Business Economy


Market settles lower amid caution ahead of US Fed policy announcement

New Delhi, Dec 9 (UNI) The Indian stock market today settled lower for a second straight session as caution prevailed ahead of the US Federal Reserve’s policy announcement, with BSE Sensex closing at 436.41 points or 0.51 percent lower at 84,666.28 and the broader NSE Nifty slipping to 25,839.65, down 120.90 points or 0.47 pc.
The Mid- and Small-cap segments erased losses and ended higher, outperforming the benchmarks. The BSE Midcap index ended 0.60 pc higher, while the Smallcap index jumped 1.27 pc.
The overall market capitalisation of BSE-listed firms rose to Rs 465 lakh crore from Rs 464.2 lakh crore in the previous session.
Among the sectors, most of the indices ended with losses. Nifty Consumer Durables was up 1.31 pc, PSU Bank (up by 1.29 pc), Realty (0.95 pc), and Media (0.70 pc).
On the losing side were Nifty IT down by 1.19 pc, Auto (0.72 pc) and Financial Services (0.50 pc) were the key losers. Further, the Nifty Bank ended with a nominal loss of 0.03 pc at 59,222.35.
Out of 4,331 stocks traded on the BSE, 2,619 advanced, while 1,554 declined. Some 158 stocks remained unchanged.
On Nifty, the top gainers of the index were Eternal up by 2.28 pc, Titan Company up by 1.94 pc and Adani Enterprises up by 1.53 pc.
Further, Asian Paints (4.60 pc), Tech Mahindra (1.90 pc), and HCL Technologies (1.82 pc) ended as the top losers.
The shares of SpiceJet surged nearly 8 pc to their day's high extending gains for the third consecutive session. SpiceJet shares hit an intraday high of Rs 34.99 apiece extending gains to 15 pc over three consecutive sessions as rival airline IndiGo faces mass disruptions.
The US markets closed in the red as investors turned cautious ahead of the Fed decision.
Among the key Asian indices, the key ones including Hong Kong’s Hang Seng, South Korea’s KOSPI and Shanghai’s SSE Composite, traded lower.
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