India Cements Soars, Steelmakers Rally, Sterling Secures Solar Project
Written by - Fisdom Research
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December 23, 2024
2 minutes
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Market Snapshot
Benchmark indices Nifty and Sensex trimmed gains in afternoon trade on December 23 but managed to close the day in the green.
A rebound in heavyweight stocks HDFC Bank, Reliance Industries, and ICICI Bank helped offset last week’s selling pressure.
The market recovery follows a difficult period where key indices plunged 5%, marking their worst week in over two years.
Among sectoral indices, Nifty Auto faced selling pressure and was the only sector to close in the red.
Sectoral Trends
Sector Name
% Change
Sector Name
% Change
NIFTY REALTY
1.5
NIFTY METAL
0.9
NIFTY BANK
1.1
NIFTY PRIVATE BANK
0.9
NIFTY PSU BANK
1.1
NIFTY CONSUMER DURABLES
0.8
NIFTY FMCG
1.0
NIFTY FINANCIAL SERVICES
0.8
Top News
India Cements shares surged as the CCI approved a Rs 7,000-crore deal for UltraTech Cement to acquire a majority stake in the company.
Steelmakers rallied after the DGTR initiated investigations into imposing a 25% safeguard duty on steel imports, with potential early measures anticipated.
Sterling and Wilson Renewable Energy gained sharply after securing a Rs 1,200-crore domestic EPC order for a 500 MW solar project in Gujarat.
Bollywood backed realtor Lotus looks at Rs. 1000 crore IPO
Indo Farm Equipment IPO to open in on Dec 31st
Technical Outlook: Key Indices
Indices Name
Support
Resistance
Nifty
23,400
24,000
Bank Nifty
50,500
52,000
Top Gainers and Losers
Top Gainers
% Change
Top Losers
% Change
JSWSTEEL
2.4
HEROMOTOCO
-1.5
ITC
2.1
MARUTI
-0.8
HINDALCO
1.9
HCLTECH
-0.6
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