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Market Wrap, December 20: SENSEX, NIFTY50 nosedive again; both indices tumble around 5% this week
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3 min read | Updated on December 20, 2024, 17:09 IST
SUMMARY
At close, the NIFTY50 index stood at 23,587.50, down 364.20 points, or 1.52%, while the S&P BSE Sensex shed 1.49%, or 1,176.46 points, to 78,041.59. The NIFTY50 index fell below its 200-day moving average for the first time in a month.
Stock list
Out of 50 constituents of the NIFTY50 index, 45 declined, and 5 advanced.
Investor sentiment took a big hit after the Federal Reserve projected fewer rate cuts next year, causing an exodus of foreign funds.
At close, the NIFTY50 index stood at 23,587.50, down 364.20 points, or 1.52%, while the S&P BSE Sensex shed 1.49%, or 1,176.46 points, to 78,041.59.
The NIFTY50 index fell below its 200-day moving average for the first time in a month, as per a Reuters report.
Both the benchmark indices fell nearly 5% this week.
IT stocks were anticipated to fare better and gain in the trade, given upbeat quarterly results and encouraging guidance by Accenture. However, the stocks failed to hold on to gains and ended with significant losses.
Top gainers & losers
Out of 50 constituents of the NIFTY50 index, 45 declined, and 5 advanced.
The top five losers were Tech Mahindra, Axia Bank, IndusInd Bank, M&M, and Trent.
The top five gainers were Dr Reddy's, JSW Steel, ICICI Bank, Nestle India, and HDFC Life.
On the SENSEX, 28 out of 30 stocks ended in the red. Only Nestle India and Titan Company ended in the green.
Buzzing Stocks
This includes ₹191 crore of orders for various products from Bloom Energy in the clean energy sector and ₹35 crore of orders from reputed customers in aerospace, including Rafael, IMI Systems, and IAI.
Market Statistics
The market breadth was in favour of declines, as out of 4,085 stocks traded on the BSE, 2,950 declined, and 1,045 advanced, while 90 scrips remained unchanged.
As many as 229 stocks hit their 52-week highs on the BSE, while 68 scrips touched their 52-week lows.
Further, 14 stocks hit their upper circuit limits, and 5 hit their lower circuit bands.
Broader Market
The BSE MidCap index ended at 46,226.50, down 1,152.75 points, or 2.43%, while the BSE SmallCap index ended at 55,149.22, down 1,188.47 points, or 2.11%.
Sector Watch
All sectoral indices ended with deep cuts, with realty stocks falling the most.
The BSE Realty index ended at 8,257.38, down 350.76 points, or 4.07%.
The next losers on the list were power and capital goods stocks.
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