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Indian benchmark equity indices, BSE Sensex and Nifty 50, opened up lower on Friday, complying with an adverse close on Wall Street over night.
Stock Market Updates
Sensex Today: Benchmark equity indices shut the last trading day of the week in the environment-friendly. The 30-share BSE Sensex, after recouping from very early losses, finished at 82,133.12, up 843.16 factors or 1.04% from its previous close. The index traded in between 82,192.61 and 80,082.82 throughout the session.
Similarly, the NSE Nifty 50 acquired 219.60 factors or 0.89%, clearing up at 24,768.30. The index struck a reduced of 24,180.80 and a high of 24,792.30 throughout the day.
The session preferred the bulls, with 41 out of 50 Nifty components enclosing the favorable area. Bharti Airtel, ITC, Kotak Mahindra Bank, Hindustan Unilever, and UltraTech Cement led the gains, rising to 4.44%. On the disadvantage, Shriram Finance, Tata Steel, Hindalco, In dusIn d Bank, and JSW Steel were amongst the 9 supplies that finished reduced, with losses as much as 2.44%.
V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, kept in mind that the enhancing buck can cause imported rising cost of living, which is a problem for the marketplaces. He likewise mentioned restored marketing by Foreign Institutional Investors (FIIs), that unloaded Indian equities worth Rs 4,572 crore over December 11 and 12. “With high appraisals in India, FIIs are most likely to offer even more at every market surge. The buck’s recognition post-US political elections has actually made marketing successful for FIIs,” he said.
In a positive development, India’s Consumer Price Index (CPI) inflation eased to 5.48% in November, down from 6.21% in October, as reported by the Ministry of Statistics and Programme Implementation. Food and beverage inflation softened to 8.2% from 9.69%, mainly due to a cooling in vegetable prices, which dropped to 29.33% from 42.18%.
Global Cues:
Markets across the Asia-Pacific region were lower, with Chinese stocks leading the declines.
Hong Kong’s Hang Seng index dropped 1.39%, while mainland China’s CSI 300 fell 0.94%, and the Shanghai Composite declined by 1.11%. Japan’s Nikkei 225 lost 1.16%, while the broader Topix index was down by 1.12%.
South Korea’s Kospi slipped 0.1%, though the small-cap Kosdaq rose 0.8%. And, Australia’s S&P/ASX 200 fell 0.69%.
In the U.S., the Dow Jones Industrial Average dropped 234.44 points, or 0.53%, to 43,914.12, while the S&P 500 lost 32.94 points, or 0.54%, to 6,051.25. The Nasdaq Composite fell by 132.05 points, or 0.66%, to 19,902.84.
While mega-cap and growth stocks showed mixed results, Nvidia dropped by 1.4%, whereas Microsoft gained 0.1%.
European stocks also closed lower on Thursday after the European Central Bank cut interest rates by 25 basis points as anticipated, signaling potential further easing to support a sluggish economy amid rising political uncertainties. The pan-European STOXX 600 index ended the volatile session down by 0.1%, although eurozone bank stocks, which are sensitive to interest rates, rose 0.3%.
