Stock market today LIVE updates: The Indian stock market’s benchmark indices closed in the red today, as continued rupee weakness, driven by persistent FII outflows and subdued global sentiments, dragged domestic markets into negative territory.
The Nifty 50 fell 0.64% to 25,860.1, and the BSE Sensex lost 0.63% to 84,679.86. Reliance Industries and Axis Securities emerged as the biggest index drags today.
Sectorally, 15 of the 16 major equity indexes fell on the day. Small-caps and mid-caps lost 0.9% and 0.8%, respectively.
The benchmarks have been range-bound over the past two weeks after scaling record highs on December 1, as markets grapple with a lack of fresh catalysts. Progress on the US–India trade deal and rupee stabilisation will be critical, while softer commodity prices and improving earnings visibility are expected to provide a constructive medium-term backdrop.
Nifty: Tech view
Rupak De, Senior Technical Analyst at LKP Securities, said, “The day favoured the bears as the Nifty remained below the key 200 SMA on the hourly chart throughout the session. Additionally, the index failed to retest the morning high, indicating complete control by the bears.”
On the downside, the support at 25,870 was breached, intensifying bearish sentiment in the market, he said, adding that in the short term, the index may drift lower towards 25,700 and lower. “On the upside, the 25,950–26,000 zone is likely to act as a crucial resistance in the near term.”
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