Top Gainers and Losers on December 20, 2024: RBL Bank, GIC RE, and SpiceJet

On December 20, 2024, Indian equities faced a significant drop, marking a fifth consecutive day of losses. The benchmark index, Sensex, closed down by 1.5 percent, losing 1,176.5 points and settling at 78,041. The Nifty50 index also experienced a decline, closing 364 points lower, a decrease of 1.52 percent, ending the day at 23,587.5.

According to Prashanth Tapse, Senior VP of Research at Mehta Equities, investor nervousness has gripped the market, leading to a widespread sell-off of stocks. The ongoing strength of the dollar against the Indian rupee has encouraged foreign investors to withdraw from local equities, seeking safety in dollar-denominated assets.

There are growing concerns about the trade policies of the incoming administration under President Trump, which could further destabilize global markets. The uncertainty surrounding these changes keeps investors on edge, contributing to the bearish sentiment in the market.

Here are the notable performers in the market today:

RBL Bank

Shares of RBL Bank, a private sector lender, fell sharply, closing over 7 percent lower at Rs 152.75. This decline followed the stock's removal from the futures and options ban list.

Tech Mahindra

In the information technology sector, shares of Tech Mahindra dropped around 4 percent, ending at Rs 1,685.2. This drop occurred after the company announced that the National Company Law Tribunal (NCLT) in Mumbai had approved the merger of its wholly-owned subsidiaries.

International Gemmological Institute

The stock of the International Gemmological Institute experienced a strong debut, reflecting healthy listing gains of 22 percent on the NSE. Ultimately, it closed 13 percent higher at Rs 471.15.

GAIL

Shares of GAIL faced volatility but ended with a slight decline, closing at Rs 192.45. This was in response to the company's board approving the formation of a wholly-owned arm to serve as a finance company in the International Financial Services Centre.

SpiceJet

Aerospace carrier SpiceJet saw its stock prices fall by approximately 6 percent, bringing it down to Rs 57.84. This decline followed the announcement of an agreement with StandardAero Inc., a leading US-based engine maintenance and repair organization.

GIC RE

Conversely, GIC RE garnered attention in the market, witnessing a significant increase in trading volume. The stock notched a new 52-week high and ended the day up nearly 14 percent, closing at Rs 502.75.

Overall, the Indian equity market continues to grapple with external pressures and investor anxiety, impacting stock performances across various sectors.

Stocks, Market, Investors