Market Wrap, Dec 17: NIFTY50 ends at 25,818, SENSEX falls 120 points; 152 stocks touch 52-week low, Max Healthcare top laggard

The Indian stock market closed lower for the third consecutive session on Wednesday, December 17, weighed down by consumer durables stock and mixed global cues. The volatility in the rupee and persistent foreign fund outflows also kept investors worried.

The rupee witnessed high volatility on Wednesday, as support from easing crude oil prices was offset by uncertainty over the India-US trade deal and persistent foreign fund outflows. The domestic unit witnessed a sharp recovery and appreciated 97 paise to touch an early high of 89.96 against the American currency.

On a provisional basis, the Indian currency recovered 56 paise from an all-time low level to close at 90.37 against the US dollar.

According to exchange data, on Tuesday, the foreign institutional investors (FIIs) sold shares worth ₹2,381.92 crore, while the domestic institutional investors (DIIs) bought equities worth ₹1,077.48 crore on a net basis.

Globally, stocks in Asia closed mixed on Wednesday as investors remained cautious ahead of the US economy data and fiscal health in the developed world. 

Japan's Nikkei was up 0.36%, Hong Kong's Hang Seng rose 0.74%, and China's Shanghai Composite gained 1.17%, while South Korea's KOSPI ended 1.41% higher. Straits Times slipped 0.09%, while Taiwan Weighted fell 0.04% at close.

Wall Street’s major indices ended mixed on Tuesday, with the Nasdaq rebounding to finish higher, while the S&P 500 and the Dow Jones closed lower, as investors assessed delayed economic data for clues on the Federal Reserve’s monetary policy outlook for next year.

The Dow Jones Industrial Average fell 0.62%, and the S&P 500 declined 0.24%, while the tech-heavy Nasdaq advanced 0.23%.

Here are the key developments of Wednesday's session that you need to know

As many as 3,224 stocks traded on the NSE on Wednesday. Out of this, 1,055 advanced and 2,084 stocks declined, while 85 scrips remained unchanged.

This indicated that the market breadth was in favour of declines.

A total of 47 stocks hit their 52-week highs, while 152 stocks touched their one-year lows. Besides, 60 stocks hit their upper circuit limits, and 60 touched their lower circuit bands on Wednesday.

The market capitalisation of NSE-listed firms stood at ₹463.82 lakh crore at the close of the session.

India VIX, the volatility gauge, stood at 9.84 levels, falling 2.23%.

The broader market also continued to lag, with the Nifty Midcap 100 slipping 0.54% to close at 59,388.85, while the Nifty Smallcap 100 tumbled 0.73% to end at the 17,138.55 level.

Nifty Media was the biggest losing sector, declining 1.71%, followed by Nifty Consumer Durables (-0.96%), Nifty Realty (-0.84%), Nifty FMCG (-0.47%) and Nifty Private Bank (-0.44%).

Meanwhile, Nifty PSU Bank (1.29%), Nifty IT (0.29%), Nifty Metal (0.25%), Nifty Oil & Gas (0.23%) and Nifty Pharma (0.09%) were the gainers among the sectors.

On the NIFTY50 index, 24 stocks closed higher, and 26 declined by the end of the session.

Max Healthcare was the biggest laggard, sinking 3.71%, followed by Apollo Hospitals (-1.98%), Trent (-1.66%), Bajaj Auto (-1.55%) and HDFC Life Insurance (-1.49%).

On the flip side, Shriram Finance (2.07%), State Bank of India (1.58%), Hindalco Industries (1.3%), Eicher Motors (1.15%) and Tata Consumer Products (0.86%) were the top winners on the 50-share index.