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Market Wrap, Dec 16: Sensex snaps 3-day gaining streak, down 71 pts

Among the key sectoral indices on the National Stock Exchange, Nifty Metal index closed 1.3 per cent lower, while Nifty IT index settled 1.02 per cent higher

BS Web Team  |  New Delhi 

Indian equity indices ended a lackluster trade off day's low on Monday, as investors booked profit post stellar gains seen on Friday. The benchmark S&P BSE Sensex settled 71 points, or 0.17 per cent, lower at 40,938.72 level. The losses seen at metal and FMCG counters were trimmed by gains in the information technology (IT) stocks.

Among the 30-share index pack, Tata Consultancy Services (TCS), Tech Mahindra, HCL Technologies, and HDFC were the top gainers, up between 1 and 1.7 per cent. On the downside, ITC, Tata Steel, Hindustan Unilever, and Vedanta dragged up to 1.5 per cent lower.

On the NSE, the broader Nifty50 index held the 12,000-mark, at 12,053.95 level, down 33 points or 0.27 per cent.

Among the key sectoral indices on the National Stock Exchange, Nifty Metal index closed 1.3 per cent lower, while Nifty IT index settled 1.02 per cent higher.

In the broader markets, the mid-caps took deeper cut. The S&P BSE mid-cap index declined 0.46 per cent, while the S&P BSE small-cap index was down 0.20 per cent.

BUZZING STOCKS

Nifty Bank index hit a record high of 32,186.95 in the opening deals on the National Stock Exchange (NSE) on expectations that ArcelorMittal could complete payment worth Rs 42,000-crore in the Essar Steel case to the lenders. For the world’s largest steel maker, the timeline of one month for the full payment ends on Monday. At close, the Nifty Bank index was at 31,997.20 level, down 0.08 per cent.

Shares of Sun Pharma cracked as much as 2.84 per cent to Rs 426.50 apiece on the BSE on Monday after the company informed that the US FDA has issued a Form 483, with eight observations for its Halol (Gujarat) facility. The inspection was conducted from December 03-13, 2019, the company said in its regulatory filing. The stock eventually settled 0.9 per cent lower at Rs 434.70 level.

GLOBAL CUES

Asian shares hit their highest in nearly eight months on Monday after the United States and China agreed on a preliminary trade deal, with Australian shares leading the way on expectations of more easing of monetary policy there.

Positive sentiment helped push the MSCI’s broadest index of Asia-Pacific shares outside Japan to its highest level since April 18. It was last up 0.25 per cent. Australia’s S&P/ASX 200 led the way as it jumped 1.63 per cent, while shares in Taiwan added 0.22 per cent.

European shares hit an all-time high on Monday with the pan-European STOXX 600 index advancing 0.89 per cent to 415.68 points, surpassing the previous life-high made in April 2015.

First Published: Mon, December 16 2019. 16:39 IST
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