Stock Market Live Updates 26 December 2023: Sensex, Nifty to start flat, expected to hold ground

Stock Market Live Updates: Stock Recommendations: Engineers India: Why it’s time for investors to book profits in this stock

​PSU stocks have seen a sharp rally this year ​as BSE PSU Index rose by around 46 per cent on a year-to-date basis. This has possibly been driven by rerating due to attractive valuation, and increased capex spending by the government. One PSU player that was part of the rally is engineering consultancy firm, Engineers India Ltd (EIL).

Stock Market Live Updates: Prime Focus World N.V. to merge with DNEG: Overseas subsidiaries inform Prime Focus

Prime Focus has been informed by its overseas subsidiaries – Prime Focus World N.V., Netherlands and DNEG S.a.r.I., Luxembourg (formerly Prime Focus Luxembourg S.a.r.l.) – that PFW NV is proposed to be merged with and into DNEG, in accordance with the applicable laws of the Netherlands and the Grand Duchy of Luxembourg.

Stock Market Live Updates: Jindal Stainless secures sale certificate for Rabi Run Vinimay acquisition

Jindal Stainless Ltd has received the Sale Certificate from the Official Liquidator confirming the sale of Rabi Run Vinimay Private Limited to the company

Stock Market Live Updates: Bank of Baroda subscribes to ONDC shares, holds 8.51% equity post investment

Bank of Baroda has subscribed shares, of Open Network for Digital Commerce (ONDC). Post investment, Bank of Baroda holds 8.51 per cent of the equity share capital of ONDC by way of allotment of additional 30 lakh fully paid up Equity shares of face value of ₹100 each

Stock Market Live Updates: Akshar Spintex Board proposes 1:5 bonus issue, awaits member approval

The board of Akshar Spintex has recommended a bonus issue in the ratio of 1:5, subject to approval by the members of the company

Stock Market Live Updates: Quess Corp board nods for overseas subsidiary restructuring, 56% stake acquisition

The board of Quess Corp has approved a proposal of restructuring of overseas subsidiaries by way of acquisition of 56 per cent stake in Mfxchange Holdings Inc., Canada, a wholly owned step-down subsidiary of the Company from Quesscorp Holdings Pte Ltd, Singapore, a wholly owned subsidiary.The proposed restructuring will result in simplification of structure of the company without any change in ultimate ownership of subsidiary

Stock Market Live Updates: Xchanging Solutions receives ₹126.50 crore outstanding loan from Xchanging Solutions US INC

Xchanging Solutions said that the remaining outstanding loan of ₹126.50 crore from Xchanging Solutions US INC has been received in the Company’s INR account on December 22

Stock Market Live Updates: Elegant Marbles & Grani Industries sets January 5 as record date for buyback participation

Elegant Marbles & Grani Industries Limited has fixed January 5,, as the Record Date for the purpose of determining the entitlement and the names of the equity shareholders who shall be eligible to participate in the Buyback

Stock Market Live Updates: Ace Men Engg Works mulls unlisted company stake acquisition for business expansion

The board of Ace Men Engg Works has discussed the proposal to acquire stake in the Unlisted public company to expand its business verticlas. The Board meeting for the unconcluded agenda for acquiring stake is adjourned till December 29.

Stock Market Live Updates: Wipro has denied rumours of former L&T Infotech CEO Sanjay Jalona joining the company

Stock Market Live Updates: Anupam Rasayan inks $61 million deal with leading Japanese chemical firm

Anupam Rasayan has signed letter of intent worth $61 million (₹507 crore) with one of the leading Japanese multi-national chemical company.

Stock Market Live Updates: Ankiti Bose’s ₹820 crore civil suit against NDTV convergence settled amicably

Civil Suit filed by Ankiti Bose before Bombay HC seeking ₹820 crore damages against NDTV’s arm NDTV Convergence has been amicably settled between the parties.

