{
}
The S&P BSE Sensex plummeted nearly 1,000 points, hitting an intra-day low of 80,941.61, amid investor caution ahead of the US Federal Reserve's upcoming meeting. Key factors included a widening trade deficit of $37.8 billion and poor performance from heavyweight stocks like Reliance Industries and HDFC Bank. Despite the overall decline, midcap and smallcap stocks showed slightly better resilience, with only minor losses.
The stock market faced a significant downturn, with the BSE Sensex dropping over 1,000 points and the Nifty 50 declining by 1.4%. Key factors included investor caution ahead of the US Federal Reserve's meeting, fears of foreign institutional investor selling due to China's budget deficit plans, and weak global market cues. Among the major losers were HDFC Bank, Reliance Industries, and TCS, while only ITC and Hindustan Unilever showed gains in the Sensex.
On December 17, 2024, market volatility is viewed as both a threat and an opportunity for investors, with strategies like asset allocation recommended for effective navigation. Notably, Trent's shares surged 126% year-to-date, while NMDC announced a record date for 2:1 bonus shares. Direct retail inflows reached nearly ₹1 trillion, indicating growing investor confidence amid market fluctuations.
UBS has downgraded its target price for IndusInd Bank to ₹1,150 from ₹1,350, reflecting a neutral stance and a 5% cut in EPS for FY25/26. Similarly, Axis Bank and AU Small Finance Bank also saw target reductions. HDFC Bank, ICICI Bank, and Federal Bank remain top picks amid rising non-performing loan risks.Citi maintains a neutral call on Infosys with a target of ₹1,965, noting improvements in discretionary spending, particularly in the US financial services sector. Goldman Sachs favors Syngene and Neuland in the pharma sector while expressing caution on Divi’s, Gland, and Laurus.
On December 12, a significant defense deal was signed to bolster India's military capabilities, aligning with the 'Aatmanirbhar Bharat' initiative. The stock market saw notable movements, with three NSE stocks surpassing their 200-day moving average, while Zomato faced an ₹803 crore GST demand. Additionally, the Cabinet Committee on Security approved a project for 100 K-9 Vajra howitzers, impacting L&T stocks.
Zaggle shares surged 5% on December 9 after announcing a three-year partnership to offer HDFC Bank credit cards bundled with its software for corporate clients. Over the past month, shares have risen 26%, and since its September 2023 listing, they have increased by 2.5 times. The company reported a 64% revenue growth year-on-year for Q2, reaching Rs 302.6 crore, and raised its FY25 topline growth guidance to 50-55%.
The combined market valuation of six of the top-10 most-valued firms increased by Rs 2,03,116.81 crore last week, driven by gains from Tata Consultancy Services (TCS) and HDFC Bank. The BSE benchmark rose by 1,906.33 points, or 2.38%, while the NSE Nifty climbed 546.7 points, or 2.26%. TCS's market valuation surged by Rs 62,574.82 crore, reaching Rs 16,08,782.61 crore.
Indian businesses have outperformed in shareholder returns across 10 of 14 major sectors over the past 20 years, according to DSP Mutual Fund. Notable sectors include aerospace & defence, banks, and FMCG, while oil, telecom, and power lag behind. Despite recent FII outflows of $2.75 billion, net FDI into India also saw a decline in the September quarter.
Emkay Global Financial has reiterated a BUY rating for HDFC Bank, setting a target price of Rs 2,000. The bank has outperformed its peers due to better margins and asset quality, while implementing strategies to reduce its loan-to-deposit ratio and planning an IPO for its NBFC subsidiary, HDB Fin. A potential CRR cut by the RBI could further enhance HDFC Bank's net interest margins.
The combined market valuation of nine of the top-10 most valued firms increased by Rs 2.29 lakh crore last week, driven by a rally in benchmark indices. Life Insurance Corporation of India (LIC) emerged as the biggest gainer, with its valuation rising by Rs 60,656.72 crore to Rs 6,23,202.02 crore. HDFC Bank also saw a significant increase, adding Rs 39,513.97 crore to reach a valuation of Rs 13,73,932.11 crore.
HDFC Bank Ltd
Companies
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
Sensex plunges nearly 1000 points amid trade deficit and Fed meeting concerns
United States Dollar
Indian Rupee
HDFC Bank Ltd
POWERGRID INFRA. INVITS
Reliance Industries Ltd
Bharti Airtel Ltd.
