Sensex, Nifty end marginally lower after hitting record highs

Benchmark Stock Market Indices Slip into Red

Benchmark stock market indices fell into the red by the end of Monday's session, reversing early gains after reaching fresh all-time highs in morning trade.

Market Performance:

• The S&P BSE Sensex closed 64.77 points lower at 85,641.90.
• The NSE Nifty50 ended 27.20 points down at 26,175.75.
• Key sectors experienced mild pressure, although select auto and cement stocks managed to hold firm.

Top Gainers and Losers:

• Top gainers on the Nifty50: Ultratech Cement, TMPV, Maruti, BEL, and Eicher Motors.
• Losers on the Nifty50: Max Health, IndiGo, Bajaj Finance, Sun Pharmaceutical, and Adani Enterprises.

Market Analysts' View:

According to Vinod Nair, Head of Research at Geojit Financial Services, the market cooled off as enthusiasm around a potential RBI rate cut faded.

“After reaching a new high, the market moved into a range-bound phase as expectations of an RBI rate cut in December faded following better-than-expected Q2 GDP growth and a sharp depreciation of the rupee,” he said.

Nair added that sentiment also turned cautious due to muted GST collections in November, which were impacted by lower tax rates.

“The auto index outperformed, backed by strong November numbers, aided by GST rationalisation, benign inflation and solid wedding season demand,” he noted.

Market Outlook:

With macro signals mixed and valuations elevated, analysts expect markets to remain choppy in the near term, driven largely by incoming economic data, policy cues, and global trends.