BSE Sensex: Fell 502.25 points (0.62%), settling at 80,182.20. The index oscillated between 80,868.02 and 80,050.07 during the day.
NSE Nifty50: Declined 141.21 points (0.58%), closing at 24,198.85. It traded in a range of 24,394.45 to 24,149.85.
Market breadth remained weak, with 33 of Nifty50’s constituents ending in the red. Broader indices mirrored the benchmarks, with Nifty Midcap100 and Nifty Smallcap100 indices falling 0.64% and 0.87%, respectively.
Impact on the stock market
The sectoral indices painted a mixed picture:
- Banking stocks bore the brunt of the sell-off, with Bank Nifty, PSU Bank, and Private Bank indices falling by up to 1.92%.
- Financials, Media, and Consumer Durables indices also ended lower, with losses of up to 2.24%.
- On a positive note, IT, Pharma, and Healthcare indices provided some relief, managing modest gains.
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| Sector/Index | Performance |
| IT & BPM sector | 0.25% |
| Healthcare sector | +0.62% |
| Oil & Gas sector | -0.84% |
| Real estate sector | -0.47% |
| PSU Bank in India | -1.75% |
Top gainers today
| Company | Price | Change % |
| Trent Share Price | 7,113.75 | 2.48 |
| Dr Reddys Labs Share Price | 1,276.90 | 2.34 |
| Cipla Share Price | 1,472.40 | 1.49 |
| Wipro Share Price | 312.60 | 1.21 |
| Bajaj Auto Share Price | 8,956.75 | 0.69 |
Top losers today
| Company | Price | Change % |
| Tata Motors Share Price | 755.70 | -3.08 |
| Power Grid Corp Share Price | 321.55 | -2.50 |
| Bharat Elec Share Price | 303.80 | -2.19 |
| NTPC Share Price | 341.75 | -2.09 |
| JSW Steel Share Price | 946.85 | -2.07 |
Market aftermath: Impact on stocks
Akzo Nobel India surges on acquisition buzz
Shares of Akzo Nobel India, the maker of Dulux Paints, rose sharply by 6% following reports of a potential $2-2.5 billion asset sale. The race for acquiring its assets has reportedly narrowed down to Pidilite Industries, JSW Paints, and Indigo Paints.
Parent company Akzo Nobel NV has engaged Citigroup to manage the sale of its 75% stake in the Indian unit. Notably, Pidilite is offering a share swap deal, while Indigo Paints and JSW Paints are reportedly in talks with private equity investors. The strong buying interest in Akzo Nobel India’s shares reflects heightened optimism about the deal.
Vishal Mega Mart delivers stellar IPO gains
Newly listed Vishal Mega Mart continued its strong run, with shares climbing 45% post-listing. The stock debuted at ₹104 on the NSE, a 33% premium over its IPO allotment price of ₹78, before surging to ₹113.09.
The Gurugram-based supermarket chain’s ₹8,000-crore IPO saw overwhelming demand, with the public issue being subscribed 27 times. With its market capitalisation crossing ₹50,000 crore, Vishal Mega Mart has established itself as a promising retail player.
Also read: Vishal Mega Mart Sets Mid-December Target for ₹8,000 Crore IPO
Enviro Infra Engineers pulls back after a rally
Shares of Enviro Infra Engineers fell 10% to ₹342.5 after a five-day winning streak. Despite the decline, the stock remains up 156% from its IPO price, thanks to strong investor interest in the water treatment sector.
The company, which debuted on 29th November, specialises in designing and maintaining water and wastewater treatment plants. Analysts recommend a long-term hold, citing robust growth potential and a solid order book.
Crude oil outlook
Crude oil futures reflected global uncertainty:
- Brent oil futures (Feb): Down 0.01%, at $73.18.
- WTI futures (Jan): Fell 0.60%, at $69.66.
On the Multi Commodity Exchange (MCX), December crude oil futures rose 0.42% to ₹5955. The American Petroleum Institute (API) reported a 4.7 million barrel decline in US crude inventories for the week ending 13th December. However, an increase in gasoline inventories by 2.9 million barrels hinted at softer demand, likely due to reduced travel during winter.
The market is also closely watching the outcome of the US Federal Reserve meeting, where a 25-basis-point rate cut is anticipated. This decision could shape demand expectations for crude oil in 2025.
Conclusion
Today’s market session reflected a mix of cautious sentiment and selective optimism. While indices closed in the red, stocks like Vishal Mega Mart and Akzo Nobel India provided bright spots.
Broader market trends and global factors, including crude oil dynamics and the US Fed meeting, will likely influence the market’s direction in the coming days. Investors are advised to tread cautiously, focusing on fundamentally strong stocks.
For more stock market insights, check out the StockGro blog.
