December 9, 2024
New Delhi, India
Stock Market Live
Indian equity markets began the week on a cautious note, with the Sensex and Nifty trading lower on Monday after a strong performance last week. Investors remained on edge, awaiting crucial U.S. and domestic inflation data expected later in the week, which could shape future monetary policy decisions.
Market Performance
The BSE Sensex ended the session down by 200.66 points, or 0.25%, settling at 81,508.46 after fluctuating between 81,783.28 and 81,411.55 during the day. Similarly, the NSE Nifty50 closed at 24,619, marking a decline of 58.80 points, or 0.24%, with intraday highs and lows at 24,705 and 24,580.05, respectively.
Out of the Nifty50 constituents, 30 stocks ended in negative territory, led by Tata Consumer, Hindustan Unilever, Tata Motors, Asian Paints, and Nestle India, with losses of up to 4.13%. On the other hand, Wipro, Larsen & Toubro, SBI Life, BPCL, and Tata Steel recorded gains of up to 2.67%. Tata Consultancy Services (TCS) stood out as the only stock to close flat.
Sectoral and Broader Market Trends
Sectoral performance was mixed. The Nifty FMCG index bore the brunt of the selling pressure, falling by 2.22%, dragged down by stocks like Godrej Properties, Tata Consumer, and Marico. Other sectors, including Media, Auto, Banking, and Healthcare, also witnessed declines of up to 2.02%.
Conversely, indices such as Nifty Financial Services, IT, Metal, Realty, and Consumer Durables managed to post gains. Broader markets showed resilience, with the Nifty Midcap100 and Nifty Smallcap100 indices rising by 0.50% and 0.19%, respectively.
Key Drivers and Sentiment
The upcoming U.S. Consumer Price Index (CPI) data, set for release on Wednesday, remains a focal point for investors, as it will offer insights into the Federal Reserve’s rate trajectory and its potential impact on foreign capital flows to emerging markets like India. Meanwhile, India’s inflation figures, due on Thursday, are expected to influence the Reserve Bank of India’s (RBI) policy direction, particularly regarding rate cuts.
The RBI’s recent move to maintain the repo rate while reducing the Cash Reserve Ratio (CRR) has drawn attention, potentially injecting ₹1.16 lakh crore into the financial system. However, concerns over global economic trends and domestic challenges kept market participants cautious.
Outlook
With a mix of sectoral gains and losses, investor sentiment is expected to remain subdued until more clarity emerges from global and domestic economic data. The mixed performance reflects cautious trading as markets brace for significant developments in the week ahead.
Disclaimer:
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