The benchmark BSE Sensex lost 109.12 points or 0.14% to close at 78,139.01, while the broader Nifty 50 index closed at 23,644.80, lower by 0.10 points.
Here’s how analysts read the market pulse:
Commenting on the day’s action, Vinod Nair, Head of Research at Geojit Financial Services said the final day of the year concluded with minor losses, despite a recovery from the day’s lows, adding that the pressure of consolidation is dragging the domestic momentum amid negative global cues and ongoing concerns over a strengthening dollar index and US bond yields.
“Losses were mainly in IT and realty stocks, while other sectors saw gains. FII outflows and rising crude prices are pressuring the rupee and dampening sentiment. Nonetheless, the market’s focus is expected to shift back to domestic Q3 results for insights into potential growth and earnings recovery and to the Union budget, offering a short- to medium-term perspective amid global uncertainties,” Nair added.
US markets
Wall Street’s major indexes opened higher in the final session of 2024, capping a two-year bull run driven by post-pandemic recovery, easing borrowing costs, and the AI boom.
The S&P 500, Dow, and Nasdaq hover near record highs, set for consecutive annual gains. A 100-basis point Fed rate cut and surging tech stocks, fueled by AI’s potential to boost corporate profits, propelled markets. This year, tech, communications services, and consumer discretionary sectors have soared over 30%.
Tech View
The Nifty recovered smartly during the day, following a weak start, said Rupak De, Senior Technical Analyst at LKP Securities, adding that the technical setup remains unchanged as the index failed to break above any significant moving averages. “Despite this, sentiment appeared to improve throughout the session. On the higher end, if Nifty moves above 23,700, it could advance towards 23,900-24,000. On the lower end, support is placed at 23,550,” De added.
Most active stocks in terms of turnover
ITI Ltd (Rs 3,248.41 crore), Rites (Rs 1,715.03 crore), HDFC Bank (Rs 1,251.55 crore), ICICI Bank (Rs 1,083.80 crore), Mazagon Dock Ship (Rs 1,079.73 crore), Avanti Feeds (Rs 984.37 crore) and Zomato (Rs 888.69 crore) were among the most active stocks on NSE in value terms. Higher activity in a counter in value terms can help identify the counters with highest trading turnovers in the day.
Most active stocks in volume terms
Vodafone Idea (Traded shares: 43.22 crore), Easy Trip Planners (Traded shares: 27.56 crore), ITI Ltd (Traded shares: 8.28 crore), YES Bank (Traded shares: 6.03 crore), Rites (Rs 5.84 crore), IRFC (Traded shares: 4.13 crore) and NMDC (Traded shares: 3.81 crore) were among the most actively traded stocks in volume terms on NSE.
Stocks showing buying interest
Shares of Avanti Feeds, Crisil, Rites, Godfrey Philips, Redington, NLC India and Chennai Petro were among the stocks that witnessed strong buying interest from market participants.
52 Week high
Over 127 stocks hit their 52 week highs today while 102 stocks slipped to their 52-week lows. Among the ones which hit their 52 week highs included Crisil, Laurus Labs, ITI Ltd, Muthoot Finance, Lupin, Lloyds Metals and Radico Khaitan.
Stocks seeing selling pressure
Stocks which witnessed significant selling pressure were Easy Trip Planners, Adani Wilmar, Bajaj Holdings, Bharti Hexacom, Five-Star Business Finance, Adani Green Energy and Godrej Industries.
Sentiment meter favours bulls
The market sentiments were bullish. Out of the 4,079 stocks that traded on the BSE on Tuesday, 1,647 stocks witnessed declines, 2,321 saw advances, while 111 stocks remained unchanged.
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(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
