Sensex Ends 67 Points Lower, Nifty Settles At 23,727; Smallcap Shares Shine – News18
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Indian markets opened flat on Tuesday with BSE Sensex up 30.41 points and Nifty 50 remaining flat. Global markets showed mixed performance, with U.S. indices driven by tech stock rallies.
Sensex Today (Representative/PTI File)
Indian Stock Indices End Flat Ahead of Christmas Break: Benchmark equity indices, BSE Sensex and NSE Nifty50, closed flat on Tuesday. After reaching a high of 78,877.36 during the session, the 30-share Sensex retreated, ending at 78,472.87, down by 67.30 points or 0.09% from the previous close.
Similarly, the Nifty50 closed at 23,727.65, down by 25.80 points or 0.11%. The index traded within a range of 23,867.65 to 23,709.65 on the day.
It is worth noting that both stock exchanges will remain closed tomorrow, December 25, 2024, in observance of Christmas.
In the broader markets, small-cap stocks saw some gains, with the Nifty Smallcap 100 index rising by 0.24%. On the other hand, the Nifty Midcap 100 index slipped by 0.06%.
Among the Nifty50 stocks, 28 ended lower, led by Power Grid Corporation, JSW Steel, SBI Life, Titan, and Infosys, which fell by up to 1.68%. On the other hand, Tata Motors, Adani Enterprises, Eicher Motors, BPCL, and Nestle India were among the 22 stocks that ended higher, with gains of up to 1.79%.
Sector-wise, only the Nifty FMCG, Auto, and OMC indices ended higher, gaining up to 0.57%. The Nifty Private Bank and Healthcare indices remained largely flat with marginal gains, while other sectoral indices saw losses of up to 0.83%.
Global Markets
Markets in the Asia-Pacific region were mixed on Christmas Eve, following overnight gains on Wall Street. Japan’s Nikkei 225 slipped 0.33% as minutes from the Bank of Japan’s October meeting revealed members agreed to continue raising rates if economic and inflation targets are met. The broader Topix index was marginally up by 0.01%.
South Korea’s Kospi declined 0.29%, while the Kosdaq rose 0.16%. Hong Kong’s Hang Seng index increased by 0.31%, and mainland China’s CSI 300 rose by 0.47%, with the Shanghai Composite up 0.26%. Australia’s S&P/ASX 200 climbed 0.35% in a shortened trading day.
On Monday, global equity markets gained, supported by Wall Street’s performance. U.S. Treasury yields climbed to a nearly seven-month high, while data indicated weakening U.S. consumer confidence, as investors prepared for fewer rate cuts by the Federal Reserve in 2025.
In U.S. equities, the Nasdaq and S&P 500 were primarily driven by rallies in major tech stocks like Nvidia and Broadcom.
The Conference Board’s U.S. consumer confidence index for December dropped to 104.7, falling short of expectations for an increase, signaling concerns about future business conditions.
New orders for key U.S. manufactured capital goods rose in November, but overall durable goods orders, including items from toasters to aircraft, fell by 1.1%, largely due to weak commercial aircraft orders.
US Market Performance
- The Dow Jones Industrial Average gained 66.69 points, or 0.16%, to close at 42,906.95.
- The S&P 500 rose 43.22 points, or 0.73%, to 5,974.07.
- The Nasdaq Composite increased by 192.29 points, or 0.98%, to 19,764.89.
MSCI’s global equity index rose by 5.51 points, or 0.65%, to 849.74, while Europe’s STOXX 600 index finished up 0.14%.
US markets will have a shorter trading day on Tuesday and will remain closed on Wednesday for Christmas.
US Treasuries and Oil:
U.S. 10-year Treasury yields rose to their highest level since late May, reaching 4.591%, with the 30-year bond yield up to 4.7791%.
Oil prices eased slightly in light pre-holiday trading, as concerns over a supply surplus next year and a stronger dollar weighed on the market. U.S. crude settled down 0.32%, or 22 cents, at $69.24 per barrel, while Brent crude fell 0.43%, or 31 cents, to $72.63 per barrel.
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