Closing Bell: Sensex Drops 1,176 Points, Nifty Sinks Below 23,600 On December 20

On December 20, 2024, Indian benchmark indices BSE Sensex and NSE Nifty50 experienced a sharp correction, with both closing over 1% lower. 

The Sensex tumbled by 1,176.46 points, or 1.49%, to settle at 78,041.59 after trading in the range of 79,587.15 to 77,874.59. Similarly, the Nifty50 ended the day down by 364.20 points, or 1.52%, at 23,587.50, fluctuating between 24,065.80 and 24,537.35 during the session.

India VIX, the fear index that measures market volatility, surged by 3.87% to close at 15.07 points, indicating heightened uncertainty among investors.

Top Gainers and Losers

The session ended decisively favouring the bears, with 45 out of the 50 Nifty50 constituent stocks closing in the red. Among the top laggards were Tech Mahindra, IndusInd Bank, Mahindra & Mahindra, Axis Bank, and Trent, which recorded up to 3.90% losses. In contrast, only 5 stocks managed to post gains, including Dr Reddy’s Lab, Titan, Nestle India, HDFC Life, and ICICI Bank, with gains of up to 1.49%.

Sectoral Performance
Broader market indices underperformed the benchmarks, with the Nifty Midcap100 and Nifty Smallcap100 falling by 2.82% and 2.19%, respectively. 

All sectoral indices also ended in negative territory, with Nifty Realty, Nifty Select Telecom, and Nifty Financial Services declining by over 3%. Other sectors, such as Nifty IT, Nifty Auto, and Nifty PSU Bank, were also heavily impacted, posting losses of over 2%.

Oil Prices

As of December 20, 2024, at 03:53 PM, Brent Crude was trading at $72.17, down by 0.97%.

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.