Stock Market Today: Indian benchmark indices retreated after a six-day advance, with the bulls once again failing to retake record highs that remain just over 1% away. Profit-taking ensued after the recent rally, with investors keenly eyeing key US economic data for cues on the Fed rate cut path.
The 30-share BSE Sensex declined 278 points or 0.33% to 84,673, while its NSE counterpart Nifty 50 lost 103 points or 0.40% to 25,910.
The selling was broad-based as all major sectoral indices declined in trade today. Meanwhile, the broader market also came under pressure, as the BSE Midcap index shed 0.70% and BSE Smallcap index 0.85%.
10 key highlights from stock market
Here are the 10 key highlights from the Indian stock market today:
1. Why did Sensex, Nifty decline today?
Vinod Nair, Head of Research, Geojit Investments, said the domestic equity market edged lower as investors booked profits after the recent rebound, mirroring weak global sentiment.
“Expectations of a U.S. Fed rate cut in December have diminished, weighing on sentiment, with IT, metal, and realty stocks declining amid a stronger dollar, while private banks offered some support. Investors now await this week’s U.S. jobs data, which will be key in shaping the Fed’s policy outlook. Going forward, progress on the Indo-U.S. trade deal and a strengthening domestic earnings outlook could help revive confidence and support market momentum to convincingly cross the Nifty50 threshold of 26,000,” Nair added.
2. 42 Nifty stocks decline
A total of 42 Nifty 50 stocks tumbled in trade today, Tata Consumer emerging as the worst performer with a 2.28% decline. It was closely trailed by Tech Mahindra, which lost 2.21%.
Jio Financial, IndiGo and Eternal emerged as other top losers, shedding over 1.5% each.
3. 8 stocks advance
Telecom major Bharti Airtel emerged as the best performer, with a 1.60% rise in trade today. Axis Bank (up 1.07%), Asian Paints (0.65%), Shriram Finance (0.62%) and Titan (0.42%) followed suit.
4. Most active stocks by volume
Vodafone Idea remained the most active stock in terms of volume as some 61.26 crore shares of the telecom firm changed hands. Newly-listed Groww followed suit with over 46 crore traded volume. PhysicsWallah, GMR Airports and YES Bank were among other most actively traded stocks on NSE today.
5. 6 stocks end 9% or higher
Six stocks on the NSE ended between 9-19% gains. Securekloud Technologies was the top performer with a 19% rise. The SME stock last Friday posted its Q2 results.
Energy Development Company and Bang Overseas, up 19.97% and 13.28%, were the only two stocks that clocked double-digit gains.
Pansari, Developers, TPHQ and 5Paisa closed 9% higher in trade.
6. 69 stocks at 52-week highs
Nearly 70 stocks scaled 52-week highs in trade today. Some of the prominent names included AU Small Finance Bank, Canara Bank, Biocon, Groww, Hero MotoCorp, Nykaa, Piramal Finance, SBI, Titan and UPL among others.
7. 150 stocks slip to 52-week lows
On NSE, 150 stocks plumbed 52-week low levels in trade today. Bata India, Heidelberg Cement, Imagicaa, Laxmi Dental, Orient Cement, Raymond Realty, Rolex Rings, Saregama, Thermax and Zee Media were some of the prominent names that touched one-year lows.
8. Advance-decline ratio favours sellers
In today’s trade, 2168 stocks declined on NSE and 969 stocks advanced, signalling a clear bias towards declines.
9. 79 stocks hit upper band
Seventy-nine NSE stocks hit their upper price band. Eighty-one stocks hit their lower price bands in today’s trading session as per NSE data.
10. Nifty technical outlook
Nilesh Jain, Head – Technical and Derivatives Research Analyst (Equity Research), Centrum Broking, said that the market snapped its six-day winning streak, with Nifty forming a bearish engulfing candle on the daily chart, signalling a potential pause in the trend.
“It encountered resistance near the 26,000 mark, which remains a key psychological hurdle. A decisive breakout above this level could pave the way for an upside move toward 26,200. On the downside, immediate support lies at the 21-DMA around 25,800. The market is currently in a consolidation phase, and once this phase concludes, Nifty could resume its upward trajectory and potentially reach new record highs in the near term,” said Jain.
Disclaimer: This story is for educational purposes only. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.
