Indian Stock Market 2024: Indian stock market indexes closed almost flat in the last trading session of 2024. As indicated by the Gift Nifty in the morning, Indian markets opened a gap-down on Tuesday. Investor’s sentiments remained cautious amid a strengthening of the US dollar and continued selling pressure by the FII. The market witnessed a V-shaped recovery immediately after opening red and closed almost flat today.
Market Performance on December 31, 2024
The BSE Sensex declined 109.12 points or 0.14% to 8139.01, while the Nifty50 index closed almost flat on a note at 23644.80 levels. The key indexes were dragged down by IT stocks, while pharma, public sector banks, and oil & gas stocks supported the index to recover from the sharp fall. Investors remain.
The sentiments were downbeat as heavyweights like Adani Enterprises, Infosys, and ICICI Bank dragged the markets. In the broader markets, the Nifty Midcap index closed flat to the positive up by 0.02%, while the Nifty Smallcap index gained 0.69% on 31st December 2024. The market breadth was positive 1488 shares advanced on the NSE while 900 shares declined at the close. The NSE’s volatility index “India VIX” jumped 3.39% to 14.45.
In the calendar year 2024, the Sensex gained 8.17%, the Nifty jumped 8.8% while the Bank Nifty was up 5.32%.
We wish you a Happy & Prosperous New Year 2025.
New IPO Listing
Unimech Aerospace shares price closed at ₹1,373.20 on the BSE, up 74.93% from the issue price of ₹785. The stock debuted at ₹1,491, an 89.94% premium, with a trading range of ₹1,341.95 to ₹1,491 and 6.97 lakh shares traded on its debut day and closed with Rs 7000-Cr market cap.
The Indo Farm Equipment IPO is live from December 31, 2024, to January 2, 2025. It is a book-built issue of 121 lakh equity shares, comprising a mix of fresh issuance and an offer-for-sale. The price band is set at ₹204 to ₹215 per share. The IPO subscribed 17.87 times on the first day and its GMP as of 31st December is Rs 80.
Economic News Likely to Impact on 1st Jan 2025
India’s fiscal deficit reached ₹8.5 lakh crore during April-November, accounting for 52.5% of the budgeted target, as per government data released on December 31. This is higher than the 50.7% recorded in the same period last fiscal year.
India’s core sector growth climbed to a four-month high of 4.3% in November 2024, as compared to 3.7% in October, with four of the eight sectors showing improved performance, according to data released on December 31, 2024.
Trade Setup for Tomorrow 1st January 2025:
The above economic data came after the market hours on Tuesday. Investors are likely to react to the data on Wednesday. The Global markets will mostly remain closed 1st of January 2025 on account of the New Year Holiday.
Today Nifty has shown smart recovery from the lows and managed to close positive. The next support for the index is around 23300 -23450 and resistance is at 23950 levels. The action in the market remains stock-specific and the sentiment on the street is still Bearish.
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