On Thursday, December 26, 2024, the Indian stock market remained flat with the benchmark indices, Sensex and Nifty50, showing little movement, trading on a muted note due to the lack of significant domestic or international triggers. At 11 AM, the BSE Sensex was down by 49.83 points, or 0.06%, at 78,423, while Nifty50 stood at 23,724.45, down by 3.20 points or 0.01%.
The market saw selective stock movements after the opening bell. Only two stocks, Asian Paints (down 0.32%) and Tech Mahindra (down 0.02%), were in the red, while banking stocks led the gains. SBI topped the list with a rise of 1.13%, followed by Kotak Mahindra Bank, ICICI Bank, Maruti Suzuki India, and Axis Bank. On the Nifty50, BPCL rose by 1.37%, and SBI, ICICI Bank, and Maruti Suzuki India all made notable gains. However, Asian Paints, Dr Reddy's, Cipla, Trent, and TCS were the top laggards.
In terms of sector performance, the Nifty Bank index was the top sectoral gainer, rising by 0.82%. The Financial Services and Auto indices also showed gains. On the other hand, indices like FMCG, Metal, IT, Healthcare, and Oil were mostly positive, while Media, Pharma, and Realty faced some pressure.
The broader markets saw slight positivity, with the Nifty Smallcap 100 index up by 0.22% and the Nifty Midcap 100 up by 0.15%.
On Tuesday, December 24, 2024, both Sensex and Nifty50 had closed on a flat note. While the Sensex made a high of 78,877.36 during the session, it retreated to close at 78,472.87, down 67.30 points, or 0.09%. Nifty50 closed at 23,727.65, down 25.80 points, or 0.11%. Small-cap stocks managed to gain, with the Nifty Smallcap 100 index rising by 0.24%, while the Nifty Midcap 100 index ended slightly in the red.
In the primary market, several IPOs were active, including Unimech Aerospace and Manufacturing Limited's IPO, which was closing for subscription. Meanwhile, Identical Brains Studios Limited's IPO listed on the bourses today.
Financial analysts suggest that the Indian equity market remains volatile as 2024 comes to a close. The benchmark S&P BSE Sensex has dropped nearly 9% from its 52-week high in September, but brokerages are seeing this correction as an opportunity, with reduced valuations presenting attractive entry points.
Globally, Asian markets were mixed. Japan’s Nikkei 225 rose by 0.42%, and South Korea’s Kospi gained 0.17%. On the other hand, Chinese indices, including the CSI 300 and Shanghai Composite, faced minor declines.
In the US, Wall Street closed with gains on Christmas Eve, with the Dow Jones rising 0.91%, S&P 500 adding 1.1%, and the Nasdaq up 1.35%. US Treasury yields saw some rise, and global markets await further clarity on the Federal Reserve’s actions for 2025.
Investors are also keeping an eye on global central banks' moves, as the market factors in expectations of a potential 35 basis points of easing by the Federal Reserve in 2025. Additionally, US crude and Brent oil prices rose by 1.56% and 1.51%, respectively.
