NIFTY TRADES BELOW 25,950 MARK; BROADER MRKT UNDERPERFORMS

The domestic equity benchmarks continued to trade with modest losses in afternoon trade as investors remained cautious amid persistent FII selling. The Nifty traded below the 25,950 mark. Barring the Nifty Media index, all other sectoral indices on the NSE traded in the red, with the Realty, Consumer Durables and Healthcare indices declining the most.

At 13:26 ST, the barometer index, the S&P BSE Sensex declined 339.87 points or 0.40% to 84,702.37. The Nifty 50 index lost 96.60 points or 0.37% to 25,945.70.

The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index fell 0.60% and the S&P BSE Small-Cap index dropped 0.76%.

The market breadth was weak. On the BSE, 1,395 shares rose and 2,811 shares fell. A total of 214 shares were unchanged.

Gainers & Losers:

Tata Steel (up 1.90%), Grasim Industries (up 1.09%), Tata Consumer Products (up 1.09%), Nestle India (up 0.57%) and Oil & Natural Gas Corporation (up 0.51%) were the major Nifty50 gainers.

Power Grid Corporation of India (down 1.90%), Adani Ports and Special Economic Zone (down 1.59%), Trent (down 1.48%), Hindalco Industries (down 1.20%) and HCL Technologies (down 1.07%) were the major Nifty50 losers.

Stocks in Spotlight:

Larsen & Toubro (L&T) rose 0.02%. The company announced that its transportation infrastructure business vertical has secured a significant order for Hyderabad Greenfield Radial Road.

Coforge shed 0.01%. The company said that it has signed definitive agreements to acquire Encora, an AI native firm born in the Silicon Valley with deep strengths across AI driven engineering underlaid by Cloud and Data.

Siyaram Recycling Industries added 0.11%. The company has secured a significant order from The Supreme Industries, Jalgaon (F) � MDP, for the supply of 1/2" female insert (new modified) and female insert 1/2" CPVC/aqua topper.

Ceigall India gained 0.29%. The company�s subsidiary, Ceigall Infra Projects has received a LoA from Madhya Pradesh Road Development Corporation for the construction of the Indore�Ujjain access-controlled four-lane greenfield highway.

Vikran Engineering surged 6.25% after it has secured letter of awards (LoA) from M.P. Urja Vikas Nigam for the implementation of power plants with a total capacity of 45.75 MW AC in Vidisha, Madhya Pradesh.

Jindal Steel rose 0.66%. The company announced a significant expansion of its structural steel manufacturing capabilities at its Raigarh facility. This expansion would double the company�s existing structural steel capacity from 1.2 million tonnes per annum (MTPA) to 2.4 MTPA by mid 2028.

VA Tech Wabag lost 0.73%. The company has received a letter of award from the Saudi Water Authority for a large repeat EPC order to build a 50 MLD advanced BWRO plant at Aljouf, Saudi Arabia.

JD Cables declined 2.32%. The company announced that it has secured orders worth Rs 8.81 crore from reputed EPC contractors for cable supply operations in Bihar and Jharkhand.

Solarworld Energy Solutions climbed 9.81% after the company announced that it has received a letter of award for the EPC package for the development of a 250 MWac grid-connected solar PV project worth Rs 725.33 crore from NTPC Renewable Energy.

Global Markets:

European market declined, while most Asian markets advanced on Monday as investors kicked off the final trading week of the year.

Prices of spot silver rose to a fresh record high of above $80 per ounce before pulling back sharply to $77. Silver�s recent surge was driven by speculative buying and lingering supply tightness, said experts.

Media report further stated silver�s rally this year reflects a depletion of freely traded inventory, amplifying price moves as demand increases.

On Friday stateside, the S&P 500 reached a new high and posted weekly gains as traders came back from the Christmas holiday.

The broad market index closed down 0.03% to end at 6,929.94. At its high, the S&P 500 was up 0.2%, reaching 6,945.77. The Nasdaq Composite slipped 0.09% and closed at 23,593.10. The Dow Jones Industrial Average fell 20.19 points, or 0.04%, and settled at 48,710.97.

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