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Dixon’s JV with Vivo Boosts Shares, Nifty Slips on IT Weakness, Real Estate Gains on 2025 Housing Optimism
Dixon’s JV with Vivo Boosts Shares, Nifty Slips on IT Weakness, Real Estate Gains on 2025 Housing Optimism
Written by - Fisdom Research
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December 16, 2024
2 minutes
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Market Snapshot
Indian equity indices experienced a highly volatile session on December 13 but ended strong, led by auto, banking, telecom, and FMCG stocks.
Weak global cues initially pressured the market, causing a negative opening and extending losses in the first half, with Nifty dipping below 24,200.
A sharp recovery in the second half, driven by buying in heavyweights and most sectoral indices, helped the market close on a positive note.
Sectoral Trends
Sector Name
% Change
Sector Name
% Change
NIFTY REALTY
3.1
NIFTY PHARMA
0.4
NIFTY MEDIA
1.5
NIFTY HEALTHCARE INDEX
0.4
NIFTY CONSUMER DURABLES
0.5
NIFTY AUTO
0.1
NIFTY PSU BANK
0.5
NIFTY PRIVATE BANK
0.1
Top News
Dixon Technologies surged 5% after signing a binding agreement with Vivo India to establish a new manufacturing joint venture, where Dixon will hold a 51% majority stake and Vivo India the remaining 49%.
The Nifty index ended its five-day winning streak, slipping 0.3%, weighed down by losses in IT majors like TCS, Tech Mahindra, Infosys, and Coforge, with Citi reiterating a ‘Sell’ rating on TCS due to weaker demand and deal scrutiny.
Real estate stocks rallied on December 16, with Oberoi Realty, Prestige Estates, and Macrotech Developers gaining 3-5%, fueled by optimism over strong housing demand, upcoming rate cuts, and favorable demographic trends for 2025
DAM Capital IPO price band set at Rs. 269 – 283
Anand Rathi Shares and Stock Brokers file draft papers with SRBI for a Rs. 745 crore IPO.
Technical Outlook: Key Indices
Indices Name
Support
Resistance
Nifty
24,500
24,850
Bank Nifty
53,000
53,900
Top Gainers and Losers
Top Gainers
% Change
Top Losers
% Change
DRREDDY
1.7
TITAN
-2.0
INDUSINDBK
1.2
HINDALCO
-1.4
HDFCLIFE
0.5
ADANIPORTS
-1.4
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