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The headline equity indices ended Tuesday's session with modest moves, finishing flat but off their lowest points, as investors stayed on the sidelines ahead of inflation data for the US and domestic economy.
The US CPI data, scheduled on Wednesday, will likely determine the Federal Reserve's interest rate trajectory, impacting foreign inflows into emerging markets such as India. Domestic inflation figures, due a day later, is expected to have eased in November.
The Sensex gained 2 points to close at 81,510, while the Nifty 50 edged lower, falling by 9 points to settle at 24,610.
The broader markets outperformed the benchmark indices, with the Midcap index rising 137 points to close at 59,135, while the Nifty Bank index added 170 points to end at 53,578. The market breadth was neutral, with an equal number of advancing and declining stocks as the advance-decline ratio stood at 1:1.
Among sectoral indices, IT stocks saw strong gains, rising 0.8%. HCL Technologies, Wipro, and Infosys were the top performers in the Nifty, each advancing by over 1%.
In individual movers, Bajaj Finserv’s stock rose nearly 2%, after the company announced ambitious plans to achieve a net profit of ₹20,000 crore by fiscal 2029, sparking optimism about its future growth prospects.
Religare Enterprises added 4% to its value after the Reserve Bank of India (RBI) approved an increase in the Burman family’s stake in the company.
Greaves Cotton surged 20%, bolstered by news that prominent investor Vijay Kedia had acquired a 25 crore stake in the company, sparking buying interest among retail investors.
On the flip side, Adani Group stocks faced continued selling pressure, with all Adani Group companies, excluding Ambuja Cements, ending in the red. Adani Green Energy, a key player in the group, saw its stock decline by more than 3%.
Swiggy, the food delivery giant, saw profit booking, with its stock falling 4% from its intraday highs. Investors cashed out after the stock showed significant gains earlier in the day.
\Life Insurance Corporation of India (LIC) saw a setback, as its stock fell 3% following weak premium data for November, raising concerns about the insurer’s near-term performance.
| Company | Value | Change | %Change |
|---|
The US CPI data, scheduled on Wednesday, will likely determine the Federal Reserve's interest rate trajectory, impacting foreign inflows into emerging markets such as India. Domestic inflation figures, due a day later, is expected to have eased in November.
The Sensex gained 2 points to close at 81,510, while the Nifty 50 edged lower, falling by 9 points to settle at 24,610.
The broader markets outperformed the benchmark indices, with the Midcap index rising 137 points to close at 59,135, while the Nifty Bank index added 170 points to end at 53,578. The market breadth was neutral, with an equal number of advancing and declining stocks as the advance-decline ratio stood at 1:1.
Among sectoral indices, IT stocks saw strong gains, rising 0.8%. HCL Technologies, Wipro, and Infosys were the top performers in the Nifty, each advancing by over 1%.
In individual movers, Bajaj Finserv’s stock rose nearly 2%, after the company announced ambitious plans to achieve a net profit of ₹20,000 crore by fiscal 2029, sparking optimism about its future growth prospects.
Religare Enterprises added 4% to its value after the Reserve Bank of India (RBI) approved an increase in the Burman family’s stake in the company.
Greaves Cotton surged 20%, bolstered by news that prominent investor Vijay Kedia had acquired a 25 crore stake in the company, sparking buying interest among retail investors.
On the flip side, Adani Group stocks faced continued selling pressure, with all Adani Group companies, excluding Ambuja Cements, ending in the red. Adani Green Energy, a key player in the group, saw its stock decline by more than 3%.
Swiggy, the food delivery giant, saw profit booking, with its stock falling 4% from its intraday highs. Investors cashed out after the stock showed significant gains earlier in the day.
\Life Insurance Corporation of India (LIC) saw a setback, as its stock fell 3% following weak premium data for November, raising concerns about the insurer’s near-term performance.
First Published: Dec 10, 2024 3:48 PM IST
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