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The Indian stock market benchmarks- the Sensex and the Nifty 50- ended in the negative territory for the third consecutive session on Wednesday, December 17, on persisting concerns over the rupee's weakness, foreign capital outflow and the delayed India-US trade deal. The Sensex closed with a loss of 120 points, or 0.14%, at 84,559.65, while the Nifty 50 ended at 25,818.55, down 42 points, or 0.16%. The fall was deeper in the mid and small-cap segments; the BSE Midcap index ended 0.53% lower, while the Smallcap index fell 0.85%. The across-the-board decline dragged the overall market capitalisation of BSE-listed firms to ₹466 lakh crore from ₹467.64 lakh crore in the previous session, making investors lose ₹1.6 lakh crore in a single session.

The domestic market is struggling to come out of the negative territory on the rupee's weakness and heavy foreign capital outflow amid persisting uncertainty over an India-US trade deal.

At this juncture, the domestic market lacks fresh triggers to outweigh these headwinds. The stock market volatility may persist until the December quarter earnings start showing a healthy rebound and an India-US trade deal is announced.

"Foreign investors are pulling out funds, and emerging markets are struggling, while developed economies remain strong, showing that investors are becoming more cautious about emerging markets, Vinod Nair, Head of Research, Geojit Investments, noted.

"Although currency stability offers temporary relief, global uncertainty and sustained foreign selling keep upside potential limited, leaving markets skewed toward a bearish bias," said Nair.

Some 24 stocks ended higher in the Nifty 50 index, while 26 declined.

Shriram Finance (up 2.07%), State Bank of India (up 1.58%), and Hindalco Industries (up 1.30%) ended as the top gainers in the index.

Max Healthcare Institute (down 3.71%), Apollo Hospitals Enterprise (down 1.98%), and Trent (down 1.66%) ended as the top losers in the index.

Nifty PSU Bank jumped 1.29%, bucking the trend. Nifty IT (up 0.29%), Metal (up 0.25%), and Oil and Gas (up 0.23%) also ended higher.

On the flip side, Media (down 1.71 %), Consumer Durables (down 0.96%), Realty (down 0.84%), and FMCG (down 0.47%) closed with significant losses.

Nifty Bank slipped 0.18% while the Financial Services index fell 0.49%.

Vodafone Idea (62.7 crore shares), Meesho (18.1 crore shares), and Ola Electric Mobility (14.9 crore shares) were the most active stocks in terms of volume on the NSE.

Meesho, TCI Finance, Shish Industries, Transwarranty Finance, and Apex Frozen Foods were among the 12 stocks that surged more than 15% on the BSE despite weak stock market sentiment.

Out of 4,328 stocks traded on the BSE, 1,475 advanced, while 2,694 declined. Some 159 stocks remained unchanged.

Vedanta, Shriram Finance, and Hindustan Zinc were among the 94 stocks that hit their 52-week highs in intraday trade on the BSE.

ACC, REC, PFC, Colgate Palmolive (India), Mankind Pharma, United Breweries (UBL), and Page Industries were among the 196 stocks that hit their 52-week lows on the BSE.

(This is a developing story. Please check back for fresh updates.)

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stories by Nishant Kumar

Disclaimer: This story is for educational purposes only. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.

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