Today, the Nifty closed at 23,587.50 points, down 364.20 points, or 1.52 percent, while the Sensex closed at 78,041.59 points, down 1.5%, or 1,176 points.
New Delhi: On the final day of this week, the Indian stock indices saw yet another brutal day, with the Sensex and Nifty down almost 1.5% each.Today, the Nifty closed at 23,587.50 points, down 364.20 points, or 1.52 percent, while the Sensex closed at 78,041.59 points, down 1.5%, or 1,176 points. Today, all sectoral indices saw significant losses; the biggest losers were Nifty IT, PSU Bank, auto, and real estate.
According to data, the Sensex and Nifty each lost almost 5 percentage points throughout the week.
Ajit Mishra, SVP, Research, Religare Broking, stated, "As expected, declines in IT and banking heavyweights are adding to the market pressure, signaling potential challenges ahead." "Traders should adjust their positions accordingly, maintaining a strong focus on risk management."
The US Federal Reserve's suggestion of fewer rate cuts next year than expected, along with selling by foreign portfolio investors, caused the indices to plummet on all five sessions this week.
Domestic sentiment has also been tempered by the November trade deficit's expansion.
India's November goods trade deficit, which was caused by a sharp increase in imports compared to exports, was USD 37.84 billion. According to reports, this is the biggest monthly trade deficit ever.
"Today's unfavorable reaction to the Fed's remarks will only last a short while. Largecaps could lead a recovery in the near future, according to V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
Indian equity markets managed to finish the week with slight gains last week after a strong second half on Friday.
At 85,978 points, the Sensex is still almost 6,000 points below its peak.
The markets will respond to the commentary in the RBI policy minutes that will be issued later this week.
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