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Indian benchmarks blazed to record highs in the first few months of 2024 but slowing corporate earnings and an exodus of foreign funds curtailed their annual gains to about 8.5%, the least among major global peers, and even pushed stocks into correction territory.

The Nifty Pharma index closed 0.74 per cent at 23412.25.

Anthem Biosciences, a CRDMO, has filed for a Rs 3,395 crore IPO. The offer comprises an OFS by promoters and investors, including True North.

Nifty formed a small positive candle on the daily chart, indicating a bullish counterattack after a false downside breakout. Technicals suggest a range-bound movement between 23,500-24,000, with potential upside toward 24,000, supported by open interest trends.

The stock traded at a P/E multiple of 15.24, while the price-to-book value ratio stood at 3.29.

Nishant Pitti, co-founder of EaseMyTrip, sold 1.41% stake (5 crore shares) via block deal on December 31. The stock price declined 6.98% on the day.

The Indian rupee declined to a record closing low for the sixth consecutive session on Tuesday, weighed down by a decline in most Asian currencies alongside expectations that it is headed for more losses in 2025.

European stocks were muted in the final trading session of 2024, as uncertainty around the monetary policy path and political shifts halted a rally that had pushed several markets to record highs earlier this year.

Standard Glass Lining Technology IPO will raise funds for capital expenditure, repayment of borrowings, and investment in its subsidiary, S2 Engineering. The company specializes in manufacturing specialized engineering equipment for the pharmaceutical and chemical industries. The offer will be made through the book-building process, with allocations for qualified institutional buyers, non-institutional investors, and retail individual bidders.