December 12, 2023
New Delhi, India
Stock Market Highlights
In a day marked by fluctuating fortunes, the Indian stock market witnessed a turnaround, erasing early gains and plunging the Sensex by 400 points, with the Nifty slipping below the 21,000 mark.
Market Overview:
Sensex and Nifty: Early optimism was replaced by caution as investors awaited key data on inflation and the crucial U.S. Federal Reserve policy decision. The Nifty had surged to a new all-time high during opening hours but later succumbed to selling pressure.
Both Nifty and Sensex closed at 20,906 and 69,551 respectively
Sectoral Performance:
Gainers and Losers in Focus While sectors like Nifty Media and FMCG managed to post gains of 2% and 0.7%, respectively, the bank and realty sectors struggled, trading in the red. UltraTech Cement, Axis Bank, JSW Steel, Wipro, and TCS emerged as the top gainers, whereas Sun Pharma, Titan Company, Maruti Suzuki, NTPC, and Infosys faced losses.
Market Metrics:
Indices, Stocks, and Market Breadth At 3 pm, the Nifty dipped by 0.53%, reaching 20,885.55, while the Sensex declined by 0.59% to 69,513.80. Market breadth favored decliners, with 2,118 stocks declining against 1,645 advancing, reflecting a broader market weakness.
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Notable Movements:
Highs and Lows A notable 381 stocks reached a 52-week high, signaling positive sentiment, while 21 hit a 52-week low. Specific stock movements showcased HDFC Life, Ultratech, Bajaj Auto, SBI Life, and Dr Reddy’s Laboratories as major gainers, while Apollo Hospitals, Maruti, Eicher Motors, Sun Pharma, and Coal India faced notable losses.
Driving Factors:
Influences on the Market The market’s volatility can be attributed to a combination of company-specific news, economic indicators, and global cues. Investors are keenly observing the upcoming U.S. Federal Reserve policy decision for potential impacts on the market.
Also Read: IREDA Stock Soars, India Shelter Finance IPO Creates Buzz
Conclusion:
Mixed Sentiment Prevails In a day marked by ups and downs, the Indian stock market reflects a mixed sentiment. Global economic factors and central bank policies continue to play a pivotal role, keeping investors on their toes.
Also Read: India’s Forex Reserves Soar Beyond $600 Billion Mark, Indicating Economic Resilience
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