The Indian stock market showed mixed movement on December 30, 2024, with the BSE Sensex and Nifty50 trading flat after coming off the day's highs. As of 1:40 PM, the Sensex was down by 373.78 points or 0.47%, at 78,325.29, while the Nifty50 was lower by 124.15 points or 0.52%, at 23,689.25. More than half of the Sensex stocks were trading lower, with Infosys leading the losses, followed by Tata Motors, TCS, Bajaj Finserv, and Larsen & Toubro. On the Nifty50, Wipro saw the most significant loss, while Adani Enterprises was a standout performer, gaining 6.09%.
Sector-wise, healthcare and pharma stocks were the top gainers, with the Nifty Healthcare and Pharma indices rising by 0.92% and 0.81%, respectively. On the flip side, the media index saw the largest fall, down by 1.15%, followed by the auto, metal, IT, oil, and realty indices.
In the broader markets, the Nifty Midcap 100 rose by 0.17%, while the Nifty Smallcap 100 saw a decline of 0.30%. Despite some losses in the market today, both the Sensex and Nifty50 are set to end 2024 with significant gains of around 9%, marking the ninth consecutive year of positive performance.
In terms of sector performance, the compressors and pumps industry had an exceptional year in 2024, with stocks like Shakti Pumps seeing a massive 545% rise. Additionally, some IPOs debuted today, with Senores Pharmaceuticals listing at a 51.84% premium, Ventive Hospitality posting an 11.69% gain, and Carraro India experiencing a 6.25% decline in its debut.
Globally, Asian markets showed muted movement as high U.S. Treasury yields challenged equity valuations. Wall Street also experienced a broad-based sell-off on Friday, while the strength of the U.S. dollar and concerns over demand, particularly from China, pressured commodities like oil. The S&P 500 and Nasdaq both had significant yearly gains, but rising bond yields have created an uncertain outlook for 2025.
Despite these global challenges, the Indian stock market remains poised for a strong finish to the year, driven by domestic mutual funds and institutional investments. As we look ahead to 2025, the technical charts suggest that while there may be some volatility, the long-term outlook for Indian equities remains positive.
