Indian shares closed slightly lower on Wednesday, as investors stayed cautious before the Christmas holiday.
Market Snapshot
The Sensex slipped 116 points, or 0.14%, to finish at 85,408.70. The Nifty 50 fell 35 points, or 0.13%, ending at 26,142.10.
Key Stock Movers
- Tata Motors PV – down about 0.8%
- Sun Pharmaceutical Industries – down about 0.9%
- Asian Paints – down about 0.7%
- Reliance Industries – down about 0.6%
- Hindustan Unilever – down about 0.5%
IT Sector Hit by Visa Rule Change
IT shares fell roughly 0.5% after the U.S. Department of Homeland Security announced a tweak to the H‑1B visa lottery, shifting preference toward higher‑paid, highly skilled workers.
Market Breadth
Small‑cap stocks edged up 0.3%, while mid‑cap stocks slipped 0.6%, showing mixed sentiment across different market segments.
Expert Take
Vinod Nair, head of research at Geojit Investments, said the market’s flat movement reflects thin trading ahead of the holiday and that recent RBI liquidity moves, such as open‑market operations and a USD/INR swap, should help keep currency volatility in check.
Global Market Context
US equities stayed near record highs, boosted by a strong third‑quarter GDP reading, while European markets were mixed. Asian indexes rose, with the MSCI Asia‑Pacific (ex‑Japan) gaining 0.4% for the day and up 26% year‑to‑date.
Oil and Currency Updates
Crude oil prices rose modestly for a sixth day, with Brent at $62.53 a barrel and WTI at $58.56, as concerns linger over supply from Venezuela and Russia. The Indian rupee slipped about 0.1% to 89.7850 per U.S. dollar, offsetting gains in other Asian currencies.
Remember, this is just perspective, not a prediction. Do your own research before making any investment decisions.