Market ends in red amid rupee depreciation, selling across sectors

The Indian stock market on Tuesday ended in the red for the third consecutive session. Nifty closed around 26,000 amid depreciation in the rupee and selling across the sectors. At close, the Sensex was down 503.63 points or 0.59% at 85,138.27, and the Nifty was down 143.55 points or 0.55% at 26,032.20. Advertisement While the BSE Midcap index ended marginally lower, the Smallcap index fell 0.6%. The market capitalisation of all listed companies on the BSE declined by Rs 1.82 lakh crore to Rs 472.59 lakh crore during the trade. Among the sectors, all major sectoral indices closed with cuts. The Nifty Bank index was down 0.68%, and Nifty Financial Services, down by 0.90% hit the worst. Auto, IT, metals, and realty also faced losses, with only Nifty Pharma remaining untouched. Banking heavyweights such as HDFC Bank, ICICI Bank, and Axis Bank fell around 1%. On Nifty, 15 stocks closed in the green. Asian Paints emerged as the best performer, rising 3.15% following an upgrade by UBS. Dr Reddy’s Labs, Maruti, Bharti Airtel, SBI Life and Trent followed suit, gaining 1%-0.5%. IndiGo was the worst performer as it declined 1.6% while other heavyweights like ICICI Bank, RIL, HDFC Bank, Axis Bank and Adani Enterprises also ended deep in the red, shedding over 1% each. On BSE, 52 stocks scaled 52-week high levels with the prominent names including Asian Paints, Bank of Baroda, AU SFB, Federal Bank, Paytm, Motherson Sumi, Union Bank and Vedanta. Those touching lows included Awfis, Bata India, Deepak Nitrite, Devyani International, Excelsoft Technologies, JSW Cement, PFC, and PC Jeweller. The Indian rupee continued hitting a fresh record low, as it touched a new record low of 89.95 per dollar. BLS International Services, Great Eastern Shipping, Sonata Software, Reliance Infrastructure, NBCC (India), Gillette India, AWL Agri Business, PCBL Chemical, were among some of the stocks closing with losses between 2% and 3%. Investors’ focus will now shift to the three-day RBI MPC meeting, slated to begin tomorrow, with the outcome on December 5.