Stock Market Highlights 13 December 2024: Bulls fight back! Sensex closes 843 points higher; Nifty settles at 24,768
Share Market Updates 13 December 2024: Benchmark indices Sensex and Nifty closed the week on a firm note. Sensex ended 843.16 points or 1.04% higher at 82,133.12, while Nifty 50 closed positive by 219.60 points or 0.89% at 24,768.30.
In a dramatic turnaround, the Sensex recovered over 1,000 points from its intraday losses to trade in the green by Friday noon. At 3:12 PM, the Sensex was up 824.11 points (1.01%) at 82,114, while the Nifty gained 219.50 points (0.89%) to reach 24,768.20. Vikas Jain, Head of Research at Reliance Securities, attributed the market’s earlier decline to global weaknesses and persistent Foreign Institutional Investor (FII) selling. He noted that US markets had fallen over 0.5% due to profit booking and mixed economic data ahead of the Federal Reserve’s upcoming interest rate decision. While Asian markets displayed mixed trends, European indices saw gains following the ECB’s expected 25-basis point rate cut. Domestic optimism remained intact, supported by easing inflation and robust October industrial output, with hopes of a potential US Fed rate cut offering buying opportunities.