Indian Stock Market on 18.12.24

Indian equity markets extended their decline for the third straight session on Wednesday, weighed down by weak sentiment both domestically and globally. The BSE Sensex fell by 502 points, or 0.62%, to settle at 80,182.20, while the NSE Nifty50 saw a decline of 137 points, or 0.56%, finishing the session at 24,198.85.. Broader market indices fared no better, with the BSE Midcap and Smallcap indices losing 0.61% and 0.76%, respectively. The Sensex has now lost a steep 1,951 points over the past three trading sessions, as persistent selling pressure gripped the market. The losses weren’t limited to large-cap stocks, midcap and smallcap counters also faced selling as investors stayed cautious amid global uncertainties.

Across the Atlantic, U.S. markets displayed mixed performance, with investors focused on the Federal Reserve’s final policy decision for the year. By mid-morning, the Dow Jones Industrial Average managed a modest gain of 65 points, or 0.15%, while the S&P 500 and Nasdaq Composite posted slight declines of 0.10%.

Brent crude rose 0.78% to $73.56 per barrel, while U.S. WTI crude gained 0.90% to trade at $70.71 per barrel. Gold prices in India saw a slight uptick on Wednesday, gold priced at ₹7,818.3 per gram, marking an increase of ₹130.0. On the other hand, silver prices in India remained unchanged, with the current price standing at ₹95,500.0 per kilogram.

As the trading week approaches its end, all eyes remain on the Fed’s policy announcements, which could set the tone for global markets, including India. For now, the mood remains bearish, with investors opting to stay on the sidelines.