Benchmark indices broke the seven-day winning streak and ended lower in the volatile session on December 7. At close, the Sensex was down 132.04 points or 0.19 percent at 69,521.69, and the Nifty was down 36.50 points or 0.17 percent at 20,901.20.
About 1893 shares advanced, 1342 shares declined, and 81 shares unchanged.
A mixed trend was seen on the sectoral front with auto, healthcare up 0.5 percent each, oil & gas index up 1 percent and power index rose nearly 3 percent, while FMCG and Metal indices down 0.5 percent each.
BSE midcap index rose 0.7 percent and Smallcap index up 0.3 percent.
Adani Stocks Extend Rally: Group Market Cap Crosses Rs 15 lakh Crore
Adani Group stocks extended their rally on December 7 to touch new highs, taking the market capitalisation of the power-to-port conglomerate above Rs 15 lakh crore.
The rally got a further boost after a recent report said the US government did not find Hindenburg Research’s allegations of corporate fraud against the conglomerate relevant.
Another key trigger has been the group’s plan to invest Rs 7 lakh crore on capex over the next decade and Adani Green Energy securing a $1.36 billion loan from a consortium of eight international banks.
Paytm Share Price Tumbles:
Shares of Paytm traded over 18 percent lower on December 7 after the company announced plans to slow down its small-ticket postpaid loans while it looks to expand its high-ticket personal loans and merchant loans.
The non-bank lender said on December 6 it will expand its portfolio of high-ticket personal and commercial loans to lower-risk and high-credit-worthy customers.
Paytm’s plans to give out more higher ticket loans would not fully offset a scale back of smaller-ticket loans, analysts at Goldman Sachs said in a note. It downgraded the stock to ‘neutral’ from ‘buy’. The firm also lowered the price target to Rs 840 from Rs 1,250, the report said.
Most Active Stocks on NSE in Terms of Volumes:
Last Traded Price (Rs)
Asian Markets End Lower
Asia-Pacific markets slumped across the board, mirroring moves on Wall Street as investors assessed trade data from China and Australia.
In Australia, the S&P/ASX 200 narrowed losses, inching down 0.07% and ending at 7,173.3. Japan’s Nikkei 225 fell 1.76% to close at 32,858.31 after leading gains in Asia on Wednesday, while the Topix slid 1.14% to 2,359.91. South Korea’s Kospi shed 0.13% to finish at 2,492.07. Hong Kong’s Hang Seng index dropped 0.66%, paring losses in its final hour.
European markets slipped early Thursday, reversing gains seen in the previous trading session amid losses in the US and Asia-Pacific. The Stoxx 600 index was down 0.3% as almost all sectors declined.
FTSE slipped 0.18 percent and was trading at 7,502.21 while CAC shed 0.11 percent at 7,427.55 mark while DAX slipped 0.12 percent at 16,637.16 level.
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.
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