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 After opening the day lower, Indian share markets continued the downtrend as the session progressed and ended the day lower.Indian benchmark indices Sensex and Nifty hit fresh all-time highs on Thursday ahead of the monthly F&O expiry amid firm cues from the global markets.Nifty50 topped the 21,700 mark for the first time while Sensex was around the 72,300 mark. Barring media & realty, buying action was visible in most sectoral indices.At the closing bell, the BSE Sensex stood down by 170 points (down 0.2%).Meanwhile, the NSE Nifty closed lower by 47 points (down 0.%).Tata Motors, Bajaj Auto, and Eicher Motors were among the top gainers today.SBI, ONGC, and BPCL on the other hand, were among the top losers today.The GIFT Nifty was trading at 21,856, down by 108 points, at the time of writing.Broader markets ended on a positive note. The BSE MidCap index ended 0.9% higher and the BSE SmallCap index ended higher by 0.7%.Sectoral indices ended mixed with stocks in the telecom sector, auto sector, and FMCG sector witnessing most of the buying. Meanwhile stocks in the oil &gas sector, banking sector, and energy sector witness selling.Shares of MRF, Nestle, and Bajaj Auto hit their respective 52-week highs today.Now track the biggest movers of the stock market using the stocks to watch today section. This should help you keep updated with the latest developments…Asian share markets ended mixed. The Shanghai Composite ended 0.7% higher, while the Nikkei index ended 0.2% lower. Meanwhile, Hang Seng ended up flatThe rupee is trading at 83.2 against the US$.Gold prices for the latest contract on MCX are trading 0.3% lower at Rs 63,191 per 10 grams.Meanwhile, silver prices are trading 1.3% lower at Rs 73,980 per 1 kg.
 Why Kotak Mahindra Bank Share Price is FallingIn news from the banking sector, shares of Kotak Mahindra Bank fell on 29 December, a day after the lender received a show-cause-cum-demand order from the assistant commissioner of central goods and service tax (GST) and excise.It levied a cumulative Rs 5.7 m towards central goods and services tax (CGST), accompanied by applicable interest and a penalty of Rs 5.1 lakh.The demand has disallowed the input tax credit (ITC) on certain expenses during FY18 and FY19.The amount is not significant, considering the private sector lender’s Rs 31.9 bn net profit recorded for the quarter ended September 2023. It was a 23.6% rise over the last year. Its net interest income, the difference between the interest earned by a bank and the interest paid, came in at Rs 62.9 bn for the quarter, a 23.5% YoY gain.The private lender announced that the Reserve Bank of India (RBI) has approved the appointment of CS Rajan, who serves as an independent director of the bank, as the part-time Chairman of the bank. This appointment is effective from 1 January 2024 and is slated to last two years.

Innova Captab IPO
Moving on, after a muted debut on the exchanges with a marginal 5% gain, shares of Innova Captab Limited gathered steam in the afternoon trade on 29 December and were locked in the upper circuit.The stock was quoting Rs 542 in the afternoon at a premium of 21% to the issue price of Rs 448. Innova is an Indian pharmaceutical company involved in research and development, manufacturing, drug distribution, marketing, and exports.The shares were trading near Rs 32 in the unlisted market, from Rs 121 per share, hit on 26 December. This steep correction in its GMP comes after a series of dull listings earlier this week and slim trading volumes before the new year.The grey market is an unofficial ecosystem where shares start trading much before the allotment and until the listing day.The issue, which was open for bidding between 21 December to 26 December, was subscribed 55.26 times at close. The category for qualified institutional bidders (QIBs) was booked the most at 116.7 times, followed by non-institutional investors’ portion at 64.9 times. The quota reserved for retail investors was booked 17.2 times.
 Techno Electric Order WinMoving on to news from the engineering sector, shares of Techno Electric & Engineering Company touched a 52-week high, rising nearly 4% in the early trade on 29 December after the company bagged orders worth Rs 17.5 bn.The company has received transmission order of Rs 7.1 bn, including 765kV AIS Package (Substation) for Neemrana-II from Sterlite worth Rs 1.9 bn and 765kV AIS Substation Package for establishment of 765,400 kV, 2×1500 MVA at Sikar from PGCIL worth Rs 2.2 bn It also includes substation package for (i) 765/400 kV Dausa and (ii) Extension of 765 kV Beawar from PGCIL worth Rs 2.9 bn.The Advance Metering Infrastructure (AMI) segment received an order of Rs 10.4 bn from RECPDCL for 7.27 Lakh Smart Meters in Kashmir on a DBFOOT basis.In November, the company and Keppel Data Centres (India) Private Limited entered into a non-binding agreement to explore potential collaboration in the greenfield development of a data center campus in India.More By This Author:Sensex Today Trades Lower; NTPC, SBI Top LosersSensex Today Ends 372 Points Higher; Nifty Above 21,750 Sensex Today Hits Record High; Nifty Above 21,700

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