Stock Market Updates: Sensex, Nifty Trade Flat; Vodafone Idea Gains, Auto Stocks Skid

The Indian stock market on the first day of the new year 2024 was trading flat. Traders and investors remained cautious. At 13:25 hours, Sensex was down 8 points and was trading at the 72231 level. Nifty added 11 points and was trading at the 21743 mark.

Most sectors were in the green, with Nifty PSU Bank up 1 percent, Nifty Energy 0.4 percent, and Nifty Metal 0.6 percent. The Nifty Auto index ticked slightly higher as December auto sales numbers trickled in.

Among the sectors, buying was seen in media, PSU Bank, and oil & gas sectors. On the other hand, the auto space was trading in the red.

Top Nifty50 Gainers:

Also read: Top 2 Buy Ideas for New Year 2024 Which Can Fetch Up To 15% Return

Top Nifty50 Losers:

Stocks on the radar:

Vodafone Idea

The surge in the stock price of Vodafone Idea by 10 percent intraday on January 1, 2024, resulted from reports suggesting that the promoters of the embattled telco supposedly infused equity, causing the increase in the stock price in the last two sessions.

Bharat Heavy Electricals

Media reports stated that amid reports of the engineering and manufacturing enterprise BHEL emerging as the lowest bidder for NLC’s Odisha project, outbidding L&T, BHEL’s share price gained over 2 percent. Additionally, reports indicated that BHEL has secured a Rs 19,422-crore job from NLC for a Talabira project.

Bajaj Auto

Following the company’s announcement of a weak set of figures in December, the stock price of the 2 & 3-wheeler maker Bajaj Auto dropped by over a percent. According to data from the exchange filing, the company’s total sales in December exhibited a 16 percent growth from December 2022. Specifically, its domestic two-wheeler segment surged by 26 percent from the same month last year, selling 1.58 lakh units. Additionally, exports of the same segment marginally increased by 3 percent to reach 1.24 lakh units in December.

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.