Sensex ended lower for the second consecutive session on Monday led by a fall in IT and pharma stocks. Sensex slipped 34 points to end at 62,834 and Nifty gained 5 points to close at 18,701.
Reliance Industries (1.46%), Tech Mahindra (1.33%), UltraTech Cement (0.76%), Dr Reddy’s (73%), Axis Bank (0.61%) and Bharti Airtel (0.58%) were among the top Sensex losers.
Tata Steel (3.35%) , NTPC (1.66%), SBI (1.58%), IndusInd Bank (1.38%) and PowerGrid (0.61%) were among the top Sensex gainers.
Of 30 Sensex stocks, 15 closed lower.
Vinod Nair, Head of Research at Geojit Financial Services said, "Market continued its profit booking trend from the record high as they exercised prudence ahead of the RBI policy announcement on December 7. Partially, it was also due to increase in crude prices due to OPEC decision not to cut output target, and ease in China’s Covid policy. The IT sector witnessed the highest profit booking, while bank and metals outperformed. Market expects a 35 bps rate hike compared to 50 bps in the previous three meets in anticipation of a fall in inflation forecast."
Market breadth was positive with 2,111 shares closing higher against 1,486 stocks falling on BSE. 197 shares were unchanged. IT and pharma shares were the top losers with their BSE indices falling 110 points and 113 points, respectively. On the other hand, metal and banking shares were the top sectoral gainers with their BSE indices rising 491 points and 225 points, respectively.
Market cap of BSE-listed firms settled at Rs 290.46 lakh crore against the previous session's market cap of Rs 289.57 lakh crore. BSE mid cap and small cap indices rose 27 points and 74 points, respectively.
Foreign Institutional Investors (FIIs) bought shares worth Rs 214.76 crore on Friday, as per exchange data.
Indian equity market ended lower on Friday, snapping its eight-day rally, amid weak global markets and profit-booking at record level. Sensex slipped 415.69 points to end at 62,868.50. During the day, it crashed 604.56 points to 62,679.63. Nifty lost 116.40 points or 0.62 per cent to end at 18,696.
Elsewhere in Asia, markets in Tokyo, Shanghai and Hong Kong settled higher, while Seoul ended lower.
Equity exchanges in Europe were trading mostly lower in the afternoon trade. Wall Street had ended on a mixed note on Friday. International oil benchmark Brent crude was trading 1.73 per cent higher at $87.05 per barrel.
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