Benchmark indices Sensex and Nifty ended the year 2024 with single-digit gains on Tuesday. Sensex gained 8.18% and Nifty climbed 8.76% during the period. During the year, Sensex touched a record high of 85,978 and Nifty reached a peak of 26,277 on September 27.
In the current session, Indian equity market ended on a negative note. Sensex fell 109 pts at 78,139 and Nifty was unchanged at 23,644. Market cap of BSE-listed firms stood at Rs 4.42 lakh crore in the last trading session of 2024.
Kotak Mahindra Bank, ITC, Ultratech Cement, Tata Motors, Tata Steel, SBI, Adani Ports, L&T, NTPC, Sun Pharma, Maruti and Nestle India were the top Sensex gainers rising up to 2.58%. India VIX rose 3.58% to 14.47, signaling a marginal rise in the market volatility in the current session.
As many as 246 stocks hit their 52-week highs today. On the other hand, 293 shares hit their 52-week lows on Tuesday. However, market breadth was positive in the current session. Of 4,079 stocks, 2321 stocks ended in the green. Around 1648 stocks ended in the red while 110 stocks remained unchanged.
After moderate returns by benchmark indices in 2024, here's a look at expectations by analysts from the upcoming year 2025.
Market Outlook
Prashanth Tapse, Senior VP (Research), Mehta Equities said, “With the rupee showing no signs of moderating and hitting fresh lows against the dollar, equity markets too remained under the grip of nervousness although markets erased most of its losses towards the close. Markets could remain volatile over next few weeks as investors await Trump taking charge as US President.”
Dhupesh Dhameja, Derivatives Analyst, SAMCO Securities said, "Currently trading below the 200-DEMA and near its major support zone of 23,500, Nifty faces potential headwinds at current levels. On the upside, the 23,900–24,000 region, reinforced by heavy call writing, presents a stiff challenge for the bulls. Conversely, the 23,500–23,550 range, bolstered by significant put writing and a vital swing low, provides reliable support. A breakout above 24,000 could trigger short-covering, driving the index toward 24,500. On the downside, a decisive breach below 23,500 could accelerate bearish momentum, dragging the index toward the 23,150–23,000 region, where strong put writing offers additional defence. Until a breakout occurs on either side, adopting a cautious "range trading" strategy remains prudent."
Rupak De, Senior Technical Analyst, LKP Securities said, "Following a weak start, the Nifty recovered smartly during the day. However, the technical setup remains unchanged as the index failed to break above any significant moving averages. Despite this, sentiment appeared to improve throughout the session. On the higher end, if Nifty moves above 23,700, it could advance towards 23,900-24,000. On the lower end, support is placed at 23,550."
Jathin Kaithavalappil, Assistant Vice President, Choice Broking said, "High-quality stocks with strong fundamentals should be the focus of investors this time around, particularly in banking, consumer and technology. Adding something like defence and pharmaceuticals, railways selectively should be also kept in mind for the balance. Portfolio construction can ensure balance by having a growth and defensive dimension."
Mohit Batra, Founder, MarketsMojo said, "India's slowing economic momentum poses risks to corporate earnings growth. If these economic headwinds persist, sustaining current high valuations could be challenging. Geopolitical uncertainties, including potential policy shifts in the US, may also weigh on market sentiment. Given these factors, we expect the market in 2025 to be more stock-specific, with selective sectors driving performance rather than a broad-based rally. Investors should prepare for a more challenging environment compared to the relatively straightforward gains of 2024."
Gainers & losers of 2024
Nifty gainers
Trent
Shares of Tata Group retail chain Trent Ltd zoomed 136.78% on NSE this year. Market cap of the firm stood at Rs 2.52 lakh crore.
M&M
Shares of Mahindra & Mahindra rose 77% on NSE this year. Market cap of the firm stood at Rs 3.74 lakh crore.
Bharat Electronics
Shares of Bharat Electronics (BEL) rose 58.42% on NSE this year. Market cap of the firm stood at Rs 2.14 lakh crore in the current session.
Bharti Airtel
Shares of Bharti Airtel rose 57.29% on NSE this year. Market cap of the firm stood at Rs 9.07 lakh crore in the current session.
Sun Pharma
Shares of Sun Pharma rose 50% on NSE this year. Market cap of the firm stood at Rs 4.53 lakh crore in the current session.
Nifty losers
IndusInd Bank
Shares of the lender slipped 40% on NSE this year. Market cap of the firm stood at Rs 74,831 crore in the current session.
Asian Paints
Shares of the paintmaker fell 33% on NSE this year. Market cap of the firm stood at Rs 2.19 lakh crore in the current session.
Nestle India
Shares of the FMCG firm fell 21% on NSE this year. Market cap of the firm stood at Rs 2.09 lakh crore in the current session.
Tata Consumer
The stock fell 15.29% on NSE this year. Market cap of the firm stood at Rs 90,535 crore in the current session.
Adani Enterprises
Adani Enterprises stock fell 13.27% on NSE this year. Market cap of the firm stood at Rs 2.92 lakh crore in the current session.