Sensex Today: Indian benchmark indices ended lower on December 9 with Nifty around 18,500. The S&P BSE Sensex, which started about 100 points higher, erased gains and dropped over 700 points from the day’s high to hit a low of 61,889.
The index, eventually, closed at 62,182, down 389 points or 0.62 per cent. The Nifty50, meanwhile, breached below the 18,500-mark and ended at 18,497, down 113 points or 0.61 per cent. It hit a low of 18,410 during the day.
In the broader markets, the MidCap and SmallCap indices shed 0.45 per cent and 1 per cent, respectively.
Sectorally, defensive indices like the Nifty FMCG and Pharma held gains as they rose 0.8 per cent and 0.4 per cent. On the downside, the Nifty IT index crashed 3.16 per cent. Credit Suisse has warned of a 10 – 27 per cent valuation-led correction in tech-related stocks amid US macro headwinds.
The Nifty PSU Bank and Realty indices were other top laggards which tumbled 1.7 per cent and 1.5 per cent, respectively.
Rupee Close:
Indian rupee closed 16 paise higher at 82.27 per dollar against previous close of 82.43.
Global Cues
In the US, markets gained overnight following a slight uptick in initial weekly jobless claims. The S&P gained 0.75 per cent, the Dow 0.55 per cent and the Nasdaq Composite jumped 1.13 per cent.
This morning in Asia, most indices were trading higher with Nikkei rising over 1 per cent, Strait times and Kospi inching up to 0.5 per cent.
Hang Seng index pared some gains after China reported in-line inflation data for November. The consumer price index rose 1.6 per cent YoY, matching the estimates.
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