Sensex, Nifty snap 7-day winning run, end marginally down; Paytm cracks 19%

Closing Bell on December 7, 2023: Broader indices, however, outperformed on Thursday - the BSE MidCap index advanced 0.7 per cent, while the SmallCap added 0.3 per cent.

Stock market highlights: Equity benchmark indices snapped their seven-day winning run owing to some profit-taking ahead of the RBI policy outcome tomorrow. Weakness in Asian peers also weighed on the sentiment.

The S&P BSE Sensex touched a high of 69,695, and a low of 69,321 before settling with a modest loss of 132 points at 69,522. The NSE Nifty 50 ended 37 points lower at 20,901. In the last seven trading sessions, the benchmark indices had rallied close to 6 per cent.

The broader indices, however, managed to end with gains on Thursday. The BSE MidCap index advanced 0.7 per cent, while the SmallCap added 0.3 per cent.

Among sectors, power stocks were the major gainers, while sugar stocks witnessed strong selling today.

Among individual stocks, Paytm tumbled 19 per cent amid concerns over likely impact on earnings from scaling down postpaid loans. READ MORE

3:55 PM

COMMENT:: Market takes a breather ahead of RBI Policy outcome

"The market took a breather, the investors are in a wait-and-watch mode ahead of the monetary policy announcement. A better-than-estimated Q2 GDP growth, ease in global oil prices and drop in global bond yield will be the silver lining for the MPC. However, the expectation of a rise in domestic November inflation, drop in Rabi cultivation and increase in foodgrain prices will influence RBI to adopt a cautious approach in the short-term."

 

- Vinod Nair, Head of Research at Geojit Financial Services
 

3:53 PM

Market breadth was positive; 2,208 stocks advanced v/s 1,558 declining shares on the BSE

3:52 PM

BSE Smallcap Heatmap:: SpiceJet zooms 20%; Network 18 group stocks crack

3:50 PM

BSE Midcap Heatmap:: SJVN, NHPC, Torrent Power soar over 6%; IDFC First Bank dips 3%

3:47 PM

Broader Market Check:: MidCaps, SmallCaps buck trend, gain up to 0.7%

3:46 PM

Nifty 50 Losers:: Bharti Airtel sheds 2.5%; HUL, Apollo Hospitals whine

3:44 PM

Nifty 50 Gainers:: Adani Ports, Power Grid rally up to 2.5%; UltraTech up nearly 2%

3:42 PM

Sensex 30 Heatmap:: 13 Gainers v/s 17 Losers

3:40 PM

CLOSING BELL:: NSE Nifty50 settled with a loss of 37 pts at 20,901

3:38 PM

CLOSING BELL:: S&P BSE Sensex ends 132 pts lower at 69,522

3:27 PM

Power stocks in focus; Tata Power m-cap hits Rs 1 trn, Torrent surges 11%

In the past one month, the S&P BSE  Power index has surged 27 per cent, against 7 per cent rise in the S&P BSE Sensex. READ MORE

3:21 PM

Global check:: US, UK stock futures marginally down

Source: Investing.com

3:08 PM

Portfolio rebalancing: Is it time to move away from small-caps?

After a strong rally in the small-cap segment this past year, some mutual fund asset management companies are now suggesting that the time is ripe to relocate assets to large-cap or mid-cap stocks. READ MORE

2:55 PM

ALERT:: PSP Projects wins Rs 102 cr order; stock up 1%

PSP Projects in an exchange filing announced receipt of Work Order worth Rs 101.67 crores for the project "Construction and Maintenance of Main Building of GBRC" for Gujarat Biotechnology Research Centre (GBRC) at GIFT City Gandhinagar, Gujarat in Government Category. The project is to be completed within a period of 18 months.

2:40 PM

No 'spectacular announcement' likely in Feb 1 Budget, says finance minister

Speaking at the CII Global Economic Policy Forum, Sitharaman said the country would be preparing for the Lok Sabha elections which are due in the summer of 2024. READ MORE