Stock Market Today: Nifty, Sensex Fall For Second Session As RIL, FMCG Stocks Drag
Intraday, both Nifty and Sensex had fallen 0.4% each. Nifty ended 0.24% or 58.80 points down at 24619 and Sensex closed 0.25% or 200.66 points lower at 81508.46.
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KEY HIGHLIGHTS
US Futures Slightly Down
As of 3:26 p.m., futures of Dow Jones Industrial Average and S&P 500 futures declined 0.03% and 0.07%, respectively and those of Nasdaq 100 was 0.11% down.
Economic Data, Events Later Monday
UK: MPC Member Ramsden Speaks
US: Final Wholesale Inventories month-on-month
Nifty, Sensex Fall For Second Session As RIL, FMCG Stocks Drag: Closing Bell
Benchmark equity indices ended the first session of the week on a subdued note as heavyweight Reliance along with FMCG stocks dragged them the most.
Sentiment in FMCG stocks was impacted after Godrej Consumer Products Ltd. flagged the continued slowdown in demand. The sector contributed 39 points to Nifty's decline.
Intraday, both Nifty and Sensex had fallen 0.4% each. Nifty ended 0.24% or 58.80 points down at 24619 and Sensex closed 0.25% or 200.66 points lower at 81508.46.
Investors tracked various global events including comments from China's Politburo, country's change in monetary policy stance, political scenario in South Korea, and geopolitical tensions in the middle east over the weekend.
"With a Gravestone DOJI candlestick pattern, the Index has witnessed a much-needed pullback," said Aditya Gaggar, director of Progressive Shares. "The undertone of the market is bullish and the rally towards 25,400 will continue with the downside being protected at 24,540 while the immediate hurdle is placed at 24,850."
Shares of Reliance Industries Ltd., Hindustan Unilever Ltd., ITC Ltd., Axis Bank Ltd., and ICICI Bank Ltd. weighed on Nifty the most. While those of Larsen & Toubro Ltd., HDFC Bank Ltd., Bharti Airtel Ltd., Infosys Ltd., and Kotak Mahindra Bank Ltd. minimised the fall.
Most sectoral indices declined with Nifty FMCG falling the most.
Market breadth was skewed in favour of buyers. Around 2,304 stocks advanced, 1,771 stocks declined, and 165 stocks remained unchanged on BSE.
Broader markets advanced. The BSE Midcap and Smallcap indices ended 0.32% and 0.46% higher, respectively.
On BSE, 14 sectors advanced, seven declined out of 21. The BSE Industrials advanced the most, and the BSE FMCG declined the most.
Markets At Close
Nifty and Sensex end lower for second session
Intraday, both Nifty and Sensex had fallen 0.4% each
Nifty ends 0.24% or 58.80 points down at 24619
Sensex ends 0.25% or 200.66 points lower at 81508.46
Broader indices outperformed. Nifty Midcap 100 ended 0.5% up; Nifty Smallcap 250 closed 0.4% higher
Most sectoral indices fell with Nifty FMCG falling the most
Wipro and L&T were top Nifty gainers
Tata Consumer and HUL fell the most
Rupee Ends Weaker Against US Dollar
Rupee weakened by 3 paise to close at 84.73 against the US Dollar.
It closed at 84.70 on Friday.
Source: Bloomberg
