Stock Market Highlights: Sensex, Nifty snap 5-day winning run post RBI policy; Auto shares gain
Markets Highlights: Broader markets outperformed the benchmarks indices on Friday after the RBI left key rates unchanged and announced a 50 bps cut in CRR, while lowering its GDP forecast
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Stock Market Highlights, Friday, December 6, 2024: The Benchmark equity indices gave up their 5-day winning streak to settle in red after the Governor Shaktikanta Das-led Monetary Policy Committee of the Reserve Bank of India (RBI MPC) kept its key interest rate unchanged at 6.5 per cent on Friday, but lowered the economic growth forecast to 6.6 per cent for FY25 from the earlier projection of 7.2 per cent. It cut the cash reserve ratio (CRR) that banks are required to hold, effectively easing monetary conditions as economic growth slows.
30- share Sensex settled lower by merely 56.74 points or 0.07 per cent at 81,709.12, trading in the range of 81,925.91 - 81,506.19, on Friday.
The NSE Nifty50 ended at 24,677.80, up 30.60 points or 0.12 per cent. Nifty50 hit a day's high of 24,751.05 during intra-day trade, while the day's low was seen at 24,620.50.
32 out of 50 constituent stocks ended in the red, dragged by Adani Ports, Cipla, Bharti Airtel, HDFC Life, and IndusInd Bank with losses extending up to 1.51 per cent. On the other hand, Tata Motors, Bajaj Auto, Axis Bank, BPCL, and Dr Reddy's Labs were among the 18 constituent stocks of the Nifty50 that ended in the green, with gains extending up to 3.21 per cent.
Broader markets outperformed the benchmarks, with the Nifty Midcap100 and Nifty Smallcap100 indices ending higher by 0.45 per cent and 0.82 per cent, respectively.
Among the sectoral indices, Auto, FMCG, Metal, PSU Bank, Consumer Durables, OMC, Sector Healthcare, and Financials ended in the green, while the remaining others settled lower.
Notably, Auto stocks eked out gains fueled by the news that Hyundai, and Maruti will announce a price hike from January 1, 2025, onwards.
3:52 PM
Expert Comments:: Overall market exhibited a mixed outlook
"Though benchmark indices concluded on a flattish trend, Indian broader indices displayed optimism as the RBI acknowledged the downward growth trend while last-mile inflation persisted. By lowering the CRR and injecting ₹1.16 lakh crore into the financial system, the RBI aims to stimulate economic growth amid increased liquidity. The overall market exhibited a mixed outlook, reflecting a cautious yet resilient stance, with sector rotation and specific stock movements shaping market sentiment."
- Views expressed by Vinod Nair, Head of Research, Geojit Financial Services
- Views expressed by Vinod Nair, Head of Research, Geojit Financial Services
3:51 PM
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3:49 PM
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3:47 PM
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3:42 PM
Stock Market Highlights: Auto shares top movers among Sensex 30; Adani Ports, Airtel slip
3:36 PM
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3:34 PM
Stock Market Highlights: BSE Sensex snaps 5-day winning run, ends 57 pts lower at 81,709
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First Published: Dec 06 2024 | 8:14 AM IST