On December 30, 2024, the Indian stock market had a tough day, with both the Sensex and Nifty going down. This happened because of weak global markets and foreign investors pulling out their money. Investors stayed careful as the economy faced challenges.
What Happened in the Market:
1. Index Changes:
- The Sensex fell by 450.94 points (0.57%) to 78,248.13.
- The Nifty dropped 168.50 points (0.71%) to 23,644.90.
2. Biggest Winners and Losers:
- The stocks that lost the most included Tata Motors, Titan, Tata Steel, State Bank of India, Mahindra & Mahindra, NTPC, ICICI Bank, Maruti, HDFC Bank, Reliance Industries, and Infosys.
- On the other hand, stocks like Zomato, Tech Mahindra, HCL Tech, and IndusInd Bank did well and gained value.
3. Sectors Performance:
- The metal and capital goods sectors lost the most, going down by 1.89% and 1.84%.
- However, the healthcare and IT sectors stayed strong and even gained a bit.
Why Did This Happen?
Experts said the drop happened because foreign investors kept selling, and the US dollar got stronger. Ajit Mishra from Religare Broking said big companies in many sectors were sold off, causing the market to go down. Vinod Nair from Geojit Financial Services pointed out that investors turned to safer options like IT and pharma stocks during this uncertain time.
Market Trends:
From a technical view, the Nifty went below its recent range and stayed under its 200-day moving average, which is not a good sign. Rupak De from LKP Securities said the market was quite unstable, moving between 23,600 and 23,900 during the day.
Looking Ahead:
As the year ends, people are keeping an eye on upcoming car sales data and other economic information to see where the market might go in 2025. Right now, it looks like investors will play it safe for a while.
In Summary:
The Indian stock market’s performance on December 30, 2024, showed how global issues and local challenges are affecting it. As the new year approaches, staying updated on market changes and the economy will help investors make better decisions.
