Mumbai,dec 24
The domestic stock markets ended in red territory after a volatile session on Tuesday, failing to hold the opening gains.At the close of the session, Nifty 50 ended at 23,727.65, declining 25.80 points, or 0.11 per cent, while Sensex closed at 78,472.87, down 67.30 points, or 0.09 per cent.
The major players who gained in today’s session at the National Stock Exchange (NSE) were Tata Motors, Adani Enterprises, Eicher Motors, BPCL, and ITC. The major losers were Power Grid Corp, JSW Steel, SBI Life Insurance, IndusInd Bank, and Grasim Industries in the trading session.
The stock market on Tuesday’s session saw enhanced buying in auto, FMCG, oil and gas, pharma, and realty, while the selling was witnessed in IT, media, metal, and PSU Bank. Other sectors saw losses, with declines up to 0.83 per cent.
The BSE midcap index ended on a flat note, while the smallcap index was up 0.3 per cent. Of the 50 Nifty50 constituents, 28 stocks ended lower, with significant declines in Power Grid Corporation, JSW Steel, SBI Life, Titan, and Infosys, down by up to 1.68 per cent.
Among the broader markets, Nifty Smallcap 100 gained 0.24 percent, while Nifty Midcap 100 declined 0.06 percent.The Indian stock markets are under pressure primarily due to two main reasons: the strong dollar and high bond yields in the US, which are prompting FIIs to sell during rallies. A near-term rally does not seem likely. As the year draws to a close, investors are advised to prioritize safety over returns in the current context.”The domestic market concluded flat ahead of the holiday, with metal and power stocks dragging performance while FMCG and auto sectors gained from recent corrections. The near-term market trajectory hinges on the outcome of Q3 results and the Union budget, but caution prevails due to a strong dollar, high bond yields, and concerns over rate cuts.
