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Indian Indices

I) Nifty: opened at 23738 and touched a high of 23869 then a low of 23647 and closed at 23753 with a total of +165 points in Positive.

II) Bank Nifty: open 51044 and touched a high of 51417 then a low of 51030 and closed at 51317 With a total of +558 points Positive.

III) Fin Nifty: open 23713 and touched a high of 23889 then a low of 23703 and closed at 23785 With a total of +193 points in Positive.

IV) Nifty Mid Select: open 12746 and touched a high of 12854 then a low of 12678 and closed at 12756 , With a total of +72 points in Positive.

NSE Advance and Decline

Nifty 500 Top Gainer

1. Intellect Design Arena's shares jumped 13% following enthusiasm for its new AI platform, Purple Fabric. The platform enhances enterprise operations and targets SMEs.
2. Amber Enterprises The stock of this household appliance company recorded its sharpest intra-day gain since October 23, when it had zoomed 20 percent
3. Adani Wilmar Share Price Highlights: Adani Wilmar's stock price went up today, 23 Dec 2024, by 8.44 %. The stock closed at 291 per share. The stock is currently trading at 315.55 per share. Investors should monitor Adani Wilmar's stock price closely in the coming days and weeks to see how it reacts to the news.
4. India Cements approved making an open offer for up to 8,05,73,273 equity shares of Rs 10 each constituting 26 percent of the equity share capital of the company, for Rs 390 per equity share

Nifty 500 TOP LOSER

1. Doms Industries, a key player in the Printing & Stationery sector, saw its stock decline by 5.41% on December 23, 2024, marking a total drop of 13.8% over three days. The stock reached an intraday low of Rs 2620.4, underperforming the sector and the Sensex.
2. K P R Mill On December 23, 2024, K P R Mill's stock fell by 3.41%, reaching an intraday low of Rs 1112. Despite this decline, the company remains above key moving averages and has seen a 19.35% increase over the past month, outperforming the Sensex, which dropped by 0.77%.
3. Kirloskar Brothers, a key player in the compressors and pumps sector, saw its stock decline by 5.74% on December 23, 2024, marking an 8.91% drop over two days. The stock reached an intraday low of Rs 2013.25, underperforming the sector and contrasting with a 0.78% gain in the Sensex.
4.  New India Assurance Company’s stock fell by 5.32%, opening down 2.87% and hitting an intraday low of Rs 204.5. The company underperformed against the Sensex, which gained 0.78%, despite a positive trend over the past month with a 14.93% increase.

Sectoral Performance

Outperforming stocks vs nifty 500 over 1 week

Underperforming Stock vs Nifty 500 over 1 week

Stock With Rising Volume

Headlines

On Monday, December 23, 2024, Indian stock markets experienced a notable rise, with both benchmark indices advancing by 0.73%. The Nifty 50 climbed to 23,758.2 points, while the BSE Sensex reached 78,609.47. This upward movement was primarily driven by gains in financial and metal sectors.

HDFC Bank led the financial sector's growth, appreciating nearly 2%. Analysts at Emkay Global have raised the bank's target price to ₹2,100, citing its attractive valuations and superior asset quality.

Reuters

The metal sector also saw significant gains, rising by 1.3%. This increase followed the Directorate General of Trade Remedies' initiation of a safeguard probe into steel imports, a move that could benefit companies like Tata Steel and JSW Steel.

Reuters

In individual stock performances, Tech Mahindra's shares rose by 1.68% to ₹1,713.50, outperforming some competitors. However, the trading volume was notably lower than its 50-day average.

MarketWatch

Reliance Industries also saw a rise of 1.33% to ₹1,222.10, with trading volumes significantly surpassing its 50-day average.

MarketWatch

Despite these gains, broader market indices such as the Nifty Midcap100 and Nifty Smallcap100 remained flat, indicating that the rally was concentrated in large-cap stocks. Analysts caution that sustained market recovery will depend on improvements in corporate earnings.

Reuters

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