10 Things To Know About Sensex, Nifty Trade Today
1) Some profit-taking was seen in banking and auto stocks after their sharp rally over the past few sessions.
2) Markets were also cautious ahead of the release of the minutes from the Reserve Bank of India's policy meeting earlier this month.
3) Maruti Suzuki shares hit a new high of Rs 10,000 during the day before ending 0.70 per cent lower at Rs 9,737 on BSE.
4) Auto stocks had zoomed in the past few sessions on expectations that the government will focus on rural growth in the upcoming Budget.
5) HPCL, Ambuja Cements, Bharti Airtel and Dr Reddy's Lab were among the top Nifty50 losers.
6) Infosys, Wipro, ONGC and Hindalco were among the top gainers, rising around 1 per cent.
7) Going ahead, with assembly elections out of the way, focus will now shift to macros and earnings recovery, say analysts.
8) Third-quarter earnings of India Inc and the Union Budget will be key factors to watch over next couple of months, according to analysts. Infosys, India's second largest software services firm, will announce its earnings for the October-December quarter on January 12, kicking off the Q3 earnings season.
9) Market participants don't rule out some year-end profit-taking from foreign institutional investors. "The structural bull market sentiment will continue, however some year-end profit taking by FIIs cannot be ruled out," said Anita Gandhi, whole-time director of Arihant Capital Markets.
10) Global markets today wavered just below recent record highs. The Republican-led US Senate yesterday approved the sweeping $1.5-trillion tax bill. A re-vote by the House of Representatives was scheduled for later in the day. European stock markets nudged lower, with blue-chip indexes in Germany, France and Britain flat to a touch weaker on the day.