Sensex falls 451 points; JSW Energy dips

#Nifty50, India's flagship stock market index is also called the ‘Stock of the Nation’. Launched in 1996, it represents the top 50 companies across dynamic sectors, capturing India's economic growth and market diversity. Watch the video to explore key interesting facts on NIFTY.… pic.twitter.com/dr3UgFqWvp

— NSE India (@NSEIndia) December 30, 2024

The Indian stock market experienced a volatile session on Monday, December 30, with the benchmark Sensex falling by over 451 points. The Nifty also declined by 168 points, closing at 23,644. The S&P BSE Sensex dropped 450.94 points or 0.57% to close at 78,248.13. The NSE Nifty50 declined 168.50 points or 0.71% to settle at 23,644.90. Among the Sensex constituents, Tata Motors fell the most by 2.24%.

With US stock futures currently down 1-1.5% in what has been a notably weak December, a major question facing investors is whether
Recent selling is simply profit taking/portfolio rebalancing in an illiquid market after a strong 2024 as a whole (e.g., S&P up 25% and the Nasdaq… pic.twitter.com/Xj6WTwE1z2

— Mohamed A. El-Erian (@elerianm) December 30, 2024

Titan, Tata Steel, State Bank of India, Mahindra & Mahindra, NTPC, ICICI Bank, Maruti, HDFC Bank, Reliance Industries, and Infosys were among the major laggards. Zomato, Tech Mahindra, HCL Tech, and IndusInd Bank were among the gainers.

Stock under Rs 500: PSU share zooms 18% in one day – Do you own?https://t.co/VtGDj2oQJL

— ET NOW (@ETNOWlive) December 30, 2024

The state-owned Power Finance Corporation reported that its arm, PFC Consulting, has incorporated a special purpose vehicle to set up an electricity transmission system in Gujarat, aimed at supporting the green hydrogen and ammonia manufacturing sector. NBCC, a state-owned construction company, secured contracts worth Rs 368 crore, including a Rs 300 crore development project in Varanasi.

#OnETNOW | Sharad Mahendra of JSW Energy shares benchmarks for the company's largest acquisition. Tune in!

Watch the full interview here: https://t.co/Om6iGyODR4@JSWEnergy @_anishaj @AyeshaFaridi1 @SnehiShah11 pic.twitter.com/KhgeyXp1a1

— ET NOW (@ETNOWlive) December 30, 2024

Sensex experiences volatile trading session

The Reserve Bank of India allowed prepaid payment instrument holders to make and receive UPI payments through third-party mobile applications, enhancing the usability of digital transactions. Market regulator SEBI imposed a penalty of Rs 54 lakh on Jaiprakash Power Ventures and its senior officials for misrepresenting financial statements. Reliance Industries acquired the oncology-focused healthcare platform Karkinos for Rs 375 crore, expanding its footprint in the healthcare sector. The Indian steel industry seeks policy support to mitigate the impact of increasing imports as it aims for a 300 million tonnes capacity target amid fluctuating raw material prices. The RBI’s decision to enable UPI payments from/to full-KYC prepaid payment instruments (PPIs) through third-party UPI applications marks a significant development in India’s payment systems. The IPO of Unimech Aerospace and Manufacturing Limited received a strong response, being oversubscribed by more than 317 times in certain categories. The listing was met with positive investor sentiment. Shares of Vodafone Idea surged by nearly 7% following the government’s waiver of bank guarantees for spectrum auctions held before the 2021 telecom reforms, which the company hailed as a boost for 4G and 5G investments in India. The day’s trading session was characterized by significant volatility with major indices closing in the red. Market participants focused on key developments in various sectors, including finance, construction, healthcare, and telecommunications.