The Sensex concluded at 78,139, showing a minor decrease due to a cautious market sentiment. The index saw a mix of gains and losses during the session, with no major factor driving it higher.
Nifty 50 ended with a weak tone today with the index in the hands of a mix of gainers and losers. Stocks such as BEL, ONGC, Kotak Bank, and Trent managed to climb up by over 2%. Nevertheless, huge declines in Adani Enterprises and Tech Mahindra, each declined by more than 2%, along with TCS, Infosys, and SBI Life were weak enough to drag the index down.
Bank Nifty closed at 50,860.Kotak Bank outperformed others, rising by more than 2%. Although no other stocks showed significant gains, SBI, PNB, and Canara Bank’s upward momentum partially offset the index’s decline.
Nifty Next 50 ended at 67,988, with the index sliding on the back of a steep fall in Bajaj Holdings, which lost more than 5%, and Adani Green, which shed more than 3%. Laggards include IRFC, Adani Energy Solutions, Lodha, and Adani Power, which declined over 2%. These losses made the index perform negatively.
BSE 200 ended at 10,931 as the index succumbed to losses in AWL and Bajaj Holdings, both of which were down more than 6%. Bharat Hexa lost over 4% and also fell AU Bank, Adani Green, and Max Healthcare by more than 3%.
Overall, the market was subdued for the second consecutive day. With most indices ending in the red, Adani stocks was a major contributory factor in the overall decline and was noticed as laggards across multiple indices. Yet again, the market sentiment remained weak due to the absence of strong positive cues.
Also read: Indices Close in Red Despite Gains in Adani Stocks; Sensex Falls Slightly
Published on: December 31, 2024 at 8.30 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 1st January is celebrated as New Year’s Day!
As stated in Bhagavad Gita : (Bhagavad Gita 11.32)
कालोऽस्मि लोकक्षयकृत् प्रवृद्धो।
I am time, the great destroyer of the worlds.
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