December 31, 2024
New Delhi, India
Annual Market Performance
The Indian stock market ended 2024 on a high note despite minor losses on the year’s final trading day. The Sensex gained 8.2% for the year, closing at 78,139, while the Nifty climbed 8.8%, ending at 23,645. Over the past nine years, these benchmark indices have collectively surged by nearly 200%, continuing their bullish streak.
The broader markets outshone the benchmarks, with the Nifty Smallcap 100 and Nifty Midcap 100 indices rising over 20% each. This marks another robust year for small and midcap stocks, which have been key contributors to market momentum.
Closing Day Highlights
On December 31, 2024:
- Sensex: Fell by 109 points (-0.1%) after touching an intra-day low of 77,561 but recovered to 78,139.
- Nifty: Dropped to 23,460 during the session before rebounding to close at 23,645, almost unchanged.
The session witnessed pressure from IT and select banking stocks, with Infosys, HDFC Bank, and ICICI Bank among the key drags. The IT sector led the losses, with the Nifty IT index slipping 1.5%. In contrast, PSU Banks, Pharma, and Metals posted gains.
Also Read: Is the Stock Market Open on New Year’s Day? 2025 Holiday Calendar Revealed
Sector Performances:
- IT: Down 1.5%
- Oil & Gas: Up 1%
- Realty: Declined marginally
Market Volatility
The India VIX index, a measure of market volatility, rose by 3.5% to 14.47, reflecting cautious sentiment amid global economic uncertainties, including elevated U.S. Treasury yields.
Key Stock Movements
- Gainers: Kotak Mahindra Bank (+2.5%), Tata Steel, Tata Motors, UltraTech Cement
- Losers: Tech Mahindra (-2.5%), Infosys, TCS, ICICI Bank (-1-2%)
IPO Debut
Unimech Aerospace and Manufacturing delivered an impressive market debut, listing at ₹1,491 per share, an 89.9% premium over its issue price of ₹785.
Broader Market and Outlook
The Nifty Midcap 150 ended flat, while the Smallcap 250 gained 0.6%. Analysts attribute the broader market’s resilience to robust domestic growth prospects and favorable policy measures.
The markets will reopen on January 1, 2025, for regular trading.
Disclaimer:
CurrencyVeda provides this news article for informational purposes only. We do not offer investment advice or recommendations. Before making any investment decisions, please conduct thorough research, consult with financial experts, and carefully consider your financial situation, risk tolerance, and investment goals. Investing in the stock market carries risks, and it’s essential to make informed choices based on your individual circumstances. CurrencyVeda is not liable for any actions taken based on the information provided in this article.
