December 17, 2024
New Delhi, India
Stock Market Live
The Indian equity markets saw a sharp decline on December 17, 2024, as both the Sensex and Nifty extended their losing streak for a second consecutive day. The Sensex tumbled by 1,064.12 points (1.30%) to close at 80,684.45, while the Nifty shed 332.25 points (1.35%), settling at 24,336.
Key Highlights
- Major Losers: Bharti Airtel, Grasim Industries, Hero MotoCorp, JSW Steel, and Shriram Finance were among the top drags on the Nifty.
- Sectoral Performance: All sectoral indices ended in the red, with auto, banking, energy, metals, and oil & gas sectors falling by 1% each.
- Broader Markets: BSE Midcap and Smallcap indices dropped 0.5% each, indicating weakness beyond the frontline indices.
Market Sentiment
The global market rout and investor caution ahead of the U.S. Federal Reserve’s interest rate decision triggered the selloff. Weak cues from Asian and European markets added to the bearish sentiment.
Additional Pressure
- The rupee fell to an all-time low.
- India’s trade deficit reached a record high, compounding economic concerns.
- Brent crude prices slipped 0.50% to $73.58 a barrel, reflecting global growth worries.
Outlook
Investor focus remains on the Federal Reserve, Bank of Japan (BoJ), and Bank of England (BoE) policy updates. Analysts suggest that the Fed’s rate decision could influence the pace of rate cuts or signal a cautious outlook, which may set the tone for global markets.
The continued decline underscores the need for caution, as uncertainty prevails in both domestic and global markets.
Disclaimer:
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