Stock Market News: Live Updates for December 11, 2024

Updated: December 11, 2024, 08:42 PM IST

As the financial markets continue to evolve, staying updated with real-time stock market news is vital for investors and stakeholders alike. Today’s stock market performances are indicative of broader economic trends as they react to various global factors including corporate earnings, economic indicators, and geopolitical events.

Major Corporate Developments

One significant update comes from Shriram Finance, which announced its exit from the housing finance business by selling an 85% stake to Warburg Pincus for ₹3,929 crore. This move highlights a strategic pivot for Shriram Finance as it focuses on other core areas of its operation, reflecting the dynamic nature of the financial services sector.

Wall Street Performance

In the U.S., stocks showed modest gains spurred by inflation data that boosted hopes for a potential interest rate cut. The Dow Jones Industrial Average increased by 0.12%, while the S&P 500 rose by 0.42%, and the Nasdaq Composite saw a notable increase of 0.74%. This trend reflects a general optimism as markets react favorably to economic indicators that suggest warmer monetary policy may be on the horizon.

Top Gainers and Market Movement

On the Indian markets, the Nifty 50 has snapped a three-day losing streak. The index gained 31.75 points, or 0.13%, to close at 24,610.05. Similarly, the Sensex saw a minor uptick of 16.09 points, settling at 81,510.05. Stocks like Trent, Bajaj Finance, JSW Steel, and Adani Ports & Special Economic Zone are among the most active in today’s trading sessions.

Noteworthy Winners and Losers

Trent, part of the Tata Group, emerged as the only stock in the Nifty 50 to offer multibagger returns this year, with a staggering 125% increase year-to-date. Analysts cautiously point to its strong fundamentals and diversified strategy in emerging sectors, suggesting it could still hold potential.

Conversely, Sarveshwar Foods, a penny stock below ₹20, surged over 12% during intraday trading, delivering an impressive 130% return over the past year. Investors are advised to keep a close eye on such stocks amidst fluctuations.

Insights on Small-Cap Stocks

Two small-cap Public Sector Undertaking (PSU) banks are garnering attention as technical indicators signal potential bullish trends. Small-cap stocks more broadly are reflecting investor interest, with a noted rally in several sectors.

Market Predictions and Future Outlook

Analysts from Kotak Securities project that the Nifty 50 could reach 26,100 by the end of 2025, with further bullish scenarios estimating a rise to 28,800 in a favorable market, while bearish forecasts place targets around 23,300.

The Indian Realty Index proved strong in 2024, gaining 40% year-to-date, positioned as the top sectoral index driven by significant pre-sales and supportive government policies. The continued resilience of this sector could provide investment opportunities in the coming year.

Conclusion

As the market remains volatile yet resilient, investors are urged to stay informed about market trends, stock performances, and potential investment opportunities. Continuous monitoring of economic indicators, corporate news, and global events will be essential as 2024 progresses.

For real-time updates and in-depth analysis, readers can count on our comprehensive stock market coverage and expert insights.

Disclaimer: This article reflects information sourced from AI-generated content and is intended for informational purposes only. Always conduct individual research or consult with a financial advisor before making investment decisions.