The BSE Sensex fell by 384.55 points (0.47%), closing at 81,748.57, while the NSE Nifty50 dropped 100.05 points (0.40%) to end at 24,668.25.
During the trading session, the Sensex ranged between 82,116.44 and 81,551.28, while the Nifty oscillated between a high of 24,781.25 and a low of 24,601.75. Market sentiment leaned bearish, with 36 of the 50 Nifty stocks ending in the red.
The broader market, however, outperformed, with the Nifty Midcap100 gaining 0.77% and the Nifty Smallcap100 rising 0.64%.
Impact on the stock market
Sectoral indices displayed a mixed performance. While some sectors saw notable gains, others dragged the market down:
- Realty sector: The top performer, with the Nifty Realty index surging 3.10%, led by Oberoi Realty, Prestige Estates, and Macrotech Developers.
- Pharma, Media, and PSU Banks: These indices closed in the green, showing resilience amid the weak market sentiment.
- Lagging sectors: Financial Services, FMCG, IT, Metal, and Oil Marketing Companies (OMCs) saw declines of up to 0.97%, dampening investor morale.
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| Sector/Index | Performance |
| IT & BPM sector | -0.74% |
| Healthcare sector | +0.35% |
| Oil & Gas sector | -0.58% |
| Real estate sector | +3.10% |
| PSU Bank in India | +0.51% |
Top gainers today
| Company | Price | Change % |
| Dr Reddys Labs Share Price | 1,269.95 | +1.89 |
| IndusInd Bank Share Price | 999.35 | +1.29 |
| HDFC Life Share Price | 634.95 | +0.38 |
| Bajaj Finance Share Price | 7,208.40 | +0.36 |
| Power Grid Corp Share Price | 335.00 | +0.34 |
Top losers today
| Company | Price | Change % |
| Titan Company Share Price | 3,438.20 | -2.01 |
| Adani Ports Share Price | 1,243.15 | -1.33 |
| TCS Share Price | 4,415.20 | -1.31 |
| Hindalco Share Price | 653.50 | -1.30 |
| BPCL Share Price | 297.95 | -1.24 |
Market aftermath: Impact on stocks
Swiggy stock hits record high
Swiggy’s stock soared to a new high of ₹583, rising by 9.51% in today’s trade. The surge came after Axis Capital issued a ‘BUY’ recommendation, estimating a 20% upside potential and setting a target price of ₹640.
Swiggy’s shares have shown impressive growth, gaining 40% from their listing price and 14.32% in just the last two trading sessions.
Also read: Swiggy IPO: Key Details, GMP & Expert Advice on Investing
SPARC jumps 12% ahead of R&D update
Sun Pharma Advanced Research Company (SPARC) saw its shares soar 13% as investors anticipate updates on its clinical programs and R&D pipeline, scheduled for December 19, 2024. The company recently reported progress in its Proseek study for Vodobatinib and a Phase I trial for SCD-153, generating optimism about its ongoing projects.
On the technical front, SPARC shares broke through the 10-day and 20-day EMA, signifying strong upward momentum.
Shrimp farming stocks rise
Aquaculture stocks Avanti Feeds and Kings Infra Ventures gained 5-6% as Indian shrimp exporters anticipate increased global demand.
- Venezuelan shrimp producer Grupo Lamar faces disruptions due to internal political turmoil, impacting its exports to Europe.
- Ecuador’s oversupply to the US market is slowing due to potential La Niña conditions, creating opportunities for Indian exporters.
A Crisil report projects an 8-10% revenue growth for Indian shrimp exporters in FY25, bolstering the bullish sentiment in the sector.
Crude oil outlook
Crude oil prices fell as markets awaited clarity on the US Federal Reserve’s interest rate policy. On Monday:
- February Brent oil futures were down 0.28% at $74.28.
- January WTI crude futures slipped 1.04% to $70.55.
- On the Multi Commodity Exchange (MCX), December crude oil futures declined 0.31%, trading at ₹6,023, while January futures dropped 0.32% to ₹6,003.
China’s robust economic data, with a 5.4% year-on-year growth in industrial production for November, provided some support for crude prices. Increased manufacturing activities in China are expected to boost global oil demand in the coming months.
Conclusion
Monday’s market session painted a mixed picture for investors. While the Sensex and Nifty ended in the red, broader markets like midcaps and smallcaps outperformed. Positive developments in specific stocks such as Swiggy, SPARC, and shrimp farming companies provided bright spots in an otherwise lacklustre day. Crude oil markets remain under pressure but could see a turnaround depending on economic cues from the US and China.
For investors, this day underscores the importance of diversification and staying alert to sector-specific opportunities in an evolving market landscape.
For more stock market insights, check out the StockGro blog.
