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CEAT Shares Soar 10%, Weak Demand Outlook Sparks Sharp Selloff in FMCG Stocks, CDMO Sector Hit by US Biosecure Act Concerns
CEAT Shares Soar 10%, Weak Demand Outlook Sparks Sharp Selloff in FMCG Stocks, CDMO Sector Hit by US Biosecure Act Concerns
Written by - Fisdom Research
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December 9, 2024
2 minutes
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Market Snapshot
Indian equity markets traded within a narrow range on December 9 and ended lower for the second consecutive session.
The Nifty closed near 24,600, weighed down by selling in FMCG, PSU Bank, auto, and pharma stocks.
Buying interest was observed in capital goods, IT, and metal sectors, offering some support.
Broader markets continued to outperform, with the Midcap and Smallcap indices gaining 0.50% and 0.19%, respectively.
Sectoral Trends
Sector Name
% Change
Sector Name
% Change
NIFTY METAL
0.6
NIFTY FINANCIAL SERVICES
0.1
NIFTY CONSUMER DURABLES
0.5
NIFTY MIDSMALL HEALTHCARE
-0.1
NIFTY REALTY
0.3
NIFTY BANK
-0.2
NIFTY IT
0.3
NIFTY PRIVATE BANK
-0.3
Top News
BSE Ltd surged over 19% in three sessions to hit a record high of Rs 5,409.65 on December 6, driven by a 14% jump in the previous session, before retreating slightly.
Garden Reach Shipbuilders & Engineers rose 4% to Rs 1,828 after securing an agreement for a second 7,500 DWT multi-purpose vessel; the stock has more than doubled this year, outperforming the Nifty 50’s 12% rise.
RITES Ltd gained nearly 3% after securing a Rs 148.25 crore project (excluding GST) as Project Management Consultant for IIM Raipur’s Phase II campus development in Chhattisgarh.
IPO frenzy cools down in November as subscription levels take a hit
Kalpataru gets SEBI’s approval for Rs. 1590 crore IPO
Suraksha Diagnostic IPO fully subscribed on day 2
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