FINAL TRADE: Sensex, Nifty settle in the red after a seven-day rally; Paytm down nearly 19%
Stock market today: Bharti Airtel, HUL, Apollo Hospitals, and ONGC were among the top losers in the Nifty basket, down in the range of 1-2 per cent.
Stock market today: Domestic blue-chip indexes, Nifty 50 and Sensex, ended in the red on Thursday, December 7, after registering a series of record highs on profit booking. With today's fall, the market snapped its seven-session rally.
The NSE Nifty 50 index shed 0.17 per cent, or 36.55 points, to end at 20,901.15 points, while the S&P BSE Sensex closed 0.19 per cent, or 132.04 points, lower at 69,521.69. Bharti Airtel, HUL, Apollo Hospitals, and ONGC were among the top losers in the Nifty basket, down in the range of 1-2 per cent. On the other hand, Adani Ports, Power Grid, UltraTech Cement, and Cipla were among the top gainers. The scrips traded with gains of around 3–1 per cent.
"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," Vinod Nair, Head of Research at Geojit Financial Services, said.
"However, the expectation of a rise in domestic November inflation, a drop in Rabi cultivation, and an increase in foodgrain prices will influence the RBI to adopt a cautious approach in the short term," the expert added.
Amid broad market indices, the Nifty SmallCap 100 and Nifty MidCap 100 ended in green, up 0.59 per cent and 0.37 per cent, respectively. In sectoral indices, Nifty Bank managed to end in green, finishing 0.01 per cent, or 6.85 points, higher at 46,841.4.
Global Market
European shares dropped on Thursday, led by travel and leisure stocks, as investors grew wary of an economic downturn following a slew of recent weak data out of Germany and keenly awaited a GDP print from the euro zone.
The pan-European STOXX 600 index fell 0.3 per cent by 0810 GMT after touching a more than four-month high on Wednesday. Data showed Germany's industrial production unexpectedly fell in October, a day after industrial orders in the 20-nation bloc's largest economy also slipped, showcasing a struggling industrial sector.
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