Welcome to today’s update on Stock Market India, your go-to source for all the latest updates from the Indian stock market. Let’s dive into the key highlights, market performance, and stock insights from 16th December 2024.
Benchmarks End Lower Amid Muted Global Cues
The domestic equity market ended Monday with modest losses as global markets remained subdued. Key indices reflected investor caution ahead of major central bank meetings this week.
- S&P BSE Sensex: Declined by 384.55 points or 0.47% to 81,748.57.
- Nifty 50: Fell by 100.05 points or 0.40%, closing at 24,668.25.
Despite the decline in headline indices, the broader markets fared better.
- Mid-Cap Index: Gained 0.73%.
- Small-Cap Index: Rose 0.47%.
The India VIX, an indicator of market volatility, surged 7.41% to 14.02, signaling increased uncertainty.
Sectoral Performance
Here’s how major sectors performed today:
| Sector | Performance |
|---|---|
| Realty | +2.1% |
| Metals | -1.5% |
| IT | -1.3% |
| Banking & Finance | Flat |
| Consumer Durables | +0.8% |
The realty sector led the gains, while metal and IT stocks faced pressure.
Top Gainers and Losers
Top Gainers
- JSW Energy: +1.42%
- NBCC (India): +1.74%
- Vakrangee: +9.97%
- PPAP Automotive: +8.64%
- Jindal Worldwide: +10.50%
Top Losers
- Titan Company: -2.04%
- TCS: -1.29%
- Infosys: -1.01%
Economic Indicators
Wholesale Price Index (WPI)
- November 2024 WPI: 1.89%, down from 2.36% in October.
- Easing inflation was driven by lower food prices, especially vegetables.
Purchasing Managers’ Index (PMI)
- Manufacturing PMI: Improved to 57.4 in December, indicating robust growth.
- Services PMI: Rose to 60.8, reflecting strong momentum in the services sector.
Market Data
| Indicator | Value |
|---|---|
| 10-Year G-Sec Yield | 6.848% (+1.77%) |
| USD/INR Exchange Rate | 84.8850 |
| MCX Gold Price (5 Dec 2024) | ₹77,212 (+0.10%) |
| Brent Crude Oil | $73.93 (-0.75%) |
Global Markets Overview
Global markets exhibited a mixed performance, with investors focusing on upcoming rate decisions by major central banks.
- European Stocks: Declined as concerns over interest rates lingered.
- US Markets: Ended subdued on Friday as inflation data suggested the Fed might hold off on aggressive rate cuts.
Stock Spotlight
- JSW Energy: Secured renewable energy projects in the commercial sector, boosting investor confidence.
- Alphageo (India): Hit a 20% upper circuit after winning seismic data contracts worth ₹118.63 crore.
- Best Agrolife: Received a patent for a pesticidal composition, rallying 4.57%.
- Jindal Worldwide: Announced strong quarterly earnings, with net profit rising 35.92%.
IPO Updates
Inventurus Knowledge Solutions
- Subscribed 52.68 times by the close of bidding.
- Price band: ₹1,265 – ₹1,329 per share.
International Gemmological Institute (India)
- Subscribed 0.72 times so far.
- Price band: ₹397 – ₹417 per share.
FAQs: Stock Market India Insights
Q1. Why did the markets fall today?
The markets fell due to muted global cues and investor caution ahead of major central bank meetings this week.
Q2. What is India VIX, and why did it rise?
India VIX measures market volatility. It rose due to uncertainty around interest rate decisions by the Federal Reserve.
Q3. Which sectors performed the best today?
The realty sector was the top performer, gaining 2.1%, while metal and IT sectors declined.
Q4. What are the top stocks to watch tomorrow?
Keep an eye on JSW Energy, Vakrangee, and Jindal Worldwide based on today’s performance.
Conclusion
Today’s stock market session reflected a cautious sentiment as global factors and upcoming central bank meetings influenced investor behavior. While the frontline indices like the Sensex and Nifty faced declines, broader markets showcased resilience, with mid-cap and small-cap indices delivering gains. The rally in the realty sector offered a bright spot, even as IT and metal stocks dragged overall performance.
Looking ahead, sectors like renewable energy, consumer durables, and real estate could continue to perform well. Stay updated with Stock Market India for daily insights, sector highlights, and stock-specific news to make informed decisions in this ever-changing market landscape.
Happy investing!