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Indian stock market opened positively on Tuesday, December 23, but turned red shortly after. BSE Sensex fell 163 points, while NSE Nifty dropped below 26,135. PowerGrid, Tata Steel, and Titan were top gainers, while TCS, Tech Mahindra, and Asian Paint were top losers.
Sensex and Nifty Turn Red After Flat Opening
Mumbai: The Indian stock market, on Tuesday, December 23, the second trading day of the week, opened positively but soon turned negative. The BSE Sensex and NSE Nifty 50 saw an initial surge in early trading, but the market quickly reversed course as investors turned cautious and engaged in profit-taking.
At 9:15 AM, the Sensex opened 122.62 points or 0.14% higher at 85,690.10. The Nifty 50 was trading 32.80 points or 0.13% higher at 26,205.20. However, within minutes, the Sensex slipped 127 points to 85,439 and the Nifty fell 21 points to 26,151.
Stock Market Update: Sensex slides 126 points as Stocks open in red; Nifty also falls
The top gainers on the BSE included Power Grid, Tata Steel, Titan, and NTPC. The top losers were TCS, Tech Mahindra, Eternal, and Asian Paints. The shares of these companies reflected the initial volatility and the selling pressure from investors.
On Monday, December 22, the Indian stock market witnessed a strong rally. The Sensex closed 638.12 points or 0.75% higher at 85,567.48, while the Nifty 50 closed 206.00 points or 0.79% higher at 26,172.40. In the BSE basket, Trent, Bharti Airtel, Tech Mahindra, HCL Tech, and Sun Pharma were among the gainers, while SBIN, Kotak Bank, and Bajaj Finance were among the losers.
On Monday, Nifty IT, Nifty Smallcap 100, Nifty FMCG, Nifty Bank, Nifty Auto, and Nifty 100 indices saw gains. Out of the 30 stocks in the BSE basket, 25 closed in the green and 5 in the red. Investors sold off some key stocks to book profits.
Indian Stock Market opens positive; Sensex jumps 176 points, Nifty crosses 25,916
Experts believe that market volatility is common, and investors should avoid making investment decisions based on emotions. Given the market's movements, focusing on long-term investments would be a better strategy. Meanwhile, small investors should adopt careful portfolio management to navigate the initial fluctuations.
The market opened positively at the beginning of the week but quickly turned negative. The Sensex and Nifty registered marginal declines, while some key sectoral stocks saw a mixed effect of gains and profit-taking. According to experts, investors should focus on long-term trends and not be swayed by short-term fluctuations.
