"Year-End Market Recap: Sensex Slips, Global Trends Shift as 2024 Closes"

                                                 Stock Market News                                 Dated:-31-12-2024

Stock Market Update: December 31, 2024 – Indian Markets Dip Amid Mixed Global Sentiment

Indian equity markets experienced a downturn during rangebound trading on the last day of the year. By early afternoon, the Sensex had declined by 289.52 points (0.37%) to close at 77,958, while the Nifty50 slipped 62.90 points (0.27%) to 23,582.

Performance Highlights

On the Sensex, 12 out of 30 stocks managed gains, led by Kotak Mahindra Bank, which climbed 2.40%. Other notable performers included Sun Pharma, SBI, Tata Motors, and ITC. On the losing side, Tech Mahindra dropped 3.11%, followed by TCS, Zomato, Infosys, and IndusInd Bank.

The Nifty50 showed a similar pattern, with 20 stocks advancing. Kotak Mahindra Bank, BEL, and ONGC were among the top gainers, while Tech Mahindra and Adani Enterprises led the decliners.

Sectoral Overview

Most sectoral indices were in the red, with the Nifty IT index falling the most at 1.84%, reflecting broad-based selling pressure across technology stocks. However, a few sectors bucked the trend: Pharma, Healthcare, Oil, and Auto posted modest gains, with the Pharma index rising 1.10%.

Broader markets mirrored the declines, as the Nifty Midcap 100 and Nifty Smallcap indices fell 0.49% and 0.09%, respectively. Meanwhile, the India VIX index, a volatility gauge, rose 3.84%, signaling increased uncertainty.

IPO and Derivatives Market

The primary market saw a strong debut for Unimech Aerospace and Manufacturing, which listed at ₹1,491—a nearly 90% premium over its issue price of ₹785. Meanwhile, Indo Farm Equipment's IPO was fully subscribed shortly after opening.

In the derivatives market, Nifty January futures saw a modest 0.4% decline over the past two sessions, though a sharp 11% rise in open interest suggested fresh short positions by institutional investors.

Global Market Snapshot

Asian markets displayed mixed trends amid subdued holiday trading. Japan and South Korea's markets were closed, while Australia’s ASX 200 slipped 0.56%. In China, manufacturing data for December came in below expectations, raising concerns about the effectiveness of Beijing's stimulus measures.

US markets ended Monday on a weaker note, with all major indices posting losses due to rising Treasury yields. The S&P 500 fell 1.07%, marking its first consecutive declines in the last five trading days of the year since 1952. Analysts attributed the pressure to elevated yields, with the 10-year Treasury yield climbing to 4.641% recently.

European markets also softened, as higher bond yields weighed on equities. The STOXX 600 index dropped 0.46%, while Germany’s bund yields hovered near six-week highs.

Commodity and Currency Markets

Oil prices showed modest gains, with US crude settling at $70.99 per barrel and Brent crude closing at $74.39. The US dollar continued to strengthen, supported by rising interest rate differentials, contributing to a 6.5% gain for the year.

Disclaimer

The information provided in this article is for general informational purposes only and is based on publicly available data and market analysis as of December 31, 2024. While efforts have been made to ensure accuracy, we do not guarantee the completeness or reliability of the information.

This article does not constitute financial, investment, or trading advice. Readers are encouraged to conduct their own research and consult with a licensed financial advisor before making any investment decisions.

The opinions and interpretations expressed are solely those of the author and do not reflect the views of any specific organization or financial institution. Market conditions can change rapidly, and past performance is not indicative of future results.

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