In line with the weak trend in Asian markets, Indian stock markets opened sharply lower on Tuesday in the last trading session of 2024. Rising bond yields in the US (US Treasury) have had a negative impact on emerging stock markets. Due to which foreign investors are withdrawing money from these markets. There is a bearish atmosphere in the stock market on the second day of the trading week. As of 9.30 am, the Sensex opened 391 points down at 77,856. While Nifty opened with a fall of 95 points at 23,549 points.
Impact of foreign sales visible
So far this year, Nifty and Sensex have gained 8.8% and 8.3% respectively. This is significantly less than the nearly 20% jump in 2023. The market has been impacted due to poor quarterly results of corporates and continuation of foreign sales in the last quarter.
Adani Wilmar shares fell 5%
As soon as the market opened on Tuesday (December 31), shares of Adani Group company Adani Wilmar fell by 7%. Actually, this fall in the shares of Adani Wilmar has come after the news of Gautam Adani selling his entire 44% stake in the company.
Sales continue by foreign investors
Foreign investors (FIIs) on Monday invested Rs. Shares worth ¥240.45 billion ($2.8 million) were sold and were net sellers for the 10th consecutive trading session. In contrast, domestic investors were net buyers for the 9th consecutive trading session.
loss of 3 lakh crores
Even in the last session of the year, investors have suffered a loss of more than Rs 3 lakh crore. The market cap of BSE listed shares fell to Rs. Which was Rs 437.82 lakh crore in the last session. 441.35 lakh crore. That means in today’s session investors will get Rs. There has been a loss of Rs 3.53 lakh crore.
These shares spoiled the mood
In the last session of the year, IT sector shares have spoiled the mood of the market. Due to selling in IT shares, Nifty IT index is trading around 1000 points down. Apart from this, a decline is being seen in the shares of banking, FMCG, metal, consumer durables, healthcare, energy, media sectors. Only shares of pharma and oil and gas sectors are seeing growth.
How was the market on Monday?
India’s benchmark indices fell on Monday, led by bank stocks. This decline, rising US bond yields and the possibility of a US rate cut in 2025 fueled foreign inflows and negatively impacted market sentiment.
The 30-share BSE Sensex closed at 78,248.13 on Monday (December 30), down a massive 450.94 points or 0.57%. Similarly, Nifty-50 of National Stock Exchange also closed at 23,644.90, down 168.50 points or 0.71%.
