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POST-MARKET REPORT
The Benchmark indices extended the losing streak for the third consecutive session on December 18 as investors remained cautious ahead of the Fed rate decision outcome tonight.
At close, the Sensex was down 502.25 points or 0.62 percent at 80,182.20, and the Nifty was down 137.15 points or 0.56 percent at 24,198.85.
On the sectoral front, except pharma (up 1 percent), all other indices ended in the red with auto, energy, PSU Bank, metal, media, and realty down 0.5-2 percent.
Trent, Dr Reddy’s Labs, Cipla, Wipro, and Bajaj Auto were top gainers on the Nifty, while losers included Tata Motors, Bharat Electronics, Power Grid Corp, JSW Steel, and NTPC.
BSE Midcap and Smallcap indices shed 0.5 percent each.
STOCKS TODAY
Enviro Infra Engineers: Shares plunged 10 percent on December 18 as investors await its second-quarter earnings scheduled later today. The sharp fall comes after a massive 26 percent surge during the past five trading sessions. Enviro is a recent entrant in the market, debuting on November 29. The shares are listed at a premium of nearly 50 percent over the issue price.
Bharti Hexacom: Shares surged over 6 percent in an otherwise weak market, on a healthy outlook. The stock’s upward trend comes after two consecutive days of decline, indicating a potential trend reversal. Volumes in the counter were also sharply higher than their one-month daily traded average. JM Financial feels ARPU growth, aided by likely moderation in capex, will drive Bharti Hexacom’s free cash flow growth from FY25.
Swiggy: Shares ended over a percent lower as investors rushed to book profits off the stock’s recent bull run. The stock has been buzzing with strong buying action since its listing in mid-November. The optimism for the company has stemmed from prospects of strong growth prospects for India’s quick commerce segment, which CLSA believes will grow big enough to not just allow multiple players to operate but also prosper. Shares have surged over 33 percent since its market debut.
Akzo Nobel: Shares rallied nearly over 7 percent with talks revolving around a deal value of $2-2.5 billion for the Dulux Paints maker, as the race gets tighter with Pidilite Industries, JSW Paints, and Indigo Paints in the fray, as per a news report in Livemint. The report quoted people familiar with the development who said that both Indigo and JSW Paints are in talks with private equity investors for the stake buy, while Pidilite Industries is offering a share swap deal.
VA Tech WabagL: Shares tanked as much as 14 percent after announcing that the tender for Saudi Arabia’s 300 MLD mega seawater desalination plant, won by the company, has been canceled due to internal administrative procedures. The company received an order worth $317 million (Rs 2,700 crore) from the Saudi Water Authority on September 6.