Adani Green’s Expansion, IT Index Surge, and Waaree’s Winning Streak
Written by - Fisdom Research
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December 12, 2024
2 minutes
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Market Snapshot
Indian benchmark indices closed lower, with the Nifty ending around 24,550, as investors awaited retail inflation data due later today and WPI inflation data on Friday.
The market opened lower despite positive global cues but recovered early losses to trade flat during the first half of the session.
Profit booking in the second half led to a sell-off across sectors, dragging the Nifty below 24,550, with the exception of gains in the Information Technology sector.
Sectoral Trends
Sector Name
% Change
Sector Name
% Change
NIFTY IT
0.8
NIFTY BANK
-0.3
NIFTY METAL
0.3
NIFTY PHARMA
-0.3
NIFTY FINANCIAL SERVICES
-0.3
NIFTY REALTY
-0.4
NIFTY HEALTHCARE INDEX
-0.3
NIFTY PRIVATE BANK
-0.4
Top News
Adani Green Energy surged 6% after commissioning a 250 MW solar power project in Rajasthan, boosting the Adani Group’s market cap by ₹27,000 crore and increasing its renewable capacity to 11,434 MW.
IT stocks rallied, with the Nifty IT index hitting a record high, as U.S. inflation data reinforced expectations of a Federal Reserve rate cut, benefiting companies like Persistent Systems, Tech Mahindra, and Coforge.
Waaree Energies extended its winning streak to seven sessions, gaining nearly 4% after securing a 170 MW solar power project in Madhya Pradesh, with total gains of over 20% during the period.
Flipkart eyes D-street listing in 12-15 months
Top Gainers and Losers
Top Gainers
% Change
Top Losers
% Change
ADANIENT
1.9
NTPC
-2.6
BHARTIARTL
1.5
HINDUNILVR
-2.3
INDUSINDBK
1.3
COALINDIA
-2.2
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