Indian markets experienced a sharp downturn today, with all major indices closing in the red amid increased volatility.

Indices Performance:

• Nifty 50: 23,587 (-1.52%)

• Sensex: 78,041 (-1.49%) • India VIX: 15.07 (-3.86%) – indicating elevated market volatility.

Sectoral Highlights:

• Top Losers:

• Nifty Realty (-3.91%)

• PSU Bank (-2.65%)

• IT (-2.63%)

All sectors ended the day in negative territory, signaling broad-based selling pressure.

Top Movers:

• Gainers:

• General Insurance Corporation: ₹501 (+13.23%)

• Aegis Logistics: ₹825 (+9.31%)

• Loser:

• Siemens: ₹6,868 (-10.0%)

Key News Updates:

1. MTAR Technologies (MTARTECH): Shares surged 5.83% after securing international orders worth USD 26.72 million for aviation and defense projects.

2. KPI Green Energy (KPIGREEN): Stock gained 4.97% following the signing of an MoU with the Rajasthan Government for hybrid, solar, and wind power projects.

3. BASF: Approved the demerger of its Agricultural Solutions business into a separate entity, leading to a 4.38% rise in its share price.

4. GVT&D: Won a ₹400 crore order from Sterlite Grid for supplying high-voltage equipment, boosting shares by 2.12%.

5. Tata Power (TATAPOWER): Partnered with Canara Bank under the PM Surya Ghar Scheme to finance rooftop solar installations, but the stock declined by 2.79%.

Market Sentiment:

The broader market displayed a strongly negative sentiment, with only 313 stocks advancing, while 2,035 stocks declined.

India’s foreign exchange reserves also declined by $2 billion this week, settling at $652.87 billion.

Global Economic Calendar –

December 20, 2024

1. United States:

• Personal Income and Spending (November): Key indicators for consumer behavior.

• University of Michigan Consumer Sentiment Index: Offers insights into economic confidence.

2. Eurozone:

• Current Account Balance (October): Highlights trade and financial flows in the region.

3. China:

• House Price Index (November): Gauges trends in the real estate market.

4. Japan:

• Bank of Japan Monetary Policy Statement: A critical update on interest rates and monetary policy outlook.

Technical Outlook:

The markets continued to face significant selling pressure, with limited buying interest observed across sectors.

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Stay informed with daily updates as we track evolving trends in both domestic and global markets.