December 20, 2024
New Delhi, India
Stock Market Today
Stock markets ended sharply lower for the fifth consecutive session on December 20, 2024, with broad-based selling across sectors. The BSE Sensex fell by 1,176.46 points (1.49%) to close at 78,041.59, while the NSE Nifty declined 364.20 points (1.52%) to settle at 23,587.50.
Market Highlights:
- Biggest Losers: Trent, Tech Mahindra, M&M, IndusInd Bank, and Axis Bank.
- Top Gainers: Dr Reddy’s Labs, Nestle India, HDFC Life, and ICICI Bank.
- Sectoral Performance: All indices closed in the red, with realty down 4%, and IT, auto, capital goods, and PSU banks losing 2% each.
- Broader Indices: Nifty Midcap100 fell by 2.82%, while Nifty Smallcap100 shed 2.19%.
Key Drivers Behind the Fall:
- Federal Reserve Impact: The Fed’s quarter-point rate cut, coupled with projections of only two cuts in 2025 instead of the previously expected four, dampened investor sentiment.
- Global Sell-Off: Reduced enthusiasm from foreign institutional investors further weighed on markets.
Market Breadth:
Declining stocks outnumbered gainers, with 2,859 shares falling and 963 advancing on the BSE.
Weekly Performance:
This marks the first weekly decline in over a month, with the benchmarks dropping more than 3%.
Outlook:
The extended selling pressure, coupled with global headwinds, suggests markets could face continued volatility in the near term.
BASF India Shares were trading at 5,680.00INR up +219.55+4.02% by 2:32 Pm IST
Breaking News: Rupee Hits Record Low of ₹85 Against US Dollar
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