Key economic indicators
Actual on 16:00 on December 31
World economic indicators
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Stocks
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Change
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|---|---|
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🇮🇳 Nifty
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+ 0.1%
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|
🇮🇳 Sensex
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- 0.04%
|
|
🇮🇳 India VIX
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+ 3.23%
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|
🇺🇸 S&P 500
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- 1.07%
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🇺🇸 Nasdaq
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- 1.19%
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🇺🇸 Dow Jones
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– 1.07%
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🇪🇺 Euro Stoxx
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+ 0.84%
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🇨🇳 China A50
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- 0.96%
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|
🇨🇳 DJ Shanghai
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- 1.82%
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🇬🇧 FTSE 100
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+ 0.64%
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|
🇯🇵 Nikkei 225
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- 0.96%
|
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🇮🇩 IDX Composite
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+ 0.62%
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|
🇸🇦 Tadawul All Share
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+ 0.3%
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Top Gainers on Indian Stock Market
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Stocks
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Change
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|---|---|
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Kotak Mahindra Bank
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+ 2.49%
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ITC
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+ 1.37%
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Ultratech Cement
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+ 1.10%
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Tata Motors
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+ 0.95%
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Tata Steel
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+ 0.88%
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Top Losers on Indian Stock Market
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Stocks
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Change
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|---|---|
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Tech Mahindra
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- 2.35%
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Tata Consultancy Services
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- 1.48%
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Infosys
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- 1.31%
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ICICI Bank
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- 0.92%
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Bajaj Finance
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- 0.83%
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News
Easy Trip Planners Shares Dip as Promoter Plans Major Stake Sale
Easy Trip Planners ended the year on a shaky note as its shares took a steep dive on Tuesday, December 31. Opening nearly 7% lower at ₹15.76, the stock tumbled to a day’s low of ₹15.36 before managing to claw back some losses and close 6.92% down at ₹15.87. The final trading day of 2024 was anything but smooth for the online travel platform. The trigger? Reports emerged that co-founder and promoter Nishant Pitti plans to sell off his remaining 14.21% stake via a block deal estimated at a hefty ₹780 crore. Big names like Citadel Capital Fund, Elite Capital Fund, and Eminence Global Fund are reportedly gearing up to participate in the transaction. This potential shake-up has left the market uneasy, prompting the sharp sell-off. Technically, the stock faces significant resistance in the ₹16–₹16.5 zone, according to analysts. ₹14.85 could serve as strong support, with the stock likely to consolidate within this range for the next few sessions. A clear break above ₹16.5, however, could inject some fresh buying momentum, offering a glimmer of hope for bullish traders.
Rupee Extends Annual Decline Streak
The Indian rupee wrapped up 2024 in disappointing fashion, closing at a record low of 85.6150 against the U.S. dollar on Tuesday. This marks its sixth consecutive session of losses and a 2.8% drop for the year—a grim seventh straight year of annual declines. Weakness wasn’t exclusive to the rupee, as most Asian currencies struggled. The offshore Chinese yuan tumbled 0.6% to 7.35, its lowest in over a year, following tepid factory activity data from China. The broader backdrop wasn’t much better, with a slightly softer dollar index at 107.9 and U.S. bond yields inching down during Asian trading hours. Despite the broader regional context, the rupee’s persistent slump underscores concerns about its trajectory in 2025. Investors are grappling with the potential for continued losses as global and domestic factors exert pressure. While the closing days of 2024 brought no surprises, they left a sour taste, setting the stage for what could be another challenging year ahead for the currency.
Surya Roshni Shines Ahead of Bonus Issue with a 10% Surge
Amid a sluggish market, Surya Roshni lit up the trading floor with a stellar 10% intraday rally on December 31, riding high on excitement surrounding its first-ever 1:1 bonus issue. The buzz was palpable as investors scrambled to secure shares ahead of the record date on January 1, 2025. For every share held, investors will receive one bonus share—doubling the total share count but keeping individual ownership percentages intact. This move aims to improve liquidity and make the stock more appealing, a strategic milestone for the company. The bonus shares are set to hit investor accounts by January 2 and will trade on exchanges starting January 3. Surya Roshni has been rewarding its shareholders consistently, dishing out ₹7.50 per share in dividends this year and completing a 1:2 stock split back in October. However, despite these shareholder-friendly moves, 2024 has been a rollercoaster for the stock. Currently trading at ₹616.80 after today’s rally, the stock is still 27% off its 52-week high of ₹841.50 but has climbed 32% from its March low of ₹467.15.
