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Closing Bell: Nifty ends below 17,000, Sensex plunges 889 pts; IT stocks outshine

Among sectors, except IT all other sectoral indices ended in the red. BSE midcap and smallcap indices down over 2 percent each.

December 17, 2021 / 16:25 IST
  • Closing Bell: Nifty ends below 17,000, Sensex plunges 889 pts; IT stocks outshine
    Stock Market Today
    Moneycontrol.com
  • IndexPricesChangeChange%
    Sensex80,267.62-97.32 -0.12%
    Nifty 5024,611.10-23.80 -0.10%
    Nifty Bank54,635.85174.85 +0.32%
    Nifty 50 24,611.10 -23.80 (-0.10%)
    Tue, Sep 30, 2025
    Biggest GainerPricesChangeChange%
    JSW Steel1,142.7020.50 +1.83%
    Biggest LoserPricesChangeChange%
    Interglobe Avi5,594.50-112.50 -1.97%
    Best SectorPricesChangeChange%
    Nifty PSU Bank7526.75136.00 +1.84%
    Worst SectorPricesChangeChange%
    Nifty Infra9007.20-44.65 -0.49%


  • December 17, 2021 / 16:21 IST

    Ajit Mishra, VP - Research, Religare Broking:

    Markets resumed the corrective phase and shed nearly one and a half percent following weak global cues. The benchmark opened with a downtick and drifted further lower as the day progressed to close around the day’s low. Among the benchmark indices, the Nifty index ended with sharp losses of 1.6% to close at 16,970 levels. All sectors, barring IT, were feeling the heat wherein realty, banking and auto were the top losers. The broader markets too witnessed selling pressure as both midcap and smallcap ended lower by 2.6% and 2.4% respectively.

    Apart from the policy tightening, a sharp rise in the COVID cases globally has renewed participants’ worries and we feel it may aggravate further in absence of any major positive. On the index front, Nifty is likely to retest the previous swing lows and the 16,900-16,700 zone would be critical. Participants should align their positions accordingly and prefer hedged bets.

  • December 17, 2021 / 16:08 IST

    Gaurav Ratnaparkhi, Head of Technical Research, Sharekhan by BNP Paribas:

    The Nifty started the week on a positive note however witnessed selling pressure subsequently. The selling pressure continued on December 17 as well. On the way down, the index has broken the 61.8% retracement of the recent leg of the rise as well as lower end of the rising channel on the hourly chart. This shows that the short term range has shifted lower.

    16780-17400 is expected to be the short term range going ahead. Overall structure shows that the fall in this week is a part of the base formation process & the index is likely to attract buying support near the recent low of 16782.

  • December 17, 2021 / 15:57 IST

    Vinod Nair, Head of Research at Geojit Financial Services:

    Weak global sentiments inundated domestic indices as markets are digesting the hawkish stance of major international central banks amid surging omicron cases. While the European Central Bank took a small step in rolling back the crisis-era stimulus although holding down borrowing costs next year, the Bank of England surprised the markets by raising interest rates for the first time since the onset of the pandemic. Continued FII selling created tension among domestic investors. Barring IT, all sectors bled.

  • December 17, 2021 / 15:37 IST

    S Ranganathan, Head of Research at LKP securities:

    Indices succumbed today to the relentless FII selling this month as the Nifty skid below 17K with the IT Index being the only exception. Earnings beat together with revised growth guidance by Accenture however helped the IT Index gain almost 2% during the afternoon on a day when almost every other sectoral index ended deeply in the red.

    The Midcap & Smallcap Indices were pounded as investors stayed back today amidst a hawkish FED and rising domestic inflation data.

  • December 17, 2021 / 15:34 IST

    Market Close:

    After a relief in the previous session, the benchmark indices again trapped by bears and ended lower with Nifty below 17000 amid selling seen across the sectors barring IT.

    At close, the Sensex was down 889.40 points or 1.54% at 57,011.74, and the Nifty was down 263.20 points or 1.53% at 16985.20. About 913 shares have advanced, 2221 shares declined, and 76 shares are unchanged.

    IndusInd Bank, Tata Motors, ONGC, Kotak Mahindra Bank and HUL were among the top Nifty losers. Gainers included Wipro, Infosys, HCL Technologies, Power Grid Corporation and Sun Pharma.

    Among sectors, except IT all other sectoral indices ended in the red. BSE midcap and smallcap indices down over 2 percent each.

