Mid-market session: NIFTY50 and SENSEX fall 0.5%; Titan, BPCL and Ultratech Cement among top losers

Weak cues from the other Asian markets weighed on the domestic sentiments.

The December flash India Composite Purchasing Managers' Index (PMI), compiled by S&P Global, rose to 60.7 this month—matching August's reading—after dropping to 58.6 in November.

Meanwhile, India's wholesale inflation eased to 1.89% on an annual basis in November from 2.36% in October, on the back of a slower increase in food prices. The positive rate of inflation in November is primarily due to an increase in the prices of food articles, food products, other manufacturing, textiles, machinery, and equipment.

On the global front, Asian markets were trading mostly in red as investors looked to several major central bank decisions due this week, including the Bank of Japan and the People’s Bank of China. In a stock-specific development, HBL Engineering surged after the company secured an order worth Rs 1,522 crore.

The BSE Sensex traded at 81644.40, down by 488.72 points or 0.60% after trading in a range of 81600.30 and 82116.44. Three stocks advanced, while 27 stocks declined on the index.

The broader indices were trading in green; the BSE Mid cap index was (+0.32%), while the Small cap index was (+0.25)%.

Meanwhile, the Society of Indian Automobile Manufacturers (SIAM) has said that passenger vehicle dispatches from companies to dealerships rose 4% year on year to 3,47,522 units in November 2024 with demand momentum sustaining the post-festive period in October. The overall passenger vehicle dispatches stood at 3,33,833 units in November last year.

The NIFTY50 traded at 24628.60, down by 139.70 points or 0.56% after trading in a range of 24608.90 and 24781.25. Six stocks advanced on the index, while 44 stocks declined.

Asian markets were trading mostly in red; Hang Seng declined 155.56 points or 0.79% to 19,815.68. Jakarta Composite plunged 65.32 points or 0.9% to 7,259.47, Shanghai Composite weakened 1.42 points or 0.04% to 3,390.46, KOSPI dropped 6.52 points or 0.26% to 2,487.94, Nikkei 225 slipped 19.2 points or 0.05% to 39,451.24 and Taiwan Weighted lost 13.97 points or 0.06% to 23,006.51. However, Straits Times rose 7.97 points or 0.21% to 3,818.32.