NIFTY50 and SENSEX erase early gains to close marginally higher, Realty stock zoom; Stock Market Highlights

Thank you, readers! That's all from Upstox.com's live market coverage on 9 January 2024. We’ll be back with our live coverage at 8:00 am on Wednesday.

The NIFTY Financial Services (-0.4%) index closed lower today, with SBI Life (+2.2%), HDFC AMC (+1.6%) being the top gainers, while PFC (-3.2%), REC Ltd (-1.8%) being the top losers.

The NIFTY Midcap 100 index (+0.1%) closed higher today. Meanwhile, NIFTY Smallcap 100 Index (+0.4%) closed in the green today.

The BANK NIFTY (-0.44%) index closed lower. Sell-off in HDFC Bank (-0.7%), ICICI Bank (-0.4%), Axis Bank (-0.2%), AU Bank (-3.0%) dragged down the index.

India’s benchmark indices – NIFTY 50 (+0.1%) and SENSEX (+0.04%) – closed marginally higher, erasing the gains witnessed in morning trades. Out of the NIFTY50 universe, 23 stocks closed in red. On the sectoral front, Realty and Auto gained the most, while Media and Financial Services were amongst top losers.

JSW Steel reported a 12% YoY rise in its consolidated crude steel production to 6.87 million tonnes (MT) during the third quarter of FY24. From its India operations, the company produced 6.63 MT of steel, up 9% YoY.

Meanwhile, the company’s share traded lower, down 0.1% after the announcement.

₹1000 crore IPO of Jyoti CNC Automation, a leading manufacturer and supplier of CNC machines was fully subscribed on Day 1. IPO received an overall subscription of 1.79 times as of 3 pm, with retail segment witnessing subscription of 6.6 times.

To know more and apply for this IPO. Click here.

• Tiger Logistics board has approved a 1:10 stock split today, which means 1 equity share with a face value of ₹10 each will be split into 10 equity shares with face value of ₹1 each.

• Following the announcement, the company’s share rose 5.1% intraday and currently trades around ₹829 per share.

• Shares of Tata Motors rose 1.3% after the company announced robust global wholesales data for the third quarter of FY24. Here are the complete update:

• Tata Motors Group global wholesales in Q3 FY24, including Jaguar Land Rover were at 3.38 lakh units, higher by 9% compared to Q3 FY23.

• Global wholesales of commercial vehicles, which includes Tata Daewoo range, was at 98,679 units, up 1% YoY, while global sales of passenger vehicles were at 1.38 lakh units, higher by 1% YoY.

• Global wholesales for Jaguar Land Rover were 101,043 vehicles, higher by 27%. Jaguar wholesales for the quarter were 12,149 vehicles, while Land Rover wholesales for the quarter were 88,894 vehicles.

Source: BSE