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Sensex Today | Stock Market Highlights:
The market ended lower on Tuesday, breaking a six-day winning streak. Selling pressure increased across sectors, and more than 40 Nifty stocks closed in the red. All major sectoral indices also fell, with realty and metal stocks taking the biggest hit.
In the broader market, stock-specific action remained mixed. Kaynes Technology dropped over 6% as its shareholder lock-in period expired. Paytm slipped 3% after more than 2% equity changed hands via block deals. Mphasis also fell 1% as its promoter group sold over 9% stake.
However, not all stocks declined. Groww extended its post-listing rally and rose 9%, almost doubling from its IPO price. Meanwhile, PhysicsWallah made a strong market debut, listing with a 33% premium and ending 43% higher. Bharti Airtel gained 2% after S&P upgraded its rating to BBB. Additionally, WeWork India climbed 3%, and GMR Airports gained 6% after a positive note from Jefferies. Bombay Burmah also surged 10% after terminating its agreement with MSTC. CONCOR added 1% following the Railway Ministry’s new policy for bulk cement containers.
Market at Close | Key Highlights
- Market breadth favoured declines as broader indices underperformed
- 40+ Nifty stocks ended in the red amid broad-based selling
- All sectoral indices closed lower; realty and metal were top losers
- Sensex fell 278 points to 84,673; Nifty declined 103 points to 25,910
- Midcap index dropped 359 points to 60,822; Nifty Bank fell 63 points to 58,899
- Kaynes Tech lost over 6% as shareholder lock-in expired
- Groww surged 9%, nearly doubling from its IPO price
- Bharti Airtel gained 2% after an S&P rating upgrade
- PhysicsWallah debuted with a 33% premium and ended 43% higher
- WeWork India rose 3% and GMR Airports 6% on upbeat commentary
- Paytm slipped 3% after block deals worth over 2% equity
- Mphasis dropped 1% after promoters sold more than 9% stake
- Bombay Burmah gained 10% after ending its MSTC agreement
- Railway Ministry’s new policy boosted CONCOR by 1%
Bombay Burmah Terminates Agreement With MSTC
Bombay Burmah announced the termination of its agreement with MSTC Ltd. The pact allowed MSTC to act as a selling agent for the company’s land and immovable properties through e-auctions. The termination took effect on November 18.
Market Outlook
The domestic market edged lower as investors booked profits after the recent rebound. Weak global cues also added pressure. Expectations of a US Fed rate cut in December have faded, which weighed on sentiment. IT, metal, and realty stocks declined because of the stronger dollar. Private banks, however, provided some support.
Investors now await this week’s US jobs data, which could influence the Federal Reserve’s policy outlook. Going forward, progress on the Indo-US trade deal and improving domestic earnings may help revive confidence. These factors could also support a sustained move above the Nifty50 level of 26,000.
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