The benchmark Sensex ended at 78,248 today, having recorded a small drop. Throughout the session, the index saw selling pressure with bears outperforming the bulls. The broader indices, too, indicated weakness in their respective trends.
Nifty 50 also settled at ₹23,644 as stocks like Hindalco dropped by above 2% and shares like Tata Motors, Trent and BEL were down following that trend. Other notable decliners included Wipro and Titan, along with Grasim. The only gleam of relief was for the day was provided by a massive rise of over 7% in Adani Enterprises. Even with gains there, Nifty 50 ended in the red.
Bank Nifty closed at ₹50,952 largely on losses in Canara Bank and Axis Bank, followed by HDFC Bank and majors SBI, Kotak Mahindra Bank, and ICICI Bank. Weakness in banking stocks was overall the bearish tone for the sector.
Nifty Next 50 ended at INR ₹68,063 weighed down by selling pressure even as Adani Total Gas and Bajaj Holdings gained over 14%. IRFC and Adani Power also rallied more than 7% and were among the gainers. However, the index closed in the red as broader market was weak.
BSE 200 closed at INR 10,938 after falling on significant losses in the stocks of Thermax down by over 8 per cent and JSL dropped by more than 6 per cent. Fluorochem, Giva, Solar Industries, and Linde India also contributed to the downside. The index suffered negatively due to persistent selling pressure at these counters.
Overall, buyers were active in the market, but selling pressure was dominant, and most of the indices closed in the red. However, with the bearish sentiment prevailing, stocks like Bajaj Holdings and Adani enterprises have shown remarkable gains.
Also read: What’s Next in IPOs: Key Upcoming Listings
Published on: December 29, 2024 at 9.30 PM GMT.
Disclaimer: The information provided is for educational purposes only and does not constitute financial advice. We are not registered financial advisors. Please conduct your own research and consult a qualified advisor before making investment decisions. Any investment decisions you make based on this information are solely at your own risk.
Tomorrow 31th December is celebrated as New Year’s Eve.
As stated in Bhagavad Gita :
सर्वं कर्माखिलं पार्थ मनस संन्यस्य अस्ति।
All actions are performed by the mind; therefore, one should control the mind.
Black Moon Phenomenon
The rare Black Moon will take place on December 31, 2024, at 3:57 AM IST. Such a rare ‘Black Moon’ happens when two new moons come within the same calendar month, allowing for viewing time among astronomers. A new moon cannot be observed by humans but still holds immense value for the cause and effect of tides as well as being held culturally important.
