Mumbai: The Indian stock market recorded a huge selloff across segments on December 13, 2024 (Friday) leading to BSE Sensex plunging nearly 1 per cent to 80,531.52 at 11:20 am. The Nifty also plunged nearly 1 per cent to 24,312.60. The Midcap and smallcap indices declined nearly 2 per cent each during the morning trade. The BSE Midcap and Smallcap indices up to 2 per cent. The investors lost around Rs 7 lakh crore in a single session.
How the indices performed at around noon:
59,870.68
-636.11 -1.05%
BSE FOCUSED MIDCAP
24,924.74
-296.37 -1.18%
BSE 100
25,873.43
-211.75 -0.81%
BSE SENSEX 50
25,636.41
-188.00 -0.73%
BSE SENSEX Next 50
84,601.58
-981.88 -1.15%
BSE Bharat 22 Index
8,853.21
-100.29 -1.12%
BSE SENSEX SIXTY
33,140.55
-266.52 -0.80%
BSE MidCap
47,306.02
-509.86 -1.07%
BSE SmallCap
56,553.11
-572.03 -1.00%
BSE 200
11,276.30
-98.49 -0.87%
BSE 150 MidCap Index
16,264.23
-176.51 -1.07%
BSE 250 SmallCap Index
7,252.95
-88.76 -1.21%
BSE 250 LargeMidCap Index
10,703.21
-94.24 -0.87%
BSE 400 MidSmallCap Index
12,419.88
-140.92 -1.12%
BSE 500
36,247.48
-331.82 -0.91%
BSE LargeCap
9,502.24
-80.62 -0.84%
Why market is down today
The domestic stock market witnessed a fall amid weak global cues due to elevated US dollar and bond yields. Notably, Asian stock markets, including Tokyo, Shanghai, Hong Kong and Seoul traded lower. The Asian stocks traded on weak note after the US dollar increased. Reuters reported that longer-dated treasury yields were heading for their biggest weekly rise this year.
Also, US consumer price index (CPI) inflation increased in seven months. It jumped 2.7 per cent in November from a year ago, marginally up from 2.6 per cent in October.
The domestic exchange data showed that foreign Institutional Investors (FIIs) offloaded equities worth Rs 3,560.01 crore on December 12, 2024, which also dented the market sentiments. Commenting on the FII outflows, V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services, said, due to the high valuations of stocks in India, FIIs are expected to sell more at every market rise.
Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd, opined that the investors are adopting a cautious approach ahead of US Federal Reserve’s announcement of interest rate decision on December 18.
IIP and Retail Inflation data
The Bloodbath on Dalal Street was recorded a day after the Ministry of Statistics & Programme Implementation announced that India’s Industrial Production (IIP) growth slowed to 3.5 per cent year-on-year in October 2024. The downfall was a result of poor performance of mining, power and manufacturing.
The Retail inflation data released on Thursday stated that it declined in November 2024 to 5.48 per cent. “During the month of November, 2024 significant decline in inflation is observed in vegetables, pulses and products, sugar and confectionary, fruits, eggs, milk and products, spices, transport and communication and personal care and effects subgroups,” National Statistics Office (NSO) said in a statement.
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Bloodbath was reported on Dalal Street on December 13, 2024. The benchmark indices Nifty 50 and BSE Sensex crashed nearly 1 per cent. Let’s see why Indian stock market is down today? Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
