Sensex Trades Flat; Maruti Suzuki, Power Grid among Major Losers

Sensex Trades Flat; Maruti Suzuki, Power Grid among Major Losers

VoM News Desk | December 21, 2023 | 11:41 AM IST | Breaking News | Follow on Google News

Sensex Trades Flat; Maruti Suzuki, Power Grid among Major Losers

Sensex Trades Flat; Maruti Suzuki, Power Grid among Major Losers

During today’s trading session, the benchmark indices began in negative territory but swiftly recovered, maintaining a flat trajectory by 11 AM. The Sensex showed a marginal uptick of 16.61 points or 0.02% at 70,522.92, while the Nifty registered a slight gain of 6.30 points or 0.03% at 21,156.50.

In the Nifty, Maruti Suzuki, Power Grid, Axis Bank, Apollo Hospitals, and Adani Enterprises faced notable losses. Conversely, ONGC, HDFC Bank, and Reliance Industries were among the prominent gainers.

Asian markets faced a downturn following Wall Street’s recent decline. MSCI’s broadest index of Asia-Pacific shares outside Japan fell by 0.6%, prompted by concerns over the U.S. inflation report, mirrored by subdued Treasury yields nearing five-month lows.

Wall Street observed a negative trend as the Dow Jones fell over 1.2%, marking the S&P’s worst performance since October and ending a nine-day winning streak for the Nasdaq and Dow Jones.

Oil prices dipped after three consecutive days of gains, affected by record-high U.S. production figures that outweighed threats from Yemen’s Houthi rebels targeting ships in crucial waterways.

In other news, Cochin Shipyard clinched a contract valued at ₹488.25 crore with the Ministry of Defence for the short refit of an Indian Naval ship, spotlighting Cochin Shipyard stock in the market.

Additionally, gold experienced a minor rise in early trading, influenced by the dollar index (DXY) fluctuations. Investors anticipate forthcoming U.S. economic data, particularly the November core personal consumption expenditure (PCE) index report, to gauge the Federal Reserve’s potential actions in response to underlying inflation.

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VoM News Desk

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