Stock Market Today: Sensex Ends Over 400 Points Lower, Nifty Settles At 24,647.80; Infosys Top Dragger
The Nifty 50 and Sensex ended 0.40% and 0.47% down, respectively. Information technology stocks weighed on the benchmarks.
KEY HIGHLIGHTS
US Futures Higher
At 3:30 p.m., futures contract of Dow Jones rose 0.1%, that of S&P 500 rose 0.2%, and Nasdaq 100 rose 0.3%.
Economic Data Releases And Events For Dec 16
US: Empire State Manufacturing Index — 7:00 p.m.
US: Flash Manufacturing PMI — 8:15 p.m.
US: Flash Services PMI — 8:15 p.m.
Sensex, Nifty Erase Nearly Half Of Friday's Rally As Metals, Tech Shares Tumble: Market Wrap
The NSE Nifty 50 and BSE Sensex ended lower on Monday as information technology and metal stocks weighed. Infosys Ltd. and HDFC Bank Ltd. share prices were top dragger. Moreover, losses all across Asia–Pacific after mixed data from China also weighed.
The Nifty 50 ended 120.50 points or 0.49% down at 24,647.80, and the Sensex settled 384.55 points or 0.47% down at 81,748.57.
During the session, the Nifty 50 fell 0.67% to 24,601.75, and the Sensex declined 0.71% to 81,551.28.
The India NSE Volatility index jumped 11.13% to 14.51, the highest level since Dec 13.
Bharti Airtel Ltd. declined as much 1.28% to Rs 1,660.15 apiece after the Karnataka Department of Telecommunications imposed a penalty on the telecom firm.
"Indian equities commenced the week on a subdued note and correction in the select heavyweights dragged the Index lower; however, some recovery was observed from the lower levels which helped the Index to settle the trade at 24,668.25 with a loss of 100.05 points," said Aditya Gaggar, director, Progressive Shares.
Among the sectors, Realty was the top gainer by advancing over 3% followed by Media whereas Metal was the major underperformer while the IT sector witnessed a round of profit booking after a stellar rally. The interest of market participants remained in the Broader markets as Mid and Smallcaps soared over 0.60% and outperformed the Benchmark Index. The trading range of the Index is widened to 300 points i.e. 24,500-24,800 and for a directional trend breakout on either sides is necessary, Gaggar said.
Infosys Ltd., HDFC Bank Ltd., Tata Consultancy Services Ltd., Bharti Airtel Ltd., and Titan Co. Ltd. weighed.
Dr. Reddy's Laboratories Ltd., Axis Bank Ltd., IndusInd Bank Ltd., Bajaj Finance Ltd., and Power Grid Corp of India limited losses to the Nifty 50 index.
On NSE, five sectors advanced, six declined, and one remained flat out of 12. The NSE Nifty Metal declined the most, and the NSE Nifty Realty rose the most.
Broader indices outperformed. BSE Midcap ended 0.7% higher and BSE Smallcap rose 0.5%.
Thirteen of 21 sectoral indices on the BSE ended lower and eight rose. BSE Realty rose the most.
Market breadth was skewed in the favour of buyers. As many as 2,338 stocks rose, 1,802 fell, and 100 remained unchanged on the BSE.
Rupee Ends Weaker Against US Dollar
Rupee weakened by 8 paise to close at 84.87 against the US Dollar. It closed at 84.79 on Friday, according to data on Bloomberg.
Market At Close
The NSE Nifty 50 and BSE Sensex ended lower on Monday.
The NSE Nifty Metal declined the most. It ended 0.97% down at 9,347.75
The NSE Nifty Realty was the best performing sector. It ended 3.10% higher at 1,18.65.
The NSE Nifty Midcap 150 ended 0.69% higher at 21,898.80.
The NSE Nifty Smallcap 250 ended 0.44% higher at 18,344.00
