Indian Stock Market Sees Sharp Decline
On December 10, the Indian stock market experienced a significant decline, with benchmark indices falling sharply. The Nifty Capital Markets index dropped by more than 2 percent, extending its losses for the third consecutive session to close at 4,482.10.
Key Indexes and Stocks Affected
The Sensex fell by over 275 points (0.32 percent) to close at 84,391.27, while the Nifty 50 dropped nearly 82 points (0.32 percent) to end the session at 25,758. This marks the first time in around one month that the NSE's benchmark index closed below the 25,800-mark.
Some of the top losers on the index included Multi Commodity Exchange of India (MCX) shares, which fell by more than 5 percent to close at Rs 9,805 apiece, and Bombay Stock Exchange (BSE) shares, which dropped by over 4 percent.
- Central Depository Services (CDSL) shares fell by nearly 3 percent
- Motilal Oswal Financial Services, Angel One, and Computer Age Management Services (CAMS) shares fell by over 2 percent each
- Indian Energy Exchange (IEX) and 360 ONE WAM shares fell by more than 1.5 percent each
- Kfin Technologies and UTI AMC shares fell by over 1 percent each
- Nuvama shares were down by nearly 1 percent
Expert Insights
According to Vinod Nair, Head of Research, Geojit Investments Limited, global equity markets are experiencing continued volatility due to rising Japanese bond yields and indications of BOJ monetary tightening. This is fostering risk-off sentiments in emerging markets, with a focus on the upcoming U.S. Fed meeting, where a 25-bps rate cut is widely expected.
Indian markets are mirroring global caution, weighed down by persistent FII outflows,
Stay tuned for more stock market updates and financial news to stay ahead of the curve.