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Indian stock indices faced significant losses this week, with Sensex and Nifty shedding around 5% each due to foreign selling and global market pressures.
The Business Guardian
|December 21, 2024
India's merchandise trade deficit for November stood at USD 37.84 billion, driven by a surge in imports relative to exports. This is reportedly the highest monthly trade deficit on record. "The negative response to the Fed's commentary yesterday will be temporary. Recovery led by largecaps is possible in the near-term," said V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services. Last week, Indian equity markets rebounded sharply in the second half on Friday, managing to end the week with marginal gains.
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Stock indices in India witnessed another day of bloodbath, with Sensex and Nifty shedding about 1.5 per cent each on the last day of this week. Sensex closed at 78,041.59 points, down 1.5 per cent or 1,176 points, while Nifty closed at 23,587.50 points, down 364.20 points or 1.52 per cent today. All sectoral indices were deep in the red today, with Nifty IT, PSU bank, auto, and realty were the top losers.
This story is from the December 21, 2024 edition of The Business Guardian.
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