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IGL Rises on Bonus Approval; Religare Soars on RBI Nod; LIC Falls on Declining Premiums
IGL Rises on Bonus Approval; Religare Soars on RBI Nod; LIC Falls on Declining Premiums
Written by - Fisdom Research
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December 10, 2024
2 minutes
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Market Snapshot
The Indian benchmark indices ended flat after a highly volatile session on December 10.
Markets opened on a flat to positive note and traded in the green during the first half.
Profit booking in the second half pushed the Nifty into negative territory.
Final-hour buying in IT and Realty stocks erased losses, leading to a near-flat close.
Broader indices outperformed, with BSE Midcap and Smallcap indices rising 0.3% each
Sectoral Trends
Sector Name
% Change
Sector Name
% Change
NIFTY REALTY
1.4
NIFTY BANK
0.3
NIFTY IT
0.8
NIFTY CONSUMER DURABLES
0.3
NIFTY PSU BANK
0.5
NIFTY METAL
0.2
NIFTY FINANCIAL SERVICES
0.3
NIFTY PRIVATE BANK
0.1
Top News
Indraprastha Gas Limited’s stock rose over 2% as the board approved a 1:1 bonus issue, despite shares being down by more than a third this year following the government’s decision to cut priority gas allocations.
Religare Enterprises surged nearly 10% after the RBI approved the Burman family’s open offer to acquire an additional 26% stake in the company.
LIC shares fell nearly 4% due to a 27% YoY decline in November premiums, with total and retail APEs dropping by 19% and 12%, respectively.
Flipkart eyes D-street listing in 12-15 months
Vishal Megamart IPO to open on December 11
Trade Ideas Update
Our trade ideas success rate has 69% over the past month, even with increased volatility in the benchmark index. Follow Trade Ideas for timely stock insights.
