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Share Market Today: Sensex Rises, Nifty Follows As Markets Stabilize

Additionally, foreign investors withdrew an amount of Rs 21,612 crore from Indian equities in November. These investors had pulled out Rs 94,017 crore from Indian stock market in October 2024. However, these investors invested Rs 24,267 crore from the Indian equities this month so far.

Share Market Today: India’s benchmark indices, Sensex and Nifty 50, settled down in green on Wednesday, December 11, 2024. The Sensex (index with top 30 firms) was up by 16.09 points to settle at 81,526.14 on Wednesday. Nifty50 (index with top 50 firms) surged 31.75 points to settle at 24,641.80 points.

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Additionally, foreign investors withdrew an amount of Rs 21,612 crore from Indian equities in November. These investors had pulled out Rs 94,017 crore from Indian stock market in October 2024. However, these investors invested Rs 24,267 crore from the Indian equities this month so far.

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Indian stock markets witnessed a significant rally last week, with the Sensex and Nifty indices soaring over 2% to record their largest gains since early June. The surge was primarily triggered by the Reserve Bank of India’s (RBI) move to reduce the Cash Reserve Ratio (CRR) from 4.5% to 4%, injecting liquidity into the financial system. The RBI decision to lower the Cash Reserve Ratio (CRR) is expected to inject liquidity into the system, spur credit growth, and provide a much-needed impetus to India’s economic recovery. Meanwhile, the RBI maintained the status quo on the repo rate, keeping it steady at 6.5%.

The market’s focus has shifted to the US CPI data, as it will play a crucial role in determining the future path of interest rates and foreign investments in emerging markets, including India. Furthermore, the upcoming release of India’s CPI data on December 12 is indeed a crucial event that will significantly influence the RBI’s decision on the timing of its next rate cut.

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Share Market Today: Stocks In Focus

Based on BSE data, here’s a snapshot of how key stocks performed in Wednesday’s trading session.

CompanyPrice ChangeClosing Price (Rs)
ICICI Bank0.23% Down1,327.25
Tata Motors0.13% Down799
TCS (Tata Consultancy Services)0.10% Down4,427.55
Reliance Industries (RIL)0.53% Down1,278.10
JSW Steel1.30% Down999.85
HCL Technologies0.22% Down1,930.75
Tech Mahindra0.53% Down1,754.10
Adani Ports1.25% Down1,233
ITC0.03% Down465.20
Bajaj Finance2.61% Up7,115.75

On Wednesday, 13 out of 30 Sensex constituents ended in the green, while 17 Sensex stocks closed in the red.

ALSO READ: 7th Pay Commission: Central Govt Employees’ DA Now At 53% – Which Two Allowances Increased?

ABOUT THE AUTHOR

Akshat Mittal

Akshat Mittal

Akshat Mittal is a journalist with over 6 years of experience, focusing on business, technology, and the auto industry. He has covered key developments in these areas, helping readers stay up-to-date with the latest trends. Akshat holds a degree in Journalism from NIU and has worked with well-known media outlets like Inshorts and Legacy India Magazine. Before joining News24, he wrote business and political stories for several newspapers and magazines, contributing editorial and analytical pieces. At News24, all of Akshat’s articles go through a thorough fact-checking process to ensure accuracy. His commitment to delivering reliable information has made him a trusted source for readers. Outside of work, Akshat enjoys reading, writing, traveling, and following the latest in cars. You can connect with him on Twitter (@mittalakshat1) for updates or on LinkedIn for professional conversations.

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First published on: Dec 11, 2024 04:15 PM IST


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