Indian Stock Market Wrap-Up: Key Indices Near Flatline: Indian stock market indexes closed near the flatline. The key indices, Sensex and Nifty, had gained early gains and closed near their previous close. The trading volume was thin, and the benchmarks traded in a narrow range in most of the session due to the holiday season despite monthly F&O expiry.
Sensex and Nifty: Performance Summary for the Day
At the close, the Sensex was down by 0.39 points to 78472.48, while the Nifty ended up by 22.55 points or 0.10 percent to 23750.20. In the broader markets, the nifty midcap index closed higher by 67.80 points or 0.12% while the Nifty smallcap index closed flat to the negative on Thursday. The NSE’s volatility index India VIX jumped from 6.50% to 14.04.
The market breadth was in favor of bears, as 959 shares closed higher on NSE while 1416 shares declined at the close. The Nifty auto, pharma, and public sector banks closed in the green while the media, FMCG, and metal sectors ended in the red.
News likely to impact Trade Setup for Friday
- According to a Reuters report, the Indian government may reduce income tax for individuals earning up to Rs 15 lakh per year as part of the Union Budget 2025 to boost consumption.
- The Finance Ministry stated on December 26 that India’s economic growth for FY25 is expected to reach approximately 6.5 percent in real terms, driven by strong rural and urban demand, enhanced capital formation, and robust government spending.
- The Reserve Bank of India has published the Report on Trend and Progress of Banking in India 2023-24, detailing the performance of commercial banks, co-operative banks, and non-banking financial institutions during the years 2023-24 and the first half of 2024-25. The RBI highlighted that robust credit growth fueled the expansion of the consolidated balance sheet of scheduled commercial banks (SCBs) in 2023-24. Asset quality showed significant improvement, with the gross non-performing assets (GNPA) ratio dropping to 2.7 percent by the end of March 2024 and further to 2.5 percent by the end of September 2024. Additionally, banks’ profitability continued to rise for the sixth consecutive year in 2023-24, with gains persisting in the first half of 2024-25, as evidenced by a return on assets (RoA) of 1.4 percent and a return on equity (RoE) of 14.6 percent.
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