Stock market today: The Indian stock market ended in the red on Friday, December 26, as continued selling pressure weighed on sentiment in the absence of fresh cues and amid mixed global signals.
The Sensex fell 367 points, or 0.43%, to settle at 85,041.45, while the Nifty 50 dropped 100 points, or 0.38%, closing at 26,042.30.
Despite the Friday decline, benchmark indices recorded modest gains over the week. For the week ended December 26, the Sensex inched up 112 points, or 0.13%, breaking a two-week losing streak, while the Nifty 50 advanced 0.30%, ending its three-week run of losses.
“Benchmark equity indices ended lower on Friday, December 26, as profit booking in a holiday-truncated week and persistent FII selling weighed on investor sentiment. The Sensex declined 367.25 points, or 0.43%, to settle at 85,041.45, while the Nifty slipped 99.80 points, or 0.38%, to close at 26,042.30. Despite the subdued finish, both the Nifty and Sensex gained around 0.4% for the week, poised to snap a three-week losing streak, supported by strength in metal stocks amid improving demand cues from China, a softer U.S. dollar, and a stable U.S. growth outlook,” said brokerage firm Bajaj Broking.
Stocks to watch
Against this backdrop, here’s a list of stocks that may attract investor interest and are likely to experience some movement today.
Coforge
IT services firm Coforge announced plans to acquire AI company Encora for an enterprise value of $2.35 billion, aiming to strengthen its in-house artificial intelligence capabilities and broaden its footprint in the US and Latin American markets.
Punjab National Bank
State-run Punjab National Bank (PNB) said on Friday that it has flagged a ₹2,434 crore borrowing fraud to the Reserve Bank of India (RBI), linked to the former promoters of SREI Equipment Finance (SEFL) and SREI Infrastructure Finance (SIFL).
Vikran Engineering
Vikran Engineering has received letters of award from MP Urja Vikas Nigam Ltd to develop grid-connected solar power projects in Madhya Pradesh with a total capacity of 45.75 MW (AC).
NBCC
NBCC (India) is set to acquire a 21.23-acre land parcel in South Delhi under a settlement with the Delhi government and intends to develop a mixed-use real estate project on the site, with projected revenue of around ₹8,500 crore.
Vedanta
The Andhra Pradesh government has granted Vedanta Ltd (Cairn Oil & Gas Division) a conditional “No Objection Certificate” to drill 20 onshore wells in Krishna district.
Solar World Energy Solutions
Solar World Energy Solutions has won an EPC contract valued at approximately ₹725.33 crore from NTPC Renewable Energy Limited to develop a 250 MWac grid-connected solar photovoltaic project.
Lloyds Enterprises
The company has signed loan agreements to secure financial support of ₹361 crore to fulfil the remaining payment for the conversion of warrants of Lloyds Metals and Energy held by it.
Timex Group
Promoter Timex Group Luxury Watches BV is set to divest an 8.93% stake in the company through an offer-for-sale (OFS) scheduled for December 29-30.
Ceigall India
Ceigall India’s subsidiary has been issued a provisional certificate by the National Highways Authority of India for a highway project in Punjab.
Great Eastern Shipping
Great Eastern Shipping has entered into an agreement to sell its very large gas carrier, Jag Vishnu, to an independent third party.