  • December 17, 2021 / 15:26 IST

    Shibani Kurian, Senior EVP & Head- Equity Research, Kotak Mahindra Asset Management Company:

    Emergence of a new COVID-19 variant- Omicron, inflation concerns and hawkish turn of global central bankers has led to an increase in volatility in equity markets worldwide including India. With inflation increasing in countries across the world, all eyes are on central bankers and the pace of liquidity normalisation adopted by them.

    India has started seeing new cases of Omicron but the real impact would be known over the next month or so as was seen in previous waves of COVID-19. The pace of vaccinations in India continued to improve steadily.

    We expect that even while the structural drivers of the Indian equity markets are intact over the medium to long term, in the near term given the current valuations (both absolute and relative), Indian equity markets could witness some degree of volatility. Market direction would be largely determined by 1) any third wave of COVID from new variant 2) flows from domestic investor as well as FIIs 3) demand trend over next few months and 4) movement in input cost inflation. RBI’s monetary policy and Union budget (to be presented in February) would be some of the other key events to watch out for.

  • December 17, 2021 / 15:22 IST

    KEC International bags multiple orders worth Rs 1,041 crore across various businesses

    KEC International has secured new orders of Rs 1,041 crore across its various businesses. Its Transmission & Distribution (T&D) business has secured orders for T&D projects in India, Middle East and Americas.

    The Civil business has secured an order for building a Data Centre in Western India and Cables business has secured orders for various types of cables in India and overseas.

    KEC International was quoting at Rs 456.70, up Rs 1.90, or 0.42 percent on the BSE.

  • December 17, 2021 / 15:18 IST

    Union Bank of India approves raising fund upto Rs 500 crore

    The bank has considered the issuance of Basel III Compliant Debt Instruments in the nature of Debentures eligible for inclusion in Additional Tier-1 Capital (“Bonds”) Series XXXIII of Rs 500 crore with Green Shoe Option up to Rs 1,000 crore (maximum Rs 1500 crore) on private placement basis.

    Union Bank of India was quoting at Rs 44.75, down Rs 1.40, or 3.03 percent on the BSE.

  • December 17, 2021 / 15:16 IST

    BSE Midcap index shed over 2 percent dragged by the Apollo Hospitals, BHEL, Zee Entertainment

  • December 17, 2021 / 15:10 IST

    Tech Mahindra and SOVICO Group announce strategic collaboration

    Tech Mahindra has announced strategic collaboration with the SOVICO Group, a leading investment group in Vietnam, to enable digital transformation for SOVICO Group, company said in its press release.

    The Memorandum of Understanding was signed to drive technology-led transformation for SOVICO across sectors including aviation, banking and insurance, and retail, it added.

    Tech Mahindra touched a 52-week high of Rs 1,674.90 and was quoting at Rs 1,640.45, down Rs 12.15, or 0.74 percent.

  • December 17, 2021 / 15:03 IST

    Market at 3 PM

    Benchmark indices slipped further dragging Nifty below 17000 level amid selling seen across the sectors barring IT.

    The Sensex was down 876.86 points or 1.51% at 57024.28, and the Nifty was down 260 points or 1.51% at 16988.40. About 907 shares have advanced, 2206 shares declined, and 63 shares are unchanged.

      

 Benchmark indices slipped further dragging Nifty below 17000 level amid selling seen across the sectors barring IT. 

 The Sensex was down 876.86 points or 1.51% at 57024.28, and the Nifty was down 260 points or 1.51% at 16988.40. About 907 shares have advanced, 2206 shares declined, and 63 shares are unchanged.
  • December 17, 2021 / 14:59 IST

    HP Adhesives IPO subscribed 15.54 times on final day:

    The initial public offering of HP Adhesives continued to receive strong response from investors, and was subscribed 15.54 times on December 17, the final day of bidding. It garnered bids for 3.92 crore equity shares against the IPO size of 25.28 lakh shares.

    There has been strong demand for the issue from retail investors as their reserved portion was subscribed 70.22 times.

    The part set aside for non-institutional investors was subscribed 8.14 times, while qualified institutional buyers have put in bids for 101 percent of the allotted quota.

  • December 17, 2021 / 14:50 IST

    Supriya Lifescience IPO Updates:

    The public issue of Supriya Lifescience, one of the key manufacturers of active pharmaceutical ingredients in India, has been subscribed 4.27 times, so far, on December 17, the second day of bidding.

    Investors bought 6.20 crore equity shares against the IPO size of 1.45 crore equity shares.

    Retail investors continue to provide strong support to the company's maiden public offer, as their reserved portion was subscribed 20.64 times.

    Non-institutional investors bid for 1.89 times the portion set aside for them, while qualified institutional buyers bought 5,238 equity shares of Supriya Lifescience against their reserved portion of 79.24 lakh equity shares.

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