Live
- PCB officials check water flowing in canals
- Op-Demo to showcase Indian Navy’s might
- Mob attacks SP office in Manipur
- Vande Bharat sleeper train peaks at 180 kmph during trials
- 68 L pensioners benefit from new EPFO system
- Of an atheist and his evolution into Gothala Swamy!
- Centre hasn't done any work in Delhi: Kejriwal
- Thousands likely to attend Haindava Sankharavam
- PM likens AAP to 'aapda' for Delhi
- Gukesh promises best moves on 64 squares in 2025
Dalal Street concludes 2024 with over 8% gain
Markets end flat in last session of the year; Sensex jumped 5,898.75 pts or 8.16%, Nifty surged 1,913.4 pts or 8.80% in last year; Year’s high for Sensex was 85,978.25pts, 26,277.35 for Nifty on Sept 27
Mumbai: Benchmark indices Sensex and Nifty ended lower on the final session of 2024 on Tuesday amid persistent foreign fund outflows and weak trends in the global markets. Falling for the second straight day, the 30-share BSE benchmark Sensex declined 109.12 points or 0.14 per cent to settle at 78,139.01. Intra-day, it tanked 687.34 points or 0.87 per cent to 77,560.79. The NSE Nifty dipped marginally by 0.10 points to settle at 23,644.80.
In the entire 2024, Sensex jumped 5,898.75 points or 8.16 per cent, and the Nifty surged 1,913.4 points or 8.80 per cent. The BSE benchmark Sensex hit its record peak of 85,978.25 on September 27 this year, and the NSE Nifty also reached the lifetime high of 26,277.35 on the same day. Stock market investors became richer by a whopping Rs77.66 lakh crore in the year 2024. The market capitalisation (mcap) of BSE-listed firms surged by Rs77,66,260.19 crore to Rs4,41,95,106.44 crore ($5.16 trillion) in 2024.
“The final day of the year concluded with minor losses, despite a recovery from the day’s lows. However, the pressure of consolidation is dragging the domestic momentum amid negative global cues and ongoing concerns over a strengthening dollar index and US bond yields. FII outflows and rising crude prices are pressuring the rupee and dampening sentiment. Nonetheless, the market’s focus is expected to shift back to domestic Q3 results for insights into potential growth and earnings recovery and to the Union Budget, offering a short- to medium-term perspective amid global uncertainties,” said Vinod Nair, head (research), Geojit Financial Services.
“The year 2024 has been a challenging yet rewarding one for the markets. The Nifty steadily climbed from January to September, reaching a historic high of 26,277.35, before giving up some gains to still close the year with an impressive rise. This marked Nifty's ninth consecutive year of positive returns, despite FIIs selling shares,” Prashanth Tapse, senior V-P (research), Mehta Equities Ltd. From the 30 blue-chip pack, Tech Mahindra, Zomato, Tata Consultancy Services, Infosys, ICICI Bank, Bajaj Finance, Hindustan Unilever and HCL Technologies were the major laggards on Tuesday. Kotak Mahindra Bank, ITC, UltraTech Cement and Tata Motors were among the gainers.
