Stock Market Today 08 Dec: The Indian stock market witnessed another decline today. Investors adopted a cautious approach ahead of the US Federal Reserve meeting scheduled for December 9-10. Market participants are keeping a close eye on global monetary signals, tariff developments, and geopolitical events, which could influence investor sentiment in the remaining weeks of the year.
Stock Market Today 08 Dec
The Nifty 50 index opened at 26,159.80, down 26.65 points or 0.10%, while the BSE Sensex opened at 85,624.84, down 87.53 points or 0.10%. Experts said that India’s domestic fundamentals remain strong and have been further supported by the interest rate cut by the RBI a few days ago. Investors are awaiting concrete developments on tariff-related issues before decisively participating in the year-end rally.
Nifty Midcap Index
In the broader market, the Nifty 100 opened 0.2 percent lower, and the Nifty Midcap and Smallcap indices followed suit, opening in the red, indicating pressure on non-index heavyweights.
Top Gainers and Losers Shares Today
All sectoral indices on the NSE showed mixed performance in the opening session. The Nifty IT, Media, and Metal sectors started on a positive note, while several sectors witnessed selling pressure. The Nifty Auto fell 0.3 percent, the Nifty FMCG traded flat in the red, and the Nifty Pharma declined 0.29 percent, reflecting selective participation from investors.
IndiGo Share Sink
Shares of InterGlobe Aviation, the parent company of IndiGo Airlines, fell sharply in early trading, dropping 6.6 percent to a low of ₹5,015 on the BSE. However, the stock later recovered, and at around 9:45 AM, it was trading at ₹5,159.50, down ₹211 or 3.93 percent. The Directorate General of Civil Aviation (DGCA) stated that the airline’s large-scale flight cancellations last week caused inconvenience and disruption to passengers across the country. This sell-off came after the DGCA extended the deadline for IndiGo Airlines to respond to a show-cause notice regarding its recent flight disruptions.
Meesho IPO Update
Meanwhile, the IPO market remains active with strong investor interest. The Meesho IPO allotment will be finalised today. It was oversubscribed 23.33 times, with the retail segment subscribed 15 times, QIBs 17 times, and NIIs 28 times. The e-commerce platform’s IPO was priced in the range of Rs 105 to Rs 111 per share, with an issue size of Rs 5421 crore, which closed yesterday.
