Indian Equities End 2024 With Marginal Losses, Weighed Down by IT Stocks

MT Newswires Live

2024-12-31

Indian indices ended flat on the last day of 2024, weighed down by IT stocks.

IT companies saw the most losses amid broader market weakness since the US central bank indicated lesser rate cuts in 2025. IT firms in India get a significant share of their revenue from the US.

At the close, the Sensex slid 109.12 points, or 0.1%, to 78,139.01, while the Nifty 50 rose 0.10 points, to 23,644.80.

Bharat Electronics (NSE:BEL, BOM:500049) emerged as the top gainer on Tuesday, with shares rising 3%, followed by Oil & Natural Gas Corporation (NSE:ONGC, BOM:500312), and Kotak Mahindra Bank (NSE:KOTAKBANK, BOM:500247).

Conversely, Adani Enterprises (NSE:ADANIENT, BOM:512599), Tech Mahindra (NSE:TECHM, BOM:532755), and Tata Consultancy Services (NSE:TCS, BOM:532540).

In corporate news, Mazagon Dock Shipbuilders (NSE:MAZDOCK, BOM:543237) secured a contract worth 19.90 billion Indian rupees from India's defense ministry for the construction of an air independent propulsion (AIP) plug for the Defence Research and Development Organisation-developed AIP system and its integration into conventional submarines.

Meanwhile, W.S. Industries (India) (NSE:WSI, BOM:504220) received an order worth 862.6 million Indian rupees from CMK Projects for the construction of additional works and balance works an integrated bus terminal and multi-utility facility center in Tamil Nadu, India, according to a bourse filing on Tuesday.

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IT firms in India get a significant share of their revenue from the US.</p><p>At the close, the Sensex slid 109.12 points, or 0.1%, to 78,139.01, while the Nifty 50 rose 0.10 points, to 23,644.80.</p><p>Bharat Electronics (NSE:BEL, BOM:500049) emerged as the top gainer on Tuesday, with shares rising 3%, followed by Oil &amp; Natural Gas Corporation (NSE:ONGC, BOM:500312), and Kotak Mahindra Bank (NSE:KOTAKBANK, BOM:500247).</p><p>Conversely, Adani Enterprises (NSE:ADANIENT, BOM:512599), Tech Mahindra (NSE:TECHM, BOM:532755), and Tata Consultancy Services (NSE:TCS, BOM:532540).</p><p>In corporate news, Mazagon Dock Shipbuilders (NSE:MAZDOCK, BOM:543237) secured a contract worth 19.90 billion Indian rupees from India's defense ministry for the construction of an air independent propulsion (AIP) plug for the Defence Research and Development Organisation-developed AIP system and its integration into conventional submarines.</p><p>Meanwhile, W.S. Industries (India) (NSE:WSI, BOM:504220) received an order worth 862.6 million Indian rupees from CMK Projects for the construction of additional works and balance works an integrated bus terminal and multi-utility facility center in Tamil Nadu, India, according to a bourse filing on Tuesday.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"AIP","symbol_name":"Arteris, Inc.","start_time":0,"source_url":"https://www.mtnewswires.com/","article_id":"2495666058","we_media_id":"1092851196","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2495666058","pubTimestamp":1735641780,"columns":[],"sourceInfo":{"source_id":"mtnewswires_news","name":"MT Newswires"},"weMediaInfo":{"media_name":"MT Newswires Live","introduction":"The most recognized names in North America, Europe and Asia rely on MT Newswires to power their applications. 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