MUMBAI, Dec 9: Indian stock markets fell for the second consecutive day on Tuesday as investors booked profits ahead of the US Federal Reserve’s policy decision.
The BSE Sensex dropped 436.41 points, or 0.51%, to close at 84,666.28, a nearly two-week low, while it had touched an intraday low of 84,382.96, down 719.73 points.
The NSE Nifty lost 120.90 points, or 0.47%, settling at 25,839.65, with a session low of 25,728.
Weak global cues, persistent foreign fund outflows, the rupee sliding past 90 to the dollar, and concerns over the US-India trade deal weighed on investor sentiment.
Among Sensex constituents, major laggards included Asian Paints, Tech Mahindra, HCL Technologies, Tata Steel, Maruti Suzuki, Sun Pharma, TCS, ICICI Bank, Bajaj Finance, UltraTech Cement, Mahindra & Mahindra, and Tata Motors. Gain-makers included Eternal, Titan, Adani Ports, Bharat Electronics, SBI, Bajaj Finserv, NTPC, and Bharti Airtel.
Sector-wise, IT, tech, auto, metal, and consumer durables fell, while capital goods, power, industrials, telecom, FMCG, utilities, and consumer discretionary gained. Broader markets saw BSE midcap and smallcap indices rise 0.60% and 1.27%, respectively, with 2,550 stocks advancing, 1,625 declining, and 156 unchanged.
Global markets were mixed.
Japan’s Nikkei 225 ended higher, while Hong Kong’s Hang Seng, Shanghai’s SSE Composite, and South Korea’s KOSPI closed lower.
European markets traded higher, and Wall Street fell overnight.
Rising Japanese bond yields and expectations of monetary tightening by the Bank of Japan added to global investor caution.
Brent crude dropped 0.27% to USD 62.33 per barrel.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 655.59 crore on Monday, while Domestic Institutional Investors (DIIs) bought stocks worth Rs 2,542.49 crore.
Analysts said market direction will be influenced by global central bank cues, currency movements, and FII flows, while India’s domestic macroeconomic resilience could cushion downside risks.
IT and blue-chip stocks led losses amid profit-taking, but midcap and smallcap gains showed selective buying.
Investors awaited the Fed’s policy decision, which could set the tone for global markets and shape Indian equities in the near term. (PTI)
