Finance
Stock Market Highlights, Tuesday, December 31, 2024: Benchmark equity indices, the BSE Sensex and NSE Nifty 50, recovered sharply from the day’s lows and closed with slight losses, weighed down by losses in IT and select banking equities.
The BSE Sensex had fallen to 77,561 due to losses in global peers; however, the BSE benchmark erased losses and soared to 78,248 in intra-day trading. The Sensex eventually closed at 78,139, down 0.1 percent or 109 points on the last trading day of 2024.
Similarly, the NSE Nifty 50 index recovered from the day’s low of 23,460 to a high of 23,690, representing a 230-point intraday gain. The Nifty 50 closed practically unchanged at 23,645.
The BSE Sensex completed the calendar year 2024 with a strong increase of 8.2 percent, or 8,809 points, after reaching a high of 85,978 during the year. The NSE Nifty 50 rose 8.8 percent in 2024. The benchmark indices were up for the ninth consecutive calendar year, increasing as much as 200 percent throughout this span.
Back on Tuesday, Infosys, HDFC Bank, and ICICI Bank were the biggest drags on the Sensex. In terms of percentage losses, Tech Mahindra lost 2.5 percent. Zomato, TCS, Infosys, and ICICI Bank all fell 1–2 percent. Kotak Bank, on the other hand, increased its profits by 2.5 percent. ITC, Ultratech Cement, Tata Motors, and Tata Steel were the other major movers among the Sensex 30.
Among the broader benchmarks, the Nifty Midcap 150 index closed unchanged at 21,127, while the Smallcap 250 rose 0.6% to 17,744.
Sectorally, the NSE Nifty IT index fell 1.5 percent. The Nifty Realty index was the other big loser. The Oil & Gas index increased by more than 1%, while the PSU Bank, Pharma, and Metal indices increased by almost 0.5 percent apiece.
The fear index, India VIX, which measures volatility, increased 3.5 percent to 14.47.
In the primary markets, shares of Unimech Aerospace and Manufacturing made a stellar debut on bourses on Tuesday, December 31, 2024, listing at Rs 1,491 per share, reflecting a premium of Rs 706, or 89.9 per cent, against the issue price of Rs 785 on the BSE.
The market will be open for usual trade tomorrow, New Year’s Day.
Source: BS
