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Sensex Closes 271 Points Lower, Nifty Gives Up 10,700: 10 Things To Know
24 Dec 2018, 03:43 PM IST 
Twenty-four of the 30 Sensex stocks finished in the red.
- Top laggards on the Nifty50 were JSW Steel, Hero MotoCorp, Indian Oil Corporation and Bajaj Auto, closing with losses between 5.16 per cent and 2.86 per cent. All the Nifty sectoral indices except Nifty IT and Nifty PSU Bank ended with losses.
- Twenty-four of the 30 Sensex stocks finished in the red. Major drags on the Sensex were Hero MotoCorp, Bajaj Auto, NTPC and HDFC.
- Monday's session was marked with high volatility wherein the benchmark indices reversed direction on multiple occasions. During the session, Sensex registered a swing of 487.43 points trading within a range of 35,910.67-35,423.24.
- "From the GST point of view of course it's positive but right now the markets are volatile," news agency Reuters reported Harendra Kumar, managing director, Elara Securities, as saying. Last week, the GST Council reduced tax rates on over 20 items such as televisions, batteries and movie tickets.
- "Volatility due to various global factors but once the markets comes out of this, expect an upward momentum. We see Nifty hitting 12,300-12,400 in the next calendar year."
- ''Nifty took resistance at 11,000 and bulls were not able to cross the same mark… The next support for the index is placed near 10,500 mark as the bulls are not able to sustain above 10,750,'' said Dyaneshwar Padwal, AVP technical analyst at KIFS Trade Capital.
- US President Donald Trump's budget director and chief of staff said the partial US government shutdown could continue into January.
- Mr Trump privately discussed the possibility of firing Federal Reserve Chairman Jerome Powell, a move that would likely roil financial markets, news agency Reuters reported, citing sources.
- Meanwhile, on a net basis, foreign portfolio investors (FPIs) bought shares worth Rs 134.14 crore, while domestic institutional investors (DIIs) sold shares worth Rs 488.55 crore on Friday, provisional data showed.
- Stock exchanges will remain closed on Tuesday on account of Christmas.
(With agency inputs)