Market Wrap, December 6: SENSEX closes 57 pts lower, NIFTY50 ends at 24,678; market breadth in favour of advances 

Throughout the session, the indices flip-flopped between positive and negative territories after RBI, on expected lines, slashed the cash reserve ratio for banks by 50 basis points to 4%. 

At close, the S&P BSE SENSEX stood at 81,709.12 levels, down 57 points, or 0.07%. The broader NIFTY50 index settled the session at 24,677.80, down 30.6 points, or 0.12%. 

However, the benchmark indexes logged their best week since June today, led by financials. 

Commenting on the RBI's decision, Amit Somani, Senior Fund Manager - Fixed Income, Tata Asset Management, said, "To address the likely tightening of liquidity conditions further over the next few months—on account of tax outflows, currency in circulation, and volatile capital flows—the RBI gave a 50 bps CRR cut, restoring it to 4%. This is likely to stabilise short-term rates in the near term, with one-year CD rates trading around 7.50%-7.60% levels."

Top gainers & losers on the NIFTY50 index

As many as 32 stocks out of 50 constituents of the NIFTY50 index ended in the red and the remaining 18 in the green. 

Market Statistics

Of 4,088 stocks traded on the BSE, 2,399 advanced, and 1,590 declined, while 99 scrips remained unchanged. 

As many as 233 stocks hit their 52-week highs, and 13 stocks touched their 52-week lows. 

Further, 410 scrips touched their upper circuit limits, and 191 hit their lower circuit bands. 

Sector Watch

Barring technology, all other sectoral indices ended in the green. The BSE IT index ended flat with a negative bias.

Metals and consumer durable stocks were the biggest gainers. The BSE METAL index rallied 1.17%.

Buzzing Stocks

Shares of Vedanta ended over 6% higher at ₹501.40 apiece on the NSE. Recently, Crisil Ratings upgraded its rating on the company's long-term bank facilities and debt instruments.

Improved capital structure, better financial flexibility, and strong volume growth are the key reasons for the upgrade, it added. 

Broader Market

The BSE MidCap index ended at 47,669.72 levels, up 169 points, or 0.36%, while the BSE SmallCap index settled at 57,050.71, down 343 points, or 0.6%.