The Indian market closed with modest losses on December 24. The Nifty 50 fell 0.13% to 26,142 and the Sensex slipped 0.14% to 85,408. Weak foreign selling and thin year‑end trading kept sentiment low, while investors wait for the upcoming Q3 earnings season.
Market Overview
The Indian market closed with modest losses on December 24. The Nifty 50 fell 0.13% to 26,142 and the Sensex slipped 0.14% to 85,408. Weak foreign selling and thin year‑end trading kept sentiment low, while investors wait for the upcoming Q3 earnings season.
Sector Moves
IT stocks led the decline, with the Nifty IT index down 0.5% after the U.S. Department of Homeland Security changed its H‑1B visa selection process. Oil & Gas and Chemicals each dropped about 0.76%. Media, chemicals, metals and FMCG were the few gainers.
Top Gainers
- JBM Auto – up 11% to ₹639, extending a four‑day rally.
- Hindustan Copper – rose 7.1% to ₹436.8, boosted by global metal price gains.
- Other metal stocks (GMDC, Hindustan Zinc, Vedanta, Nalco) – up 3‑5%.
- Banking & NBFCs (Manappuram Finance, IIFL Finance, City Union Bank, Aavas Financiers) – gains of 2‑7%.
- Castrol India – climbed after BP announced a $6 billion sale of a 65% stake to Stonepeak.
- Coal India – closed higher at ₹402 after board approved listing of SECL and MCL subsidiaries.
Top Losers
- Kajaria Ceramics – down 4% to ₹974.3, marking a second straight losing day.
- Navin Fluorine International – fell 3% to ₹5,874 as investors booked profits.
- HFCL – slid 3% to ₹64, now down 43% for the year.
- Other notable laggards: Kirloskar Oil Engines, BSE, Coforge, Valor Estate, Elecon Engineering, Apar Industries, Gland Pharma, Nippon AMC, Persistent Systems, Cyient.
Key Takeaways
- IT sector weakness and foreign selling weighed on the market.
- Metal and auto stocks continued to benefit from higher commodity prices.
- Investors are likely to focus on the upcoming earnings season for direction.
Remember, this is just a snapshot of the market, not a prediction. Always do your own research or consult a qualified advisor before making any investment decisions.