The Stock Market India witnessed a challenging day on December 9, 2024, as key indices ended in the red. Investors adopted a cautious approach ahead of crucial economic data releases in India and the United States. Here’s a detailed update on today’s market movements.
Stock Market India-Key Market Highlights
- The Nifty 50 index slipped 58.80 points or 0.24%, closing at 24,619.
- The S&P BSE Sensex declined 200.66 points or 0.25%, settling at 81,508.46.
- Broader markets outperformed: the BSE Mid-Cap index gained 0.32%, and the BSE Small-Cap index rose 0.46%.
- FMCG stocks faced significant pressure, with Godrej Consumer plunging nearly 9% due to a weak Q3 business update.
- Positive market breadth: 2,296 stocks advanced while 1,774 declined.
- The India VIX, a measure of market volatility, fell 0.22% to 14.11.
Market Indices at a Glance
| Index | Closing Value | Change | % Change |
|---|---|---|---|
| Nifty 50 | 24,619.00 | -58.80 | -0.24% |
| S&P BSE Sensex | 81,508.46 | -200.66 | -0.25% |
| BSE Mid-Cap | – | +0.32% | – |
| BSE Small-Cap | – | +0.46% | – |
Top Draggers
Key Factors Driving the Stock Market India
- Anticipation of Economic Data:
- US CPI data is set for December 11, while India’s CPI data is due on December 12.
- The US Federal Reserve’s interest rate decision on December 18 is also being closely monitored.
- Sectoral Impact:
- FMCG stocks dragged the indices lower.
- The broader market segments, however, showed resilience with gains in mid-cap and small-cap indices.
- Global Cues:
- Mixed trends in global markets as investors awaited key economic developments, especially in China and the Middle East.
Sector Performance
| Sector | Performance |
| FMCG | Dragged by weak earnings updates |
| IT & Technology | Flat but resilient |
| Auto | Slight dip due to profit-booking |
| Pharmaceuticals | Witnessed marginal gains |
Stock Spotlights Stock Market India
- Godrej Consumer Products: Dropped 8.72% after reporting subdued demand in its Q3 update.
- C E Info Systems: Surged 16% after withdrawing investment plans for a B2C venture.
- CEAT: Jumped 10.10% following its acquisition of Camso’s business.
- Bondada Engineering: Rallied 7.57% after announcing a fundraising plan of Rs 185 crore.
- Paytm: Fell 0.47% after reaching a 52-week high intraday.
Global Market Insights
- US Markets:
- S&P 500 rose 0.3% to 6,090.27.
- NASDAQ Composite gained 0.8% to 19,859.77, hitting record highs.
- Dow Jones Industrial Average declined 0.3%.
- Asian Markets:
- Most markets advanced, buoyed by expectations of stimulus measures from China.
- European Markets:
- Exhibited modest gains as geopolitical developments unfolded in the Middle East.
Commodities and Currency Updates Stock Market India
| Commodity/Indicator | Value | Change |
| Gold (MCX Feb Futures) | Rs 77,081 | +0.60% |
| Brent Crude (Feb 2024) | $71.86/barrel | +1.04% |
| USD/INR | 83.7350 | Rupee weakened |
| India 10-Year Bond Yield | 6.836% | +1.35% |
FAQs: Stock Market India Insights
1. Why did Nifty fall today?
- The Nifty dropped due to weak performance in FMCG stocks and profit booking in heavyweight stocks like Reliance Industries and Tata Motors.
2. Which sectors performed well?
- Mid-cap and small-cap segments outperformed, with gains in select stocks in the pharma and engineering sectors.
3. What is the outlook for the Indian stock market this week?
- Markets are expected to remain volatile ahead of CPI data releases in India and the US, along with the Federal Reserve’s interest rate decision.
Top Stocks to Watch Today
| Stock | Performance |
| CEAT | Gained 10.10% |
| Godrej Consumer Products | Declined 8.72% |
| Bondada Engineering | Rallied 7.57% |
| Paytm | Fell 0.47% |
Conclusion-Stock Market India
Today’s market movements reflect the ongoing volatility driven by global economic events and sector-specific challenges. As investors prepare for critical data releases and central bank decisions, maintaining a balanced portfolio remains crucial. Keep monitoring indices and stocks closely while staying updated with the latest trends and insights on Stock Market India. Stay informed, invest wisely, and navigate the market with confidence.