Post-Market Snapshot

• Nifty 50: 23,813 (+0.27%)

• Sensex: 78,699 (+0.29%)

• India VIX: 13.24 (-5.70%)

Indian equity markets ended the day with marginal gains, supported by strength in Pharma and Auto sectors. The volatility index, India VIX, fell by 5.70%, reflecting reduced market uncertainty.

Sectoral Highlights

• Top Gainers:

• Pharma (+1.30%)

• Auto (+0.97%)

• Healthcare (+0.80%)

• Top Losers:

• Metal (-0.96%)

• PSU Banks (-0.89%)

Top Movers

• Gainers:

• Akums Drugs: ₹668 (+9.09%)

• PTC Industries: ₹13,530 (+8.74%)

• Loser:

• Amber Enterprises: ₹7,442 (-5.71%)

Key News Highlights

1. NTPC Renewable Energy: Commences operations at its 37.5 MW Gujarat Solar Project, bolstering India’s renewable energy initiatives.

2. Gensol Engineering: Secures a ₹897.47 crore EPC contract for a 225 MW solar project in Gujarat, showcasing strong momentum in the renewable energy sector.

3. Drone Destination: Receives its first drone supply order from Bharat Electronics for defense applications, reflecting growing focus on indigenous technology.

4. Power Mech Projects: Bags a ₹186 crore operations and maintenance contract for the Nigrie Super Thermal Power Plant.

5. Newgen Software: Secures a $2 million digital lending contract in Dubai, strengthening its international presence.

Market Trends

• Sectoral Performance: Pharma stocks outperformed, driven by the falling rupee and robust demand. Auto and Healthcare also witnessed strong momentum. On the downside, Metals and PSU Banks lagged due to profit booking and subdued investor sentiment.

• Currency and Forex:

• The rupee touched a new low, adding pressure on imports but benefiting export-driven sectors like Pharma.

• Forex reserves declined by $8 billion, raising concerns over external account balances.

• Broader Market Sentiment:

• Advancing stocks: 1,222

• Declining stocks: 1,160

• The advance-decline ratio signals a positive sentiment, despite mixed performance in broader indices.

Global Economic Calendar Highlights

• United States: Release of Consumer Confidence data for December.

• Eurozone: M3 Money Supply and Private Sector Credit data updates.

• Japan: Consumer Price Index (CPI) report for November.

Outlook

As the markets navigate the final days of 2024, the reduced volatility and sectoral strength in Pharma and Auto offer a glimpse of stability amidst global and domestic challenges. Investors are advised to monitor currency trends and sectoral performances closely for strategic opportunities.

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