Stock Market Today
The Indian stock market had a tough day on Tuesday, December 9, with the Sensex and Nifty 50 falling for the second day in a row. This was mainly due to weak signals from around the world, especially with the US Federal Reserve's policy announcement coming up.
The Sensex lost 436 points, or 0.51%, to close at 84,666.28, while the Nifty 50 dropped 121 points, or 0.47%, to finish at 25,839.65. On the other hand, mid-cap and small-cap indices did better, with the BSE Midcap index rising 0.60% and the Smallcap index jumping 1.27%.
Market Analysis
According to Ajit Mishra, SVP, Research, Religare Broking Ltd, the market was volatile due to mixed signals and ended up losing nearly 0.5%. The recovery in some heavyweights across sectors helped the market bounce back a bit, but overall, the sentiment remained fragile due to global concerns and the upcoming US Fed policy announcement.
Key Sectors: Realty and energy sectors did well, while IT and auto sectors struggled. The rebound in mid-cap and small-cap indices was a positive sign after their recent sharp decline.
Stocks to Watch
- Swiggy: The food delivery company launched a ₹10,000-crore QIP, offering shares at an indicative floor price of ₹371 each, which is 6.8% lower than the last closing price.
- Tata Power: The company activated the 400 kV Koteshwar–Rishikesh transmission line, which will help transfer 1,000 MW of hydropower to northern states and union territories.
- IndiGo: The airline has been directed to reduce its scheduled flights by 10% after cancelling over 2,000 flights last week due to inadequate pilot roster planning.
- Pine Labs: The company's subsidiary Setu introduced India's first agentic bill-payment service on AI platforms ChatGPT and Claude, allowing automated bill retrieval and payments.
- Zydus Lifesciences: The company formed a strategic alliance with Formycon AG to exclusively license and supply a biosimilar of Keytruda in the US and Canadian markets.
- Ola Electric: The company is the only one under the battery production PLI scheme to have set up operational capacity so far, according to the union heavy industries minister.
- HUDCO: The company will convene a Bond Allotment Committee on December 12 to approve the issue and allocation of unsecured, taxable, redeemable NCDs totalling up to ₹2,500 crore.
- Highway Infrastructure: The company obtained a ₹328.78 crore Letter of Award from NHAI to manage and collect tolls at the Kaza Fee Plaza on the Chilakaluripet–Vijayawada stretch of NH-16.
- JSW Energy: The company received a ₹328.78 crore Letter of Award from NHAI to operate and collect tolls at the Kaza Fee Plaza on the Chilakaluripet–Vijayawada section of NH-16.
- Graphite India: The company entered into an exclusive agreement with Spain's Kivoro to distribute its graphene-based Heat Transfer Additive in the Indian market.
Please consult with an investment advisor before making any investment decisions.