Stock market today: Sensex, Nifty 50 end flat; Reliance, Bharti Airtel among top drags; midcaps, smallcaps outperform | Stock Market News

Stock market today: Indian stock market benchmarks- the Sensex and the Nifty 50- ended flat on Tuesday, December 10, as gains in shares of select heavyweights, such as Infosys, ICICI Bank and SBI, were offset by losses in those of Reliance Industries, Bharti Airtel and Larsen and Toubro (L&T).

The Sensex closed just 2 points up at 81,510.05, while the Nifty 50 settled at 24,610.05, down 9 points.

Mid and smallcap segments of the market outperformed the benchmarks. The BSE Midcap index rose 0.30 per cent and the Smallcap index climbed 0.33.

Sectoral indices today

While the market benchmarks ended lacklustre, the majority of sectoral indices ended in positive territory. Nifty Realty rose over a per cent, followed by the IT index, which climbed almost a per cent.

Nifty Bank snapped its last two session’s losing run to end with modest gains of 0.32 per cent, with shares of PNB, SBI, Kotak Mahindra Bank and ICICI Bank among the top gainers.

Top Nifty 50 gainers and losers today

Out of the total 50 stocks in the Nifty 50 index, 27 ended in the red. Shares of Bharti Airtel, Dr. Reddy’s Laboratories and Adani Ports ended as the top losers.

On the other hand, shares of Shriram Finance, Bajaj Finserv and HCL Technologies ended as the top gainers in the index.

Nifty 50 falls for the third consecutive session: What weighs on market sentiment?

The Nifty 50 has declined for three consecutive weeks, although the magnitude of the fall has been small. Over the three days of losses, the index has dropped just 0.40 per cent.

The index is witnessing some profit booking after rising for the last three consecutive weeks. At the current juncture, the index is 6.3 per cent down from its all-time high of 26,277.35, which it hit on September 27.

Experts say the market lacks fresh triggers and is moving sideways ahead of the key macro data and US Fed policy outcome next week on December 18.

“Upcoming inflation data from the US and India are critical for insights into potential future rate cuts. India’s CPI will serve as a key indicator of underlying earnings growth, which has been downgraded in the first half of FY25,” said Vinod Nair, Head of Research at Geojit Financial Services.

Ajit Mishra, SVP of research at Religare Broking, pointed out that rotational participation across sectors is sustaining the positive sentiment during this phase of rangebound trade. Despite the consolidation, the continued buoyancy in midcap and smallcap stocks is encouraging.

Mishra advises traders to maintain a stock-specific approach, focusing on long positions unless the Nifty 50 breaks below the 24,300 level decisively.

According to Rupak De, Senior Technical Analyst at LKP Securities, the sentiment will likely stay sideways in the near term unless the index makes a decisive move beyond this range.

“A break below 24,470 could trigger a correction of 200 to 250 points, while resistance is seen at 24,700 to 24,750,” said De.

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