Sensex Today Ends 170 Points Lower | SBI & ONGC Top Losers | Vodafone Idea Zooms 20%

Fri, 29 Dec Closing

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After opening the day lower, Indian share markets continued the downtrend as the session progressed and ended the day lower.

Indian benchmark indices Sensex and Nifty hit fresh all-time highs on Thursday ahead of the monthly F&O expiry amid firm cues from the global markets.

Nifty50 topped the 21,700 mark for the first time while Sensex was around the 72,300 mark. Barring media & realty, buying action was visible in most sectoral indices.

At the closing bell, the BSE Sensex stood down by 170 points (down 0.2%).

Meanwhile, the NSE Nifty closed lower by 47 points (down 0.%).

Tata Motors, Bajaj Auto and Eicher Motors were among the top gainers today.

SBI, ONGC and BPCL on the other hand, were among the top losers today.

The GIFT Nifty was trading at 21,856, down by 108 points, at the time of writing.

Broader markets ended on positive note. The BSE MidCap index ended 0.9% higher and BSE SmallCap index ended higher by 0.7%.

Sectoral indices ended mixed with stocks in the telecom sector, auto sector and FMCG sector witnessing most of the buying. Meanwhile stocks in oil &gas sector, banking sector and energy sector witness selling.

Shares of MRF, Nestle and Bajaj Auto hit their respective 52-week highs today.

Now track the biggest movers of the stock market using stocks to watch today section. This should help you keep updated with the latest developments...

Asian share markets ended mixed. The Shanghai Composite ended 0.7% higher, while the Nikkei index ended 0.2% lower. Meanwhile Hang Seng ended flat

The rupee is trading at 83.2 against the US$.

Gold prices for the latest contract on MCX are trading 0.3% lower at Rs 63,191 per 10 grams.

Meanwhile, silver prices are trading 1.3% lower at Rs 73,980 per 1 kg.

Speaking of stock markets, next time when some of you visit a liquor store, chances are you will be surprised with a Coca Cola brand sitting next to the familiar names.

You see, Coca Cola is launching its ready to drink alcoholic beverage in the domestic market.

If it does well, this could just be the beginning with more alcoholic products like ready to drink pre mixed cocktails in the offing.

It's too soon to say what that will mean for Indian incumbents in the alcohol industry. I don't think it will be negative.

More Indians, including women, are raising glasses. Considering India's population, favourable demographics, life style changes, mass urbanisation and premiumisation, and keeping the moral overtones aside, liquor industry in India is set to grow.

Hidden Treasure, Richa Agarwal talks about stocks to keep in your watchlist if you are keen to ride the 'spirited' surge.

Why Kotak Mahindra Bank Share Price is Falling

In news from the banking sector, shares of Kotak Mahindra Bank fell on 29 December, a day after the lender received a show-cause-cum-demand order from the assistant commissioner of central goods and service tax (GST) and excise.

It levied a cumulative Rs 5.7 m towards central goods and services tax (CGST), accompanied by applicable interest and a penalty of Rs 5.1 lakh.

The demand has disallowed the input tax credit (ITC) on certain expenses during FY18 and FY19.

The amount is not significant, considering the private sector lender's Rs 31.9 bn net profit recorded for the quarter ended September 2023. It was a 23.6% rise over the last year. Its net interest income, the difference between the interest earned by a bank and the interest paid, came in at Rs 62.9 bn for the quarter, a 23.5% YoY gain.

The private lender announced that the Reserve Bank of India (RBI) has approved the appointment of CS Rajan, who serves as an independent director of the bank, as the part-time Chairman of the bank. This appointment is effective from 1 January 2024 and is slated to last two years.

For more, check out Top 5 Stocks to Monitor as India-Canada Tensions Heats up.

Innova Captab IPO

Moving on, after a muted debut on the exchanges with a marginal 5% gain, shares of Innova Captab Limited gathered steam in the afternoon trade on 29 December and were locked in the upper circuit.

The stock was quoting Rs 542 in the afternoon at a premium of 21% to the issue price of Rs 448. Innova is an Indian pharmaceutical company involved in research and development, manufacturing, drug distribution, marketing and exports.

The shares were trading near Rs 32 in the unlisted market, from Rs 121 per share, hit on 26 December. This steep correction in its GMP comes after a series of dull listings earlier this week and slim trading volumes before the new year.

The grey market is an unofficial ecosystem where shares start trading much before the allotment and until the listing day.

The issue, which was open for bidding between 21 December to 26 December, was subscribed 55.26 times at close. The category for qualified institutional bidders (QIBs) was booked the most at 116.7 times, followed by non-institutional investors' portion at 64.9 times. The quota reserved for retail investors was booked 17.2 times.

