On the technical charts, the RSI of the stock stood at 44.36.
Sagility India shares surged 5% on Thursday, reaching a fresh high of Rs 51.35, marking the 8th consecutive day of gains. The stock has risen 61% in the past month, while the Sensex has fallen nearly 2%. JPMorgan recently initiated coverage with an "Overweight" rating and a target price of Rs 54, highlighting the company’s strong position in the healthcare services sector.
Shares of Identical Brains Studios were listed on NSE at Rs 95, a 76% premium to its IPO price. The company raised Rs 20 crore. The funds will be used for office renovation, a new branch in Lucknow, equipment purchases, and working capital. The studio's portfolio includes notable projects and award-winning visuals.
The NSE Nifty index was trading 50.0 points up at 23777.65
Nifty 50: India's Nifty index is set to end 2024 in the green, marking its 9th consecutive positive close, though down nearly 10% from its peak. Despite trailing global indices like Nasdaq and Hang Seng, it outperformed others like FTSE. Vivek Sharma of Estee Advisors noted the market’s mixed performance, with a significant shift in momentum starting in October when FIIs began selling.
A total of 7,998 shares changed hands on the counter till 09:59AM (IST)
An Australia-based NRI businessman was duped by a Mumbai taxi driver, paying Rs 2,800 for a short ride using a fake fare app. After he filed a complaint, the driver was arrested. Police have since apprehended nine more drivers involved in similar scams targeting late-night passengers.
The momentum helped the stock to hit a fresh record high of around 1000 levels in October 2024, but it failed to hold the momentum. It found support above the 30-weeks simple moving average on the weekly charts.
In 2025, the industrial metals sector is poised for growth, driven by clean energy, infrastructure expansion, and evolving technologies. Copper, aluminum, nickel, and zinc are expected to show strong performance due to supportive government policies and increased demand in electrification and renewable energy projects.
The Nifty IT index was trading 0.27 per cent at 43550.45.
Reliance Power's subsidiary, Reliance NU BESS, has been granted interim relief by the Delhi High Court against disqualification from three bids due to an alleged fake bank guarantee. The court stayed SECI's ban on Reliance Power and its subsidiaries, except Reliance NU BESS, over natural justice principles, setting the next hearing for December 12.
Despite its potential to reduce emissions across various industries, the sector faces economic challenges and slow market development.
Taiwan's Presidential Office conducted its first tabletop exercise simulating military escalation scenarios with China, involving government agencies and civil groups to test response readiness. The exercise, led by top officials, comes amid increased Chinese military threats and gray-zone warfare activities near the island.
As of December 24, notable increases in futures open interest were observed for four stocks: Supreme Industries, APL Apollo Tubes, KEI Industries, and Sona BLW Precision Forgings, signaling heightened market activity and expanded positions.
Prime Minister Narendra Modi will be participating in the Veer Baal Diwas celebrations in New Delhi, launching the Suposhit Gram Panchayat Abhiyan to enhance nutritional outcomes. The event will also feature nationwide initiatives to engage youth and honour Pradhan Mantri Rashtriya Bal Puraskar awardees.
In 2024, around 35 out of 425 equity mutual funds have eroded investors' SIP investments, with several funds posting negative returns. Four funds, including Quant PSU Fund, delivered double-digit negative returns, with the Quant PSU Fund reporting a negative XIRR of 20.28%. An investor who had invested Rs 10,000 in this fund would see a current value of Rs 90,763.
The Institute of Chartered Accountants of India (ICAI) is set to release the CA Final November 2024 results on the evening of December 26, 2024. Students can view their results on the ICAI official website using their registration and roll numbers. CA Final exams for Group I and II occurred in early November.
Ola Electric Mobility share price: Ola Electric's shares rose after opening over 3,200 new stores co-located with service centres. This expansion makes it India's largest EV market expansion. The company now has 4,000 stores nationwide. Along with this, Ola Electric launched several offers and new scooter models, aiming for deeper market penetration and increased EV adoption.
Nifty holds support at 23,263, with sideways momentum expected. Derivatives suggest 23,800 as a key level, while volatility may increase during the F&O expiry. A Long Iron Condor strategy is recommended for limited price movement.
Despite FIIs ending 2024 with less than a billion dollars in net buying due to concerns over high valuations and economic factors, investors remain optimistic about Indian stocks, with the Sensex target above 90,000. A poll shows 82% of participants believe equities will outperform gold, silver, and debt, while gold and silver ETFs have posted 18% returns this year.
Bajaj Broking has recommended buying Hudco with a target price of Rs 314, citing its strong leadership and growth in urban infrastructure. The company's total income rose by 14.97% from the previous quarter and 34.31% from the same quarter last year, with net profit after tax at Rs 688.62 crore. Promoters hold a 75% stake.
Indian equity indices opened higher on Thursday, with banking stocks leading the gains. Sensex and Nifty50 saw notable rises, with SBI, ICICI Bank, and Axis Bank amongst the top performers. The session highlighted mixed performances in other sectors, while NTPC Green Energy shares fell after a lock-in period expiration. Market focus remains on expected fiscal and monetary policies.
Australia's Sam Konstas, 19, made a sensational Test debut against India with a 60 off 65 balls in the Boxing Day Test. He fearlessly attacked India's top bowlers, including Bumrah and Kohli, and created a buzz on social media due to frequent edits on his Wikipedia page. His innings, marked by both skill and audacity, captivated fans.
The Indian rupee hit a record low of 85.24 against the U.S. dollar on Thursday, weighed down by rising U.S. Treasury yields and a broader decline in Asian currencies.
