Sensex Closes at 81,748 Amidst Varied Global Signals
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Mumbai, Dec 16 (NationPress) The Indian stock market experienced a downturn on Monday, influenced by varied global signals.
At the end of trading, the Sensex closed at 81,748.57, marking a decline of 384.55 points, or 0.47 percent, while the Nifty finished at 24,668.25, down by 100.05 points, or 0.40 percent.
The national market exhibited a range-bound performance, with the real estate sector showing robust performance driven by expectations of increasing demand and a potential rate cut cycle in 2025, according to market analysts.
Positive indications from the manufacturing and service PMI suggest an optimistic outlook for the H2 FY25 earnings, potentially reducing further downgrades for FY25 earnings.
Experts noted, "Elevating US 10-year bond yields and a strengthening dollar caused investors to remain cautious regarding the forthcoming US Fed policy and its commentary on 2025 rates."
Nifty Bank concluded at 53,581.35, decreasing by 2.45 points, or 0.00 percent. The Nifty Midcap 100 index finished at 59,443 after gaining 451.50 points or 0.77 percent.
The Nifty Smallcap 100 index ended at 19,531.05 after a rise of 123.75 points, or 0.64 percent.
On the Bombay Stock Exchange (BSE), 2,338 shares ended positively while 1,802 shares faced losses, with 100 shares remaining unchanged.
Sector-wise, purchasing activity was observed in the Auto, PSU Bank, Pharma, Realty, Media, and Private Bank sectors of Nifty.
Within the Sensex constituents, Titan, UltraTech Cement, NTPC, TCS, Bharti Airtel, Tech Mahindra, Infosys, Hindustan Unilever, JSW Steel, HCL Tech, Tata Steel, Tata Motors, HDFC Bank, and Nestle India were among the top decliners. Conversely, IndusInd Bank, Bajaj Finance, Power Grid, M&M, and Axis Bank emerged as the key gainers.
The market is currently anticipating the US Federal Reserve meeting scheduled for December 17-18. The rupee was trading at 84.87 as the dollar strengthened, remaining above the $106.50 mark. Analysts expect the rupee to trade within a range of 84.75 to 85.00 amid these developments.
