The Indian stock market extended its decline for the second consecutive day on Tuesday, December 2, as investors booked profits at higher levels. Weakness in the rupee and continued foreign investor outflows added pressure, pushing major indices lower.
Market Performance: Sensex, Nifty and Broader Markets
- BSE Sensex fell 504 points (0.59%) to 85,138.
- Nifty 50 closed at 26,032, down 144 points (0.55%).
- BSE-listed firms saw their combined market capitalisation drop by ₹1.82 lakh crore, reaching ₹472.59 lakh crore.
Broader markets showed a slight resilience. The BSE Smallcap index dropped 0.49%, while the BSE Midcap shed 0.14%, outperforming the major indices marginally.
Key Factors Behind the Decline
Profit booking emerged as the dominant theme, especially after recent market rallies. Contributing factors included:
- A weak rupee is putting pressure on investor sentiment.
- Persistent foreign outflows lead to reduced liquidity.
- Sectoral corrections following NSE index adjustments.
Despite these short-term pressures, domestic macro fundamentals remain solid, providing some stability to the market.
Sectoral Overview: Winners and Losers
The decline was broad-based, with most sectors closing in the red, except pharma:
- Nifty Bank Index: down 0.68%
- Nifty Financial Services: down 0.90%
- Auto, IT, Metals, Realty: closed lower
- Nifty Pharma: remained positive, bucking the market trend.
Top Nifty Gainers
Several stocks managed to close higher despite the overall negative trend:
- Asian Paints: +3.15%
- Dr Reddy’s Labs, Maruti, Bharti Airtel, SBI Life, Trent: gained 0.5%-1%
Top Nifty Losers
Some major index heavyweights dragged the market down:
- IndiGo: -1.6%
- ICICI Bank, RIL, HDFC Bank, Axis Bank, Adani Enterprises: fell over 1% each
Stocks With Significant Moves
The market saw extreme price movements in some individual stocks:
- 8 stocks surged over 10% – including Tips Films (+19.99%), SPARC (+19.99%), and Easy Trip Planners (+19.92%).
- 2 stocks declined over 10% – Priti International and JHS Svendgaard Retail Ventures.
52-Week Highs and Lows
Even amid a market downturn, some stocks achieved new milestones:
- 52-week highs: 45 stocks, including Asian Paints, Bank of Baroda, AU SFB, Federal Bank, Paytm, Motherson Sumi, Union Bank, Vedanta.
- 52-week lows: 180 stocks, including Awfis, Bata India, Deepak Nitrite, Devyani International, Excelsoft Technologies, JSW Cement, PFC, PC Jeweller.
Most Active Stocks
Trading activity remained concentrated in a few names:
- Vodafone Idea: 64.93 crore shares
- Bajaj Housing Finance: 43.95 crore shares
- Other active stocks: HCC, Ease My Trip, JP Power
Advance-Decline Ratio
The day favoured sellers on Dalal Street:
- Declined: 2,007 stocks
- Gained: 1,084 stocks
Summary
Tuesday’s session reflected cautious investor sentiment in the Indian stock market, with profit booking dominating trade. Weakness in the rupee and ongoing foreign outflows intensified the decline, while broader indices managed to show relative resilience. Despite short-term volatility, strong domestic fundamentals and corporate earnings trends continue to underpin market stability.
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