Sensex Today: Indian indices opened flat on December 7. The BSE Sensex fell 30 points to 62,592 and the NSE Nifty50 fell 12 points to 18,630.
HCL Tech, Wipro, NTPC, TCS, Tech M, Kotak Bank were the biggest laggards on the Sensex, up 0.7 percent, while ONGC was the biggest loser.
On the other hand, Asian Paints, L&T, ICICI Bank, SBI, Ultratech Cement, Sun Pharma, Cipla and BPCL were the biggest winners of the two indices.
The broader markets, meanwhile, outweighed the frontline indices. The BSE MidCap and SmallCap indices rose to 0.2 percent.
Dr. UK Vijayakumar, Chief Investment Strategist at Geojit Financial Services, said: “The short term signals have turned negative again with weakness in the parent market, the US. Rumors of a longer-than-expected recession are back and negative comments from influential voices like Jamie Dimon’s are impacting sentiment. In such a scenario, there are no positive triggers that can take the market much higher from here. As India’s resilient growth looks impressive, the market is unlikely to take a sharp plunge. Buying will arise on declines. Leading PSB banks have the potential to rise further and valuations are still attractive. Investors can buy high quality capital goods and cement stocks at current levels.”
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