Indian Stock Market Next Week 23rd- 27th Dec 2024: Indian stock market indexes fell sharply last Friday, snapping a four-week gain. The key indices ended at the lowest level in over one month. The sharp correction in the markets was mainly due to a combination of the following factors:
- The hawkish stance from the US Federal Reserve along with its rate cut.
- Depreciation of the Indian Rupee against the US dollar, hitting an all-time low.
- Heavy selling by the Foreign Institutional Investors (FIIs)
In addition to this inflation data from Eurozone. India’s trade deficit and decline in foreign reserve data also added to market concerns.
In the week ended, 20th Dec 2024, the Sensex declined 4091.53 points or 4.98% and ended at 78041.59, while the Nifty price was down 1180.80 points or 4.77% and settled at 23587.50 levels during the week. On the sectoral front, 11 sectors out of 12 closed in the red, Nifty Metal fell the most while Nifty Pharma closed in the green.
Indian Stock Market Next Week
The domestic markets are likely to trade taking cues from global markets next week. The coming week will be truncated as Indian and most of the global markets will be closed on 25th December 2024, on the occasion of the Christmas Holiday.
Both the domestic as well global market volumes are likely to remain low due to Christmas and ahead of the New Year holidays. Traders will continue to focus on the FIIs/DIIs, rupee movement, and crude oil prices. On the global front the US Goods Order data, Home Sales data, and weekly Jobless claims will remain the focus, while BoJ monetary policy meeting minutes and the unemployment rate will be closely monitored by the traders.
Global Stock Market Data Next Week
| Global Stock Market Events for Next Week | |||
| SL No. | Date | Global Events & Data | Countries |
| 23 Dec 2024 | GDP Growth Q3 | UK | |
| Chicago Fed Nationl Activity Index Nov | US | ||
| CB Consumer Confidence Dec | US | ||
| 24 Dec 2024 | BoJ Monetary Policy Meeting Minutes | Japan | |
| RBA Meeting Minutes | Australia | ||
| New Home Sales | US | ||
| 26 Dec 2024 | Housing Starts Nov | Japan | |
| Initial Jobless Claims | US | ||
| 27 Dec 2024 | Chicago Fed National Activity Index Nov | Japan | |
| Tokyo Core CPI Dec | Japan | ||
| Retail Sales Nov | Japan | ||
| Industrial Production Nov | Japan | ||
| Industrial Profits Nov | China | ||
| Unemployment Rate Nov | US | ||
| Retail & Wholesale Inventories Nov | Goods Trade Balance Nov | ||
Conclusion
In conclusion, the Indian stock markets experienced a sharp decline last week, breaking a four-week streak of gains. The downturn was mainly due to both global and domestic factors, including the hawkish US Federal Reserve stance, a record-low rupee, heavy FII outflows, and disappointing trade and inflation data. Most sectors ended in the red last week, with only Nifty Pharma showing resilience.
Going ahead, the holiday-shortened week, with low global market activity due to the holiday season, is expected to keep volumes subdued. Market participants will remain watchful of global economic indicators, crude oil prices, and currency movements, as these factors are likely to influence market direction. Traders should also monitor developments in US economic data, BoJ meeting minutes, and employment statistics, as these could impact sentiment both domestically and internationally.
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