Stock Market LIVE News Update: Good Morning! The Indian equity market are likely to open on a tepid note amid weak global cues on the weekly F&O expiry day. SGX Nifty hinted at a flat to negative start for domestic equities as Nifty futures traded lower at the 18,665 level on the Singapore Exchange.
In the previous session, the Indian equity market continued to remain under pressure for the fourth straight session on December 7 after the Reserve Bank of India raised the interest rates for the fifth consecutive time in this calendar year, continuing its fight against inflation.
At close, the Sensex was down 215.68 points, or 0.34 per cent, at 62,410.68, and the Nifty was down 82.30 points, or 0.44 percent, at 18,560.50.
Earlier in the day, the RBI’s monetary policy committee hiked the key repo rate by 35 bps as expected to 6.25 percent and maintained the stance at “withdrawal of accommodation”.
The market started on a cautious note ahead of the meeting and slipped into negative terrain after the policy announcement to remain rangebound through the session. Last-hour selling pushed the indices to near the day’s low.
NTPC, Bajaj Finserv, Tata Motors, SBI Life Insurance and IndusInd Bank were among the top Nifty losers. The gainers included Asian Paints, BPCL, HUL, Larsen and Toubro and Axis Bank.
Among sectors, except Nifty FMCG and PSU bank all indices ended in the red. The energy index was down a percent, while auto, information technology, metal and pharma indices were down 0.5 percent each.
BSE midcap and smallcap indices fell 0.4 percent each.
On the BSE, power, metal and realty indices were down a percent each. Auto, healthcare and information technology indices each ended 0.5 percent lower. Capital goods and FMCG indices added 0.8 percent each.
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