Market Trends: Indian Stocks End Lower Ahead of FOMC Meeting Outcome

Indian Stock Market Update

The Indian stock market experienced a volatile session on December 10, with the benchmark indices closing lower for the third consecutive session. The Nifty ended at around 25,758, while the Sensex was down 275.01 points or 0.32 percent at 84,391.27.

Key Gainers and Losers

The top gainers on the Nifty included Eicher Motors, Hindalco, HDFC Life, Tata Steel, and Adani Ports. On the other hand, the losers were InterGlobe Aviation, Eternal (Zomato), Trent, Bharti Airtel, and Apollo Hospitals.

Sector Performance

In terms of sector performance, the metal and media indices rose 0.4% each, while the IT, capital goods, realty, consumer durables, PSU Bank, and private bank indices declined 0.5-1 percent.

Stock-Specific Action

• Kalpataru Projects shares fell 1% despite winning new orders of Rs 2,003 crore.
• Highway Infrastructure share price gained 2.5% on LoA worth Rs 328.8 crore.
• Godrej Industries shares added 1% after arm signs MoU with Government of Telangana.
• Adani Green shares down 1% post 2.24 crore shares block deal.
• IRB Infrastructure Developers shares added 1% after toll collection rises 15.8% in November.

Market Trends and Outlook

The Nifty is currently placed at the support of 25,700-25,600 levels, which is the previous opening upside gap of 12th Nov and also the 10-week EMA. A breakdown of this support could possibly open broad-based weakness in the market. However, any bounce back from here could find resistance around 25,900-26,000 levels.

The FOMC meeting outcome is expected to have a significant impact on the market trends. The Indian stock market is closely watching the US Federal Reserve decisions, which could influence the global market trends and the Indian economy.