Sensex falls 400 points, Nifty 50 ends below 25,850— 10 key highlights from the Indian stock market today

Stock market benchmarks, the Sensex and the Nifty 50, extended losses for the second consecutive session on Tuesday, December 9, amid weak global cues ahead of the US Fed policy outcome.

The Sensex closed 436 points, or 0.51%, lower at 84,666.28, while the Nifty 50 ended the day with a loss of 121 points, or 0.47%, at 25,839.65. The mid and small-cap segments, however, erased losses and ended higher, outperforming the benchmarks. The BSE Midcap index ended 0.60% higher, while the Smallcap index jumped 1.27%.

Thanks to gains in the mid and small-cap segments, the overall market capitalisation of BSE-listed firms rose to ₹465 lakh crore from ₹464.2 lakh crore in the previous session, making investors richer by about ₹1 lakh crore in a single session.

Indian stock market: 10 key highlights from the day

1. What is driving the market down?

Caution ahead of the US Fed policy decision, the weakness of the Indian rupee, relentless FII selling, and persisting uncertainty over a potential India-US trade deal are keeping market sentiment down.

Experts expect market volatility to continue till the December quarter earnings start showing improvement and a deal between India and the US is announced.

"Domestic equities opened lower, extending profit booking amid caution ahead of tomorrow’s US Fed policy decision, rupee weakness, persistent FII outflows, and ongoing uncertainty over the US–India trade deal," Vinod Nair, Head of Research, Geojit Investments Limited, noted.

2. Top gainers in the Nifty 50 index

Shares of Eternal (up 2.28%), Titan Company (up 1.94%), and Adani Enterprises (up 1.53%) ended as the top gainers in the Nifty index.

3. Top losers in the Nifty 50 index

Shares of Asian Paints (down 4.60%), Tech Mahindra (down 1.90%), and HCL Technologies (down 1.82%) ended as the top losers in the index. As many as 33 stocks ended lower in the Nifty pack.

4. Sectoral indices today

While most sectoral indices ended with losses, Nifty Consumer Durables (up 1.31 %), PSU Bank (up 1.29%), Realty (up 0.95%), and Media (up 0.70%) clocked significant gains.

Among the losers, Nifty IT (down 1.19%), Auto (down 0.72%), and Financial Services (down 0.50%) lost the most.

Nifty Bank ended with a nominal loss of 0.03% at 59,222.35 .

5. Most active stocks in terms of volume

Vodafone Idea (89 crore shares), Filatex Fashions (11.94 crore shares), and Tata Teleservices (Maharashtra) (11.52 crore shares) were the most active stocks in terms of volume on the NSE.

6. 10 stocks jump more than 15% on BSE

Tata Teleservices (Maharashtra), Blue Cloud Softech Solutions, Ashima, and Advent Hotels International were among the 10 stocks that surged more than 15% on the BSE.

7. Advance-decline ratio

Out of 4,331 stocks traded on the BSE, 2,619 advanced, while 1,554 declined. Some 158 stocks remained unchanged.

8. Nearly 70 stocks hit 52-week highs

Some 67 stocks, including Aditya Birla Capital, Anupam Rasayan India, AU Small Finance Bank, and Federal Bank, hit their 52-week highs in intraday trade on the BSE.

9. Over 500 stocks hit 52-week lows

ACC, Bajaj Housing Finance, IREDA, Page Industries, PFC, REC, Trent, and UBL were among the 512 stocks that fell to their 52-week lows on the BSE on Tuesday.

10. Nifty's technical outlook

According to Shrikant Chouhan, the head of equity research at Kotak Securities, the current market texture is weak but oversold; hence, we could see an extension of the pullback rally in the near future.

"For day traders, 25,750 would act as a key support zone. As long as the market is trading above this level, the pullback formation is likely to continue. On the higher side, 25,950 and 26,000 would be immediate resistance areas for the bulls. On the flip side, below 25,750, the selling pressure is likely to accelerate, and the market could retest the level of 25,650," said Chouhan.

Sudeep Shah, Head - Technical and Derivatives Research at SBI Securities, said the zone of 25,730-25,700 will act as important support, while 25,950-26,000 will act as a crucial hurdle for the Nifty 50.

"If the index slips below 25,700, it could trigger a deeper correction. Any sustainable move above the 26,000 will lead to an upside rally up to the 26,150 level," said Shah.

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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.