Sensex sheds 236 pts, Nifty 24,549 as investors await India CPI data

The domestic share market indices traded lower on Thursday driven by optimism surrounding a possible U.S. rate cut, while broader market weakness persisted as investors awaited India's inflation data. At close, the Sensex was down 236.18 points or 0.29 percent at 81,289.96, and the Nifty was down 93.10 points or 0.38 percent at 24,548.70.
Adani Enterprises, Tech Mahindra, IndusInd Bank, Bharti Airtel, Adani Ports were the top gainers on the Nifty, while losers included NTPC, Hero MotoCorp, HUL, Coal India and BPCL.On the sectoral front, Except IT, all other sectoral indices ended in the red with Media index down 2 percent and FMCG index shedding 1 percent.BSE Midcap index shed 0.5 percent and Smallcap index was down 1 percent.
Rupee Close:
On 12 Dec'24,the Indian rupee depreciated by 4 paise to settle at an all-time low of 84.87  against the US dollar on Thursday, dragged down by negative domestic equity markets, outflow of foreign funds and rise in crude oil prices. Forex traders reportedly stated investors were awaiting cues from domestic inflation data to be released later in the day even as an elevated dollar index weighed on the Indian currency.
Trading Guide:
Vinod Nair, Head of Research, Geojit Financial Services reportedly quoted as saying,the market continued to remain range bound ahead of domestic CPI data and weakening rupee. Though inflation is anticipated to drop, investors are maintaining a close vigil on the vegetable prices, which will determine the future rate trajectory. Meanwhile, the Nifty IT index reached a new high after US inflation data met expectations, boosting hopes for a Fed rate cut next week.
Markey experts have recommended five shares to buy-Bank of India, MCX, RailTel Corp, RCF, and HDFC AMC.

(Business Correspondent)