Simultaneously, the Nifty commenced the day with positive momentum, opening 99.35 points up at 21,616.50. Among the Nifty firms, advances outnumbered declines with 29 companies experiencing gains and 21 facing declines.
Indian stock indices continued to trade in the red on Wednesday, extending losses for the third session of 2024, primarily attributable to dragged profit booking after a stellar cumulative performance in 2023. High valuations, too, are a concern.
The Supreme Court on Wednesday will pronounce its judgement on a batch of petitions seeking a court-monitored investigation into the allegations made by US-based firm Hindenburg Research against the Adani group of companies regarding violations of the stock market.
Indian stock indices continued to trade in the red on Tuesday, extending losses from the previous session, primarily attributable to profit booking after a stellar cumulative performance in 2023. High valuations, as analysts pointed out, too, are a concern.
According to a press release by NSE, the Exchange has brought attention to the fact that subscribing to such schemes or products offering indicative, assured, or guaranteed returns in the stock market is prohibited by law.
The Sensex recorded a decline of 100.68 points, opening at 72,171.26, while the Nifty experienced a drop of 39.60 points, starting at 21,702.30. This downward trend set the tone for the day's trading activity, prompting investors to closely monitor market movements.
Particularly in December, they made a beeline to invest in Indian stock markets, with a cumulative accumulation of Rs 66,135 crore. To put it into context, the entire year saw an inflow of about Rs 171,107 crore, and notably, over one-third of it came in December.
The day commenced with a dazzling surge, with Sensex surging by an impressive 275.62 points, unveiling itself at an extraordinary 72,323.34. In tandem, Nifty painted a picture of optimism, marking a spirited rise of 75.25 points and kicking off the trading day at an electrifying 21,737.70.
The Sensex soared past the remarkable milestone of 72,000, while Nifty outperformed by surpassing 21,600. These impressive gains translated to a substantial rise of 18.62 per cent for the Nifty50 and a commendable 17.4 per cent increase for the Sensex over the course of the year.
Wednesday saw the listing of three initial public offerings on Indian stock exchanges. Happy Forgings listed with a 17 per cent premium, while Credo Brands and RBZ Jewellers made their debuts largely on a muted note.