Stock Market Today: Sensex Plummet 530 Points, Nifty Below 24,400

India's Consumer Price Index (CPI)-based inflation eased to 5.48 per cent in November, down from 6.21 per cent in October, according to Ministry of Statistics and Programme Implementation data

Stock Market Today: Wall Street closed lower on Thursday as investors analysed key economic data ahead of the Federal Reserve's policy meeting next week

Source : ABPLIVE AI

Stock Market Today: The Sensex and Nifty opened weak on Friday, weighed down by broad-based selling across sectors amid global market uncertainty. The metal and PSU bank indices were hit hardest, falling by over 1 per cent each. Analysts downplayed the significance of the CPI data released on Thursday, suggesting that the markets had already factored in the numbers, leaving little potential for surprises.

At 10 am, the Sensex dropped by 532.11 points, or 0.65 per cent, to 80,757.85, while the Nifty fell by 158.35 points, or 0.65 per cent, to 24,390.35. Of the total shares traded, 941 advanced, 2,187 declined, and 103 remained unchanged.

"These numbers (India CPI) are unlikely to have any major impact on the market—it will likely just consolidate. We are currently in a consolidation zone, with the Nifty expected to range between 24,200–24,400 on the lower side and 24,600–24,750 on the higher side. While the markets remain within this range, we can expect stock-specific and sector-specific movements, as seen throughout this and the previous week,”  said Gaurang Shah, Senior Vice President of Geojit Financial Services.

"Just few days back, the index was at 23,300, so this recovery to current levels warrants some consolidation time. However, if Nifty closes decisively above 24,750–24,800, we could see a rally toward 25,000, though that will take some time,” Shah noted.

India's Consumer Price Index (CPI)-based inflation eased to 5.48 per cent in November, down from 6.21 per cent in October, according to Ministry of Statistics and Programme Implementation data. Food and beverage inflation also moderated, dropping to 8.2 per cent in November from 9.69 per cent in October, primarily driven by a decline in vegetable prices, which cooled to 29.33 per cent from 42.18 per cent.

Wall Street closed lower on Thursday as investors analysed key economic data ahead of the Federal Reserve's policy meeting next week. A report from the US Labor Department showed that producer prices rose more than expected in November, although softer service costs indicated a continuation of the broader disinflation trend. Additionally, an unexpected increase in initial unemployment claims raised concerns about labour market stability.

In Asia-Pacific, markets declined as a strong dollar weighed on risk sentiment. Treasury yields posted their largest weekly rise of the year, with expectations for significant US rate cuts in 2025 fading.