The stock market fell so much on Tuesday that all major support levels were broken. Many index heavyweight stocks came under selling pressure. This kind of fall in the Indian markets before the Fed meet gave rise to many issues, one of which is the decision on rate cut in the Fed meet.
 

The market fell so much on Tuesday that the market was bleeding. Nifty closed at the level of 24336 after falling 332 points, while Sensex closed at the level of 80684 after falling 1064 points.

Even after this big fall, the share price of PSU stock Mazagon Dock Shipbuilders Ltd. saw a storm today and the stock closed at the level of Rs 5,283.00 with a gain of 5%. The market cap of this company is Rs 1.07 lakh crore. Mazagon Dock Shipbuilders is going to do a stock split for the first time and before this corporate action, the stock has been rising for the last two sessions. During this period, heavy volume also came in the stock.



This will be the first stock split in Mazagon Dock Shipbuilders Limited, in which the existing one fully paid-up equity share with a face value of Rs 10 will be sub-divided into two fully paid-up equity shares with a face value of Rs 5. The ex/record date for determining the eligibility of shareholders for the stock split has been fixed as December 27, 2024.

Mazagon Shipbuilders Limited saw a trading volume of 4,08,172 shares on the BSE on Tuesday, December 17, 2024, of which 37& shares went into delivery.

Defense stock Mazagon Dock Shipbuilders Limited has shown some good traction on the upside in the last few trading sessions and a breakout is visible in Mazagon Dock. The stock has crossed higher levels in the last six-seven trading sessions and has seen strong buying from lower levels.

After falling in the last few sessions, Mazagon Dock regained momentum and broke all its resistances up to Rs 4600 on the daily chart. In the last two trading sessions, December 16 and December 17, the stock saw a stormy movement and an upside range breakout. All these activities have taken place in a weakening market.