Share Markets Close On Weak Note, Sensex Almost Flat, Nifty Under 26K
Both benchmarks slipped in early trade today morning, pressured by sustained foreign fund outflows and muted cues from global equity markets.
The Indian stock markets closed trading on Tuesday amidst heavy volatility. The BSE Sensex ended the session a little over 20 points down at 84,675, while the NSE Nifty50 settled for the day at 25,970, slipping 28 points.
On the 30-share Sensex, M&M, Tata Steel, Bajaj Finserv, Axis Bank, and Adani Ports settled among the gainers. Meanwhile, the laggards included Eternal, Infosys, Asian Paints, UltraTech Cement, and Bajaj Finance.
In the broader markets, indices across the board traded in red. The Nifty Midcap Select index slipped 0.37 per cent. Sectorally, the Midsmall IT & Telecom and Realty indices led the losses after tumbling 0.92 per cent and 0.84 per cent respectively. On the other hand, the Metal and PSU Bank indices dominated in green after climbing 2.03 per cent and 1.69 per cent respectively.
Both benchmarks slipped in early trade today morning, pressured by sustained foreign fund outflows and muted cues from global equity markets, as investors remained cautious amid thin year-end volumes.
Year-End Trading, FII Outflows Keep Indices Range-Bound
Market sentiment remained subdued as investors stayed largely on the sidelines amid year-end holidays and a lack of fresh triggers. Persistent selling by foreign investors continued to weigh on sentiment, even as domestic institutional participation offered limited support.
The Sensex has now declined 892.40 points or 1.04 per cent over the past five trading sessions.
Global Cues Mixed; Asia Weak, Europe Firmer
Asian markets ended on a mixed note. Hong Kong’s Hang Seng settled higher, while South Korea’s Kospi, Japan’s Nikkei 225 and Shanghai’s SSE Composite closed lower. European markets were trading marginally higher, while US equities ended lower on Monday.
On the institutional front, Foreign Institutional Investors (FIIs) sold equities worth Rs 2,759.89 crore on Monday, according to exchange data. Domestic Institutional Investors (DIIs), however, offset part of the selling by buying shares worth Rs 2,643.85 crore.
In the commodities market, Brent crude, the global oil benchmark, rose 0.47 per cent to $62.23 per barrel.
On Monday, the Sensex had declined 345.91 points or 0.41 per cent to close at 84,695.54, while the Nifty fell 100.20 points or 0.38 per cent to settle at 25,942.10.
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