Stock Market Highlights: Nifty 50 closes at three week low as indices extend losses

3 weeks ago

HomeMarket NewsStock Market Highlights: Nifty 50 closes at three week low as indices extend losses

Profile image

By CNBCTV18.COM Dec 18, 2024 3:45 PM IST (Updated)

Sensex Today | Stock Market Highlights: The Nifty fell 137 points to settle at 24,199, marking its lowest close in three weeks, though it managed to stay above Friday’s low of 24,181. The Sensex dropped 502 points to end at 80,182.

 Nifty 50 closes at three week low as indices extend losses

Sensex Today | Stock Market Highlights: The Indian equity markets witnessed a decline on Tuesday, extending losses for the second consecutive session. Financial stocks led the decline, with HDFC Bank and ICICI Bank exerting pressure on the Nifty. The Nifty Bank index shed 695 points to close at 52,140. Meanwhile, the Midcap index fell 379 points to 58,723.

Pharma stocks bucked the negative trend ahead of the US Federal Reserve’s meeting. Top gainers included Dr Reddy’s Laboratories (DRL), Cipla, and Aurobindo Pharma. ITC also ended positively after announcing January 6 as the record date for its demerger plan.

Tata Motors was the biggest loser on the Nifty, declining 3% amid a weak trading session. Conversely, Trent defied the broader market sentiment, rising 2% on the back of robust trading volumes. NMDC saw a 6% decline following reports of Karnataka’s government raising the iron ore duty. Va Tech Wabag slipped 11% after one of its orders in Saudi Arabia was reportedly cancelled.

Kfin Technologies gained 2% after Jefferies raised its price target to ₹1,530 per share. Tilaknagar Industries also rose 2%. Ambuja Cement ended flat, while Sanghi Industries plunged 12% after announcing a merger deal, which failed to inspire investor confidence.

Read Full Article at Source