Market failed to build on the opening gains and ended on a negative note for the third straight session on December 17 amid mixed global markets post sluggish US jobs data, persistent FII outflow and falling rupee amid delay in potential India-US trade deal.
At close, the Sensex was down 120.21 points or 0.14 percent at 84,559.65, and the Nifty was down 41.55 points or 0.16 percent at 25,818.55. BSE Midcap index fell 0.6%, while smallcap index shed nearly 1%.
After hitting fresh record low in the previous session the Indian rupee appreciated today, snapping five-day losing streak, to closed higher by 66 paise at 90.37 against Tuesday's close of 91.03
Shriram Finance, SBI, Eicher Motors, Hindalco Industries, Tata Consumer were among top gainers on the Nifty, while losers included Max Healthcare, SBI Life Insurance, HDFC Life, Trent, Apollo Hospitals.
Among sectors, PSU Bank index added 1.2%, while media index shed 2%, while Private Bank, Realty, Consumer Durables, FMCG, Healthcare were down 0.4-1%.
In stock-specific action, Akzo Nobel shares slipped more than 13% on 51.9 lakh shares block deal, Meesho shares surged 20% after UBS initiates ‘buy’ rating, Indian Overseas Bank shares fell 6% after government to sell up to 2% stake in the bank, Shriram Finance shares gained 2% as board meeting scheduled on December 19, Apeejay Surrendra Park shares added 1% on acquiring 100% stake of THALI Hotels.
| Index | Prices | Change | Change% |
|---|---|---|---|
| Sensex | 76,034.42 | -829.29 | -1.08% |
| Nifty 50 | 23,639.15 | -227.70 | -0.95% |
| Nifty Bank | 55,100.95 | -634.80 | -1.14% |
| Biggest Gainer | Prices | Change | Change% |
|---|---|---|---|
| Coal India | 470.10 | 23.35 | +5.23% |
| Biggest Loser | Prices | Change | Change% |
|---|---|---|---|
| M&M | 3,031.20 | -137.00 | -4.32% |
| Best Sector | Prices | Change | Change% |
|---|---|---|---|
| Nifty Energy | 36834.35 | 695.85 | +1.93% |
| Worst Sector | Prices | Change | Change% |
|---|---|---|---|
| Nifty Auto | 25098.00 | -828.00 | -3.19% |
Also Read - RBI steps in aggressively to boost struggling rupee, traders say
More than 180 stocks hit 52-week low, including Tejas Networks, Cohance Life, BASF, Sapphire Foods, Jubilant FoodWorks, Ramkrishna Forging, HFCL, Sanofi India, United Breweries, Bata India, NCC, KNR Construction, Blue Dart, ACC, Mankind Pharma, REC, Page Industries, Sheela Foam, among others. Click to View More
New Listings
The shares of Nephrocare Health Services ended with 2.5% gain after listed with a premium of 6.52 percent over the IPO price of Rs 460 per share.
After making a weak market debut at Rs 155.60 with a discount of 3.95 percent over the IPO price of Rs 162, Park Medi World shares ended lower by 8.6% at Rs 148 per share.
Outlook for December 18
Rupak De, Senior Technical Analyst at LKP Securities
Nifty has remained in the bears’ grip, as the index stayed below the 21 EMA for yet another session, confirming a bearish short-term trend. The RSI also maintained a bearish tone, continuing with its bearish crossover.
On the lower end, the index once again found support at the 50 EMA. However, repeated retesting of a moving average within a short span raises doubts about the strength of this support.
Overall market breadth remains weak. A decisive slip below 25,700 could trigger a correction towards 25,500–25,400. On the higher end, the 25,950–26,000 zone is likely to act as a crucial resistance area.
Abhinav Tiwari, Research Analyst at Bonanza
Today, the Indian equity markets ended a volatile session almost flat, as late buying in select financial and defensive stocks helped offset losses caused by heavyweights in the banking space and continued foreign investor selling. The muted close reflected the absence of strong domestic triggers, along with ongoing currency volatility and uncertainty around the timing and pace of global interest rate cuts.
Benchmark indices traded in a narrow range throughout the day. Both indices ended with marginal losses of around 0.15%, after opening slightly higher. Midcap and smallcap stocks also saw mild weakness. Investors remained cautious due to mixed global cues while lower crude oil prices provided some macroeconomic comfort, this positive was offset by continued weakness in the rupee.
Large private banks like HDFC Bank and ICICI Bank were key drags. In contrast, select PSU, infrastructure, and defence related stocks gained, supported by fresh order wins and sector specific interest. Near-term market moves are likely to remain data driven and stock specific rather than index led.
Disclaimer: The views and investment tips expressed by experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decision.
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