The Indian stock market was closed on Wednesday, December 25, for Christmas. On Tuesday, the main stock indices in India ended slightly lower. Big losses in important financial and IT companies covered up some gains in consumer goods and car companies. With fewer major events expected this week, experts think the stock market will move within a tight range after a bounce back on Monday from a tough week.
The benchmark BSE Sensex dropped by 67.30 points, or 0.09%, finishing at 78,472.87. Meanwhile, the broader Nifty 50 index closed at 23,727.65, down 25.80 points, or 0.11%.
Vinod Nair from Geojit Financial Services said the market ended flat before the holiday. He mentioned that metal and power stocks brought down performance, while sectors like consumer goods and automobiles showed some strength after previous drops. Nair also said the market’s direction will largely depend on the upcoming third-quarter results and the government’s budget. However, concerns like a strong US dollar, high bond yields, and worries about interest rate cuts are making traders cautious
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