December 18, 2024
New Delhi, India
Share Market Today
Markets extended losses for the third consecutive session on December 18, with benchmarks trading lower amid investor caution ahead of the U.S. Federal Reserve’s monetary policy announcement.
- Indices Performance:
- Sensex: Declined by 502.25 points (-0.62%) to close at 80,182.20.
- Nifty 50: Fell by 137.15 points (-0.56%) to settle at 24,198.85.
- Broader indices, including Nifty Midcap100 and Smallcap100, dropped 0.64% and 0.87%, respectively.
- Sectoral Highlights:
- Lagging Sectors: Banking, financials, auto, energy, and realty sectors faced selling pressure. The Nifty Bank index fell by 695 points (-1.32%) to 52,140.
- Positive Sectors: Pharma and IT bucked the trend, closing higher.
- Top Performers:
- Gainers: Dr. Reddy’s Labs, Cipla, Trent, Wipro, and Reliance Industries registered gains up to 2.48%.
- Losers: Tata Motors (-3%), NMDC (-6%), and Bharat Electronics were among the top laggards.
- Market Sentiment:
- Investors remained cautious, awaiting clarity on the Fed’s stance regarding potential rate cuts.
- Banking stocks led the decline, while pharma stocks gained ahead of the Fed outcome.
- Stock Specific Updates:
- NMDC: Plummeted 6% after Karnataka raised iron ore duty.
- Va Tech Wabag: Slipped 11% on reports of order cancellations in Saudi Arabia.
- ITC: Ended higher following its announcement of January 6 as the record date for the demerger of its hotel business.
SEBI Action on Unregistered Advisors:
The Securities and Exchange Board of India (SEBI) banned YouTuber Ravindra Balu Bharti for offering unregistered investment advice. He has been directed to refund ₹9.5 crore collected through illegal activities and pay penalties.
Market participants remain focused on the Federal Reserve’s policy meeting and its implications for global equity markets.
Also Read: ITC Finalizes Record Date for Hotel Business Demerger
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.
