Stock Market Highlights: Nifty, Sensex end flat but off lows, broader markets relatively outperform headline indices

Stay tuned for other updates on our website: CNBCTV18.com.

You can follow us on Twitter: @CNBCTV18Live @CNBCTV18News

And on Facebook, LinkedIn, Instagram and Telegram

Download our mobile app for Android and iOS platforms

Broader Markets Relatively Outperform Sensex & Nifty

Sensex Gains 2 Points To 81,510 While Nifty Falls 9 Points To 24,610

Midcap Index Gains 137 Points To 59,135 & Nifty Bank 170 Points To 53,578

IT Stocks Amongst Top Nifty Gainers, HCLTech, Wipro, Infosys Up Over 1% Each

Bajaj Finserv Aims For `20,000 Cr Net Profit By FY29, Stock Up Nearly 2%

All Adani Group Stocks Ex-Ambuja Cem End In The Red, Adani Green Falls More Than 3%

Greaves Cotton Jumps Nearly 20% As Vijay Kedia Buys Stake Worth `25 Crore

Raymond Moves Higher With Healthy Volumes, Stock Surges More Than 10%

Positive Brokerage Note Helps Nippon Life Gain 9%

Religare Rises 4% As RBI Allows Burman Family To Increase Stake

Swiggy Sees Profit Booking, Falls 4% From Highs

Syngene Sees Buying After 2% Equity Changes Hands, Stock Up 2%

Glenmark Ph Rises 2% On Positive Response Rate For Its Blood Cancer Drug

Weak November Premium Data Weighs On LIC, Stock Falls 3%

Market Breadth Neutral With Advance-Decline Ratio At 1:1

Bajaj Finserv aims to clock ₹3 lakh crore in total income by 2028-29 financial year, up from ₹1.1 lakh crore in FY24. It has set the target at ₹20,000 crore for profit after tax (PAT) for the next five years.

Read more here

Bajaj Group’s non-banking financial firm Bajaj Finserv gave a wide range of guidance for five years at an analyst presentation on December 10. The NBFC eyes more than doubling its income over the next five years.

Read more here

#BajajFinserv expects profit to rise 2.5x & total income to increase nearly 2x in 5 years#Guidance #BajajFinance pic.twitter.com/773tNeaowy

— CNBC-TV18 (@CNBCTV18Live) December 10, 2024

Systematic Investment Plan (SIP) contributions remained steady in November 2024 at ₹25,320 crore, nearly matching October’s ₹25,323 crore. However, the number of new SIPs dropped to 49,46,408 from 63,69,919 in October.

This slight decline in registrations indicates a shift in investor sentiment, possibly due to market fluctuations.

Read more here

Gujarat Gas, a state-run natural gas distributor, has raised industrial gas prices for its Morbi customers by ₹2.27 per standard cubic metre (scm), bringing the price to ₹46.95 per scm.

The price hike will take effect from December 11, according to sources speaking to CNBC TV18.

Read more here

Sanjay Malhotra has been named the next Reserve Bank of India (RBI) governor for a three-year term. Malhotra’s appointment has triggered varied reactions from brokerages, with many highlighting the challenges he will face and the expectations for continuity in monetary policy.

Read more here

Shares of ITI Ltd., the state-run telecom products manufacturer, has surged another 7.2% on Tuesday, extending its gains for the third straight session.

The stock had surged 14% on Monday and another 13% last Friday as well.

Read more here

#JustIn | Gujarat Gas hikes industrial gas prices for Morbi Customers by Rs 2.27/scm To Rs 46.95/scm, sources to @sonalbhutra pic.twitter.com/ltC4e0eD0X

— CNBC-TV18 (@CNBCTV18Live) December 10, 2024

Religare Enterprises on December 10 announced that the Reserve Bank of India (RBI) has allowed the Burman family to increase its stake in the company. Both the Burman family and Religare Group need to consolidate NBFCs in a resulting structure by March 31, 2026, according to the company’s statement.

Read more here

The Nifty 50 index is trading 0.23% in the red at 24,562.9. As many as 34 index stocks are in the red, and 16 advance. Trent (-1.74%), Bharti Airtel (-1.72%) and Adani Ports (-1.58%) are the top losers. On the other hand, Shriram Finance (2.21%), Wipro (2.12%) and Infosys (1.32%) are the top gainers.

HDFC Bank has raised its marginal cost of funds-based lending rate (MCLR) for short-term tenures by up to 5 basis points (bps). The revised rates, effective from December 7, 2024, range from 9.20% to 9.50%.

Read more here

#JustIN | RBI allows #Burman family to increase stake in #ReligareEnt

Both Burman & Religare Grp to consolidate NBFCs in resulting structure/group, consolidation needs to be done latest by March 31, 2026 pic.twitter.com/CW4HUrptFz

— CNBC-TV18 (@CNBCTV18Live) December 10, 2024

Equity mutual fund inflows in November 2024 totaled ₹35,927.3 crore, a decrease of 14.1% compared to ₹41,865.4 crore in October, according to Association for Mutual Funds in India (AMFI) data.

Read more here

#NovemberMutualFund | SIP Inflows At ₹25,320 Cr Vs ₹25,323 Cr (MoM)#SIPInflows #MutualFund pic.twitter.com/Mo393ZhleX

— CNBC-TV18 (@CNBCTV18Live) December 10, 2024

Here are a couple of stock recommendations by Shilpa Rout of Prabhudas Lilladher:

Buy Metropolis Healthcare for a target price of ₹2,350-2,400 with a stop loss of ₹2,150
Buy Birlasoft for a target price of ₹645-650 with a stop loss of ₹600

On his last day as the Reserve Bank of India (RBI) Governor, Shaktikanta Das recalled how he set out on December 12, 2018 with an aim to drive a team oriented and consultative approach at the central bank of the country.

Read more here

#NovemberMutualFund | Net Equity Inflow At ₹35,927.3 Cr Vs ₹41,865.4 Cr (MoM)

Here’s more pic.twitter.com/pwsMC4KbJ8

— CNBC-TV18 (@CNBCTV18Live) December 10, 2024

Shares of Nippon Life India AMC Ltd. surged as much as 7.4% on Tuesday, December 10, to ₹788.6, which is a 52-week high for the stock.

The move comes after brokerage firm Motilal Oswal projected that the stock will hit levels of ₹900, implyig a potential upside of 25% from Monday’s closing levels.

Read more here

Here are a couple of stock recommendations by technical analyst Mitessh Thakkar:

Buy Infosys for a target price of ₹2,020-2,025 with a stop loss of ₹1,930
Buy L&T Finance for a target price of ₹157 with a stop loss of ₹147.50