India’s FPI Slump and the Road Ahead
2024 has been a bruising year for India on the foreign investment front. Foreign Portfolio Investment (FPI) inflows collapsed by a staggering 99%—from ₹1.71 lakh crore in 2023 to a meager ₹2,026 crores, according to NSDL data. It’s a wake-up call for Asia’s third-largest economy, underscoring the challenges in keeping global investors interested. The U.S. economy, flexing its “exceptionalism,” pulled much of the world’s capital. Higher interest rates, booming markets, and resilient economic data made U.S. bonds, equities, and money markets irresistibly attractive. That money had to come from somewhere, and emerging markets, including India, took the hit. On India’s side, valuations didn’t help. Elevated price-to-earnings ratios, a sky-high market cap-to-GDP ratio, and slowing GDP growth turned off investors looking for value. Throw in weaker industrial output and lackluster corporate earnings, and India became an increasingly tough sell. The Reserve Bank of India tightened liquidity and introduced stricter rules on unsecured lending, dragging down banks and non-bank financial institutions—a sector FPIs traditionally favor. Despite this, FPIs showed selective confidence, sticking with India’s primary markets and long-term opportunities. On the bright side, domestic investors stepped up, cushioning the blow and preventing the markets from spiraling out of control.
Rail Vikas Nigam Soars 7.5% on ₹540 Crore Order Wins
Rail Vikas Nigam Ltd (RVNL) shares were buzzing on Tuesday, rallying up to 7.5% in intraday trade after the company bagged hefty orders worth ₹540 crore from Central Railway and East Coast Railway. Opening at ₹414.50 on the BSE—just above Monday’s close of ₹409.10—the stock climbed to a high of ₹439.90 during the session. The excitement stems from RVNL’s announcement as the lowest bidder (L1) for two significant projects. The first one – Koraput-Singapur Road Doubling Project. This East Coast Railway project involves major bridge construction and related works between Tikiri and Bhalumaska. The ₹404.4 crore project is set for completion in 30 months. The second – Bhusaval-Khandwa Traction System For Central Railway. RVNL will handle the design and commissioning of a 132/55 KV traction substation and related infrastructure. This ₹137 crore project will be executed in 24 months.
Unimech Aerospace Takes Off with a Spectacular Listing Premium
Unimech Aerospace shares soared during their debut on December 31, listing at ₹1,491 on the BSE—a stunning 90% above their issue price of ₹785 per share. The NSE wasn’t far behind, with the stock opening at ₹1,460, translating to an 86% premium. While grey market chatter had hinted at a strong opening, Unimech managed to exceed even those lofty expectations. By mid-morning, the stock settled slightly lower at ₹1,400 on the BSE, marking a 78% gain in a market weighed down by broader weakness. This performance reflects significant investor enthusiasm following the ₹500-crore IPO, which was open from December 23 to 26 and heavily oversubscribed at 175.31 times. The company, an engineering solutions provider specializing in aerospace and defense components, impressed with its growth potential and robust business model. Its IPO was a mix of fresh issues and an offer for sale, both valued at ₹250 crore each. The fresh capital is set to fund expansion through new machinery, bolster working capital, and support its subsidiary’s growth while also trimming debt.
Varun Beverages Positioned for Growth
Varun Beverages, PepsiCo’s largest bottler in India, is on the radar of Antique Broking, which has reaffirmed its ‘buy’ rating with a target price of ₹710, indicating a 10% upside from its previous close. The brokerage cites VBL’s strategic moves into emerging categories like energy drinks and dairy products, alongside capacity and geographic expansions, as key drivers for sustained growth in both volumes and margins. Recent acquisitions in Africa have bolstered VBL’s growth story. The company acquired PepsiCo’s manufacturing and distribution rights in Tanzania, a market with an estimated 200 million cases annually and a 34% PepsiCo market share, for ₹1,750 crore. This acquisition, priced attractively at an FY24 EV/sales of 1.2x, offers immediate double-digit growth potential. In Ghana, VBL’s ₹190 crore acquisition of a smaller market with an 11% PepsiCo share provides an entry point into West Africa, promising future growth opportunities. These expansions are underpinned by a robust financial strategy. VBL recently raised ₹7,500 crore through a QIP at ₹565 per share, reducing its debt burden and turning the company net cash positive. This financial flexibility enables the firm to fund acquisitions, including an increased stake in Lunarmech Technologies and further international ventures.
