December 18, 2023
New Delhi, India
Stock Market Highlights:
In a shift from the recent winning trend, the Indian stock market closed in the red, with the Sensex down 168.66 points (0.24%) at 71,315.09, and the Nifty down 38.00 points (0.18%) at 21,418.70. While the benchmark indices faced a downturn, broader indices outperformed, with the BSE Midcap index rising 0.3% and the smallcap index gaining 0.5%. Market breadth favoured advances, with 1886 shares advancing, 1478 declining, and 124 remaining unchanged.
Both sensex and nifty closed at 71,315.09 down−168.66
Sectoral Performance:
The pharma and capital goods sectors showed resilience, recording a 1% gain in the pharma index and a 0.7% rise in the capital goods index. However, the realty index experienced a 1% decline, and the bank index was down by 0.5%.
Top Gainers and Losers:
Bajaj Auto, Adani Ports, Sun Pharma, Hindalco Industries, and Reliance Industries emerged as top gainers on the Nifty. On the flip side, Power Grid Corporation, JSW Steel, ICICI Bank, ITC, and Tech Mahindra were among the top losers.
Also Read: Government Reverses Ban, Sparks Surge in Sugar Stocks on Ethanol Production Boost
Global Market Influence:
The cautious sentiment in the Indian market was influenced by global factors, including the Nikkei’s lower close in Japan. However, US contracts edged higher after a slight dip in the S&P 500.
Currency and Global Market Trends:
The Indian rupee ended marginally lower at 83.06 per dollar. The dollar showed mixed performance against major peers, and Treasury yields extended gains following comments from the New York Fed President.
Also Read: Indian Rupee Strengthens as USD Faces Headwinds: Key Factors Unveiled
Stock-Specific Movements:
IRCTC recorded a significant single-day gain, rising up to 13%. Siemens surged after announcing exploration into energy business demerger. Sugar stocks snapped a losing streak, gaining 2-10%. 2-wheeler companies, especially Bajaj Auto, continued to see buying, with the stock up 3%.
Conclusion
The day’s market performance reflects a mix of domestic and global influences, with the pharma sector standing out as a notable gainer and realty facing a setback. Investors remain cautious amid global market dynamics.
Also Read: Sovereign Gold Bond Series III 2023-24 Opens Today: Key Details
Disclaimer:
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