Nifty 50 also closed in red and settled at INR 24198. Tata Motors, PowerGrid, BEL, NTPC, JSW Steel, and last but not least this Adani Ports were the biggest draggers, all down by highly negative-selling pressure. Gold stars were Trent and Dr. Reddy’s, improving by over 2%, while Cipla, Wipro, and Reliance also manage climbs. Nevertheless, there were the bearish sentiments, which in turn pulled down the index.
The Nifty Banking index fell more than 1.3% to end at INR 52,139. Major banks included in this decline were Kotak Bank, AU Small Finance Bank, IndusInd Bank, Axis Bank, and SBI, as they all together contributed to making this closing miserable for this index.
The Nifty Next 50 also moved on to close in the red at INR52,139, largely led down by Jio Financial, which fell by over 3%, while Adani Green also suffered a similar price cut of over 3%. Other stocks contributing over 2% losses included HAL, Motherson, PNB, GAIL, VBL, and PFC in adding pressure on the index.
BSE 200 closed at the level of INR 11213, drawn down mostly by continued heavy discount of more than 6% by NMDC and further dropped by Federal Bank of over 4%. Most of the other contributors were Mazdock, Jio Financial, Central Bank, and Ashok Leyland.
Those indices tried to stabilize, but overall, the markets, with a huge bout of selling pressure, closed the day lower despite a few of its gainers.
Also read: Sensex Plunges Over 1.3% – Here’s What You Need To Know
Published on: December 17, 2024 at 8.30 PM GMT.
Disclaimer: The information provided is for educational purposes only and does not constitute financial advice. We are not registered financial advisors. Please conduct your own research and consult a qualified advisor before making investment decisions. Any investment decisions you make based on this information are solely at your own risk.
Tomorrow 19th dec is celebrated Goa Liberation Day!
As stated in Bhagavad Gita : (Bhagavad Gita 15.1)
उर्ध्वमूलमधःशाखं अश्वत्थं प्राहुरव्ययम्।
They say that the imperishable Ashvattha tree has its roots above and branches below.