The Indian stock market closed with mild losses during Wednesday’s session, December 24, as sharp losses in IT stocks capped gains, and a lack of fresh triggers and thin year-end trading volumes also weighed on sentiment, with investors looking to the upcoming third-quarter earnings season for a confidence boost.
Overseas investors resumed their selling trend, remaining net sellers over the last two trading sessions after a brief pause, also keeping the sentiment weak.
The Nifty 50 ended the session with a decline of 0.14% at 26,140, while the S&P BSE Sensex shed 0.16% at 85,388. Broader markets were mixed, with the Nifty Midcap 100 index falling 0.7%, while the Nifty Smallcap 100 index rose 0.3%.
Tech stocks were the top laggards, with the Nifty IT index dropping 1% following amendments by the US Department of Homeland Security to the H-1B work visa selection process. Other sectors, including PSU banks, pharma, and realty, also closed in the red.
On the upside, media led the gainers, rallying 0.67%, followed by chemicals, metals, and FMCG, each surging 0.5%.
