Stock market snaps 3-day winning streak amid global trends, auto stocks shine

Ira Singh
Khabar khabaron Ki,18 Dec’23

The Indian equity market indices traded lower on Monday ahead of Japan’s monetary policy decision.

At close, the Sensex was down 168.66 points or 0.24 percent at 71,315.09, and the Nifty was down 38.00 points or 0.18 percent at 21,418.65. About 1886 shares advanced, 1478 shares declined, and 124 shares unchanged.

Stocks and Sectors

Bajaj Auto, Adani Ports, Sun Pharma, Hindalco Industries and Reliance Industries were the biggest gainers on the Nifty while losers included Power Grid Corporation, JSW Steel, ICICI Bank, ITC and Tech Mahindra.

On the sectoral front, pharma index up 1 percent, capital goods index up 0.7 percent, while realty index down 1 percent and bank index down 0.5 percent.The broader indices outperformed the main indices with the BSE Midcap index rising 0.3 percent, while smallcap index gained 0.5 percent and touched a fresh record high of 42,371.96, intraday.

On 18 Dec’23,the Indian rupee opened 4 paise higher at 82.96 against the US dollar on Monday amid a weak American currency in the overseas markets and unabated foreign fund inflows.Meanwhile, crude oil prices traded higher, restricting gains in rupee, stated traders.

Experts Take:
Market experts have recommended six stocks to buy for Monday— Tata Motors, RBL Bank, Emami, Sobha, Graphite India and RIL.