Nifty, Sensex Flat as Year-End Volumes Drop, Metals Down

The Nifty and Sensex indices remained flat on December 24, 2024, as trading volumes dropped due to year-end holidays. The Nifty was up just 0.75 points at 23,754.20, and the Sensex was up 13.90 points at 78,554.07.

The broader market, represented by mid-small cap stocks, showed weak trends. The midcap 100 index fell 0.3%, and the smallcap 100 index slipped 0.2%. Tata Motors, TCS, Hero MotoCorp, Bharti Airtel, and Dr Reddy’s were the top gainers on the Nifty.

Metal and consumer stocks fell, while infrastructure shares saw slight gains. Reduced participation from foreign institutional investors (FIIs) and low volumes led to sideways market movement. Analysts expect earnings growth to be crucial for market sentiment.

Third-quarter earnings are expected to be slightly better than the first half, recovering from earlier challenges like erratic monsoons and political uncertainties. Retail participation has supported small and mid-cap stocks, outperforming large caps recently.