Stock Market Today: Nifty, Sensex End Muted After Two–Day Fall; RIL, Bharti Airtel Share Prices Drag
The Nifty 50 flat at 24,620.40, and Sensex ended 0.04% higher at 81,510.05.
(Photo source: Unsplash)
KEY HIGHLIGHTS
Economic Data Releases And Events For Dec 10
Vienna: OPEC meeting
US: Non–farm productivity — 7:00 p.m.
US: Revised Unit Labour Cost — 7:00 p.m.
Stock Market Today: US Futures Slightly Down
As of 3:32 p.m., the Dow Jones Industrial Average and S&P 500 futures declined 0.05% and 0.09%, respectively. The Nasdaq 100 future was 0.1% down.
Nifty, Sensex End Little Changed After Two–Day Fall; RIL, Bharti Airtel Top Dragger: Market Wrap
The NSE Nifty 50 and BSE Sensex ended on a muted note on Tuesday after declining for two sessions. Reliance Industries Ltd. and Bharti Airtel Ltd. share prices dragged.
The Nifty 50 ended 8.95 points or 0.04% down at 24,610.05, and the Sensex closed flat at 81,510.05.
The Nifty 50 declined as much as 0.44% to 24,510.65, and the Sensex declined 0.40% to 81,182.69.
Bharti Airtel share price declined 2.51% to Rs 1,570.05 apiece, the lowest level since Nov 29. The share price declined after its 57.43 lakh shares or 0.09% equity changed hands in two large deals. It ended 1.49% down at Rs 1,578.65.
"Post the flat opening, Index moved marginally higher before reversing to test its immediate support of 24,550. Select heavyweights in last hour of trade pushed the Index higher to settle trade at 24,610.05 with a loss of 8.95 points," said Aditya Gaggar, director, Progressive Shares.
The Realty sector extended its outperformance by advancing over 1% followed by IT and PSU Banks, whereas Media and Energy were the major laggards. Mid and Smallcaps managed to end the day in green and outshined the Benchmark Index. On the daily chart, Nifty 50 has formed a Hammer kind of pattern which suggests a strong bottom/support is being placed at 24,500-24,550 and is set to move towards the recent high of 24,850, Gaggar said.
"Today, Nifty showcased resilience by defending the 24,600 level, rallying 60-70 points in the final hour. This move reinforces confidence in the potential 25,000 target. Immediate resistance is identified at 24,750, with support at 24,600 and 24,500," said Gaurav Garg, a research analyst at Lemonn Market Desk.
Infosys Ltd., ICICI Bank Ltd., State Bank of India, HCLTech Ltd., and Shriram Finance Ltd. added to the Nifty 50 index.
Bharti Airtel Ltd., Reliance Industries Ltd., Larsen & Toubro Ltd., Axis Bank Ltd., and Tata Consultancy Services Ltd. added to the Nifty 50 index.
On NSE, seven sectors advanced, four declined, and one remained largely flat. The NSE Nifty Realty rose the most, and the NSE Nifty Media declined the most.
Broader markets outperformed benchmark indices. The BSE Midcap and Smallcap indices ended 0.30% and 0.33% higher, respectively.
On BSE, 11 sectors advanced, 10 declined out of 21. The BSE Realty rose the most, and the BSE Telecommunication declined the most.
Market breadth was skewed in favour of buyers. Around 2,024 stocks advanced, 1,941 stocks declined, and 128 stocks remained unchanged on BSE.
Rupee Ends At Record Closing Low Against US Dollar
Rupee weakened by 12 paise to close at a record closing low of 84.85. The local unit fell as much as 13 paise to 84.86 during the session. It closed at 84.73 on Monday, according to data on Bloomberg.
Market At Close
The NSE Nifty 50 and BSE Sensex ended with marginal gains after two–day fall.
The Sensex at the lowest level since Dec 4.
Infosys Ltd., ICICI Bank Ltd., and State Bank of India are the top contributors to the Nifty 50 index.
Bharti Airtel Ltd., Reliance Industries Ltd., and Larsen & Toubro Ltd. weighed on the Nifty 50 index.
The NSE Nifty Midcap 150 ended 0.28% higher at 21,809.10.
The NSE Smallcap 250 ended 0.29% higher at 18,450.60.
