Indian Stock Market on 31.12.24

The Indian stock markets ended the last trading session of 2024 with barely a scratch, as the BSE Sensex and NSE Nifty 50 both recovered from earlier losses but closed nearly unchanged. The Sensex dipped to a low of 77,561, weighed down by global market weakness, before bouncing back to 78,248. It ultimately finished the day at 78,139, down 0.14%, or 109 points. The Nifty followed suit, falling to 23,460 but rebounding to 23,690, closing at 23,644.80—virtually flat. The India VIX, a measure of market anxiety, spiked 3.5% to 14.47, indicating a slight increase in volatility.

The losses on Tuesday were largely driven by declines in IT and select banking stocks. Tech giants like Infosys, TCS, and Tech Mahindra took a hit, while banking behemoths like SBI Life and Adani Enterprises joined the downtrend. On the other hand, stocks like Bharat Electronics, ONGC, Kotak Bank, and Coal India bucked the trend, posting gains.

Oil prices showed a modest uptick, with Brent Crude and WTI both rising 0.8%. Gold, Silver, Copper, and Natural Gas have delivered stellar returns, with year-to-date gains ranging from 9.6% to 53.66%, according to Anuj Gupta, Head of Commodity & Currency at HDFC Securities.