Sensex dips for 4th straight session; ₹2.75 lakh cr wiped off — 10 key highlights from the Indian stock market today

Stock market today: The Indian benchmark indices stepped further back from their all-time highs hit in trade earlier this week amid a fourth straight day of fall on Wednesday, December 3.

After languishing for the majority of the trade, the indices witnessed some fag-end buying, but it failed to pull the indices into the green. Eking out a 31-point or 0.04% loss, the Sensex today ended at 85,107. At the same time, Nifty 50 settled 46 points or 0.18% lower at 25,986.

The broader market selloff was sharper as the BSE Midcap index lost 0.95% and the BSE Smallcap index shed 0.43%.

As a result, the overall market capitalisation of BSE-listed stocks fell by ₹2.76 lakh crore to ₹469.69 lakh crore.

10 key highlights from stock market

Here are the 10 key highlights from the Indian stock market for investors today:

1. Why did indices fall today?

Indian equities continued to consolidate as the rupee slid to a record low, weighed down by FII outflows and ongoing trade uncertainties, said Vinod Nair, Head of Research, Geojit Investments.

"Global markets were mixed as investors are assessing ahead the Fed & ECB monetary policy and currency volatility, while sentiment remained cautious after a jump in Japanese bond yields on expectations of BOJ tightening and increased government spending. The RBI’s policy decision this week will be crucial, especially for banks, as rate cut probability has reduced post the strong Q2 GDP data," Nair added.

2. Worst Nifty 50 losers

Thirty-seven of Nifty 50 stocks closed lower today. Max Health was the worst-performing index stock today, with a 2.9% decline. BEL, Adani Enterprises and Tata Consumer also shed over 2% each. Meanwhile, Shriram Finance and M&M were down around 1.8%.

3. Best Nifty performers

IT and bank stocks emerged as the best index gainers. Wipro led with a 1.61% rise. It was followed by Hindalco (1.46%), TCS (1.41%), ICICI Bank (1.38%) and HDFC Bank (1.04%).

4. Sectoral watch

Among the 12 major sectoral indices, six ended higher. IT was the best performer amid a fall in the Indian rupee, rising 0.76%. Meanwhile, Nifty Auto emerged as the worst loser with 1.20% decline.

5. Most active stocks

Vodafone Idea remained the most-active stock on NSE today as 117.61 crore shares of the telecom company changed hands on the NSE. Easy Trip Planners, SPARC, Bank of Maharashtra and YES Bank were among the most traded stocks with 10-12 crore shares changing hands for each of these companies.

6. Three stocks rally 10% or more

Three stocks on the NSE witnessed an over 10% rally in trade today. Hikal led as it surged 13.6%. Meanwhile, On Mobile and Midwest Limited jumped 10.64% and 10%, respectively.

7. Three stocks tank over 10%

Indowind Energy RE lost the most at 18.5%. Meanwhile, Adani Enterprises RE shares tanked 11.95%. Additionally, Patel Retail witnessed a 10.8% decline.

8. 228 stocks hit 52-week lows

While 28 stocks rose to 52-week highs, another 228 stocks slumped to 52-week lows. Awfis, Delta Corp, Dhan Laxmi Bank, Glottis, HG Infra, IREDA, Ola Electric, NDTV, Page Industries, Quess Corp and SJVN were some of the prominent names that touched one-year lows today.

9. Advance-decline ratio

The advance-decline ratio favoured sellers as it stood at 1:2. On NSE today, 1052 stocks advanced, and 2074 stocks declined.

10. Nifty outlook: Tech view

From a technical perspective, the Nifty now holds immediate support in the 25,800–25,850 range and the resistance is expected around 26,100–26,150, where selling pressure may re-emerge unless a strong recovery builds, said Hitesh Tailor, Research Analyst, Choice Equity Broking Private Limited.

"Volatility stayed subdued, with India VIX remaining low, indicating that despite the decline, the market is still in a consolidation phase rather than entering a high-volatility correction," he said.

A decisive move above resistance levels will be essential to revive bullish momentum, as per the analyst.

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.