Stock Market Today-Nifty ends below 17200
Market at the close today- Nifty ends below 17200, Sensex down 764 pts
Indian stock market today opened higher amid mixed cues from the global markets. The equity benchmark indices slipped immediately after a few minutes of trading in the morning and later continued their lackluster trade in the afternoon session. Markets fell sharply in the second half on the back of selling pressure in Financial Services, FMCG, and Banks.
Stock Market News Today
The market sentiments got hit as two cases of new Covid variant -Omicron was found in Karnataka yesterday. Traders were worried amid uncertainties over the global economic recovery in the wake of the emergence of Omicron. The continued selling by the Foreign Institutional Investors (FIIs) in the Indian stock market also impacted the market sentiments.
However, the downside remains capped as the Indian economy is showing solid signs of recovery as per the November economic data. India’s Service PMI data for November released today indicated that the Indian service sector continued to strengthen, with a substantial upturn in new orders underpinning output growth. The Service PMI data reported 58.1 in November, down only fractionally from 58.4 in October. The seasonally adjusted India Services Business activity index pointed to the second-fastest rise in output since July 2011.
On the global front, Asian markets closed mixed as Chinese giant Didi Global said it would delist in the New York Stock exchange, renewing concern about US-China tension and tech regulation. Meanwhile, as the private survey showed, China’s service activity expanded at a slower pace in November amid rising inflationary pressures and continuing small-scale Coovid-19 outbreaks. European markets are trading in the green taking their cues from the positive close in the US markets. Investors keep their close eye on the release of the latest US non-farm payrolls report later today.
Stock Market at the Close Today
At the close, Nifty declined by 204.95 points or 1.18 percent and closed at 17196.70 while Sensex was down by 764.83 points or 1.31 percent and finished at 57696.46 levels. The Bank Nifty index also closed the red today, it plunged by 311.10 points or 0.85 percent and ended at 36197.15 levels.
The broader markets closed in the mixed today. The Nifty midcap index was down by only 3.20 points or 0.01 percent and closed at 30293.25 levels. The Nifty smallcap index was gained by 88.50 points or 0.82 percent and finished at 10827 levels.
Top Gainers and Losers
The top five gainers in the Nifty index were UPL, BPCL, ONGC, IOC, and IndusInd Bank. The Nifty index top losers were Power Grid, Reliance, Kotak Bank, Asian Paints, and Tech Mahindra.
The top gainers in the Nifty midcap index were Vodafone Idea, AB Capital, Indian Hotels, and the losers were Adani Total Gas, Varun Beverages, Gujarat Gas.
The top gainers in the Nifty smallcap index were Amber Enterprise, Sequent Scientific, Aegis Logistics and the losers were Trident, PNB Hosing Fin, VIP Industries.
The most active stocks in the Nifty index in terms of value were Reliance, ICICI Bank, and Infy. The most active stocks in terms of volume were Power Grid, Tata Motors, and Coal India.
On a sectoral front, barring Media all other sectors closed in the red today. The sectors that dragged the markets were Financial Services, Oil & Gas, Healthcare, FMCG, and Banking.
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