Market Commentary     17-Dec-24
Mid-Session
Benchmarks trade with deep cuts; financial services shares decline
The key equity indices continued to extend losses in the morning trade. The Nifty slipped below the 24,450 mark. Financial services shares extended losses for the second consecutive trading session.

At 10:29 IST, the barometer index, the S&P BSE Sensex, dropped 763.27 points or 0.93% to 80,971.27. The Nifty 50 index slipped 229.75 points or 0.93% to 24,438.50.

The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index shed 0.08% and the S&P BSE Small-Cap index fell 0.12%.

The market breadth was negative. On the BSE, 1,690 shares rose and 1,980 shares fell. A total of 153 shares were unchanged.

Economy

India’s total exports (Merchandise and Services combined) for November 2024 are estimated at USD 67.79 Billion, registering a positive growth of 9.59 percent vis-à-vis November 2023. Total imports (Merchandise and Services combined) for November 2024 are estimated at USD 87.63 Billion, registering a positive growth of 27.47 percent vis-à-vis November 2023.

Buzzing Index:

The Nifty Financial Services index slipped 0.72% to 24,679. The index shed 0.80% in two consecutive trading sessions.

Shriram Finance (down 3.13%), Cholamandalam Investment & Finance Company (down 2.31%), Bajaj Finserv (down 1.88%), LIC Housing Finance (down 1.48%), HDFC Asset Management Company (down 1.45%), ICICI Lombard General Insurance Company (down 1.14%), SBI Cards & Payment Services (down 0.97%), Kotak Mahindra Bank (down 0.97%), HDFC Bank (down 0.92%) and Muthoot Finance (down 0.89%) declined.

On the other hand, REC (up 0.72%), Power Finance Corporation (up 0.64%) and Multi Commodity Exchange of India (up 0.11%) edged higher.

Stocks in Spotlight:

Rail Vikas Nigam (RNVL) added 0.52%. The company announced that it has received letter of acceptance (LoA) worth Rs 270.78 crore from Maharashtra Metro Rail Corporation for the construction of ten elevated metro stations.

Texmaco Rail and Engineering rose 1.68% after the company has received an order from Chhattisgarh State Power Transmission, Government of Chhattisgarh for construction of transmission lines on turnkey basis valuing Rs 187.41 crore approximately.

Mankind Pharma gained 0.49%. The company informed that its board has approved the opening of issue of qualified institutional placement (QIP) of equity shares with the floor price of Rs 2,616.55 per equity share.

Previous News
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 ( Corporate News - 15-Jul-25   10:48 )
  RailTel Corp gains on securing Rs 264-crore Kavach system order
 ( Hot Pursuit - 15-Jul-25   10:05 )
  RVNL edges higher after securing Rs 447 crore contract from Delhi Metro
 ( Hot Pursuit - 15-Jul-25   09:31 )
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 ( Corporate News - 15-Jul-25   09:08 )
  Mankind Pharma Ltd spurts 2.92%, gains for five straight sessions
 ( Hot Pursuit - 14-Jul-25   13:00 )
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 ( Market Commentary - Stock Alert 07-Jul-25   08:01 )
  Rail Vikas Nigam secures work order of Rs 143 cr from Southern Railway
 ( Corporate News - 05-Jul-25   14:50 )
  RVNL bags Rs 143 cr LoA from Southern Railway for traction system upgrade in Tamil Nadu
 ( Hot Pursuit - 05-Jul-25   13:27 )
  Texmaco Rail secures Rs 36-cr wagon order from TCI
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  Mankind Pharma AGM scheduled
 ( Corporate News - 04-Jul-25   16:31 )
Other Stories
  Sensex tanks 586 pts; financial services shares under pressure
  18-Jul-25   12:34
  Indices trade lower; pharma shares under pressure
  18-Jul-25   11:33
  Nifty slips below 25,000 level; private bank shares drop
  18-Jul-25   10:41
  Barometers edge lower in early trade; breadth strong
  18-Jul-25   09:35
  Barometers trade with modest losses; private bank shares drop
  17-Jul-25   14:34
  Sensex, Nifty trade in negative terrain; European mrkt advance
  17-Jul-25   13:37
  Sensex drops 133 pts; PSU bank shares slides
  17-Jul-25   12:33
  Nifty trades below 25,200 level; realty shares surge
  17-Jul-25   11:34
  Benchmarks trade lower; IT shares drop
  17-Jul-25   10:38
  Indices edge higher in early trade; breadth strong
  17-Jul-25   09:32
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