Bears tighten grip on markets; Sensex tanks 1,176 points; Nifty falls below 23,500 level

From the 30 blue-chip Sensex pack, JSW Steel, Nestle and Titan were the gainers. File
| Photo Credit: Reuters

Equity benchmark indices Sensex and Nifty plunged about 1.5% on Friday (December 20, 2024), taking their downtrend to the fifth straight session, owing to risk aversion in the global markets after the hawkish stance of the U.S. Federal Reserve.

The 30-share BSE benchmark tumbled 1,176.46 points or 1.49% to settle at 78,041.59. During the day, it slumped 1,343.46 points or 1.69% to 77,874.59. The NSE Nifty tanked 364.20 points or 1.52% to 23,587.50.

From the 30 blue-chip Sensex pack, Tech Mahindra, IndusInd Bank, Axis Bank, Mahindra & Mahindra, Tata Motors, Larsen & Toubro, State Bank of India, Tata Consultancy Services, UltraTech Cement and Reliance Industries were the biggest laggards. In contrast, JSW Steel, Nestle and Titan were the gainers.

In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong settled lower. Equity markets in Europe were trading in the negative territory. Wall Street ended on a mixed note on Thursday (December 19, 2024.)

Foreign Institutional Investors (FIIs) offloaded equities worth ₹4,224.92 crore on Thursday (December 19, 2024), according to exchange data. Global oil benchmark Brent crude declined 0.96% to $72.18 a barrel.

Falling for the fourth day running, the 30-share BSE benchmark tanked 964.15 points or 1.20% to settle at 79,218.05 on Thursday (December 19, 2024). The Nifty tumbled 247.15 points or 1.02% to sink below the 24,000 mark at 23,951.70.