing activity growth stood at 54.9 in December, a slight dip from 56 in November, according to the S&P Global measurement. Despite this, a figure above 50 indicates growth, with the current level being the lowest in the last 18 months.
Video Market Projections
The Asia Pacific Video & Broadband Industry 2024 report suggests that India’s video market is expected to reach $17 billion by 2028, up from $13 billion in 2023.
Stocks in Focus
Recent Developments and Corporate Actions
- RVNL: Awarded a redevelopment project at Varkala Sivagiri railway station with an order value of Rs 123 crore.
- Gensol Engineering: Secured a solar power project in Chhattisgarh worth Rs 139 crore.
- Bajaj Auto: Board to consider a proposal for a buyback next week.
- ONGC: Venezuela to provide oil to its subsidiary ONGC Videsh, aiding in recovering a $600 million outstanding dividend.
- Dr. Reddy’s: Acquired the complete MenoLabs supplements portfolio.
- SBI: Plans to secure a syndicated loan of up to $1 billion through its GIFT City branch.
- Shyam Metalics: Initiates a qualified institutional placement (QIP) to raise up to Rs 3,600 crore.
- CEAT: Faces GST demands and penalties exceeding Rs 19 crore by tax authorities in Maharashtra and Vadodara.
- Adani Ports: Board approves raising funds of up to Rs 5,000 crore through the public issuance of non-convertible debentures (NCDs).
Commodity and Currency Update
1 Day Change
- Gold: ₹62,740, ▼ 0.97%
- Silver: ₹73,000, ▼ 1.99%
- USD-INR: ₹83.30/USD, ▼ 0.04%
- Dow Jones: 37,715.04, ▲ 0.07%
- Nasdaq: 14,765.94, ▼ 1.63%
Long-Term Returns
Past 20 Years
- Sensex (India): ▲ 13.14% p.a.
- Nifty (India): ▲ 12.74% p.a.
- Dow Jones (USA): ▲ 6.65% p.a.
- Nasdaq (USA): ▲ 10.66% p.a.
The markets remain dynamic, reacting to a mix of global and domestic factors, providing investors with both challenges and opportunities in this ever-evolving landscape.
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