MARKET UPDATE:Sensex opened at 57,853.5 level,down 47.5 points while the Nifty at 17,221 levels, down 27 points
Published On: Friday, December 17, 2021 | By: Team KnowMyStock
Indian equities started off on a cautious note today(17th Dec.2021) amid the acceleration of bond-buying programmes by various central banks to fight off inflation and suck excess liquidity out of the system. After the US Fed, the European Central Bank, and the Bank of Japan have decided to hasten the asset purchase programmes. That apart, the Bank of England became the first global central bank on Thursday to raise the interest rate by 25 basis points. Against this backdrop, the S&P BSE or 0.08 percent. It's NSE counterpart Nifty50, too, quoted at 17,221 levels, down 27 points in early deals. In the broader markets, the BSE MidCap and SmallCap indices dipped 0.33 percent and 0.1 percent, respectively.
Individually, the shares of Wipro and Infosys gained 2.5 percent each while HCL Tech, Tech M, and TCS added up to 2 percent on the NSE. The rally came in the Indian IT stocks after global IT consulting firm Accenture Plc forecast better-than-expected second-quarter revenue on Thursday, as more clients seek its cloud and security services.
That apart, shares of IRCTC slipped about 1 percent even as the company said it has raised the frequency of Ahmedabad-Mumbai Tejas Express to 5 days. Nykaa shares also declined 2 percent on profit booking after the company said it will launch a partywear collection.
Indiabulls Housing Finance, meanwhile, dropped over 5 percent after promoter Sameer Gehlaut said he will step down from the board by the end of FY22.
Among sectors, the Nifty IT was the only index in the green, up 1.6 percent. All other sectoral indices were down 1 percent.
Tags: Indian equity market acceleration of bond-buying programmes by various central banks Sensex Nifty
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