Stock Market Live: GIFT Nifty Trades Above 23,900; Brigade Enterprises, SBI, Asian Paints In Focus

The latest update from the stock market indicates that the GIFT Nifty is trading slightly higher, with a 0.1% increase of 18.5 points, currently positioned at 23,915.00. This data was noted as of 7:43 a.m. on December 19, 2024.

Overview of Recent Market Trends

As Asian markets opened, there was a notable trend of lower indices, mainly due to the impact of the recent Federal Open Market Committee (FOMC) decisions in the US. Investors are closely monitoring these developments and their implications on global markets.

US Market Recap

The US markets faced a downturn after the FOMC outcome, where indices fell significantly. The Federal Reserve indicated fewer interest rate cuts and raised their inflation projections. They lowered interest rates by 25 basis points, establishing a target range of 4.25% to 4.50%. Consequently, the Dow Jones Industrial Average and S&P 500 closed down by 2.58% and 2.95% respectively, while the Nasdaq Composite saw an even steeper decline of 3.56%.

Current Focus on Key Stocks

Back on the Indian markets, the GIFT Nifty's current position above 23,900 has put Brigade Enterprises, State Bank of India (SBI), and Asian Paints in the spotlight. Market participants are paying close attention to any relevant news about these companies. Recently, the major equity indices in India dipped nearly 2% over the last three days. This decline can be attributed to the pressure from private bank stocks as investors await policy decisions from the FOMC.

Market Performance Summary

The NSE Nifty 50 index finished its last trading session down by 137.15 points, marking a decline of 0.56% at 24,198.85. Similarly, the BSE Sensex experienced a loss of 502.25 points, ending at 80,182.20, which reflects a decrease of 0.62% for the day.

Foreign Investor Trends

Provisional data from the National Stock Exchange indicates that foreign institutional investors have been net sellers of Indian equities for the third consecutive day. On Wednesday, they sold stocks worth ₹1,316.8 crore. Contrarily, domestic institutional investors were net buyers, acquiring equities worth ₹4,084.1 crore, indicating a mixed sentiment in the market.

Stock, Market, Nifty