Markets slips from day highs; Nifty closes below 20,950 top gainers on December 12 include HDFC Life Insurance, UltraTech Cement, Bajaj Auto whereas Realty and Auto stocks among key losers
时间:2024-06-29 02:52:00 阅读(143)
The benchmark equity indices ended Monday’s trading session in the negative territory. The NSE Nifty 50 dipped 90.70 points or 0.43% to settle at 20,906.40, while the BSE Sensex dropped 377.50 points or 0.54% to 69,551.03. Bank Nifty index ended lower by 216.70 points or 0.46% to settle at 47,097.55.
The broader indices ended in negative territory, with fall led by Largecap and Midcap stocks. Media and Metal stocks outperformed among the other sectoral indices while Realty and Auto stocks shed.
The Indian Volatility Index (India VIX) closed down by 0.35 %.
“Following the recent impressive surge, the Nifty50 has undergone a consolidation phase today due to anticipated elevated November inflation in India, driven by rising food prices, which may potentially delay RBI policy cuts. In contrast, the US inflation outlook remains stable, which could influence the upcoming US Fed policy,” said Vinod Nair, Head of Research at Geojit Financial Services
Nair also said that, The Nifty Mid and Small indices, with robust rallies of 42% and 49% on a YTD basis, now carry a 25% premium to their long-term averages, signalling potential valuation concerns. Though the domestic growth outlook remains strong, the risk of EL-Nino is expected to keep the market under pressure.
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