Active Stocks
Thu Mar 28 2024 15:59:33
  1. Tata Steel share price
  2. 155.90 2.00%
  1. ICICI Bank share price
  2. 1,095.75 1.08%
  1. HDFC Bank share price
  2. 1,448.20 0.52%
  1. ITC share price
  2. 428.55 0.13%
  1. Power Grid Corporation Of India share price
  2. 277.05 2.21%
Business News/ Markets / Stock Markets/  Sensex falls over 300 points but midcap, smallcap stocks end with gains
BackBack

Sensex falls over 300 points but midcap, smallcap stocks end with gains

Most other markets were lower today amid US-China tensions over Hong Kong
  • IT, banking and auto led the losers
  • Sensex fell 336 points to 40,793 todayPremium
    Sensex fell 336 points to 40,793 today

    Indian markets struggled fell today, tracking a decline in most other markets amid US-China tensions over Hong Kong. The Sensex ended 336 points lower at 40,793 while Nifty settled 0.78% lower at 12,056. However, the broader markets showed some strength. The BSE midcap and smallcap indices ended 0.16% and 0.47% higher.

    Some profit-taking was seen in banking and auto after their recent gains. SBI, Tata Motors and M&M fell over 2%. Market heavyweights TCS, RIL and HUL also ended lower, falling 1.2%, 1.8% and 2.4% respectively.

    The second quarter GDP data will be announced later today. India's economy probably expanded at its weakest pace in more than six years in the quarter to September, a Reuters poll showed, as consumer demand and private investment weakened further and a global slowdown hit exports.

    Indian markets have been on a record-breaking rally this month amid increasing global liquidity, benign oil prices and expectations of more measures by the government to boost economic growth. Analysts says that RBI is also expected to maintain its accommodative stance until the economy enters into a revival path.

    "Since quarterly results are already out and discounted for September quarter, today's GDP number may not impact the markets much. Earlier resistance of 12,000 mark is now an immediate floor for Nifty. On the higher side resistance is seen in the vicinity of 12,300-12,400," HDFC Securities said in a note.

    Most global markets were lower today as investors awaited progress on China-US trade talks. US President Donald Trump's decision to sign a bill in support of pro-democracy protesters in Hong Kong sparked warnings of retaliation from Beijing and fuelled fears for negotiations on a mini trade deal. (With Agency Inputs)

    Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

    Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
    More Less
    Published: 29 Nov 2019, 09:20 AM IST
    Next Story footLogo
    Recommended For You
    GENIE RECOMMENDS

    Get the best recommendations on Stocks, Mutual Funds and more based on your Risk profile!

    Let’s get started
    Switch to the Mint app for fast and personalized news - Get App

    Chat with MintGenie