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POST-MARKET REPORT
The Indian stock market benchmark- the Nifty 50 – ended its three-day losing streak with gains on December 11, driven by heavyweights like Infosys and Bajaj Finance, despite a decline in the Nifty Bank and PSU Bank indices.
At the close, the Sensex gained 16.09 points or 0.02 percent to settle at 81,526.14, while the Nifty rose 31.75 points or 0.13 percent to 24,641.80. The market breadth showed 2,053 stocks advancing, 1,772 declining, and 109 remaining unchanged.
Among the sectoral indices, the Nifty Bank fell in the red while the PSU Bank index declined almost 1 percent.
Nifty PSU Bank lost almost 1 percent, ending as the top loser among sectoral indices.
Nifty Media, Nifty Bank, and Nifty Private Bank indices also ended in the red, falling up to half a percent. On the other hand, Nifty Consumer Durables, FMCG, IT, and Auto indices rose to half a percent.
Mid and small-caps continued their outperformance. The BSE Midcap index rose 0.25 percent, while the Smallcap index climbed 0.35 percent.
STOCKS TODAY
Bajaj Finance: Shares gained over 2 percent a day after its investor meeting where the company shared upbeat guidance on customer franchise and talked about the Long-Range Strategy and AI pivot with analysts. Rajeev Jain, MD, Bajaj Finance said the NBFC aims to become BFL 3.0 – powered by fintech and AI – in its pivot over the next 4-5 years. “BFL is currently implementing 29 GenAI use cases across 25 work streams, which will deliver an annual cost save of Rs 150 crore in FY26 alone. But more importantly, GenAI adoption has helped us build a much clearer strategic roadmap,” Bajaj Finance said in its presentation to investors.
PNC Infratech: Shares zoomed over 12 percent after the company earned a bonus of Rs 4.4 crore due to the early completion of a road project in Uttar Pradesh. The company completed a Rs 738 crore project, awarded by the National Highways Authority of India, for the four laning of National Highway-53, two months before its stipulated time, making it eligible to earn an early completion bonus.
Swiggy: Shares dropped over 4 percent in early trade on December 11, erasing all of its previous day’s losses as investors rushed to book profits after the one-month lock-in period for anchor investors expired today. Following the lock-in expiry, as many as 6.5 crore shares of Swiggy, or a 3 percent stake in the company, became eligible to trade, opening the doors for anchor investors to go ahead and offload 50 percent of their holdings in the stock if they wished to do so.
Bharat Global Developers: Shares were locked in a 5 percent upper circuit after securing a Rs 650 crore annual contract from Tata Agro and Consumer Products for supplying premium agricultural commodities. The contract involves a ‘continuous supply of significant terms and conditions of premium agricultural commodities on demand, executed on a phased basis throughout the year’, the company said in an exchange filing on December 11. Payment terms include ‘periodic settlements aligned with delivery schedules’, the company added.
Avenue Supermarts: Global brokerage Goldman Sachs reiterated its bearishness on retail major Avenue Supermarts, the parent of supermarket player DMart, as its competitive moat faces increasing pressure. As a result, shares of the consumer firm slipped nearly three percent. The brokerage added that DMart does not have any competitive advantage in fresh food categories in urban settings, and large sections of India’s grocery market are not addressable by DMart.