Stock Market Today: Nifty Ends Lower But Snaps Four-Week Fall
Stay tuned with latest on stock market. Nifty 50 ended at 24205.35, down 0.56% or 135.50 points and Sensex closed at 79389.06, down 0.69% or 553.12 points.
KEY HIGHLIGHTS
US Futures Decline On Caution Before Crucial Inflation Data
As of 3:30 p.m. IST, the Dow Jones Industrial was 048% down at 42,153.00. The S&P 500 futures fell 0.76% to 5,807.25. The Nasdaq 100 futures declined 1.03% to 20,322.75.
Economic Data Due Later Thursday
Europe: Core CPI Flash Estimate
Europe: CPI Flash Estimate
Europe: Italian Prelim CPI
Europe: Unemployment Rate
US: Core PCE Price Index
US: Employment Cost Index
US: Unemployment Claims
US: Personal Income
US: Personal Spending
US: Chicago PMI
US: Natural Gas Storage
Rupee Ends Flat Against US Dollar
The India rupee closed at 84.0837 a dollar
The currency hit an all time low of 84.1000 against the greenback intraday
On Wednesday, the Indian unit closed at 84.0863 a dollar.
Source: Bloomberg
Nifty Ends Lower But Snap Four-Week Fall: Closing Bell
Benchmark equity indices of India recorded a second session of fall but Nifty snapped its four four-week losing streak and Sensex ended the week flat ahead of special session on Diwali day. On Thursday, they were dragged by shares of IT and financial services companies.
The stock market will remain open on Friday from 6:00 to 7:00 p.m. in a special Diwali Muhurat trading session held every year.
Nifty 50 ended at 24205.35, down 0.56% or 135.50 points and Sensex closed at 79389.06, down 0.69% or 553.12 points. Intraday, Nifty fell as much as 0.7% and Sensex fell as much as 0.8%
However, smallcap indices outperformed the benchmarks and continued to rise for a fourth consecutive session. Nifty Smallcap 100 closed 1.15% higher at 18602.60 while Nifty Smallcap 250 rose 1.5% to close at 17751.20. On a weekly basis both these indices have gained more than 4%.
Aditya Agarwal, head of derivatives & technical analysis at Sanctum Wealth said, "From a medium to long-term perspective, we remain optimistic on Indian markets and expect indices to give returns in mid double digits over 12 months period."
"However, from a short-term perspective, markets will be volatile and can see 4-5% correction," he added. "We prefer large-cap stocks over mid and small-cap and expect heavyweight to outperform over next 12 months."
Infosys Ltd., ICICI Bank Ltd., Tata Consultancy Services Ltd., HCL Tech Ltd., and Tech Mahindra Ltd. dragged the Nifty while those of Larsen & Toubro Ltd., Cipla Ltd., Mahindra & Mahindra Ltd., Oil & Natural Gas Corp., and Grasim Industries cushioned the fall.
Most sectoral indices fell. Nifty IT was top loser and Nifty Pharma rose the most.
Broader markets ended on a mixed note. The BSE Midcap ended 0.34% down, and Smallcap index ended 1.62% higher.
On BSE, 12 sectors declined, seven advanced out of 21. The BSE Focused IT index ended with the most gain, and BSE Industrial rose the most.
Market breadth was skewed in favour of buyers. Around 2,675 stocks advanced, 1,243 stocks declined, and 108 stocks remained unchanged on BSE.
Weekly Performance
On a weekly basis, Nifty snapped four-week fall and ended 0.1% up and Sensex closed flat. This week, Nifty PSU Bank rose the most and Nifty IT was top loser.
Markets At Close
Nifty and Sensex fell for a second consecutive session but snapped four-week losing streak.
Nifty 50 ended at 24237.00, down 0.4% or 103.85 points
Sensex closed at 79389.06, lower by 0.69% or 553.12 points
Intraday, Nifty fell as much as 0.7% and Sensex fell as much as 0.8%
Among broader indices, Nifty Smallcap 250 outperformed and closed 1.5% higher but Nifty Midcap 100 ended 0.4% down
Most sectoral indices fell. Nifty IT was top loser and Nifty Pharma rose the most.
Cipla and L&T were top Nifty gainers
Tech Mahindra and HCL Tech fell the most
