Stock market benchmark indices Sensex and Nifty started on a positive note on Thursday, but soon lost early gains and started trading in negative territory amid weak trends in Asian markets and continued foreign fund outflows. The 30-share BSE Sensex opened with gains and rose 149.3 points or 0.17 per cent to 84,540.57. The 50-share NSE Nifty also rose 45.05 points to 25,803.05. The rupee fell 5 paise to 89.99 against the US dollar in early trade.
However, both the major indices lost their gains as selling pressure increased, with Sensex falling 222.39 points or 0.26 per cent to 84,168.88 and Nifty falling 50.90 points to 25,707.10.
Condition of Sensex companies
Titan, PowerGrid, HCL Technologies, Bharti Airtel, Asian Paints, Reliance Industries, Tata Consultancy Services, Tech Mahindra, ICICI Bank, Trent, Tech Mahindra, Axis Bank, Bajaj Finserv and ITC were among the Sensex laggards. On the other hand, Eternal, Tata Steel, Maruti Suzuki India, Kotak Mahindra Bank, Adani Ports, Bharat Electronics Ltd, Larsen & Toubro, Infosys and UltraTech Cement were among the gainers.
Decline seen in Asian markets
In Asian markets, Japan’s Nikkei 225 benchmark, Shanghai’s SSE Composite, Hong Kong’s Hang Seng and South Korea’s Kospi were trading lower.
Wall Street sees rise due to Fed decisions
Wall Street witnessed a rise in overnight trade on Wednesday after the Federal Reserve cut the federal funds rate by 25 basis points to a range of 3.5-3.75 per cent at its December meeting. However, policymakers kept their projections for the federal funds rate unchanged from September, indicating a cut of only 25 basis points in 2026.
The price of Brent crude increased to US $ 62.23 per barrel.
Global oil benchmark Brent crude rose 0.03 percent to US$62.23 per barrel. Meanwhile, according to exchange data, foreign institutional investors (FIIs) made a net sale of shares worth Rs 1,651.06 crore on Wednesday, while domestic institutional investors (DIIs) bought shares worth Rs 3,752.31 crore. On Wednesday, the 30-share BSE Sensex closed 275.01 points lower at 84,391.27, while the broader NSE Nifty fell 81.65 points to close at a one-month low of 25,758.
