Closing Bell: Sensex, Nifty Slide Over 1% Amid Broad Market Sell-Off on December 17

On December 17, 2024, benchmark equity indices BSE Sensex and NSE Nifty 50 experienced steep declines, dropping over 1% each due to widespread selling pressure. 

The Sensex fell by 1,064.12 points, or 1.30%, to close at 80,684.45. Throughout the session, the index fluctuated between 81,613.64 and 80,612.20. Similarly, the Nifty 50 dropped 332.25 points, or 1.35%, to settle at 24,336 after trading in a range of 24,624.10 to 24,303.45.

The market’s volatility index, India VIX, rose by 3.31% to 14.49 points, reflecting heightened investor anxiety.

Top Gainers and Losers

The bearish trend dominated as most Nifty 50 stocks ended in the red, except Cipla and ITC. Leading the losses were Shriram Finance, Grasim Industries, Bharti Airtel, Hero MotoCorp, and JSW Steel, with declines of up to 5.27%.

The weakness extended to broader markets as well. The Nifty Midcap 100 and Nifty Smallcap 100 indices dropped by 0.57% and 0.68%, respectively.

Sectoral Performance

All sectoral indices ended in negative territory except for Nifty Media, which managed to inch up by a marginal 0.02%. Major losers included banking, auto, financial services, consumer durables, and oil marketing companies (OMCs), all of which fell by around 1%.

The day clearly belonged to the bears, with selling pressure weighing on key sectors and broader markets alike.

Oil Prices

As of December 17, 2024, at 03:54 PM, Brent Crude was trading at $73.37, down by 0.73%.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.