Nifty 500 index year-end review: Top wealth creators and destroyers of 2024

Year-ender 2024: The Indian stock market showcased a mix of gains and declines in the calendar year 2024. The market was shaped by factors such as India Inc's performance, industry trends, and broader economic conditions. Adding to the complexity were global challenges such as the Russia-Ukraine conflict and unrest in West Asia, which left their mark on market movements.

 

Despite these hurdles, the Nifty 500 index delivered an impressive year-to-date (YTD) gain of 15.3 per cent, according to Bloomberg data. In contrast, the Nifty50 benchmark underperformed, recording a more modest rise of 9.2 per cent. 

 

Among the standout performers, GE Vernova T&D India surged a staggering 318.2 percent, closing at Rs 2,104.9 on December 24. KFin Technologies also made a giant leap, climbing 206 per cent to Rs 1,477, driven by its expanding role in financial services.

 

 

Motilal Oswal Financial Services posted a 196.2 per cent gain, with its stock price reaching Rs 919, supported by strong market activity. Oracle Financial Services Software saw a 192 per cent rise to Rs 12,299.5, reflecting its growth in tech-driven financial solutions. Rounding off the top performers is Anant Raj, whose focus on real estate and infrastructure led to a 178.2 per cent increase, with shares now at Rs 821.1.

 

But not all journeys charted upward trajectories. The other side of the spectrum reveals a series of sobering declines. 

 

Zee Entertainment, despite its legacy in media, saw a 54.1 per cent erosion, slipping to Rs 126.1. The beleaguered Vodafone Idea (Vi), grappling with operational and financial struggles, fell 53.4 per cent, languishing at Rs 7.5. 

 

Even the stalwart microfinance institution CreditAccess Grameen could not escape the slide, with its value shrinking 48.2 per cent to Rs 826.6. Honasa Consumer, the name behind popular consumer brands, tumbled 42.3 per cent to Rs 254.6, while RBL Bank, caught in the throes of volatility, saw a 41.5 per cent drop to Rs 163.3. 

Nifty 500 index gainers/losers