The Indian stock market had a roller-coaster session on December 13, 2024. Benchmark indices Sensex and Nifty 50 saw sharp declines of over 1.5% intraday before rebounding strongly to close in the green. Let’s dive into the numbers, the underlying factors, and what this means for investors.
Also read: FMCG stocks drop as demand concerns weigh on sector
Market performance: From deep red to a green finish
The trading session started on a grim note with the Sensex crashing over 1,200 points to touch 80,082.82, and Nifty 50 plunging 370 points to 24,180.80. However, a remarkable recovery followed:
| Metric | Opening Low | Closing High | Change (%) |
| Sensex | 80,082.82 | 82,133.12 | 1.04 |
| Nifty 50 | 24,180.80 | 24,768.30 | 0.89 |
Sectoral performance: Winners and losers
The rebound was uneven across sectors. While FMCG, Private Banks, and IT led the recovery, metal and realty stocks faced headwinds.
Also read: Comparing Nifty Total Market Index and Nifty 50
Top-performing sectors
| Sector | Change (%) |
| Nifty FMCG | 0.01 |
| Consumer Durables | 0.009 |
| Private Banks | 0.007 |
Lagging sectors
| Sector | Change (%) |
| Nifty Metal | -2.01% |
| Nifty Auto | -0.83% |
| Realty | -0.79% |
You may also like: Get to Know Nifty 50: Calculation and Top 10 Stocks
Key factors influencing the market
Global pressures
The Indian market’s movements were significantly impacted by global factors:
- US dollar strength: The dollar index remained above the 107 mark, exerting pressure on Asian currencies.
- Rising US treasury yields: These gains hit emerging markets, including India, as higher yields dampened risk appetite.
Domestic cues
- Retail inflation easing
Inflation fell to 5.48% in November, within the RBI’s comfort zone, down from 6.21% in October. This provided relief to market participants, bolstering sectors like FMCG. - Institutional activity
Foreign Institutional Investors (FIIs) sold stocks worth ₹3,560 crore. However, domestic buying helped offset this pressure. - Technical support levels
The Nifty 50 found support at 24,550, which coincided with key retracement levels, aiding the recovery.
Stocks to watch
Bharti Airtel shines
Heavyweights like Bharti Airtel (+4.4%), ICICI Bank, and HDFC Bank played a crucial role in pulling the market out of the red.
you may also read: Nifty BeES: ETF with Returns of Top 50 Stocks
Metal stocks struggle
The metal sector bore the brunt of global uncertainties:
| Stock | Decline (%) |
| Tata Steel | -3% |
| JSW Steel | -3% |
| Hindalco | -2% |
Technical outlook: What’s next for Nifty 50?
Analysts believe the Nifty 50 is poised to maintain its upward momentum, with potential targets of 25,000–25,125 in the short term.
- Support levels: 24,400–24,550
- Resistance levels: 24,858–25,125
The index formed an Inside Bar candlestick pattern, suggesting consolidation with an upward bias.
Conclusion
The market’s ability to rebound from steep losses underscores its resilience, driven by easing inflation and support from heavyweights like Bharti Airtel and HDFC Bank. However, global uncertainties, including a strong dollar and rising treasury yields, remain key concerns.
For investors, this volatility presents both challenges and opportunities. Staying informed about Sensex today, Nifty 50 today, and Nifty 50 share price movements is crucial to navigating these dynamic markets.
