DIIs save Dalal Street as Santa bails

Santa’s rally has gone missing on Dalal Street this year, and the absence says more about global macro realities than about any broken market tradition.

- Mayur Bhalerao

The Sensex is on track to end December marginally in the red, extending last year’s weak finish and marking the sixth time in close to a decade that the benchmark has closed the holiday month with losses.

A Mint analysis shows the index headed for a modest decline of about 0.2% in December, following a 2% fall in December 2024. The only worse December in recent years was 2022, when the Sensex dropped almost 4%. This subdued performance contrasts sharply with December 2020 and 2023, when markets surged 8.2% and 7.8%.

That weakness stands out because December has historically been one of the strongest months for Indian equities.