Sensex Today Ends 450 Points Lower | Nifty Below 23,650 | Hindalco & ONGC Top Losers

Mon, 30 Dec Closing

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After opening the day lower, Indian benchmark fell further as the session progressed and ended the day lower.

Benchmark equity indices BSE Sensex and NSE Nifty50 ended the week's first trading session in the negative territory.

At the closing bell, the BSE Sensex  closed lower by 450 points (down 0.6%).

Meanwhile, the NSE Nifty closed lower by 168 points (down 0.7%).

Adani Enterprises, HCL Tech and Sun pharma among the top gainers today.

Hindalco, Trent and ONGC on the other hand, were among the top losers today.

The GIFT Nifty was trading at 23,801, down by 161 points at the time of writing.

For a comprehensive overview of key players in the financial sector, check out list of Fin Nifty Companies.

For impact of the Bank Nifty companies and comprehensive overview of the index, check out Equitymaster's Bank Nifty Companies list

The BSE MidCap index ended marginally higher and BSE SmallCap index ended 0.5% lower.

Sectoral indices were trading mixed today with socks in telecom sector, IT sector and FMCG sector witnessing buying. Meanwhile stocks in metal sector and realty sector witnessing selling pressure.

Coforge, CRISIL, and Lupin 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...

The rupee is trading at 85.53 against the US$.

Gold prices for the latest contract on MCX are trading marginally lower at Rs 76,479 per 10 grams.

Meanwhile, silver prices were trading flat at Rs 88,880 per 1 kg.

Speaking of stock markets, Richa Agarwal, research analyst, highlights that after a strong post-Covid rebound, India's economic growth is slowing, with real GDP at 5.4% this quarter-below expectations.

India Inc.'s September quarter earnings also marked their weakest since the pandemic. While growth figures can vary, market valuations suggest a much more optimistic outlook.

Here are some key charts to help you make informed investment decisions.

Why Greaves Cotton Share Price is Rising

In news from the engineering sector, shares of Greaves Cotton surged up to 12% on 30 December before paring some gains, after 4.3 m shares, or 1.9% of equity, worth Rs 1.3 bn changed hands at an average price of about Rs 312 per share.

One of its subsidiaries, Greaves Electric Mobility (GEML) had recently filed a draft prospectus for a Rs 10 bn public issue.

The IPO includes a fresh issue of Rs 10 bn and an Offer for Sale (OFS) of up to 189.4 m shares by existing promoters and shareholders.

Veteran market investor Vijay Kedia had recently bought 12 lakh shares of Greaves Cotton, which amounts to a 0.5% stake, for Rs 250 m through a block deal on 9 December. This is the first time the market veteran has taken a bet on the company, and the news comes after the approval for the IPO of subsidiary GEML.

Greaves Cotton has a market capitalisation of over Rs 72 bn, and the shares have doubled in 2024.

Greaves Cotton is transitioning from a traditional engine company to a fuel-agnostic mobility solutions provider, with multiple revenue streams.

For more details, check out Bulk Deal Alert: Ace Investor Vijay Kedia Invests Rs 25 Crores In This EV Stock.

IOL Chemicals Surge 5%

Moving on to news from the chemical sector, shares of IOL Chemicals and Pharmaceuticals surged over 5% on 30 December as investors lapped up the stock after the board greenlit the proposal for a five-for-one stock split.

Shareholders will get five shares for each share they currently own.

This also marks the first stock split in the company's history. IOL Chemicals is yet to announce the record date for this stock split.

The upmove was also driven by heavy trading volumes. So far, nine lakh shares of the company have changed hands, already higher than the one month daily traded average of seven lakh shares.

Vodafone Idea Rises Over 5%

Moving on to news from the telecom sector, shares of Vodafone Idea rose over 5% on 30 December as the government waived bank guarantees for past spectrum auctions.

The telecom firm has been exempted from providing bank guarantees worth Rs 248 bn for spectrum auctions held before 2021 (2012, 2014, 2015, 2016).

In a 28 December filing, the company termed the government reform as a "big relief for telecom companies".

The company added that prior to this reform, bank guarantees aggregating to Rs 248 bn were required to be provided by the company against each spectrum instalment, 13 months prior to the installment falling due for the above auctions.

Cigniti Tech Shares Fall over 6%

Moving on to news from the tech sector, shares of Cigniti Technologies were trading over 6% lower on 30 December, days after the company announced the merger swap ratio of 1 share of Coforge for every 5 shares of Cigniti Tech.

Share swap transactions will lead to a 4% dilution in Coforge equity shares.

The merged entity will create 3 new scaled-up verticals- Retail, Technology, and Healthcare.

The boards of both companies approved the merger plan at their respective meetings on 27 December.

Cigniti is in the business of Quality and Digital engineering services for global clients, with a delivery centre in India.

Coforge acquired Cigniti to expand its capabilities in digital assurance and engineering services in the retail, healthcare, and hi-tech verticals.

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

Read the latest Market Commentary

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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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Indian Share Market Update: Top Gainers and Losers