The BSE Sensex slipped 120 points to settle at 84,559.65, while the NSE Nifty ended almost flat but in negative territory at 25,818.55. Markets struggled for direction through the session, reflecting caution ahead of global cues and persistent selling by foreign institutional investors (FIIs).
Sectorally, consumer durables and real estate shares witnessed the sharpest selling pressure, with investors booking profits after recent gains. Banking and FMCG stocks provided limited support, preventing a sharper fall in the benchmarks.
Asian markets offered mixed signals. Japan’s Nikkei 225 declined 0.3% to 49,237.58, while Hong Kong’s Hang Seng rose 0.2% to 25,291.44. China’s Shanghai Composite gained nearly 0.2% to close at 3,831.43, and South Korea’s Kospi advanced 0.7% to 4,028.93. Overnight in the US, the Dow Jones Industrial Average fell 0.62%, while the Nasdaq Composite gained 0.23% and the S&P 500 slipped 0.24%.
Investor focus remained on fund flow data. On December 16, FIIs sold equities worth ₹2,060 crore, extending their selling streak. So far this month, foreign investors have pulled out ₹23,455 crore from Indian equities. In contrast, domestic institutional investors (DIIs) continued to provide support, buying shares worth ₹770 crore on Tuesday and ₹42,839 crore so far in December.
Primary market activity also drew attention. KSH International Limited’s initial public offering opened on December 16 and will remain open until December 18. The company plans to raise ₹710 crore through a mix of fresh issue and offer-for-sale.
The market’s muted close followed a sharp decline on Tuesday, when the Sensex had dropped 534 points and the Nifty had fallen 167 points. Analysts said near-term market direction will hinge on global cues, currency movement and the pace of foreign investor selling.
