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POST-MARKET REPORT
Indian stock market benchmarks—the Sensex and the Nifty 50—ended the calendar year 2024 (CY24) with modest gains.
On the last day of the year, December 31, the Sensex closed 109 points, or 0.14 percent, down at 78,139.01, while the Nifty 50 settled at 23,644.80, down 0.10 percent.
Nifty IT lost the most by 1.44 percent. Nifty Bank also slipped by 0.18 percent, while the Private Bank index edged up by 0.07 percent. The PSU Bank index, however, clocked a significant gain of 0.73 percent.
With a gain of 1.06 percent, the Nifty Oil and Gas index ended as the top gainer among sectoral indices.
Mid and small-cap indices outperformed the benchmark indices as the BSE Midcap index climbed 0.13 percent while the BSE Smallcap index rose 0.71 percent.
The rupee closed at 85.6150 to the U.S. dollar, down nearly 0.1% on the last trading day of the year.
STOCKS TODAY
Avanti Feeds: Shares of shrimp farming companies–Avanti Feeds and Apex Frozen Foods surged after domestic brokerage Incred Equities rolled out a strong growth outlook for the industry. Incred sees a strong recovery making its way for the shrimp industry in CY2025, driven by rebounding global demand and reduced competition from Ecuador, where overproduction led to industry consolidation.
Shriram Properties: Shriram Properties shares saw a 4 percent surge following the company’s announcement of the strategic sale of a 3.9-acre land parcel in Chennai. The land has been sold to a prominent South Indian healthcare and educational group and is strategically located on GST Road which holds significant potential for retail or commercial development.
Venus Remedies: Pharma company and injectable manufacturer Venus Remedies has expanded its reach into Eastern Europe, after the company received a Good Manufacturing Practice (GMP) certificate from the government of Moldova, sending shares higher by over 3%. Earlier in December, Venus Remedies also managed to secure Marketing Authorization in the Philippines.
Tata Chemicals: Shares of Tata Chemicals Ltd, Gujarat Heavy Chemicals gained as the government announced a minimum import price for soda ash. In a notification, the Directorate General of Foreign Trade said the import policy for soda ash has been changed from ‘Free’ to ‘Restricted’ and that the minimum import price is Rs 20,108/MT.
RVNL: Rail Vikas Nigam Ltd. shares advanced nearly eight percent in the morning session on the last trading day of 2024 after the railway stock was declared the lowest bidder for two projects. RVNL won a project from the Central Railway worth Rs 137 crore. For the second project, Rail Vikas Nigam Limited emerged as the lowest bidder from the East Coast Railway for a total consideration of Rs 404 crore.