Lagatar24 Desk
Mumbai, Dec.30: Mixed global cues led the Indian equity indexes moved lower on Thursday, December 30, on F&O expiry day, as well as derivate expiry. The BSE Sensex was trading in the negative below 57,780, while the Nifty 50 index fell below 17,200. In early trading, index heavyweights such as Reliance Industries and HDFC Bank fell.
The top gainers were Wipro, Tata Consumer Products, Eicher Motors, and Power Grid Corporation of India. Bajaj Auto, Bajaj Finserv, Sun Pharma, Indian Oil Corporation, and Hero MotoCorp, on the other hand, were the biggest losers on the NSE.
The Nifty Midcap 100 index fell 0.11 percent, while the Nifty Smallcap 100 index increased 0.30 percent, indicating that mid- and small-cap stocks were mixed.
MSCI’s broadest index of Asia-Pacific stocks outside of Japan remained unchanged on the day and down 6% year-to-date. As Beijing tightened regulations on the sector, Chinese blue chips have also lost 6%, led by huge drops in tech stocks.
On Thursday, Japan’s Nikkei fell 0.7 percent, leaving it with a small gain of 4.6 percent for the year and some distance from a three-decade high achieved in September.
In early trading, S&P 500 futures were down 0.2 percent, while Nasdaq futures were down 0.3 percent.
Back home, prominent airline business IndiGo (listed as InterGlobe Aviation Ltd) will be in the spotlight today, as it holds its extraordinary general meeting (EGM). Shareholders are expected to vote on altering the company’s Articles of Association, which has been a source of contention between Rahul Bhatia and Rakesh Gangwal since the company’s founding.
Even though the economy has steadily gained speed and remained resilient since the second quarter of the current fiscal, the Omicron type of coronavirus remains the key problem, combined with rising inflation pressures, according to the Reserve Bank of India’s (RBI) economic stability report.
