NIFTY50 and Sensex close lower, Tata Motors and Tata Consumer zoom; Stock Market LIVE Highlights

Thank you, readers! That's all from Upstox.com's live market coverage on 29 December 2023. We’ll be back with our live coverage at 8:00 am on Monday.

The NIFTY Midcap 100 index (+0.8%) higher today. The NIFTY Smallcap 100 Index also closed in green, up 0.6%.

The NIFTY Financial Services (-0.2%) index closed lower today, with IEX (+3.5%) and Chola Fin (+1.9%) being the top gainers and SBI (-1.4%) and Muthoot Finance (-0.4%) being the top losers.

The BANK NIFTY (-0.4%) index closed in the red. Weakness in ICICI Bank (-0.7%), SBI (-1.4%) and Kotak Mahindra Bank (-1.4%) dragged down the index.

India’s benchmark indices – NIFTY50 (-0.2%) and Sensex (-0.2%) – closed lower, snapping a five-day winning streak. Out of the NIFTY50 universe, 31 stocks closed in the red. Tata Group stocks – Tata Motors and Tata Consumer – bucked the trend and were the top gainers, while BPCL, ONGC and SBI are the top losers. Meanwhile, after making a tepid debut, Innova Captab surged 20%.

• Long build-up: Tata Consumer, Tata Motors, Britannia, Maruti Suzuki and Nestle India
• Short build-up: State Bank of India, Infosys, ITC, Cipla and Apollo Hospitals

Shares of the power infrastructure company are up 2.9% today.

This comes after it secured orders worth ₹1,750 crore.

The orders include setting up of transmission substations and advanced metering infrastructure.

India’s benchmark indices – NIFTY50 (-0.4%) and Sensex (-0.3%) – continue to trade in the red. Out of the NIFTY50 universe, 33 stocks are in the red. Tata Group stocks – Tata Motors, Tata Consumer and Tata Steel – are the top gainers, while BPCL, ONGC and SBI are the top losers. Meanwhile, Innova Captab made a tepid debut today, listing at a premium of 0.9% compared to the issue price.

Source: NSE

The microfinance company has entered into an agreement with Karnataka Bank for co-lending. These lenders plan to lend to microfinance borrowers.

Satin Creditcare Network will also act as a service provider and manage collections and monitoring of the loans.

Stocks of these two lenders have been on an upward trend in 2023. Shares of Satin Creditcare Network and Karnataka Bank are up 53% and 54%, respectively.