Nifty ended flat; broader markets outperformed!

Uniparts India had a disappointing debut on the bourses as it listed at a discount and as the day progressed, losses exaggerated.

Market update at 3:30 PM: Indian benchmark indices closed flat on the first trading session of a fresh week. The Nifty closed almost unchanged and within striking distance of 18,500 mark, while Sensex dipped 51 points to close at 62,130 mark.   

The start to the day was not a pleasant one amid fragile global cues, but as the day progressed, immediately the bulls latched on the opportunity to buy at lower levels and indices recovered from the lower levels to end flat.   

The real action was seen in the broader markets, with Nifty Midcap and Small-cap index ending the day with gains of 0.36 and 0.55 per cent, respectively. As a result, the advance decline ratio was titled in favor of advances.   

Talking about the sectoral performance majority of the sectors ended in green, led by Nifty PSU Bank and Nifty Realty, while on other hand, Nifty IT and Nifty Pharma ended in red.   

Uniparts India had a disappointing debut on the bourses as it listed at a discount and as the day progressed, losses exaggerated. It closed near the lowest point of the day, down by nearly 7 per cent.

Market Update 09:50 AM: The Nifty has recovered more than 100 points from the day’s low and it is seen trading above the 18,450 mark. Sensex has also reclaimed its 62,000 mark.  

Talking about the sectoral performance, once again it is Nifty PSU Bank which has come to the rescue as it is trading with gains of nearly half a per cent along with Nifty Media, rest all other sectors are trading in red. Among top losers, Nifty Metal and Nifty Realty have lost 0.36 and 0.34 per cent, respectively.  

Talking about stock specific action, many stocks have scaled to their 52-week high which includes Wabag, Nelcast, JMC Project and Redington.  

Pre-Market: The early action at SGX Nifty indicates a rough start to a pivotal week for the Indian markets as investors looked ahead to a trio of central bank interest-rate decisions this week. The SGX Nifty is down by 65 points.  

The reason for the rough start for the domestic market could be attributed to the negative close on Wall Street on Friday following a disappointing reading on inflation. The producer price index (PPI), which measures what suppliers are charging businesses and other customers for good and services, was up 7.4 per cent YoY in November and 0.3 per cent MoM. The Dow slipped 0.9 per cent, while the tech-heavy Nasdaq and the S&P 500 both dropped around 0.7 per cent.  

The Asian markets also dwindles in early trade as global sentiments remains fragile. Hang Seng has plummeted more than 1.5 per cent, while Shanghai Composite is down by 0.62 per cent.  

On the domestic front, all eyes will be on India’s CPI Inflation for November and also on the listing of Unipart India. The IPO was subscribed 25.32 times, with institutional buyers placing bids for 67.14 times their basket and HNIs oversubscribing their portion 17.86 times. Meanwhile, retail portion was subscribed 4.63 times.