Colgate-Palmolive Company
Emami Limited
CIPLA LTD
Britannia Industries Limited
Adani Enterprises Limited
ICICI Bank Ltd
Larsen & Toubro Ltd
Bajaj Finserv Ltd.
Tata Motors FUT, December 2024,
Shriram Finance Limited
Grasim Industries Ltd
Infosys Ltd
IND
USA
Vk Vijayakumar
Show more
06:28 17.12.2024
stock market crash sensex drops over 1000 points ahead of fed meeting
United States Dollar
HDFC Bank Ltd
JSW Steel Limited
Hero MotoCorp FUT, December 202
Hindustan Unilever Limited
GRASIM RE. 1 PPD UP
Shriram Finance Limited
Reliance Industries Ltd
Bharti Airtel Ltd.
IND
JPN
AUS
CHN
Seema Srivastava
Vk Vijayakumar
Anand James
Show more
06:04 17.12.2024
market volatility presents both challenges and opportunities for investors today
Indian Rupee
HDFC Bank Ltd
Piramal Pharma Limited
Reliance Industries Ltd
IND
Raja Venkatraman
Vaishali Parekh
Show more
01:00 17.12.2024
Brokerage Updates IndusInd Target Price and Upgrades Indian Oil to Buy
Indian Rupee
AU Small Finance Bank Limited
Shriram Finance Limited
Axis Bank Ltd
Bajaj Finserv Ltd.
The Federal Bank Limited
HDFC Bank Ltd
Indian Oil Corporation Limited
Infosys Ltd
ICICI Bank Ltd
IND
Show more
03:43 13.12.2024
Identical Brains Studios plans IPO to raise 19.95 crore in December
United States Dollar
Russian Ruble
Chinese Yuan
MOTILAL OSWAL MUTUAL FUND
Larsen & Toubro Ltd
Airtel Africa Plc
HDFC Bank Ltd
Vishal Mega Mart Ltd.
Zomato Limited
IND
RUS
Donald Trump
Vinod Nair
Show more
02:48 13.12.2024
zaggle shares rise 5 percent on hdfc bank credit card partnership
11:09 09.12.2024
Top Firms Gain Rs 2 Lakh Crore as TCS and HDFC Bank Lead
HDFC Bank Ltd
Hindustan Unilever Limited
Life Insurance Corporation of India
Tata Consultancy Services Limited
Reliance Industries Ltd
ICICI Bank Ltd
State Bank of India
Infosys Ltd
Bharti Airtel Ltd.
ITC
IND
Show more
07:01 08.12.2024
Indian Businesses Outperform in Shareholder Returns Across Major Sectors
06:31 06.12.2024
HDFC Bank Target Price Set at Rs 2000 by Emkay Global Financial
09:33 05.12.2024
LIC leads market surge with significant valuation increase among top firms
06:17 01.12.2024
Trending
Subcategory
Corporate News
AI Innovations
Industry Trends
Startups & Entrepreneurship
Emerging Startups
Funding Rounds & Investments
Fintech Startups
Venture Capital Investments
Economic Indicators
Private Equity Deals
Cryptocurrency Trends
Retail and Consumer Goods
Cybersecurity Innovations & Tech
Product Launches
Global Trade Developments
Stock Market Updates
AI Applications
Market Analysis and Predictions
Industry Mergers & Acquisitions
Crypto Adoption and Integration
Countries:
Companies:
Huawei Technologies CO. Ltd.
NVIDIA Corporation
Nvidia Corporation
Apple Inc.
Google Inc.
Microsoft Corporation
XPeng Inc.
SWIGGY LIMITED
Vecmocon Technologies Ltd.
Emaar Properties PJSC
Deyaar Development PJSC
Maverick Ventures (Israel) 1.5 GP Ltd.
SuperSeed B.V.
Microsoft Corporation Corp.
Toyota Motor Corporation
Berner Kantonalbank AG
Amazon.com Inc.
Medius Holdings Co., Ltd.
SITC International Holdings Company Limited
Firefly AB (publ)
Currencies:
United States Dollar
Euro
Indian Rupee
Chinese Yuan
Swiss Franc
British Pound Sterling
Japanese Yen
South African Rand
Filipino Peso
Norwegian Krone
Offshore Chinese Yuan
People: