December 11, 2024
New Delhi, India
Stock Market Today
Indian equity markets concluded a rangebound session on a cautious note as investors awaited key U.S. and domestic inflation data. The BSE Sensex ended marginally higher at 81,526.14, gaining 16.09 points (0.02%), while the NSE Nifty50 advanced by 31.75 points (0.13%) to close at 24,641.80.
Market Highlights:
- Top Gainers: Trent (2.50%), Bajaj Finance (2.35%), Britannia Industries (2.10%), Shriram Finance (1.90%), and Hero MotoCorp (1.39%).
- Top Losers: JSW Steel (-1.48%), Adani Ports (-1.35%), NTPC (-0.88%), State Bank of India (-0.66%), and Axis Bank (-0.58%).
Sectorally, the Nifty Auto, FMCG, and IT indices recorded gains, while the PSU Bank index declined nearly 1%, dragging market sentiment. Broader indices fared better, with the Nifty Midcap100 and Smallcap100 indices rising by 0.27% and 0.38%, respectively..
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Investors remained cautious ahead of the U.S. Consumer Price Index (CPI) inflation report due later today and India’s inflation data set to be released on Thursday. These reports are anticipated to provide crucial insights into the Federal Reserve’s and RBI’s future interest rate policies.
Global Markets:
Global cues were mixed as Wall Street indices declined overnight. The S&P 500 and Nasdaq fell by 0.3% each, while the Dow Jones shed over 150 points. Asian markets exhibited fluctuations during early trade, reflecting the cautious sentiment.
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Outlook:
S&P Global Ratings has forecasted resilient growth for India’s economy in 2025, with inflationary pressures expected to ease. This could pave the way for a modest easing of monetary policy by the RBI. As markets await further clarity from inflation data, the focus remains on how central banks will navigate rate adjustments to balance growth and inflation dynamics.
Disclaimer:
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