Sensex Falls 533 Points, Nifty Slips 0.64% as Banks and Metals Drag

Market Update at 3:55 PM: Indian equity benchmark indices ended lower on Tuesday, tracking weak global cues and sustained selling pressure in metal, realty and financial stocks. Investor sentiment remained cautious throughout the session, leading to broad-based losses across frontline and broader market indices.

At the close of trade around 3:30 PM, the BSE Sensex settled at 84,679.86, declining 533.50 points or 0.63 per cent. The NSE Nifty50 also finished lower at 25,860.10, down 167.20 points or 0.64 per cent.

Among Sensex constituents, Axis Bank and Eternal emerged as the top laggards, sliding up to 5 per cent. HCL Technologies, Tata Steel, Bajaj Finserv, UltraTech Cement, Bajaj Finance and NTPC also closed over 1 per cent lower, adding to the market’s weakness.

On the positive side, Titan and Bharti Airtel gained over 1 per cent each. Mahindra & Mahindra, Asian Paints and Trent also managed to end the session in the green, offering limited support to the indices.

The broader market mirrored the weakness seen in frontline stocks. The Nifty MidCap 100 index declined 0.83 per cent, while the Nifty SmallCap index slipped 0.92 per cent by the end of the session.

Sector-wise, Nifty Realty and Nifty Private Bank indices fell over 1 per cent each. PSU Bank stocks declined 0.89 per cent, while Nifty IT was down 0.84 per cent. In contrast, Nifty Consumer Durables and Nifty Media were the only sectors that managed to close higher.

In individual stocks, recently listed Meesho surged 13 per cent to Rs 193.50 during intra-day trade. The stock is now trading at a 74 per cent premium over its IPO price.

Meanwhile, the Indian rupee weakened further, hitting a fresh all-time low of 91.01 against the USD during the day.

Market Update at 12:25 PM: Indian equity benchmark indices traded with a negative bias on Tuesday, weighed down by selling pressure in metal and financial stocks. Weak broader market sentiment also added to the downside.

At 12 PM, the BSE Sensex stood at 84,715.15, down 498.21 points or 0.58 per cent. The NSE Nifty50 was trading at 25,882.6, lower by 144.7 points or 0.56 per cent.

Among Sensex 30 constituents, Axis Bank and Eternal emerged as the Top Losers, falling up to 4 per cent. Other heavyweights such as Tata Steel, Bharat Electronics, HCL Technologies, Infosys, Sun Pharma, Bajaj Finserv and Reliance Industries declined by more than 1 per cent each. On the positive side, Titan and Bharti Airtel gained around 1 per cent each, offering limited support to the indices.

The broader market also remained under pressure. The Nifty MidCap 100 index declined 0.81 per cent, while the Nifty SmallCap index was down 0.7 per cent, indicating continued risk-off sentiment beyond frontline stocks.

On the sectoral front, Nifty Metal, Nifty Realty and Nifty Private Bank indices fell over 1 per cent each, reflecting sustained weakness in cyclical and rate-sensitive sectors.

In contrast, recently listed Meesho witnessed strong buying interest, surging 13 per cent to Rs 193.50 during intra-day trade. The stock is now trading at a premium of 74 per cent over its IPO price.

Sectorally, the Nifty Auto index was the worst performer, falling 1.07 per cent. This was followed by losses in the Nifty Realty index, down 0.75 per cent, and the Nifty Pharma index, which declined up to 0.65 per cent.

Overall, weak global market sentiment and USD-related concerns continued to cap upside in Indian equities, keeping benchmarks under pressure despite selective buying in a few stocks.

Market Update at 10:20 AM: India’s equity benchmarks opened marginally lower on Tuesday as investors remained cautious amid sustained foreign fund outflows, a weakening rupee against the USD, and the absence of clarity on an India–U.S. trade deal.

The Nifty 50 declined 0.29 per cent to 25,951.5, while the BSE Sensex slipped 0.22 per cent to 85,025.61 as of 9:15 a.m. IST. Sentiment was further pressured after the rupee touched a fresh all-time low against the USD, extending its recent depreciation.

Sectoral performance was broadly negative, with all 16 major sectors opening in the red, though losses were limited. The Small-Cap index fell 0.2 per cent, while the Mid-Cap index edged lower by 0.1 per cent, indicating muted selling pressure across the broader market.

The benchmark indices have remained range-bound over the past two weeks after scaling record highs on December 1. The lack of fresh domestic or global triggers, coupled with continued uncertainty surrounding a potential India–U.S. trade agreement, has kept investors on the sidelines.

