Indian Stock Market Declines Ahead of CPI Release, Sensex Ends at 81,289
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Mumbai, Dec 12 (NationPress) The Indian stock market concluded trading on a negative note on Thursday, influenced by selling activity in the media and FMCG sectors as investors awaited the upcoming CPI data.
By the end of the session, the Sensex stood at 81,289.96, reflecting a decline of 236.18 points, which translates to a 0.29 percent decrease. Meanwhile, the Nifty closed at 24,548.70, down 93.10 points, or 0.38 percent.
Experts noted, "the market has remained within a range leading up to the domestic CPI data release, alongside a depreciating rupee. Although inflation is expected to decline, market participants are closely monitoring vegetable prices, which will significantly impact future rate trends."
Furthermore, the Nifty IT index achieved a new peak following the US inflation data aligning with expectations, heightening anticipations for a potential rate cut by the Fed in the upcoming week.
The Nifty Bank index concluded at 53,216.45, down 174.90 points or 0.33 percent. The Nifty Midcap 100 index wrapped up at 59,021.70, declining by 271.25 points or 0.46 percent.
In addition, the Nifty Smallcap 100 index closed at 19,466.55, down by 190.80 points or 0.97 percent.
On the Bombay Stock Exchange (BSE), 1,491 stocks finished in the green, while 2,508 ended in the red, with 106 stocks remaining unchanged.
Among the losers in the Sensex collection were NTPC, Hindustan Unilever, Tata Motors, Maruti, L&T, Reliance, Asian Paints, SBI, Kotak Mahindra Bank, ITC, Nestle India, and Titan. Notable gainers included Bharti Airtel, IndusInd Bank, Tech Mahindra, Infosys, Adani Ports, TCS, Power Grid, JSW Steel, HCL Tech, ICICI Bank, and Bajaj Finance.
The Indian rupee closed at 84.86 against the dollar on Thursday, slightly up from the previous close of 84.84.
