RSS Sensex, Nifty Drift Lower On Weak Global Cues

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 RSS Sensex, Nifty Drift Lower On Weak Global Cues

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Indian shares closed lower on Monday, influenced by a sell-off in all three major U.S. indices on Friday. This downturn affected the typical Santa Claus rally due to concerns over increasing bond yields.

The strengthening of the dollar, outflows from foreign institutional investors, and a depreciating rupee further dampened market sentiment as the year 2024 comes to a close.

The S&P BSE Sensex, the benchmark index, decreased by 450.94 points, or 0.57%, closing at 78,248.13 after a volatile session, during which it mirrored unfavorable trends from Asian and European markets.

Meanwhile, the broader NSE Nifty index dropped by 168.50 points, or 0.71%, settling at 23,644.90, ending a two-day stretch of gains.

The decline was widespread, with stocks like Wipro, BEL, Trent, Tata Motors, and Hindalco each declining about 2%.

Conversely, Adani Enterprises surged by 7.3% following a report projecting its consolidated revenue to grow at a compound annual growth rate (CAGR) of 17.5% and net earnings by 45.8% during the fiscal years 2023-24 and 2027.

Additionally, Tech Mahindra, HCL Technologies, IndusInd Bank, and Shriram Finance all experienced approximately 1% increases.

The material has been provided by InstaForex Company - www.instaforex.com
 
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