Adani Green Energy Stock Dips Amid Leadership Transition
Shares of Adani Green Energy (AGEL) declined by 2.3% today, reaching ₹1,053.25 on the BSE, following the announcement of a key leadership transition. The company disclosed that Amit Singh, the current CEO, will step down effective March 31, 2025, to take on a new role within the Adani Group. Ashish Khanna, currently CEO of the International Energy Business for the Adani Group, will succeed Singh as CEO starting April 1, 2025. In an exchange filing, AGEL confirmed that the changes were approved at its Board of Directors meeting held on December 30, 2024. Adani Green Energy, known for its extensive renewable energy portfolio, is India’s largest and among the world’s leading clean energy companies. However, the company’s shares have been under pressure. Over the past year, the stock has declined by 34.4%, with sharper drops of 41.4% over the last six months and 45% in the past three months, as per BSE analytics. The prolonged downward trend highlights growing investor concerns, though the leadership change could signal strategic shifts for the company in the future.
RVNL’s Bid Victory Sends Shares Soaring
Shares of Rail Vikas Nigam (RVNL) surged 4.6% to hit a fresh high of Rs 427.90 on Tuesday, catching the eye of investors. The reason behind the jump? RVNL bagged the lowest bid (L1) for a significant project worth Rs 137.16 crore with Central Railway. The deal involves upgrading power infrastructure for the Bhusaval-Khandwa railway sections, an essential move to handle a hefty 3000 MT loading target. In its official announcement, RVNL detailed the project, which includes designing, supplying, and commissioning traction substations and sectioning posts as part of an effort to modernize the region’s 132/55 KV traction system. And here’s the kicker—the project is slated for completion in just 12 months. This fresh win adds to a solid track record, with RVNL shares already up a whopping 125% over the past year and 124% this calendar year. Despite the positive news, the stock has stumbled in recent months. RVNL shares are down about 23% over the last six months, with a minor dip of 1.8% in the past three months.
Easy Trip Planners Founder Plans Stake Sale
Easy Trip Planners’ stock took a sharp dive on Tuesday, dropping 9.8% to hit a low of Rs 15.38. Promoter and co-founder, Nishant Pitti, is set to sell his remaining 14.21% stake in the company, valued at a hefty Rs 780 crore. This block deal, involving the sale of 50 crore shares at Rs 15.60 each, has triggered investor jitters, with institutional players like CRAFT Emerging Market Fund and Eminence Global Fund expected to join in. The timing is a bit off, as the company’s flagship platform, EaseMyTrip, just posted a modest gain of 2.72% on the NSE, closing at Rs 16.98. But the Pitti family’s moves have raised questions—Nishant had already offloaded 14% of his shares back in September for Rs 920 crore, leaving many wondering if more selling pressure could be on the horizon. It’s been a rough ride for Easy Trip—its stock is down 17% over the last six months and 35% over the past two years. With the promoter’s stake sale weighing on sentiment, the next few days might see more pressure. Keep an eye on the developments, as this stock could be in for some turbulence.
Overview
The Indian stock markets ended the last trading session of 2024 with barely a scratch, as the BSE Sensex and NSE Nifty 50 both recovered from earlier losses but closed nearly unchanged. The Sensex dipped to a low of 77,561, weighed down by global market weakness, before bouncing back to 78,248. It ultimately finished the day at 78,139, down 0.14%, or 109 points. The Nifty followed suit, falling to 23,460 but rebounding to 23,690, closing at 23,644.80—virtually flat. The India VIX, a measure of market anxiety, spiked 3.5% to 14.47, indicating a slight increase in volatility.
The losses on Tuesday were largely driven by declines in IT and select banking stocks. Tech giants like Infosys, TCS, and Tech Mahindra took a hit, while banking behemoths like SBI Life and Adani Enterprises joined the downtrend. On the other hand, stocks like Bharat Electronics, ONGC, Kotak Bank, and Coal India bucked the trend, posting gains.
Oil prices showed a modest uptick, with Brent Crude and WTI both rising 0.8%. Gold, Silver, Copper, and Natural Gas have delivered stellar returns, with year-to-date gains ranging from 9.6% to 53.66%, according to Anuj Gupta, Head of Commodity & Currency at HDFC Securities.