Pre-Market Update at 7:40 AM: Indian equity benchmarks, the Sensex and Nifty 50, are likely to begin Tuesday, December 16, on a muted note, tracking broadly negative cues from global markets. Asian equities were mostly lower after U.S. stocks closed in the red overnight, as investors remained cautious ahead of key U.S. economic data that could influence the interest rate outlook.

Early indicators pointed to a flat start for domestic markets. The GIFT Nifty was trading near the 26,086 level, at a discount of around 8.2 points, suggesting limited upside momentum at the open.

Asian markets slipped modestly in early trade as risk appetite weakened ahead of important U.S. macroeconomic releases. Japanese indices traded lower, while Australian stocks edged up slightly. The cautious tone followed a second consecutive decline in U.S. equities. Meanwhile, stock-index futures for the S&P 500 and Nasdaq 100 also moved lower during early Asian hours on Tuesday.

India and the United States are close to finalising a framework trade agreement aimed at easing reciprocal and punitive duties on Indian exports, Commerce Secretary Rajesh Agrawal said on Monday. Although no specific timeline was shared, he highlighted that negotiations are progressing at a fast pace and in a constructive manner.

Currently, Indian exports to the U.S. face cumulative additional tariffs of up to 50 per cent. Momentum toward a potential agreement picked up last week after a U.S. delegation, led by Deputy Trade Representative Rick Switzer, visited India for discussions held on December 10 and 11.

Foreign Institutional Investors continued to exert pressure on the markets. On Monday, December 15, FIIs were net sellers, offloading equities worth Rs 1,468.32 crore. In contrast, Domestic Institutional Investors remained supportive, buying equities worth Rs 1,792.25 crore and extending their streak to the 37th consecutive session of net inflows.

Indian equity benchmarks ended marginally lower on Monday, snapping a two-day winning streak. The markets opened with a gap-down start but recovered most of the losses as the session progressed, reflecting cautious sentiment amid sustained FII selling and uncertainty surrounding the India–U.S. trade talks.

At the close, the Nifty 50 slipped 19.65 points, or 0.08 per cent, to 26,027.30, while the Sensex declined 54.30 points, or 0.06 per cent, to 85,213.36. India VIX rose 1.41 per cent, signalling a rise in market volatility.

On the sectoral front, six of the eleven major indices ended higher. Nifty Media was the top performer, rising 1.79 per cent and logging its strongest Intraday gains in over two months. Nifty Auto fell 0.91 per cent, snapping a two-day rally. Broader markets were mixed, with the Nifty Midcap 100 down 0.12 per cent, while the Nifty Smallcap 100 gained 0.21 per cent.

U.S. equities closed lower on Monday as sustained selling in technology stocks dragged major indices into negative territory. Investors remained cautious ahead of a packed schedule of economic data releases.

The S&P 500 erased early gains to end about 0.2 per cent lower, marking its second straight decline. The Nasdaq 100 slid 0.5 per cent, extending losses for a third consecutive session. The Dow Jones Industrial Average slipped 41.49 points, or 0.09 per cent, to close at 48,416.56. The S&P 500 ended down 10.90 points at 6,816.51, while the Nasdaq Composite fell 137.76 points, or 0.59 per cent, to 23,057.41.

Technology stocks led the decline, with Broadcom Inc. recording its steepest three-day fall since 2020. Oracle Corp. also extended its losing streak, with recent losses nearing 17 per cent. U.S. equity futures were largely flat in early Asian trade, indicating a cautious global mood.

The U.S. dollar weakened to near a two-month low during early Asian trading on Tuesday as investors awaited a slew of economic data, including the delayed November U.S. jobs report. The dollar index slipped 0.2 per cent to 98.261, approaching its lowest level since October 17.

Gold prices were steady in early Asian trade ahead of the U.S. November employment report. Spot gold was little changed at USD 4,306.60 per ounce. Silver declined 0.32 per cent to USD 63.90 after a sharp rise in the previous session.

Crude oil prices remained under pressure. Brent crude futures hovered around USD 60.3 per barrel, while WTI crude traded near USD 56.6 per barrel, marking the lowest levels since early 2021. Prices were weighed down by expectations of a global supply glut and optimism surrounding a potential peace deal between Russia and Ukraine.

For today, Bandhan Bank will remain on the F&O ban list.

Disclaimer: The article is for informational purposes only and not investment advice.