Sensex, Nifty 50 snap 6-day winning run — 10 key highlights from Indian stock market today

Stock Market Today: Indian benchmark indices retreated after a six-day advance, with the bulls once again failing to retake record highs that remain just over 1% away. Profit-taking ensued after the recent rally, with investors keenly eyeing key US economic data for cues on the Fed rate cut path.

The 30-share BSE Sensex declined 278 points or 0.33% to 84,673, while its NSE counterpart Nifty 50 lost 103 points or 0.40% to 25,910.

The selling was broad-based as all major sectoral indices declined in trade today. Meanwhile, the broader market also came under pressure, as the BSE Midcap index shed 0.70% and BSE Smallcap index 0.85%.

Here are the 10 key highlights from the Indian stock market today:

Vinod Nair, Head of Research, Geojit Investments, said the domestic equity market edged lower as investors booked profits after the recent rebound, mirroring weak global sentiment.

"Expectations of a U.S. Fed rate cut in December have diminished, weighing on sentiment, with IT, metal, and realty stocks declining amid a stronger dollar, while private banks offered some support. Investors now await this week’s U.S. jobs data, which will be key in shaping the Fed’s policy outlook. Going forward, progress on the Indo-U.S. trade deal and a strengthening domestic earnings outlook could help revive confidence and support market momentum to convincingly cross the Nifty50 threshold of 26,000," Nair added.

A total of 42 Nifty 50 stocks tumbled in trade today, Tata Consumer emerging as the worst performer with a 2.28% decline. It was closely trailed by Tech Mahindra, which lost 2.21%.

Jio Financial, IndiGo and Eternal emerged as other top losers, shedding over 1.5% each.

Telecom major Bharti Airtel emerged as the best performer, with a 1.60% rise in trade today. Axis Bank (up 1.07%), Asian Paints (0.65%), Shriram Finance (0.62%) and Titan (0.42%) followed suit.

Vodafone Idea remained the most active stock in terms of volume as some 61.26 crore shares of the telecom firm changed hands. Newly-listed Groww followed suit with over 46 crore traded volume. PhysicsWallah, GMR Airports and YES Bank were among other most actively-traded stocks on NSE today.

Six stocks on the NSE ended between 9-19% gains. Securekloud Technologies was the top performer with a 19% rise. The SME stock last Friday posted its Q2 results.

Energy Development Company and Bang Overseas, up 19.97% and 13.28%, were the only two stocks that clocked double-digit gains.

Pansari, Developers, TPHQ and 5Paisa closed 9% higher in trade.

More to come...

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