Indian Stock Market on 16.12.24

As the year nears its end, analysts and experts are keenly watching the index’s potential movement and overall market sentiment. Meanwhile, Indian stock markets have seen a solid rebound, logging their fourth consecutive weekly gain. The recovery was marked by volatility, as markets briefly dipped below 24,200 before swiftly rebounding to close at 24,768, a modest weekly gain of 0.37 per cent. The resurgence was fueled by value buying in battered stocks, easing inflation, and resilience in key sectors.

The benchmark indices—the NSE Nifty 50 and the BSE Sensex—have rebounded nearly 3 per cent from their recent lows, driven by broad-based buying that lifted over 40 Nifty stocks. The Nifty 50 climbed 0.89 per cent to 24,768.3, while the Sensex rose 1.04 per cent to 82,133.12. For the week, the Sensex gained 623.07 points or 0.76 per cent, while the Nifty added 90.5 points or 0.36 per cent. Despite this recovery, the blue-chip stocks remain about 5.5 per cent below their record highs from late September after slipping into correction territory in early November.

Across the globe, US stocks also saw slight gains on Monday, as investors awaited the Federal Reserve’s final rate decision of the year, expected on Wednesday. The S&P 500 was up 0.3 per cent, the Dow Jones Industrial Average gained 0.2 per cent, and the Nasdaq Composite rose 0.5 per cent.

Commodity markets showed mixed results, with oil futures slipping due to concerns over weak consumer spending in China, while gold prices rose, supported by ongoing geopolitical tensions and lower Treasury yields.

The market’s attention now turns to key data and decisions this week, with the US Federal Reserve’s rate decision and important economic indicators expected to influence global market movements.