Stock Market Dives Amid Profit Booking; PSU Banks, Metals, Realty Top Drags

The Indian stock market after trading at lifetime highs on December 20, 2023 witnessed some strong profit booking. At 13:38 hours, Sensex declined 167 points at 71269 mark while Nifty shed 45 points and was trading at 21,407 level.

As the market edged lower, all sectors barring the FMCG index were trading in the red. The sectors which pulled the market lower included PSU Bank index, Realty and Metals.

The top losers from the PSU Banking space included Indian Overseas Bank, Punjab & Sind Bank, Central Bank of India, Maharashtra Bank and UCO Bank which dipped 4-6 percent each.

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Top Nifty Gainers: Tata Consumer, ONGC, Britannia Industries, HDFC Bank, Hero MotoCorp

Top Nifty Losers: Adani Ports, Adani Enterprises, UPL, Tata Steel, Coal India

Most Active Stocks in terms of Volumes: ONGC, Tata Steel, Coal India, NTPC, State Bank of India

On the other hand, the top losers from the realty space included Godrej Properties, Mahindra Lifespace, Oberoi Realty and DLF which shed 1-2 percent each.

Metal stocks also edged lower. The top losers included Welspun Corp, NALCO, SAIL, Hindustan Copper, Adani Enterprises and Vedanta which fell 2-4 percent each.

Nifty Media was also under pressure. The top losers included Dish TV, Hathway, DB Corp, Zee Entertainment and PVR Inox. The stocks shed 2-7 percent each.

_{Disclaimer: The information provided in this blog post is for informational purposes only and should not be construed as investment or trading advice. The author is not a financial advisor and does not have any professional qualifications in this area. The author does not guarantee the accuracy or completeness of the information provided. Any action you take based on the information in this blog post is done at your own risk. Please consult with a financial advisor before making any investment decisions.}