Indian Stock Market Soars on 'Fab Friday'

On December 13th, 2024, Indian benchmark indices experienced a significant surge, concluding the week on a positive note.

The Sensex, after recovering from initial losses, closed at 82,133.12, marking an increase of 843.16 points (1.04%) and a remarkable 2050-point rebound from its intraday low.

The Nifty 50 also performed strongly, ending at 24,768.30, a gain of 219.60 points (0.89%), after reaching a low of 24,180.80.

A majority of constituent stocks (41 out of 50) in the Nifty 50 index closed in positive territory, with notable gains observed in Bharti Airtel, ITC, Kotak Mahindra Bank, Hindustan Unilever, and UltraTech Cement.

Conversely, some stocks like Shriram Finance, Tata Steel, Hindalco, IndusInd Bank, and JSW Steel experienced losses, contributing to a mixed performance across sectors.

While the Nifty FMCG, IT, Consumer Durables, and Financials sectors showed growth, Nifty Media, Metal, Pharma, PSU Bank, Realty, and Healthcare indices ended lower, indicating sector-specific variations.

Despite FII net selling of Rs 3,560.01 crore, the market's positive momentum suggests strong underlying strength, with analysts predicting further potential growth for the Nifty 50 index in the short term, potentially reaching 25,000 or higher.