Nifty, Sensex Showing Signs of Weakness: Thursday Closing Report
Moneylife Digital Team 12 December 2024
On Thursday, stocks 1481 advanced, 2517 declined and 107 remained unchanged, with an advance decline ratio 0.58 on the Bombay Stock Exchange (BSE), indicating negative closing of stocks in broader markets. The trend of the major indices on Thursday’s trading is given in the table below.
 
 
On NSE, 101 securities advanced and closed at a new 52-week high whereas 19 securities sank to close at their new 52-week lows. In sectoral indices, Nifty IT and Nifty Metal were among the biggest gainers. Nifty Media, Nifty FMCG and Nifty Auto were among the biggest losers.
 
Infosys (+0.65%) announced a collaboration with RheinEnergie to assist enterprises in driving their energy transition and sustainability initiatives. This partnership aims to help businesses improve their energy efficiency by up to 30-40% while simultaneously working towards their decarbonization goals. 
 
Bikaji Foods (-4.14%) received NCLT approval for amalgamation with Vindhyawasini Sales Private Limited. The order dispenses with the need for shareholder and creditor meetings for this corporate action.
 
Tech Mahindra (+1.52%) announced an integration with ServiceNow to deliver generative AI-powered enterprise service management solutions. 
 
NBCC (-1.37%) was appointed by NCLAT as project management consultant for completing 16 Supertech projects involving 49,748 houses across four states, with an estimated construction cost of Rs9,445 crore with NBCC earning 8% in fees.
 
Punjab & Sind Bank (-1.94%) had planned to raise Rs3,000 crore through infrastructure bonds in December 2024. The 10-year bonds are rated 'AA' and will be listed on NSE. 
 
The Insurance Regulatory and Development Authority of India (IRDAI) will consider regulations to limit insurance company’s dependence on parent banks. This potential move, could particularly affect various life insurance companies like HDFC Life Insurance (-1.28%), SBI Life insurance (-1.48%)
 
ICICI Prudential Life Insurance (-0.49%) which has strong connection to its parent bank. The regulator's wants to ensure more independent operations and reduce potential conflicts of interest in the insurance sector.
 
HDFC Bank (-0.21%) received an warning letter from SEBI for non-compliance with regulations related to merchant banking, capital issuance, disclosure requirements, and insider trading prevention. The warning follows a periodic inspection of the bank's investment banking activities. HDFC Bank stated it will take steps to address the concerns and informed that it will have no significant financial impact.
 
Kernex Microsystems (+5.00%) India secured a Rs2,041 crore order from Chittaranjan Locomotive Works for 2,500 onboard KAVACH (rail signalling systems) equipment sets. 
 
Tata Communications (+0.61%) launched Kaleyra AI, an artificial intelligence suite for customer engagement and business analytics, set for beta testing in early 2025.
 
L&T-Cloudfiniti, a subsidiary of Larsen & Toubro (-1.45%), signed a 10-year contract with a leading cloud service provider for 6 MW IT Load capacity at its Sriperumbudur facility near Chennai, marking its first significant data centre customer.
 
Shakti Pumps (+5.00) received a Rs753.30 crore order from Maharashtra State Electricity Distribution Company for 2,50,000 off-grid solar water pumping systems.
 
 
The top gainers and top losers of the major indices are given in the table below:
 
 
The closing values of the major Asian indices are given in the table below:
 
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