Stock Market Live Updates: Vedanta’s BALCO faces ₹84 crore GST demand from Bilaspur for FY17-18

Bharat Aluminium Co (BALCO), a subsidiary of Vedanta Ltd, has received ₹84 crore GST demand from Bilaspur authorities for FY17-18 on account of various interpretational issues

Stock Market Live Updates: NTPC’s renewable energy unit wins bid for 900 MW solar projects

Stock Market Live Upates: ICRA has upgraded its rating on Can Fin Home’s long-term facilities to ‘AAA’ from ‘AA+

Stock Market Live Updates: SEBI to move to instant settlement in two phases

The move will enable faster pay-outs of securities and funds to investors, improve overall market efficiency, and enhance the overall risk management of clearing corporations (CCs), according to the regulator

Stock Market Live Updates: AMFI classification: Top 52 small-cap cos command $3 bn in m-cap

The sharp rally in the equity markets is redefining the small-cap definition for mutual funds. The first 58 stocks that will enter the small-cap as per the Association of Mutual Funds of India definition will have a combined market-cap of about $3 billion.

However, globally small caps are classified as stocks within the market cap range of $300 million to $2 billion. However, in India the first 100 highest market-cap stocks are labelled as large caps and mid-cap stocks are ranked between 101 and 250 by market-cap. The remaining stocks are clubbed as small-cap.

Stock Market Live Updates: Mutual fund investors flex muscle, beat FPI inflows hands down

Retail and mutual fund investors proved saviours of the equity markets when foreign portfolio investors pulled out of India in the backdrop of the US Fed persisting with rate hikes in 2023.

In one of the fastest rate hikes campaigns, the US Fed increased interest rates in four equal instalments of 25 basis points each, from 4.50-4.75 per cent to 5.25-5.50 per cent between February and July, before pressing the pause button to salvage economic growth.

Stock Market Live Updates: AIK Pipes and Polymers sets IPO price at ₹89 per share; issue opens Dec 26-28

Pipe maker AIK Pipes and Polymers on Sunday said it has fixed a price of ₹89 per share for its Initial Public Offering (IPO), which will open for public subscription from December 26-28.

The initial share-sale is entirely a fresh issue of 16.88 lakh equity shares and the company aims to raise about ₹15.02 crore from the IPO, AIK Pipes said in a statement.

Shares will be listed on the BSE-SME platform.

Stock Market Live Updates: Small is big: Alpha chasing investors push SME IPO subscription to new high

Notwithstanding the boom in the main board primary market issuance, retail investors’ interest in initial public offering on SME platforms have also touched a new high.

SME segment saw 166 companies raising an aggregate of ₹4,472 crore by listing on both BSE SME and NSE Emerge. 

Stock Market Live Updates: Stocks that will see action today: December 26, 2023

Buzzing Stocks: Reliance Industries, Infosys, Adani Wilmar, Paytm, Aurobindo Pharma, Jindal Steel, RITES, UPL, Strides Pharma Science, Religare Enterprises, Sandhar Technologies, Indsil Hydro Power, Redtape, Intellivate Capital Ventures, Indo Amines

Stock Recommendations: F&O Strategy: Buy Ipca Laboratories futures

Ipca Laboratories’ stock (₹1,062.65) has been steadily gaining since July. It took support at ₹675 and then started to rally. But after marking a 52-week high of ₹1,161.85 in early December, the stock lost steam. What followed was a decline in price and last week, it closed at ₹1,062.65.

Stock Market Live Updates: F&O Tracker: Rally to resume, going forward

Nifty 50 (21,349) snapped a seven-week rally by posting a loss of 0.5 per cent last week. Similarly, Bank Nifty (47,492) ended its four-week rally by shedding 1.4 per cent over the past week. Here, we take a look at the derivatives data to see whether the decline holds any significance.

Commodities Market Live Updates: Crude oil: Downtick expected

Crude oil prices went up last week. Brent crude oil futures on the Intercontinental Exchange (ICE) appreciated 3.3 per cent as it closed at $79.1 per barrel. Crude oil futures on the MCX gained 2.5 per cent by ending the week at ₹6,163 a barrel.

Commodities Market Live Updates: Gold Cues: Bulls on the ascent

The precious metals appreciated for the second week in a row. Gold and silver gained 1.7 per cent each last week, as they closed at $2,053 and $24.2 per ounce respectively on Friday.

Currency Market Live Updates: Dollar and Treasury yields remain weak

The US dollar index continued its fall for the second consecutive week. As expected, the index fell to test the key support level of 101.50 last week. It made a low of 101.43 and has bounced slightly from there to close at 101.70. The index was down 0.83 per cent for the week. The US 10Yr Treasury yield, on the other hand, remained lower but was relatively stable. 

