Stock Market Today: Nifty, Sensex End Lower After Two Day's Of Muted Sessions; RIL, L&T Decline
The Nifty 50 and Sensex ended at the lowest level in over a week on Thursday.
KEY HIGHLIGHTS
Economic Data Releases And Events For Dec 12
Europe: Monetary Policy Statement — 6:45 p.m.
US: PPI & Core PPI — 7:00 P.M.
US: Weekly Unemployment Claims — 7:00 p.m.
Europe: European Central Bank Press Conference — 7:15 p.m.
UK: Consumer Board Leading Index — 8:00 p.m.
US: Energy Information Administration Natural Gas Storage Report — 9:00 p.m.
Most US Futures Rise Before US PPI Data
The S&P 500 and Nasdaq 100 futures rose 0.82% and 1.77% higher, respectively. The Dow Jones Industrial Average future declined 0.22%.
Nifty, Sensex Settle At Over One–Week Low; RIL, L&T Share Prices Drag: Market Wrap
The NSE Nifty 50 and BSE Sensex ended at the lowest level in over a week as Reliance Industries Ltd., Larsen & Toubro Ltd. and Hindustan Unilever Ltd. dragged.
The Nifty 50 ended 93.10 points or 0.38% down at 24,548.70. The Sensex ended 236.18 points or 0.29% down at 81,289.96. In last two session, the Nifty 50 and Sensex ended on a muted note due to lack of significant cues.
The Nifty 50 declined as much as 0.46% to 24,528.00, and the Sensex fell 0.37% to 81,212.90.
HDFC Bank Ltd. share price declined 0.77% to Rs 1,848.70 apiece. It fell after Securities and Exchange Board of India issued a warning letter. The warning letter alleged non–compliance with certain provisions of the regulator.
"The Index started the weekly expiry trade on a tepid note and gradually compounded its losses to retest its strong support zone of 24,500-24,550 before settling the day at 24,548.70 with a loss of 93.10 points," said Aditya Gaggar, director, Progressive Shares.
Barring IT and Metal, all the other sectors ended the day in red with Media and FMCG being the major laggards. Today's fall was triggered due to profit booking in the Broader market segment as Mid and Smallcaps corrected by 0.46% & 0.97%. Nifty50 has made a bearish candle at the lower end of consolidation and the activity of tomorrow's trade will provide better clarity. On the downside, immediate support is at 24,500 followed by 24,430, 50–day moving average whereas the higher side seems to be capped at 24,690, Gaggar said.
Reliance Industries Ltd., Larsen & Toubro Ltd., Hindustan Unilever Ltd., NTPC Ltd., and ITC Ltd. weighed on the index.
Bharti Airtel Ltd., Infosys Ltd., Tata Consultancy Services Ltd., Tech Mahindra Ltd., and ICICI Bank Ltd. added to the Nifty 50 index.
On NSE, 10 sectors declined, and two advanced. The NSE Nifty Media declined the most. The NSE Nifty IT was the best performing sector. Earlier in the session, the Nifty IT rose to the record high.
Broader indices underperformed. BSE Midcap closed 0.6% down and BSE Smallcap fell 1%.
Except BSE IT, Utilitiles, and Teck, all sectoral indices closed lower.
Market breadth was skewed in the favour of sellers. Around 2,508 stocks fell, 1,491 rose, and 106 remained unchanged on the BSE.
Rupee Closes Weaker Against US Dollar
Rupee closed 3 paise lower at 84.87 against the US dollar. It closed at 84.84 on Wednesday, according to data Bloomberg.
Market At Close
The NSE Nifty 50 and BSE Sensex closed lower on Thursday after two days of muted session.
The benchmark indices ended at the lowest level since Dec 4,.
Bharti Airtel Ltd. Infosys Ltd., and Tata Consultancy Services Ltd. added to the NSE Nifty 50 index.
Reliance Industries Ltd. Larsen & Toubro Ltd., and Hindustan Unilever Ltd. weighed on the NSE Nifty 50 index.
The NSE Nifty Midcap 150 ended 0.50% down at 21,770.05.
The NSE Nifty Smallcap 250 ended 0.93% down at 18,330.30.
