Mumbai, December 3: Indian stock markets closed flat during Wednesday’s trading session. At the end of trading, the Sensex closed at 85,106.81 with a marginal decline of 31.46 points, while the Nifty ended at 25,986, down 46.20 points or 0.18 percent.
IT and financial shares helped support the market. Among sectoral indices, Nifty IT closed with gains of 0.74 percent, Nifty Bank rose 0.13 percent, and Nifty Financial Services gained 0.23 percent. Additionally, pharma, media, and services indices also closed in green territory.
On the other hand, auto, PSU bank, FMCG, metal, realty, infra, and commodities sectors closed in the red.
Midcap and smallcap segments witnessed sharper declines compared to largecaps. The Nifty Midcap 100 index fell 594.80 points or 0.98 percent to close at 60,315.65, while the Nifty Smallcap 100 index declined 127 points or 0.71 percent to settle at 17,649.45.
Among Sensex constituents, TCS, ICICI Bank, Infosys, HDFC Bank, Axis Bank, Sun Pharma, Tech Mahindra, Power Grid, HCL Tech, and Kotak Mahindra were the gainers. Trent, Titan, M&M, NTPC, SBI, Bajaj Finserv, L&T, Maruti Suzuki, HUL, and others were among the losers.
Market experts said Indian stock markets closed in red due to the continuous decline in the rupee. As the rupee has reached its lowest level ever against the dollar, foreign investors are booking profits as their returns are getting reduced.
The rupee has been declining against the dollar for several sessions and has already slipped below the 90 level.
Indian stock markets had opened in negative territory. At 9:31 AM, the Sensex was trading at 84,969.61 level after declining 168.66 points or 0.20 percent. The Nifty was at 25,965.85 level after falling 66.35 points or 0.25 percent.
My name is Bhupendra Singh Chundawat. I am an experienced content writer with several years of expertise in the field. Currently, I contribute to Daily Kiran, creating engaging and informative content across a variety of categories including technology, health, travel, education, and automobiles. My goal is to deliver accurate, insightful, and captivating information through my words to help readers stay informed and empowered.
