Stock Market Live Updates: Sensex, Nifty Flat Amid Volatility; Realty, FMCG Under Pressure

The Indian stock market was trading flat on January 10, 2024, following weak Asian cues. At 12:35 PM, Sensex was trading lower by 39 points at the 71347 mark. Nifty shed 23 points and was trading at the 21527 level.

Around 1078 stocks advanced and 1298 declined while 86 remained unchanged.

Among the sectors, Nifty Media jumped over 3 percent led by Network18 and TV18 Broadcast which zoomed 16-20 percent each followed by Dish TV, Hathway Cable, and DB Corp which added 4-7 percent each.

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However, Nifty Realty shed a percent while selling was also seen in PSU Banks and FMCG space.

Top Nifty50 Gainers:

Top Nifty50 Losers:

Stocks in the news:

Manappuram Finance: down 4.76%

Manappuram Finance‘s share price slumped over 7 percent on January 10, 2024. The market regulator SEBI has put the IPO of its arm Asirvad Microfinance in abeyance, according to media reports. Manappuram Finance informed the exchanges that Asirvad Micro Finance, its subsidiary, had filed a Draft Red Herring Prospectus (DHRP) with the Securities and Exchange Board of India (SEBI) on October 5.

SpiceJet: up 5%

Shares of SpiceJet zoomed 5 percent a day before the company’s annual general meeting, where the beleaguered airline plans to seek approval from stakeholders to raise Rs 2,250 crore to fuel its expansion and revitalisation. The airline also unveiled its vision for SpiceJet 3.0, aimed at bringing 25 grounded aircraft back into operation. The firm’s ambitious revitalisation plans have also garnered interest from the investor community, with reportedly 64 entities showing a willingness to invest in the low-cost carrier.

Disclaimer: The information provided in this blog post is for informational purposes only and should not be construed as investment or trading advice. The author is not a financial advisor and does not have any professional qualifications in this area. The author does not guarantee the accuracy or completeness of the information provided. Any action you take based on the information in this blog post is done at your own risk. Please consult with a financial advisor before making any investment decisions.