Market Update: Nifty and Bank Nifty Analysis Date 17.12.2024
Ankush Bajaj 
The Indian stock market witnessed a sharp decline on December 17th, with both key indices closing in deep red.
Market Update: Nifty and Bank Nifty Analysis
Date 17.12.2024
The Indian stock market witnessed a sharp decline on December 17th, with both key indices closing
in deep red:
- Nifty 50 closed 1.35% lower, down by 332 points.
- Bank Nifty fell 1.39%, tracking broader market weakness.
Sectoral pressure was led by Telecom and Metal sectors, which pulled the markets down, while
Banking stocks declined sharply by 1.35%.
At close:
- Sensex was down 1,064 points.
- Nifty 50 dropped to 24,336.
Top Losers on Nifty:
1. Shriram Finance -5.12%
2. Grasim Industries -3.18%
3. Bharti Airtel -2.84%
4. Hero MotoCorp -2.73%
5. JSW Steel -2.37%
Top Gainers on Nifty:
- ITC (Flat)
- Cipla (Flat)
- Wipro (Flat)
Market Outlook:
Heavyweights like Reliance remained under selling pressure, signaling the possibility of further
downside. A key level to watch on the downside is 24,010, and the market also witnessed a negative
crossover of the 21 EMA and 50 EMA. Upside resistance is expected around 24,650-
24,750.
Caution is advised as bearish signals dominate the market in the short term.
Ankush Bajaj
SEBI Registered Research Analyst
Registration No. INH000010441
“Investment in securities market are subject to market risks. Read all the related documents carefully
before investing.”
“Registration granted by SEBI and certification from NISM in no way guarantee performance of the
intermediary or provide any assurance of returns to investors”
