Indian benchmark indices ended Monday’s session under pressure, with both the Sensex and Nifty closing lower. The Sensex settled at 84,782.27, down 0.53%, while the Nifty closed at 25,959.50, also slipping 0.42%. The Nifty Bank followed the broader trend and ended at 58,835, down 0.05%.
“After a range-bound positive session, the market closed with a decline in the last half hour, led by Monday expiry, as Nifty50 indices could not survive above the key threshold of 26,000. Investor sentiment remained cautious, in anticipation of key event risk like delays in finalizing the interim US-India trade agreement. Nonetheless, selective buying in IT stocks offered some support,” said Vinod Nair, Head of Research, Geojit Investments.
“On a brighter note, global markets remain optimistic, fueled by renewed expectations of a December Fed rate cut, prompted by downside risks to U.S. employment data. Domestically, favorable macro indicators, including GDP growth, controlled inflation, stable oil prices, and a strong H2 earnings outlook, have contributed to market stability,” he added.
Lets take a look at the key highlights of today’s trading session –
Top gainers
A few large-cap names managed to move against the broader trend. Tech Mahindra, Adani Ports and Special Economic Zone, and HCL Technologies were among the notable gainers of the day.
Key losers
On the downside, several heavyweights pulled the indices lower. Bharat Electronics, Mahindra & Mahindra, Tata Steel, UltraTech Cement, and Bajaj Finserv were among the major laggards.
Midday movers
A sharp reaction was seen in defence names after Hindustan Aeronautics Limited slipped nearly 4% in intraday trade. The decline followed the Tejas fighter jet crash at the Dubai Air Show, its second major loss in under two years triggering broad selling across the defence pack. Several defence stocks fell between 2%-4%.
InterGlobe Aviation (IndiGo) moved higher by over 2% in early trade after BSE Index Services confirmed that the stock will replace Tata Motors Passenger Vehicles in a benchmark index from December 22. The gains, however, cooled off as the session progressed.
Groww also saw early traction, rising about over 3% in the morning as the stock continued its technical recovery from Friday’s bounce.
In contrast, InterGlobe Aviation, the parent of IndiGo saw early morning strength, climbing over 2% before cooling off later.
Meanwhile, shares of Groww jumped briefly, rising over 3% in early trade as the stock continued its technical rebound from Friday’s session.