Techno Electric Order Win

Moving on to news from the engineering sector, shares of Techno Electric & Engineering Company touched a 52-week high, rising nearly 4% in the early trade on 29 December after the company bagged orders worth Rs 17.5 bn.

The company has received transmission order of Rs 7.1 bn, including 765kV AIS Package (Substation) for Neemrana-II from Sterlite worth Rs 1.9 bn and 765kV AIS Substation Package for establishment of 765,400 kV, 2x1500 MVA at Sikar from PGCIL worth Rs 2.2 bn It also includes substation package for (i) 765/400 kV Dausa and (ii) Extension of 765 kV Beawar from PGCIL worth Rs 2.9 bn.

The Advance Metering Infrastructure (AMI) segment received an order of Rs 10.4 bn from RECPDCL for 7.27 Lakh Smart Meters in Kashmir on a DBFOOT basis.

In November, the company and Keppel Data Centres (India) Private Limited entered into a non-binding agreement to explore potential collaboration in a greenfield development of a data centre campus in India.

To know what's moving the Indian stock markets today, check out the most recent share market updates here.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

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INDICESBSE (Rs 0 to 1)BSE (Rs 1 to 2)BSE (Rs 2 to 4)BSE (Rs 4 to 10)BSE (Rs 10 to 20)BSE (Above Rs 20)BSE - AllBSE-30BSE-100BSE-200BSE-500BSE AutoBSE BankexBSE Capital GoodsBSE Consumer DurablesBSE FMCGBSE HealthcareBSE ITBSE MetalBSE Oil & GasBSE PSUBSE TeckBSE RealtyBSE PowerBSE A GroupBSE B GroupBSE Mid-CapBSE Small-CapBSE Basic MaterialsBSE Consumer DiscretionaryBSE IndustrialsBSE UtilitiesBSE Sensex 50BSE Sensex Next 50BSE Bharat 22BSE 150 MidCapBSE 250 SmallCapBSE 250 LargeMidCapBSE 400 MidSmallCapBSE AllCapBSE LargeCapBSE SmallCap SelectBSE 100 LargeCap TMCBSE InfraBSE ManufacturingBSE CPSEBSE Private BankBSE Diversified FinancialsBSE MomentumBSE Low VolatilityBSE QualityBSE Enhanced ValueBSE Divident StabilityS&P BSE IPOBSE SMEIPOBSE 100 ESGBSE CarbonexBSE GreenexNSE (Rs 0 to 10)NSE (Rs 10 to 20)NSE (Above Rs 20)NSE - AllNSE-50NSE ITNSE Nifty Midcap 50NSE JR. NiftyNSE Bank NiftyNIFTY Next 50NIFTY 100NIFTY 200NIFTY 500NIFTY MidCap 100NIFTY SmallCap 250NIFTY SmallCap 50NIFTY SmallCap 100NIFTY LargeMidCap 250NIFTY MidSmallCap 400NIFTY AutoNIFTY Consumer DurablesNIFTY FinanceNIFTY FMCGNIFTY MediaNIFTY MetalNIFTY PharmaNIFTY Private BankNIFTY PSU BankNIFTY RealtyNIFTY Oil & GasNIFTY SME EmergeNIFTY CommoditiesNIFTY CPSENIFTY EnergyNIFTY India ConsumptionNIFTY InfraNIFTY MNCNIFTY PSENIFTY Serv SectorNIFTY100 Liquid 15NIFTY Midcap Liquid 15NIFTY Midcap 150 Quality 50NIFTY50 Equal WeightNIFTY100 Equal WeightNIFTY100 Low Volatility 30NIFTY100 Alpha 30NIFTY Alpha 50NIFTY Dividend Opportunities 50NIFTY High Beta 50NIFTY Low Volatility 50NIFTY200 Quality 30NIFTY 500 Value 50NIFTY 100 Quality 30SECTORSAgricultureAirlinesAluminiumAsset Management CompaniesAutomobilesAuto AncillariesBanks (Private)Banks (PSU)BankingCementChemicalsDefenceDiagnosticsDronesEngineeringElectric VehicleElectric Vehicle BatteryEnergy SourcesESGEthanolFertilizersFintechFMCGFoodGreen HydrogenHotelsInfrastructureInsuranceInvestment and FinanceInvITIT (Large)IT (Others)LogisticsMediaMetalMiningIndia's Big Tech StocksIndian PharmaMNC PharmaPSUPaintPaperPlasticPowerRating AgenciesReal EstateREITsRenewable EnergyRetailingSemiconductorShippingSteelSugarSupply ChainTelecomTextilesTravel Support Services

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