The BSE Sensex closed the day at 33,573.22 today, down 27.05 points or -0.08 per cent, while NSE Nifty50 ended at 10,423.80 today, down 16.70 points or -0.16 per cent, amid heavy selling in FMCG, banking and energy stocks. Weak global cues and the US Fed's hint of a December rate hike weighed on investor sentiment.
The Benchmark indices settled flat today after hitting new highs in Wednesday's trade as some company results disappointed investors, but gains in pharmaceutical shares lent some support and helped the benchmark indices end the day on a flat note. The markets had hit record highs in the previous session, on continued optimism after the government's recent decision to inject more funds into state-run lenders.
A day after crossing the 10,400 level for the first time ever, the 50-share Nifty50 index closed in the red today and mostly remained inside the trading range of last session. In the process, the index formed a small-bodied red candle on the daily chart. However, before closing slightly down, the Nifty50 hit a fresh record high of 10,453 in intraday trade. The Nifty50 has been making higher top and higher bottom. Major trend of the market is going to be positive till it remains above the 10,380 mark. On the upside, hurdles are seen at 10,500 and then 10,550, while on the downside supports are seen at 10,350 and then 10,300-10,280 zone.