Stock Market Report Today - 23rd December 2024

The Indian stock markets continued their downward spiral on December 23, as both the Sensex and Nifty posted modest gains, led by buying in metal, realty, and financial stocks. Despite some pressure in the small-cap segment, the broader sentiment turned positive due to sectoral outperformance and selective stock-specific movements.

Key Highlights of Today’s Stock Market Movements: 

• Sensex: Ended at 78,540.17, up 498.58 points (+0.64%).
• Nifty 50: Ended at 23,753.45, up 165.95 points (+0.70%).
• Nifty Bank: Closed at 51,317.60, up 558.40 points (+1.10%).
• Nifty IT: Closed at 43,828.35, up 57.30 points (+0.13%).
• BSE SmallCap: Ended at 54,817.91, down 331.31 points (-0.60%).
• BSE MidCap: Ended at 46,274.31, up 47.81 points (+0.10%).

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Nifty, Sensex, and Market Trends Analysis

Indian equities managed to close higher as the Sensex gained 499 points and the Nifty added 166 points, primarily driven by strength in banking, metal, and oil & gas sectors. Global cues remained mixed, with optimism over easing inflation partially offset by recessionary fears. The small-cap index underperformed, reflecting cautious sentiment among retail investors.

Top Gainers and Top Losers in the Stock Market Today

The Top gainers list, In today's market, JSW Steel: Closed at ₹937.05, up by ₹19.70 (+2.15%), ITC: Closed at ₹474.25, up by ₹9.60 (+2.07%), Hindalco: Closed at ₹634.15, up by ₹11.50 (+1.85%), IndusInd Bank: Closed at ₹945.70, up by ₹16.25 (+1.75%), Trent: Closed at ₹6,946.00, up by ₹114.45 (+1.68%).

Top Losers list, The biggest loser today was Hero MotoCorp: Closed at ₹4,272.60, down by ₹67.35 (-1.55%), Maruti Suzuki: Closed at ₹10,822.00, down by ₹79.05 (-0.73%), Nestle: Closed at ₹2,151.60, down by ₹11.90 (-0.55%), HCL Tech: Closed at ₹1,903.00, down by ₹8.35 (-0.44%), Bajaj Finserv: Closed at ₹1,563.40, down by ₹6.25 (-0.40%).

Market Momentum Over Time

Over the past week, the markets have shown resilience despite global uncertainties. While large-cap indices like the Sensex and Nifty demonstrated upward momentum, the small-cap segment faced headwinds due to profit-booking and cautious sentiment.

Best Sector: Nifty Bank closed at 51,317.60, up by 558.40 points (+1.10%).

Worst Sector: Nifty Auto ended at 22,557.75, down by 22.25 points (-0.10%).

Major Market Drivers and Key Movers

1. Sectoral Performances: Strong gains in banking, metals, and realty supported the indices. However, auto stocks remained under pressure due to slowing demand expectations.
2. Stock-Specific Action: JSW Steel and ITC emerged as the top gainers, while Hero MotoCorp faced selling pressure amid concerns over input costs.
3. Global Cues: Mixed global signals, including optimism over inflation data, provided a neutral backdrop for Indian equities.

Intraday Stock Market Dynamics and Key Trading Levels

Market experts suggest selective buying in undervalued banking and metal stocks, while advising caution in auto and IT sectors due to demand uncertainties. Investors are keeping an eye on global developments and the upcoming domestic macroeconomic data releases.

Sensex gained 499 points to close at 78,540.17, and Nifty ended at 23,753.45, up by 166 points. Key sectors like banking, financials, and metals contributed to the gains, while small-cap and auto indices lagged.

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