Mumbai: The Indian stock market closed in the red on Monday as heightened volatility, foreign institutional investors’ (FIIs) outflows, and weak global cues weighed heavily on investor sentiment.
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Key Indices Performance
- Sensex: Closed at 78,248.13, down 450.94 points or 0.57%
- Nifty 50: Settled at 23,644.9, down 168.50 points or 0.71%
- Nifty Bank: Ended at 50,952.75, down 358.55 points or 0.70%
- Nifty Midcap 100: Closed higher at 57,189.75, up 209.95 points or 0.37%
- Nifty Smallcap 100: Declined to 18,639.95, down 115.90 points or 0.62%
Market Sentiment and Analysis
Rupak De, Senior Analyst at LKP Securities, stated, “Nifty showed volatility throughout the session, oscillating between 23,600 and 23,900.
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On the daily chart, the index has slipped below its recent consolidation and continues to trade below the 200-DMA, indicating weak market sentiment. The short-term outlook remains negative with potential downside risks.”
Sectoral Performance
Gainers:
- PSU Bank, Auto, Financial Services, Metal, Realty, Media, Energy, Infra, and Commodities saw marginal gains.
Losers:
- Pharma, IT, FMCG, and Healthcare sectors witnessed a decline, dragging the market lower.
Top Gainers and Losers
Top Gainers:
- Zomato, Tech Mahindra, HCL Tech, Sun Pharma, IndusInd Bank, and Asian Paints
Top Losers:
- Tata Motors, Titan, M&M, Tata Steel, SBI, NTPC, Maruti Suzuki, HDFC Bank, and ICICI Bank
Market Breadth
On the Bombay Stock Exchange (BSE):
- Advances: 1,486 shares
- Declines: 2,636 shares
- Unchanged: 145 shares
Currency Market Update
The Indian rupee ended flat at 84.84 against the US dollar, depreciating by 30 paise from its previous close of 84.54. The rupee opened stronger at 85.48 before witnessing fluctuations.
FII and DII Activity
- FIIs: Sold equities worth Rs 1,323.29 crore on December 27
- DIIs: Bought equities worth Rs 2,544.64 crore on the same day
The Indian stock market’s weak closing highlights ongoing volatility and investor caution amid global and domestic factors. Experts advise monitoring economic and corporate developments closely to navigate the short-term challenges in the market.