Lagatar24 Desk
Mumbai: The Indian benchmark indices, BSE Sensex and NSE Nifty 50, concluded the final trading session of 2024 near flatline on Tuesday, recovering from intra-day lows but showing little net movement. Declines in IT and select banking stocks weighed on the market, while health care and PSU stocks lent some support.
The BSE Sensex slipped to an intra-day low of 77,561 but rebounded to close at 78,139, down 0.14 per cent or 109 points. Similarly, the Nifty 50 recovered from 23,460 to close at 23,644.80, maintaining levels above 23,650 but virtually unchanged for the day.
Top Gainers and Losers
On the NSE, Bharat Electronics Limited, ONGC, Kotak Bank, Trent, and Coal India emerged as the top gainers, while Adani Enterprises, Tech Mahindra, TCS, Infosys, and SBI Life were the major losers.
Market Trends and Expert Opinions
The IT sector saw the largest drag, while sectors like health care, oil & gas, and PSU banks provided stability. Analysts noted global market weaknesses as a key driver of intra-day volatility.
VLA Ambala, Co-Founder of Stock Market Today, remarked, “Entering 2025, investors should prepare for potential profit booking in high-performing stocks. Macro factors like inflation, a weakening rupee, and unemployment may challenge market stability, leading to cautious sentiment.”
Ambala further highlighted the impact of FII outflows of ₹25,000 crore in 2024, counterbalanced by DII net buying of ₹5.5 lakh crore, hinting at potential market softness in early 2025.
Annual Performance Highlights
•Sensex Performance: Gained 8.2%, adding 8,809 points, peaking at 85,978 during the year.
•Nifty 50 Performance: Recorded an 8.8% rise, marking its ninth consecutive year of growth.
•Rupee Decline: The Indian rupee hit a record low of ₹85.61 against the dollar, down 2.8% for the year.
•Gold and Silver: Gold rose 26% driven by geopolitical tensions, while silver surged by 42%.
IPO Highlights
The primary market witnessed a stellar debut by Unimech Aerospace and Manufacturing, which listed at ₹1,491, an 89.9% premium over its issue price of ₹785.
Outlook for 2025
Experts believe that market performance in 2025 will depend heavily on Q3 earnings results and the policies of Donald Trump as he assumes the U.S. presidency in January. Oil prices remain under pressure, while gold is expected to touch ₹82,000 in early 2025, driven by continued central bank purchases.
