The 30-share BSE benchmark Sensex declined 214.08 points to 79,003.97 in early trade. The NSE Nifty also dipped 63.8 points to 23,887.90. File
| Photo Credit: Reuters
Equity benchmark indices Sensex and Nifty declined in early trade on Friday (December 20, 2024) amid unabated foreign fund outflows and concerns over the US Federal Reserve signalling fewer rate cuts next year.
The 30-share BSE benchmark Sensex declined 214.08 points to 79,003.97 in early trade. The NSE Nifty also dipped 63.8 points to 23,887.90.
From the 30 blue-chip stocks, Axis Bank, Tech Mahindra, IndusInd Bank, JSW Steel, ITC, Larsen & Toubro, UltraTech Cement and HDFC Bank were the biggest laggards.
Titan, NTPC, Bajaj Finance, Bharti Airtel, Tata Consultancy Services and Maruti were among the gainers.
In Asian markets, Seoul quoted lower while Tokyo, Shanghai and Hong Kong were trading in the positive territory.
Wall Street ended on a mixed note on Thursday (December 19, 2024).
Foreign Institutional Investors (FIIs) offloaded equities worth ₹4,224.92 crore on Thursday (December 19, 2024), according to exchange data.
“The FII buying witnessed in early December is getting reversed now with this week’s selling reaching ₹12,229 crore. This change in FII strategy is getting reflected in market trends, too, with largecaps, particularly financials, coming under pressure due to FII selling. The negative response to the Fed’s commentary yesterday will be temporary. Recovery led by largecaps is possible in the near-term,” V. K. Vijayakumar, Chief Investment Strategist, Geojit Financial Services, said.
Global oil benchmark Brent crude declined 0.69% to $72.38 a barrel.
Falling for the fourth day running, the 30-share BSE benchmark tanked 964.15 points or 1.20% to settle at 79,218.05 on Thursday (December 19, 2024). The Nifty tumbled 247.15 points or 1.02% to sink below the 24,000 mark at 23,951.70.
Published – December 20, 2024 10:16 am IST