NIFTY50 and SENSEX partially recoup morning losses; Kotak Mahindra Bank, SBI and BEL among key index movers

Indian equity markets remained in red in the mid-market on account of strong selling in IT industry-related stocks namely TCS, Infosys and HCL Technologies. Meanwhile, broader indices were also trading in red, with the BSE Small cap index and Mid cap index falling in the range of 0.20-0.50%.

Weak cues from the global markets weighed on the domestic sentiments. Sentiments were also weak as the data released by the Finance Ministry showed that India's external debt rose to $ 711.8 billion as of September this year, up 4.3 per cent over June 2024.

On the BSE sectoral front, traders were seen pilling up positions in Capital Goods, PSU, Metal, Industrials and Healthcare, while selling was witnessed in IT, TECK, Realty, Utilities and Consumer Disc.

On the global front, Asian markets were trading mostly in red as investors assessed China’s manufacturing growth that missed expectations. China’s purchasing managers’ index for December came in at 50.1, missing expectations, signalling that Beijing’s stimulus measures were not sufficient to boost the country’s ailing economy meaningfully.

Back home, in the stock-specific development, Rail Vikas Nigam (RVNL) climbed after the company emerged as the lowest bidder for the project from Central Railway. The project is valued at Rs 137.15 crore and is set to be completed within 24 months.

The SENSEX traded at 78032.48, down by 215.65 points or 0.28% after trading in a range of 77560.79 and 78069.39. The index had 13 stocks advancing and 17 stocks declining.

The NIFTY50 traded at 23596.40, down by 48.50 points or 0.21% after trading in a range of 23460.45 and 23611.95. The index's 24 stocks were advancing, while 26 stocks were declining.

Asian markets were trading mostly in red; Shanghai Composite weakened 26.39 points or 0.78% to 3,380.94, Straits Times fell 8.13 points or 0.21% to 3,787.60 and Taiwan Weighted lost 107.18 points or 0.46% to 23,083.02. However, Hang Seng advanced 18.53 points or 0.09% to 20,059.95 and Jakarta Composite gained 43.33 points or 0.61% to 7,079.90.