Stock Market Live Updates: F&O Query: Aditya Birla Capital (₹159.7)

The stock, which has been on a downtrend since July, has now reached a support at ₹160. Although the closing price is slightly below this level, we cannot consider that as a strong break.

Stock Market Live Updates: F&O Query: SBI Life Insurance Company (₹1,394.3)

The stock has seen a decline in price over the past couple of weeks. However, ₹1,380 is a support and this can stop the downtrend. The 50-day moving average coincides at ₹1,380 making it a strong base.

Stock Recommendations: Indus Towers (₹185.6)

Indus Towers’ stock, in April this year, formed a base at ₹136. It then started to appreciate. However, after gaining to ₹195 in September, the stock began to move sideways. It was oscillating between ₹178 and ₹195, except for a temporary fall to ₹168 once in October. 

Stock Recommendations: Endurance Technologies (₹1,833)

Endurance Technologies’ stock bounced off the support at ₹1,200 in April this year. But after reaching ₹1,749 in July, the bulls lost momentum and consequently, the price moderated. The support at ₹1,525 arrested the decline and the stock has now resumed another leg of rally on the back of this base. 

Stock Recommendations: Advanced Enzyme Technologies (₹375.3)

Advanced Enzymes Technologies’ stock began rallying in April this year after depreciating over the preceding two years. It took support at ₹230 and started moving up. In early December, the stock surpassed a resistance at ₹345 and confirmed a bull flag on the weekly chart.

Stock Market Live Updates: Index Outlook: Nifty 50, Sensex: Uptrend is intact

It was a volatile week for the Indian equity markets. After a stable beginning, the Sensex, Nifty 50 and the Nifty Bank index witnessed a sharp fall mid-week on Wednesday. But thereafter, they have managed to bounce back and recoup most of the loss. The recovery from the week’s low indicates the presence of strong buyers at lower levels. That, in turn, keeps the overall positive sentiment intact. 

Stock Recommendations: Broker’s call: JK Lakshmi Cement (Buy)

The company’s ongoing capacity expansion at its subsidiary UCWL (Udaipur Cement Works Ltd) of a 2.5 mtpa grinding unit is progressing well and is expected to commercialise in Q1-FY25. The clinker unit (1.5 mtpa) is already operational and getting stabilised. Clinker produced at UCWL will be used by JKLC for grinding

Stock Recommendations: Oberoi Realty (Add)

Oberoi Realty (OBER) in Q3-FY24 launched its most-awaited project in Kolshet-Thane (2.5msf) and plans to launch the Pokrhan-2 (about 15msf) project in the next 1-2 quarters. Additionally, the company plans to launch another tower in Goregaon in Q4-FY24.

Stock Market Live Updates: Securities in F&O Ban For Trade Date 26-Dec-2023

• ASHOK LEY

• BALRAMCHIN 

• DELTACORP 

• HINDCOPPER

• INDIACEM

• NATIONALUM

• SAIL

Stock Market Live Updates: Major U.S. listed stocks result calendar 26.12.2023 

BHP Group (Tentative) (Sector- Metal and Mining)

SatixFy Communications Ltd. (Tentative) (Sector- Telecom)

Stock Market Live Updates: Economic Calendar – 26.12.2023 

19.30 U.S. Housing Price Index m/m (Expected: 0.5% versus Previous: 0.6%)

Stock Market Live Updates: Asian markets open steady amidst holiday lull, Nikkei sees marginal rise

Asian stock markets opened with minimal movement on Tuesday as significant global cues were lacking due to many markets remaining closed for the Christmas holiday.

The Nikkei 225 index saw a marginal increase of 0.065 per cent, or 21.78 points, reaching 33,275.81 in early trading, while the broader Topix index experienced a slight decrease of 0.05 per cent, or 1.07 points, down to 2,338.47.

Korean shares commenced the week with subdued activity, as the KOSPI traded 0.02 per cent lower, dropping by 0.48 points to 2,599.03. Meanwhile, Australia’s S&P/ASX 200 index showed weakness, down 0.03 per cent, or 2.50 points, trading at 7,501.60.

The stability of oil prices followed a notable weekly surge, marking its most substantial advance in over two months. Attention turned to potential disruptions in the Red Sea due to a series of Houthi attacks targeting vessels in this crucial waterway.

West Texas Intermediate hovered around $74 per barrel.