Ahead of Market: 10 things that will decide stock market action on Wednesday
stocks weighed on the benchmarks.
The benchmark BSE Sensex lost 109.12 points or 0.14% to close at 78,139.01, while the broader Nifty 50 index closed at 23,644.80, lower by 0.10 points.
Here's how analysts read the market pulse:
Commenting on the day’s action, Vinod Nair, Head of Research at Geojit Financial Services said the final day of the year concluded with minor losses, despite a recovery from the day's lows, adding that the pressure of consolidation is dragging the domestic momentum amid negative global cues and ongoing concerns over a strengthening dollar index and US bond yields.
“Losses were mainly in IT and realty stocks, while other sectors saw gains. FII outflows and rising crude prices are pressuring the rupee and dampening sentiment. Nonetheless, the market's focus is expected to shift back to domestic Q3 results for insights into potential growth and earnings recovery and to the Union budget, offering a short- to medium-term perspective amid global uncertainties,” Nair added.
US markets
Wall Street's major indexes opened higher in the final session of 2024, capping a two-year bull run driven by post-pandemic recovery, easing borrowing costs, and the AI boom.
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