Stock Market LIVE Updates: GIFT Nifty shows strong start for India after Mahayuti win in Maharashtra

On Friday, the benchmark equity indices BSE Sensex and Nifty 50 had ended on a positive note, rising over 2 per cent each, fuelled by buying across sectors. The BSE Sensex jumped as much as 1,961.32 points or 2.54 per cent to settle at 79,117.11, while the Nifty 50 closed higher by 557.35 points or 2.39 per cent at 23,907.25.  

Among the broader markets, the Nifty Smallcap 100 and Nifty Midcap 100 indices ended higher by 0.90 per cent and 1.16 per cent, respectively.  

All the sectoral indices also ended in the green, barring the Nifty Media Index, which closed down by 0.32 per cent. Notably, the Nifty IT index outperformed other sectoral indices, ending 3.29 per cent higher. This was followed by Nifty Realty index, which also ended higher, rising by over 3 per cent.

Among others, the Nifty FMCG, Nifty PSU Bank, and Nifty OMCs, each rose by over 2 per cent on Friday.

However, Andrew Holland, chief executive officer at Avendus Capital Public Markets Alternate Strategies, had a word of caution for investors. According to him, tepid earnings growth in the September 2024-25 quarter, amid sticky inflation, withdrawals by foreign investors, and global headwinds, has diminished the appeal of Indian markets. In that backdrop, fund flows — especially passive — will favour the US and developed markets over emerging markets (EMs). READ MORE

In another news, the majority of initial public offerings (IPOs) in recent months have fallen into the red. Of the 25 firms that listed on the mainboard since September, 15 are now trading below their issue price, with 10 of them down by 10 per cent or more. READ MORE

  Separately, with a view to promote direct listing in Gujarat International Finance Tec-City (GIFT City), several market participants have recommended to the International Financial Services Centres Authority (IFSCA) and the government that domestic mutual funds (MFs) be allowed to invest in companies pursuing this route, sources said. READ MORE

  Meanwhile, markets in the Asia-Pacific region mostly rose on Monday morning.

  Australia’s S&P/ASX 200 rose 0.7 per cent to 8,452.7, while Japan’s Nikkei 225 was 1.61 per cent up, and the broad-based Topix was ahead by 1.07 per cent.

  South Korea’s Kospi gained 1.45 per cent, and the small-cap Kosdaq saw a larger rise of 2.36 per cent.

  Hong Kong’s Hang Seng index rose 0.31 per cent, while mainland China’s CSI 300 was flat with a negative bias. The Shanghai Composite was 0.21 per cent higher.

  That apart, global stocks registered a strong weekly gain on Friday while US Treasury yields slipped as markets eyed President-elect Donald Trump’s likely policies and their impact on the US economy, even as bitcoin traded near the $100,000 threshold.

  Traders are bracing for Trump’s agenda after he takes office in January, which is expected to include tariffs, tax cuts and deregulation. Trump has been nominating senior officials in his administration, and markets are awaiting his pick for Treasury secretary.

  All three Wall Street indices finished higher and each notched a weekly gain. The Dow Jones Industrial Average rose 0.97 per  cent to 44,296.51, the S&P 500 rose 0.35 per cent to 5,969.34 and the Nasdaq Composite rose 0.16 per cent to 19,003.65.

  Europe’s Stoxx 600 share index ended the week 1 per cent higher, snapping four straight weeks of losses. MSCI’s gauge of stocks across the globe rose 0.33 per cent to 854.22 and gained about 1.4 per cent for the week.

  The yield on benchmark US 10-year notes fell 1.4 basis points to 4.418 per cent, as markets reassess future rate cuts from the Federal Reserve given expectations that some of Trump’s policies could be inflationary. The market is now pricing in a 53 per cent probability the Fed will cut rates by 25 basis points in December.

  Bets that Trump’s administration will take a lighter-touch approach to regulation also propelled bitcoin to the brink of $100,000 for the first time. The world’s largest cryptocurrency gained 1.33 per cent to $99,384.00. Ethereum declined 1.59 per cent to $3,295.40.

  The euro fell to a two-year low while the dollar gained after gauges of business activity were released in each region. A gauge of the US manufacturing sector compiled by S&P Global increased to 55.3 this month, the highest level since April 2022. A similar gauge for the euro zone sank to a 10-month low of 48.1 in November.

  The dollar index, which measures the greenback against a basket of currencies, rose 0.43 per cent to 107.52.

  Oil prices climbed about 1 per cent, settling at a two-week high, driven by the intensifying Russia-Ukraine conflict. Brent futures rose 1.3 per cent to settle at $75.17 a barrel. US West Texas Intermediate (WTI) crude rose 1.6 per cent to settle at $71.24.

