As of Sunday, December 22, 2024, here is an overview of the recent developments in the Indian share market:
Market Performance
-Weekly Decline: Both the Nifty 50 and BSE Sensex indices experienced their first weekly decline in five weeks, each losing over 3%.
- Foreign Fund Outflows: This downturn was influenced by foreign fund outflows amounting to ₹122.31 billion ($1.44 billion) during the week, despite overall net buying in December.
Market Movements:
Bitcoin (BTC): Recent fluctuations have been observed, with BTC trading below 97,000 USDT, showing a 0.65% increase over 24 hours.
BINANCE
Binance Coin (BNB):
BNB has experienced a 1.45% decrease over 24 hours, trading below 660 USDT.
Notable Movements
- IndusInd Bank: Shares of IndusInd Bank Ltd. fell by 3.53% to ₹930.00, underperforming the broader market. The stock remains significantly below its 52-week high of ₹1,694.35, reached on January 15.
- Amara Raja Batteries: The company's shares rose by 5% following Hyundai Motor India's decision to utilize Amara Raja's battery technology.
Regulatory Developments
- Algorithmic Trading: The Securities and Exchange Board of India (SEBI) has proposed extending algorithmic trading to retail investors. Draft guidelines suggest that algorithms be registered with stock exchanges and categorized as either transparent "white box" or opaque "black box," with specific rules for each. Exchanges would maintain a kill switch to prevent market manipulation. Public comments on the guidelines are open until January 3.
IPO Activity
- 2024 Overview: India led globally in the number of IPOs, with 327 listings raising $19.9 billion, a significant increase from $6.6 billion the previous year. Notable IPOs included Hyundai Motor India and Vodafone Idea.
- 2025 Outlook: The Asia Pacific region anticipates increased IPO activity in 2025, with India and Australia expected to contribute significantly, countering the sluggish performance of Chinese IPOs. India's National Stock Exchange in Mumbai surpassed U.S. exchanges in IPO revenue, capturing 16.8% of the global market share.
Economic Outlook
- 2025 Projections: Analysts forecast moderate growth for Indian stock markets in 2025. A Reuters poll predicts the benchmark Sensex index to rise by 9% from current levels by the end of 2025, indicating slower growth compared to recent years. Concerns include slowing consumer demand, reduced corporate earnings, and a record influx of new shares entering the market.
Investors are advised to monitor these developments closely, as market conditions can change rapidly.
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