Silence in the market before Christmas! IT and Pharma spoiled the game, Sensex closed in the red

Share Market Highlights: The Indian stock market closed with a decline at the end of trading today on Wednesday, December 24. Major benchmarks Sensex and Nifty witnessed a slight decline. The market remained under pressure due to selling in shares of oil and gas, pharma and IT sectors. Before the Christmas holiday on Thursday, investors appeared cautious, due to which the pace of trading in the market remained slow. At the end of the trading session, Sensex fell 116.14 points or 0.14 percent to close at 85,408.70, while Nifty fell 35.05 points or 0.13 percent to close at 26,142.10.

Market experts say that Nifty remained around the support level of 26,100 to 26,130, where some buying was seen, but there was no strong rise in the market. Unless Nifty stands firmly above 26,200, the market may remain cautious.

Today’s Top Gainers and Losers

Shares of Trent, UltraTech Cement and Maruti Suzuki witnessed gains on BSE, while shares of Tata Motors Passenger Vehicle, Sun Pharma and Asian Paints declined. On the NSE, shares of Trent, Shriram Finance and Apollo Hospitals gained well, while shares of Indigo and Dr. Reddy’s Labs were in the red. Overall, the market witnessed a mixed trend. The Nifty Smallcap 100 index gained 0.28 per cent, while the Nifty Midcap 100 index fell 0.60 per cent.

Decline in metal and pharma sector

Sector wise, Nifty Oil & Gas was the weakest, falling by 0.76 percent. After this, metal and pharma sectors also closed with a decline. On the other hand, Nifty Media index gained 0.44 percent and realty and metal sectors also closed with slight strength. According to experts, before the holidays, investors are currently preferring to stay away from the market, due to which the market remains in a limited range. Market movements may remain slow in the coming days as well, although investors will keep an eye on news related to global trade.

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FIIs remained on sale for the second consecutive day

In the cash market, foreign institutional investors sold around Rs 1800 crore for the second consecutive day, but including derivatives and other segments, they were net buyers of around Rs 2150 crore for the third consecutive day. On the other end, domestic institutional investors Maintaining the record of purchases that had been going on for 82 days, it pumped in around Rs 3800 crores into the market yesterday.