Stock Market Today: Nifty, Sensex Close At Three-Week Lows As IT, Bank Stock Weigh Most
Share prices of ICICI Bank Ltd., Reliance Industries Ltd., HDFC Bank Ltd., Infosys Ltd., and Tata Consultancy Services Ltd. dragged the Nifty the most.
KEY HIGHLIGHTS
US Futures Rise
As of 3:31 p.m., the Dow Jones Industrial Average and S&P 500 futures rose 0.39% and 0.43%, respectively. The Nasdaq 100 futures was 0.33% higher.
Events, Economic Data Later Thursday
UK: Monetary Policy Summary
UK: MPC Official Bank Rate Votes
UK: Official Bank Rate
UK: BOE Quarterly Bulletin
US: Final GDP
US: Unemployment Claims
US: Final GDP Price Index QoQ
US: Philly Fed Manufacturing Index
US: Existing Home Sales
US: CB Leading Index MoM
US: Natural Gas Storage
Nifty, Sensex Close At Three-Week Lows As IT, Bank Stock Weigh Most: Closing Bell
Benchmark equity indices of India ended lower for a fourth consecutive session and recorded their lowest closing since November 28 as they tracked global negative sentiment following hawkish commentary by the US Federal Reserve after it cut benchmark interest rate by 25 bps in its December meet.
The sentiment was dampened as FOMC indicated just two quarter-point cuts next year and upward revision of US inflation projection for the end of 2025. Investors will now be looking at the country's GDP along with unemployment claims to be released later Thursday. UK's monetary policy summary will also be watched.
Nifty ended 1.02% or 247.15 points down at 23951.70 and Sensex closed 1.2% or 964.15 points lower at 79218.05. Intraday, both of them had declined 1.4% each.
"Around its 200DMA support, the Index has formed a probable double bottom formation (not yet confirmed)," said Aditya Gaggar, director of Progressive Shares. "A strong move above 24,200 is necessary to validate the reversal whereas a break below 23,900 will drag the Index further lower to 23,760."
Share prices of ICICI Bank Ltd., Reliance Industries Ltd., HDFC Bank Ltd., Infosys Ltd., and Tata Consultancy Services Ltd. dragged the Nifty the most.
While those of Dr Reddy's Laboratories, Sun Pharmaceutical Industries Ltd., Cipla Ltd., Bharat Petroleum Corp. Ltd., and Apollo Hospitals Enterprises Ltd capped the fall.
Except Nifty Pharma, which rose nearly 2%, all sectoral indices fell.
Broader markets outperformed benchmark indices. The BSE Midcap and Smallcap indices ended 0.30% and 0.28% down, respectively.
On BSE, 20 sectors declined and one advanced out of 21. The BSE Focused IT declined the most and the BSE Healthcare rose the most.
Market breadth was skewed in favour of sellers. Around 2,299 stocks declined, 1,693 stocks advanced, and 103 stocks remained unchanged on BSE.
Rupee Ends At Record Closing Low Against US Dollar
-Rupee closed 13 paise lower at 85.08 against the US dollar.
-It touched a record low of 85.09 a dollar
-It closed at 84.95 on Wednesday.
Source: Cogencis
Markets At Close
Nifty and Sensex fell for a fourth consecutive session to close at lowest since November 28
Intraday, both Nifty and Sensex had declined 1.4% each
Nifty ends 1.02% or 247.15 points down at 23951.70
Sensex ends 1.2% or 964.15 points lower at 79218.05
Broader indices outperformed. Nifty Midcap 100 ended 0.3% down; Nifty Smallcap 250 closed 0.3% lower
Except Nifty Pharma, which rose nearly 2%, all sectoral indices fell
Dr Reddy's Labs and Cipla were top Nifty gainers
Bajaj Finserv and Asian Paints fell the most
