December 24th 2024.
In the bustling city of Mumbai, the stock market saw a relatively quiet day on Tuesday as the benchmark indices Sensex and Nifty closed with minor changes. Investors seemed to be playing it safe and remaining on the sidelines in anticipation of potential market triggers amidst the continuous outflow of foreign funds.
The 30-share index, after experiencing fluctuation between highs and lows, ended the day with a slight decline of 67.30 points or 0.09 per cent at 78,472.87. Earlier in the day, it had dropped by 142.38 points or 0.18 per cent to 78,397.79. Similarly, the NSE Nifty also saw a dip of 25.80 points or 0.11 per cent, closing at 23,727.65.
Among the top 30 companies, Power Grid, State Bank of India, Titan, Tata Steel, IndusInd Bank, UltraTech Cement, Adani Ports, and Infosys were among the laggards. On the other hand, Tata Motors, ITC, Nestle, Tata Consultancy Services, NTPC, and Zomato showed some gains.
According to exchange data, Foreign Institutional Investors (FIIs) sold off equities worth Rs 168.71 crore on Monday. Meanwhile, in the Asian markets, Shanghai and Hong Kong closed higher, while Seoul and Tokyo ended in the negative territory. In Europe, markets were trading with gains during mid-session deals and Wall Street also saw a positive end to Monday's overnight trade.
In the global oil market, Brent crude rose by 0.62 per cent to USD 73.08 per barrel. The previous day, the BSE benchmark had jumped by 498.58 points or 0.64 per cent, closing at 78,540.17. Similarly, the Nifty saw a surge of 165.95 points or 0.70 per cent, ending at 23,753.45.
Overall, it was a day of mixed results for the stock market, with some companies seeing losses and others gaining. Investors were keeping a close eye on the situation and waiting for potential triggers that could impact the market. With foreign funds still flowing out, it seems caution and patience are the key strategies for now.
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