Sensex continues to grapple with negative price movements. The index followed the same trend today, closing lower than the previous closing with most of the sectors baring few stocks of the major indices falling down. This hint towards a bearish trend across the Indian markets.
The Nifty 50 ended the day at 24,504, which marked the close of the day. NTPC was one of the significant companies on this downtrend where it lost more than two percent with Hindustan Unilever and Coal India grouped with losses of two percent or more as well. Other laggards such as Hero MotoCorp BPCL Tata Motors Apollo Hospitals also declined further dampening the already fragile market conditions.
In addition, the Nifty Bank closed at 53,216, furthering the downtrend, Axis Bank, HDFC Bank, Bob, Punjab National Bank and Federal Bank were the main shareholders of this decline, showing that there was a lot of resistance to the banking stocks throughout the session. It should also be stated that at the time of closing, there was still high selling pressure on these stocks.
With a close at 73082, the Nifty Next 50 pushing further down the bottom. Unfortunately, Indices were considerably under pressure because of some major cause that are part of Nifty Index’s these were BHEL where the stock cut several major percent and Godrej stock was down by 2 percent. The IRCTC along with them was also among the stocks facing selling pressure towards closing.
The BSE 200 fell from its previous close finishing at 11374. The situation was no better for Jubilant Food Works and Indus Towers, as they too suffered great losses, down more than 5% and 4% respectively. Sun Pharma also suffered a 3% reduction. But Adani shares did provide some support to the depth of the index as they managed to gain and prevent politics over economics.
All in all, the market registered a marginal loss today as a result of a combination of negative sentiments across all the major indexes. Although most sectors were under pressure, Adani stocks provided some support which was on an uptrend in the general down movement of the market.
Also read: Indian Markets on 11th Dec: Sensex Holds Steady Above 81,000 Despite Mixed Sectoral Showings
Published on: December 11,2024 at 9.30 PM GMT.
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Tomorrow 13th dec is celebrated as Lost & Found Day!
As stated in Bhagavad Gita : (Bhagavad Gita 13.31)
अविभक्तं च भूतानि विभक्तमिव च स्थिता।
The Supreme Being is undivided, yet He appears to be divided among all living entities.