Sensex, Nifty 50 today: The Indian stock market rallied when trading for the week opened on Monday, December 23, 2024. This comes after the market crashed last week, with investors losing a combined ₹18.5 lakh crore.
The benchmark BSE Sensex rose by 447.05 points or by 0.57%, trading around 78,488.64 at 9:15 am IST.
At the same time, the broader NSE Nifty rose by 169.25 points or by 0.72%, trading around 23,756.75.
Bajaj Finance Ltd rose the most on the Sensex by 1.43 %, trading at ₹6,934.65, followed by Reliance Industries Ltd rising by 1.31%, trading at ₹1221.85, and HDFC Bank going up by 1.27%, reaching ₹1,794.55.
Also Read: The top 10 IPOs of 2024 by how much they gained on listing day
How did the market perform last week?
The stock market closed last week with the Sensex plummeting by 1,176.46 points or by 1.49%, closing in at 78,041.59.
28 out of the 30 Sensex stocks closed in the red.
Meanwhile, the Nifty fell by 364.20 points or 1.52%, closing at 23,587.50. 45 out of the 50 Nifty stocks closed in the red.
Also Read: Amazon Prime goes the Netflix way, cracks down on password sharing from 2025
This was the fifth straight day of losses for the Nifty and the week was also the worst one for 2024.
Every single one of the Nifty sectoral indices closed in the red.
This comes at a time when foreign investors offloaded ₹3,597.82 crore worth of equities on Friday, data from the BSE showed.
It also comes when the US Federal Reserve showed a hawkish outlook and expects fewer interest rate cuts in 2025, which led to global markets as well as the Indian market to experience huge levels of sell-offs.
Also Read: What gets cheaper, what is costlier after GST Council meet? Details here
Among the Nifty sectoral indices, Nifty realty fell the most by 3.91%, followed by Nifty Midsmall IT & Telecom at 3.71%, and Nifty Midsmall Financial Services at 3.41%.