Stock market today: Nifty50 ends below 26,050; BSE Sensex down over 360 points

Stock market today: Indian equity benchmark indices, Nifty50 and BSE Sensex, tanked in trade for a third consecutive session on Friday, ending in red. Nifty50 ended the day at 26,042.30, down 100 points or 0.38%. BSE Sensex closed at 85,041.45, down 367 points or 0.43% after slipping to an intraday low of 84,937.82.The stock market sentiment was weighed down by continued selling by foreign investors and the absence of any strong domestic cues.Vinod Nair, Head of Research, Geojit Investments Limited says, “Domestic equities ended lower today as thin year‑end trading volumes and a cautious mood ahead of upcoming earnings prompted broad-based profit booking. The optimism around the Santa Claus rally has diminished amid the absence of fresh catalysts, such as progress on a possible US‑India trade agreement, while continued FII outflows weighed on the Indian rupee. Large‑cap stocks underperformed mid- and small-cap counterparts, though selective strength persisted in metals and consumer durable stocks, while IT, autos, and banks witnessed sustained selling pressure."Among Sensex constituents, Bajaj Finance, Asian Paints, HCL Tech, Tata Consultancy Services, Eternal and Sun Pharma were the top losers. In contrast, Titan, NTPC, Axis Bank, UltraTech Cement, Reliance Industries and Hindustan Unilever ended the day as top gainers.Asian markets largely closed higher, with gains in South Korea’s Kospi, Japan’s Nikkei 225 and China’s Shanghai Composite, while trading was shut in Hong Kong. European markets remained closed on Friday, and US markets were shut on Thursday on account of the Christmas holiday.According to exchange data, foreign institutional investors sold equities worth Rs 1,721.26 crore on Wednesday, while domestic institutional investors were net buyers to the tune of Rs 2,381.34 crore.In the commodities market, Brent crude oil rose 0.31 per cent to USD 62.43 a barrel.In the previous session on Wednesday, the Sensex had slipped 116.14 points, or 0.14 per cent, to end at 85,408.70, while the Nifty fell 35.05 points, or 0.13 per cent, to 26,142.10. Domestic equity markets were closed on Thursday for Christmas.(Disclaimer: Recommendations and views on the stock market, other asset classes or personal finance management tips given by experts are their own. These opinions do not represent the views of The Times of India)