Day trading guide for stock market today: Six stocks to buy or sell on Tuesday — 19th December
Day trading guide for today: After logging gains for seventh week in a row, Indian stock market ended lower on Monday. Nifty 50 index finished 38 points down at 21,418 levels, BSE Sensex corrected 168 points and closed at 71,315 mark while Bank Nifty corrected 275 points and finished at 47,867 levels. In broad market, small-cap index gained 0.48 per cent while mid-cap index added 0.28 per cent.
"Domestic equities traded lackluster today as profit booking was seen after a sharp rally over last three sessions. Global markets were also trading cautiously ahead of BoJ’s meeting on Tuesday, where the central bank may announce the plan to end its ultra-loose monetary policy. Nifty ended the session with loss of 38 points at 21419 levels.
The broader market however ended in green with Midcap100/SMallcap100 up 0.2%/0.6%. Sector wise it was a mixed bag with Pharma, Auto, Metals, Infra being marginal gainers. Banking and IT stocks took a breather as the sentiment was dampened after several Fed officials hinted that the U.S.
Federal Reserve might not cut rates next year. Niche sectors like sugar, shipping and defense stocks were in focus today. Sugar stocks bounced back after the government allowed sugar mills to use both sugarcane juice and B-heavy molasses to produce ethanol while strong domestic order lifted defense stocks," said Siddhartha Khemka, Head - Retail Research at Motilal Oswal.
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