Sensex sheds 132 pts, Nifty around 20,900, power stocks gain

Ira Singh
Khabar Khabaron Ki,07 Dec’23

The Indian equity market indices snapped seven-day winning run, Sensex and Nifty took a breather on Thursday amid weak global market cues and selling by FIIs. Banking and IT stocks saw the highest selling pressure.Oil prices reclaimed some ground on Thursday after tumbling to a six-month low the previous day but investors remained concerned about sluggish demand in the United States and China.

At close, the Sensex was down 132.04 points or 0.19 percent at 69,521.69, and the Nifty was down 36.55 points or 0.17 percent at 20,901.15. About 1893 shares advanced, 1342 shares declined, and 81 shares unchanged.

Stocks and Sectors
Power Grid Corporation, Adani Ports, UltraTech Cement, Cipla and Grasim Industries were the top gainers on the Nifty, while losers included Bharti Airtel, HUL, ONGC, Apollo Hospitals and Tata Steel,

A mixed trend was seen on the sectoral front with auto, healthcare up 0.5 percent each, oil & gas index up 1 percent and power index rose nearly 3 percent, while FMCG and Metal indices down 0.5 percent each.BSE midcap index rose 0.7 percent and Smallcap index up 0.3 percent.

On 07 Dec’23,the Indian rupee depreciated 4 paise to close at 83.36 against the US dollar in the morning session on Thursday, tracking the strength of the American currency in the overseas market and muted trend in domestic equities. Forex traders said rupee is trading in a narrow range as the support from easing crude oil prices was negated by strong dollar demand from importers.

Experts Take:
Market experts have recommended six stocks to buy for Thursday- Infosys, Glenmark Pharma, Whirlpool, Jindal Steel, LIC and Lemon Tree