Stock Market Update: Amidst a negative trend in the global markets and ongoing outflows of foreign funds, the Sensex closed almost 51 points lower on Monday while the Nifty settled unchanged.
The markets are anticipating the release of the November inflation figures later today, according to dealers.
Stock Market Update: Sensex and Nifty
To close at 62130.57, the 30-share BSE Sensex dropped 51.10 points, or 0.08 percent. It dropped 505.52 points or 0.81 percent over the day to reach 61676.15. The larger NSE Nifty concluded the day at 18497.15, up 0.55 points.
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The Sensex pack’s biggest laggards included Asian Paints, Infosys, Titan, Kotak Mahindra Bank, Power Grid, Bharti Airtel, State Bank of India, and Bajaj Finserv.
Today’s winners
Among the winners were Tata Steel, Nestle, Dr. Reddy’s, UltraTech Cement, Wipro, and HDFC Bank.
According to Vinod Nair, Head of Research at Geojit Financial Services, “a lacklustre start-off in the domestic market was smoothed mainly to a recovery in banking, metals, and oil & gas, but sustained selling in IT stocks weighed on the indices.”
Equity markets in Asia closed lower in Seoul, Tokyo, Shanghai, and Hong Kong.
Foreign Institutional Investors
In mid-session deals, equity exchanges in Europe were also trading lower. On Friday, the US stock markets recorded a negative closing price.
Benchmark Brent crude for international oil prices fell 0.80% to USD 75.49 per barrel.
According to exchange data, Foreign Institutional Investors (FIIs) continued to be net sellers on Friday in the capital markets, selling shares worth Rs 158.01 crore.
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