Summary of the Day's Market Performance

Market Overview

• Sensex: Declined 67.30 points (-0.09%) to close at 78,472.87.

• Nifty: Dropped 25.80 points (-0.11%) to settle at 23,727.65.

• Midcap Index: Closed flat.

• Smallcap Index: Rose marginally by 0.3%.

• Sectoral Highlights:

  • Gainers: Auto, FMCG, Oil & Gas.

  • Losers: IT, Media, Metal, PSU Bank.

The BSE and the NSE will remain closed on Wednesday, December 25, for trading activities on account of Christmas 2024.

💸 Market Transactions:

• Foreign Institutional Investors (FII): ₹-2,454.21 crore (Net Sellers)

• Domestic Institutional Investors (DII): ₹2,819.25 crore (Net Buyers)

DIIs continued to provide stability amid heavy selling by FIIs.

1. Muted Session Before Holiday:

   • Markets traded cautiously ahead of the Christmas holiday, reflecting low trading activity.

2. Key Drivers:

   • FMCG and Auto sectors rebounded from recent corrections, while metal and power stocks dragged.

   • The market remains cautious due to a strong dollar, elevated bond yields, and lack of clarity on potential rate cuts.

3. Currency Pressure:

   • The Indian rupee touched an all-time low, adding to investor caution.

• What is a CDMO?

  • A Contract Development and Manufacturing Organization (CDMO) supports pharmaceutical companies in drug development and manufacturing processes, enabling global supply chain efficiencies.

Key Stock Movements and News

• Top Gainers:

  • Tata Motors, Adani Enterprises, Eicher Motors, BPCL, ITC.

• Top Losers:

  • Power Grid Corp, JSW Steel, SBI Life Insurance, Titan Company, SBI.

1. HFCL:

   • Opened a defense manufacturing facility to cater to the armed forces.

2. Akums Drugs:

   • Signed a ₹1,760 crore CDMO agreement for European supply, signaling expansion.

3. Gulf Oil Lubricants:

   • Shares surged on a deal with Nayara Energy, India's largest private fuel retailer.

4. Motilal Oswal Wealth Management:

   • Highlighted Lupin, Mankind Pharma, Piramal Pharma, Ipca Labs, and Max Healthcare as top picks for robust growth in the domestic pharma sector.

5. Greaves Cotton:

   • Spiked 11% after its EV arm, GEML, filed for IPO, extending its month-long rally.

6. MTNL:

   • Shares rose 4% after announcing a Voluntary Retirement Scheme to reduce costs.

7. PG Electroplast:

   • Soared 5% after partnering with Whirlpool for semi-auto washing machines.

8. Tata Group Stocks:

   • Jumped up to 13% as Tata Capital commenced preparations for a mega IPO.

• Greaves Cotton: Positive momentum from GEML IPO approval.

• Akums Drugs: Growth from European supply agreement.

• Tata Group Stocks: Watch for IPO-driven rally in Tata Capital-related companies.

• PG Electroplast: Growth potential from a partnership with Whirlpool.

• Motilal Oswal Pharma Picks: Consider Lupin and Mankind Pharma for robust domestic growth.

Markets ended the session flat as investors adopted a wait-and-watch approach before the Christmas holiday. While auto and FMCG sectors provided support, declines in metal and IT stocks weighed on overall performance. The near-term focus shifts to the Union Budget and Q3 earnings, with global cues like dollar strength and bond yields influencing sentiment. Amid cautious trading, opportunities lie in stock-specific moves driven by corporate developments and sector trends.

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