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WEEKLY REPORT
The Indian Equity indices ended the week higher on Friday, but the losses over the week were not fully recovered, influenced by mixed global signals and uncertainty surrounding interest rate trajectories and inflation trends.
BSE Sensex index lost -70.16 points, -0.08% to finish at 84,929.36, while Nifty50 added +47.15 points, +0.18% to finish at 25,966.40.
During the week, Tata Elxsi, Vedanta, Shriram Finance, Interglobe Aviation, and Ashok Leyland were among the top gainers, while the top losers were Hitachi Energy, Chola Invest, SAIL, Axis Bank, and Cummins.
Among the sectoral indices, Metals stole the spotlight, followed by Consumer durables, IT, and PSU Banks. While the Financial Services, Bank Nifty, Defence, and Pharma ended lower.
The Foreign Institutional Investors (FIIs) turned net buyers for the last three consecutive sessions of the week, but they remained net sellers for the week as they sold equities of only Rs 251.86 crore, as compared to last week’s selling of Rs 9,201.89 crore. On the other hand, Domestic Institutional Investors (DII) continued their buying this week, also as they bought equities worth Rs 12,061.92 crore.
Among the broader market indices, the BSE Large-cap index, BSE Mid-cap index, and the Small-cap indices gained 0.09, 0.58, and 0.18 percent, respectively, this week.
The Indian rupee recovered the losses from the previous week and ended higher, supported by strong domestic flows despite global volatility, by ending at ₹89.58 per dollar on December 19 compared to ₹90.55 per dollar on December 12.
ECONOMY
Food Delivery Platforms Double Economic Footprint in Two Years
Food delivery platforms sharply expanded their economic footprint in FY24, with the sector’s contribution to India’s economy nearly doubling over two years and growing far faster than overall GDP, even as the country recorded about 9 percent real economic growth. This expansion reflects rapid consumer adoption, increased orders, and deeper market penetration beyond major cities. The rise has also supported growth in allied sectors like cloud kitchens, logistics, and digital payments.
Euro Zone Consumer Confidence Falls in December
Euro zone consumer confidence fell by 0.4 points in December, dropping to -14.6, below forecasts and lower than November’s level. This decline suggests households in the region remain cautious, potentially dampening spending and economic growth as 2025 draws to a close. In the European Union as a whole, consumer sentiment fell by -0.1 points to -13.7.
STOCKS IN NEWS
Interglobe Aviation
The shares of IndiGo-parent Interglobe Aviation jumped 4.23 percent over the week after CEO Pieter Elbers told employees on December 18, over a video message that “the worst is behind us”. This comes after the airline faced a crisis earlier this month, leading to massive cancellations and chaos.
Ather Energy
Ather Energy shares rose over 9 percent this week after the company informed stock exchanges that its board has approved plans to foray into auto insurance services through the incorporation of a wholly owned subsidiary. The proposed entity will operate as a corporate agent.
Shriram Finance
Shares of Shriram Finance jumped 5.83 percent this week after Japan’s MUFG announced it will acquire a 20% stake in the NBFC for around ₹39,600 crore through preferential allotment of equity shares. Earlier, the stock had risen over 3% as the company’s board scheduled a meeting to consider fundraising via rights issue, preferential allotment, QIP, or other routes.
Vodafone Idea
The shares of Vodafone Idea (VI) jumped more than 2 percent by the end of the week after the company announced that its subsidiary had raised Rs 3,300 crore through the issuance of Non-Convertible Debentures (NCDs). Additionally, CLSA said that the government may consider a partial relief of AGR dues for the telco.
Ola Electric Mobility
Shares of Ola Electric fell 5.78 percent this week. This comes after the electric two-wheeler manufacturer’s CEO Bhavish Aggarwal completed the sale of part of his stake to repay a ₹260 crore loan. With this, all promoter share pledges have been fully cleared, and around 3.93% pledged shares were released.
Source – Moneycontrol