Stock Market Updates: Sensex Falls 300 Points, Nifty Below 24,800
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Stock Market Updates: Benchmark indices were trading lower in the pre-opening session.
Stock Market Updates Today: Check Sensex, Nifty Latest Movements On December 16
Stock Market Updates: The Indian equity market opened on a subdued note on December 16, with benchmark indices trading in negative territory during the pre-opening session.
Benchmark indices declined in early trade in line with weak global cues and caution ahead of the WPI inflation data to be announced later in the day.
The 30-share BSE benchmark Sensex declined 215.59 points to 81,917.53 in early trade. The NSE Nifty dipped 49.45 points to 24,718.85.
From the 30-share Sensex blue-chip pack, JSW Steel, Titan, Bharti Airtel, Nestle, Mahindra & Mahindra, Tata Consultancy Services, NTPC and Sun Pharma were the biggest laggards.
ITC, Reliance Industries, UltraTech Cement, Bajaj Finance, IndusInd Bank and Asian Paints were the gainers.
In Asian markets, Seoul, Tokyo and Hong Kong were trading lower while Shanghai quoted in the green.
Wall Street ended mostly lower on Friday.
Foreign Institutional Investors (FIIs) bought equities worth Rs 2,335.32 crore on Friday, according to exchange data.
Global oil benchmark Brent crude dipped 0.31 per cent to USD 74.26 a barrel.
Investors are likely awaiting key market cues and global trends for further direction.
The rupee fell 3 paise to 84.83 against the US dollar in early trade on Monday, dragged down by a muted trend in domestic equities and elevated crude oil prices.
Forex traders said the rupee remains in a weakening mode due to dollar demand from importers and foreign banks.
At the interbank foreign exchange, the rupee opened at 84.83 against the greenback, registering a fall of 3 paise over its previous close.
Meanwhile, in today’s session, stocks such as Bharat Forge, Biocon, JK Paper, JSW Energy, Lupin, and others are likely to remain in focus due to recent developments.
Sensex and Nifty bounced back strongly on Friday, advancing nearly 1% as investors engaged in bargain hunting across sectors like telecom, technology, and consumer durables, supported by encouraging domestic inflation data.
After plunging 1,207.14 points in early trade, the BSE Sensex reversed its losses to close 843.16 points higher, or 1.04%, at 82,133.12. During intraday trade, it surged by as much as 923.96 points to touch 82,213.92.
Similarly, the NSE Nifty rose 219.60 points, or 0.89%, to end at 24,768.30, recovering from an intraday dip of 367.9 points.
Weekly Performance
On a weekly basis, the Sensex gained 623.07 points, or 0.76%, while the Nifty advanced 90.5 points, or 0.36%.
Sectoral Performance and Top Movers
Among the Sensex constituents, Bharti Airtel, ITC, Kotak Mahindra Bank, Hindustan Unilever, Titan, UltraTech Cement, HCL Technologies, and Power Grid led the gains. In contrast, Tata Steel, IndusInd Bank, JSW Steel, and Bajaj Finserv were among the top laggards.
Broader Market Trends
Contrary to the gains in benchmark indices, the BSE SmallCap index fell by 0.29%, while the MidCap index dipped 0.08%, reflecting mixed sentiment in the broader market.
