Stock Market News: December 22, 2024
12:26 PM IST
In the latest restructuring of the FTSE index, notable additions have emerged, with Bharti Hexacom and Go Digit General Insurance stepping into the spotlight. Forecasts suggest these inclusions could siphon an impressive influx: roughly $36 million (about 2 million shares) for Bharti Hexacom and $19 million (around 5 million shares) for Go Digit. Such adjustments underscore the dynamic nature of market movements, where every upheaval can create ripples across financial ecosystems.
11:19 AM IST
A stark reality looms over the market as the market capitalization of the top ten firms has taken a hit, plummeting by ₹4.95 lakh crore. Among the hardest hit are titans like TCS and Reliance, illustrating the mercurial temperament of today’s economic climate where bullish trends can swiftly turn bearish, leaving even the giants in a vulnerable position.
11:09 AM IST
Looking ahead, Ganesh Dongre, Senior Manager of Technical Research at Anand Rathi, has flagged three stocks poised for action this Monday, December 23. The Nifty’s Open Interest (OI) data paints an intriguing picture: currently, it hovers in an oversold zone at 0.75. Dongre suggests that if the index manages to stabilize above the 23,300–23,500 threshold before the monthly expiry, short-covering might ignite a market uptick, offering potential avenues for savvy investors.
09:52 AM IST
Anticipation builds around Zomato, as the stock has spectacularly surged more than 43% over the past six months—a performance starkly contrasting the relatively flat trajectory of the benchmark Sensex. This year, Zomato has delivered astounding multibagger returns exceeding 126%, while its astronomical ascent of 350% over the last two years positions it as a key player in the market narrative.
06:38 AM IST
Looking ahead to the near horizon, this week presents a series of decisive market triggers. The convergence of monthly derivatives expiry, fresh IPOs, shifts in foreign fund inflows, and pivotal global cues are all poised to steer the bullish or bearish course of the Sensex and Nifty. Experts anticipate that the Nifty may test the psychological barrier of 24,000, fuelling speculation and strategic moves among traders and investors alike.
In this complex tapestry of market fluctuations, staying acutely aware of these multidimensional dynamics is essential for navigating the often treacherous waters of financial investment.
