After opening the day lower, the Indian benchmark remained in negative territory as the session progressed and ended the day lower.Benchmark equity indices BSE Sensex and NSE Nifty50 ended in the red, mirroring their Asian peers.At the closing bell, the BSE Sensex closed lower by 384 points (down 0.5%).Meanwhile, the NSE Nifty closed lower by 100 points (down 0.4%).IndusInd Bank, Bajaj Finance, and HDFC Life Insurance are among the top gainers today.TCS, Titan, and BPCL on the other hand, were among the top losers today.The GIFT Nifty was trading at 24,717, down by 61 points at the time of writing.The BSE MidCap index ended 0.7% higher andthe BSE SmallCap index ended 0.5% higher.Sectoral indices were trading mixed today with stocks in the realty sector and auto sector witnessing buying. Meanwhile, stocks inthe metal sector and power sector witnessing selling pressure.Dixon Technologies, Coforge, and Info Edge hit their respective 52-week highs today.The rupee is trading at 84.88 against the US$.Gold prices for the latest contract on MCX are trading marginally higher at Rs 77,227 per 10 grams.Meanwhile, silver prices were trading 0.4% higher at Rs 91,333 per 1 kg.
Why Realty Stocks are RisingIn the news, shares of real estate companies were buzzing in trade on 16 December as investors bet on hopes of strong housing demand in 2025, driven by new launches, imminent rate cuts, and favorable demographic trends. Players like Oberoi Realty, Prestige Estates, and Macrotech Developers led gains within the sector and surged 3-5%.Other stocks, including Mahindra Lifespaces, Phoenix Mills, DLF, Brigade Enterprises, Godrej Properties, and Sobha also rose 1-3%.Gains across these real estate stocks also lifted the Nifty Realty index close to 3% higher, emerging as the best-performing sector in trade today.Recently, a slew of brokerages have also rolled out positive views on the real estate sector, further bolstering investor sentiment.
GE Power Zooms 7%. Here’s WhyMoving on to news from the power sector, shares of GE Power stock surged 7.5% on 16 December after the company received an extension of a Rs 182.7 m purchase order, awarded by the MP Power Generating Co.The order which is stated to be executed within the next three and a half months, is for the supply of boiler parts at Sanjay Gandhi Power Station.As many as three lakh shares of the company changed hands on the exchanges thus far, already exceeding the one-month daily traded average of two lakh shares.The stock has also delivered stellar returns in 2024 so far, as it grew nearly twofold year-to-date.
HBL Power Systems Hits All-Time HighMoving on, HBL Power Systems shares hit a 52-week and an all-time high in the 16 December trade after winning a Rs 15.2 bn KAVACH order.The Delhi-based company informed the shareholders through an exchange filing that it bagged the order from the Chittaranjan Locomotive Works.HBL Power Systems hit a fresh 52-week high of Rs 739.6 per share on the NSE in today’s trading session, rising 6.4%. It was also its an all-time high. The scrip opened with a gain of 4.3% today. The stock has been rising for the last two trading sessions.The fresh order from Chittaranjan Locomotive Works pertains to the supply, installation and commissioning of on-board Train Collision Avoidance System (TCAS) (KAVACH) equipment in 2,200 locomotives.The order is to be completed within 12 months from the date of issue of the purchase order.KAVACH is a Train Collision Avoidance System (TCAS) or Automatic Train Protection System (IRATPS) and offers a safety solution to prevent train collisions.As part of the next phase of Kavach implementation, the project for equipping 10,000 locomotives has been finalised, Railway Minister Ashwini Vaishnaw told the Parliament on 27 November.HBL Power Systems was incorporated in 1983 to manufacture and service different types of batteries, e-mobility, and other products.The business strategy of the company is to identify technology gaps in India and fill them via their intellectual capital.
Why Adani Stocks are FallingMoving on, Adani Group stocks’ combined market capitalisation has fallen by 6.2% or Rs 878.1 bn to Rs 13.31 trillion (tn) in 2024 with the highest erosion seen in Adani Green Energy – a stock in the eye of a storm following the indictment by a US court on bribery charges. There are six other stocks whose m-cap has seen declines this year so far, while three scrips have witnessed an uptick.Adani Group has 11 listed companies in its portfolio with Sanghi Industries as the latest entrant.The company has a market capitalisation of Rs 20.4 bn and it has been excluded from the calculations.More By This Author:
Sensex Today Ends 384 Points Lower; Nifty Below 24,700
