Stock Market Today: Nifty, Sensex End Choppy Session With Marginal Losses As L&T, M&M Drag
The NSE Nifty 50 and BSE Sensex snapped its two–session rally on Tuesday
Image is for representation. (Photo source: Unsplash)
KEY HIGHLIGHTS
Economic Data Releases And Events For Nov 26 & 27
UK: CBI Realized Sales — 4:30 p.m.
US: HPI — 7:30 p.m.
US: The Confenrence Board Consumer Confidence — 8:30 p.m.
US: New Home Sales — 8:30 p.m.
UK: Bank of England Chief Economist Huw Pill will give testimony before Economic Affairs Committee — 8:30 p.m.
US: Federal Open Market Committee meeting minutes — 12:30 a.m.
Australia: CPI — 6:00 a.m.
New Zealand: Reserve Bank of New Zealand Policy Meet Outcome — 6:30 a.m.
New Zealand: RBNZ Press Conference — 7:30 a.m.
Germany: GfK Consumer Climate — 12:30 p.m.
US Futures Trade Flat
At 3:29 p.m., futures contract of Dow Jones, S&P 500, and Nasdaq 100 traded flat.
Nifty, Sensex Snap Two–Day Rally On Negative Global Cues; L&T, M&M Top Losers: Market Wrap
The NSE Nifty 50 and BSE Sensex failed to keep up the recovery in a choppy session on Tuesday. The benchmark reversed a two–session rally as Mahindra & Mahindra and Larsen & Toubro Ltd. share prices dragged.
The Nifty 50 ended 27.40 points or 0.11% down at 24,194.50, and the Sensex ended 105.79 points or 0.13% down at 80,004.06.
Earlier in the session, the Nifty 50 rose as much as 0.50% to 24,125.40. The Sensex rose 0.46% to 79,798.67.
Losses in Asia–Pacific share indices due to anticipated higher tariff on China also pressured the Indian benchmarks. President–elect Donald Trump said that US will impose additional 10% tariff on imported goods form China, Bloomberg reported.
European share indices were trading in red as market market participants mull implication of the tariff from the US.
The NSE Nifty IT index scaled a fresh high for second day in a row. It ended 0.96% higher to become the top performing sector.
"The Nifty50 has formed a Bearish Marubozu candlestick pattern which indicates a temporary pause in the positive momentum. It is too premature to say but if the Index corrects then that will be considered as a right shoulder of a potential Inverted Head and Shoulder formation. The immediate support and resistance will continue to be the same i.e. 23,950 (bullish gap) and 24,350," said Aditya Gaggar, director, Progressive Shares.
Larsen & Toubro Ltd., Mahindra & Mahindra Ltd., Sun Pharmaceutical Industries Ltd., UltraTech Cement Ltd., and Axis Bank Ltd. weighed on the benchmark Nifty 50 index.
Infosys Ltd., Reliance Industries Ltd., Tata Consultancy Services Ltd., ICICI Bank Ltd., and Shriram Finance Ltd. added to the Nifty 50 index.
On NSE, six sectors ended higher, five lower, and one ended flat out of 12. The NSE Nifty Auto declined the most, and the NSE Nifty IT rose the most.
Broader indices outperformed. BSE Midcap ended 0.1% higher and BSE Smallcap closed 0.6% up.
Twelve of the 21 sectoral indices on the BSE declined while nine closed lower. BSE Utilities fell the most.
Market breadth was skewed in the favour of buyers. Around 2,288 shares rose, 1,634 fell, and 109 remained unchanged on the BSE.
Rupee Weakens Against US Dollar
The rupee weakened by 6 paise to close at 84.34 against US Dollar. It closed at 84.28 on Monday, according to data on Bloomberg.
Market At Close
The NSE Nifty 50 and BSE Sensex snapped its two–session rally on Tuesday
Both the Nifty 50 and Sensex ended 0.12% lower.
The NSE Nifty IT index scaled a fresh high for second day in a row. It ended 0.96% higher to become the top performing sector.
The NSE Nifty Auto index ended 1.07% down to become the worst performing sector.
The NSE Nifty Midcap 150 ended 0.05% higher at 20,736.80.
The NSE Nifty Smallcap 250 ended 0.65% higher at 17,382.30.