  Gold prices breached the $2,700 threshold for the first time in two weeks, on track for their biggest weekly gain in over a year. Spot gold rose 1.37 per cent to $2,706.39 an ounce. US gold futures settled 1.4 per cent higher at $2,712.20.

(With inputs from Reuters.)

Stock Market LIVE Updates: Shares of paint maker Akzo Nobel India surged 3.95 per cent to a day’s high of Rs 3,747 on the National Stock Exchange (NSE) during intraday trade on Monday. The rise in the company’s stock price followed news of its plan to sell a part of its non-performing immovable properties.

In an exchange filing on Friday, November 22, 2024, Akzo Nobel India stated, “The Board has approved a proposal to monetise the company’s immovable property/ies through sale, as they have limited or non-productive use for business operations.” READ MORE

Stock Market LIVE Updates: India’s Adani Group said it has enough cash flows to service debt obligations, as it sought to reassure creditors after a US bribery probe against founder Gautam Adani triggered a selloff in the conglomerate’s stocks and bonds.

Cash balances exceed long-term debt repayments for the next 28 months, while portfolio level cash balances were at $6.33 billion, the port-to-power conglomerate said in a report for the first six months of the financial year ending March 2025 released Monday. READ MORE

Stock Market LIVE Updates: S&P Global Ratings on Monday revised down its estimate for India’s economic growth in the next two financial years as high interest rate and lower fiscal impulse temper urban demand.

In an update to its economic forecast for Asia-Pacific economies after US election results, the rating agency projected a 6.7 per cent GDP growth rate in 2025-26 financial year (April 2025 to March 2026) and 6.8 per cent in the following fiscal year, down from 6.9 per cent and 7 per cent, respectively in previous projections.

For FY25, S&P Global pegged GDP growth rate at 6.8 per cent. READ MORE

Stock Market LIVE Updates: Marine Electricals (India) today informed that it has bagged orders worth Rs 12.93 crore, from Cochin Shipyard, apart from Adani Group company Kutch Copper Tubes Limited. 

The company, in an exchange filing, said, “We are pleased to inform you that Marine Electricals (India) Limited has received order amounting to Rs. 12.93Cr (Excluding Taxes), the details of the same is mentioned as under:- 1. Order received from Cochin Shipyard Limited, for supply of Base & Depot Spares for ASW & SWC Project. The Delivery shall be over a period of 8 Months. 2. Order received from Kutch Copper Tubes Limited (Adani Group), for supply of LT Panel for Mundra Site Project. The Delivery shall be over a period of 4 Months.”

Stock Market LIVE Updates: Vedanta Resources Ltd. is going ahead with its second dollar bond offering in two months, testing investor appetite for Indian offshore debt just days after the US indictment of Adani Group founder Gautam Adani.

A unit of Vedanta, a London-based mining company with most of its operations in India, is selling a callable note, according to people familiar with the matter who asked not to be identified. READ MORE

Stock Market LIVE Updates: Benchmark Indian equity indices BSE Sensex and Nifty 50, having climbed off their day’s highs, were trading in the green.

Stock Market LIVE Updates: UPL today announced that it has signed a a strategic partnership agreement with CH4 Global, with the aim to bring CH4’s methane-reducing feed supplement to millions of cattle per day.

Stock Market LIVE Updates: Shares of state owned National Fertilizers jumped up to 6.1 per cent to hit an intraday high of Rs 114.95 a piece on Monday after the fertiliser manufacturer announced its planned forays in nano urea by launching its latest and ultra effective variant using nano technology at its Nangal plant. 

Stock Market LIVE Updates: IFCI Ltd shares gained 14.7 per cent in Monday’s trade and logged an intraday high of Rs 66.59 per share on BSE. The counter saw buying after the company’s board approved the consolidation of IFCI Group companies.

Stock Market LIVE Updates: Pharmaceutical major Aurobindo Pharma shares increased up to 2.63 per cent to hit an intraday high of Rs 1,255.90 per share on Monday, November 25, 2024. 

The rise in Aurobindo Pharma share price came after the company announced that its US-based wholly-owned subsidiary, Aurobindo Pharma USA Inc., has entered into a Collaboration and Licence Agreement on November 22, 2024, with a global pharma major for development of specific products across respiratory therapeutic area and their commercialisation. READ MORE

Stock Market LIVE Updates: Benchmark Indian equity indices BSE Sensex and Nifty 50, having climbed off their day’s highs, were trading in the green.

Stock Market LIVE Updates: VST Industries shares rose 5.3  per cent in trade and logged an intraday high of Rs 304 per share on BSE. The scrip rallied after the company sold 2.7 acres of land situated in Hyderabad for Rs 101.7 crore. READ MORE