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On Thursday,  Sensex was fell 263 points to close at 25,980

Sensex, on Thursday, fell 263 points to close at 25,980. Indian stocks closed lower for the seventh straight session, posting their longest losing streak since March 2015 and, in the process, erasing all the gains for 2016, as worries about the impact of demonetization kept investors on edge. Among sectors, Consumer durables, Infra and Metals lost over 1.9% to 2.8% each. Among stocks, ONGC, Tata steel and Adani ports lost over 3.0% to 3.6% each. Market breadth was negative with 619 advances against 2,043 declines.

Nifty closed 82 points lower at 7,979. Today, we expect the markets to flat on the back of flattish global cues.

US Markets closed on a negative note. Dow closed 0.1% lower and Nasdaq lost 0.4%. U.S. stocks slid as the dollar pushed higher and Treasuries extended declines following the release of economic data that met or exceeded expectations. US markets, today, will see data releases on New Home Sales, Revised UoM Consumer Sentiment and Revised UoM Inflation Expectations.

Asian markets are trading on a negative note; Nikkei is trading 0.1% down, while Hang Seng is trading down 0.6%. SGX Nifty is trading 18 points down at 7,972. Indian ADRs ended the day on a negative note. Among financial ADRs, ICICI Bank closed 0.5% down, while HDFC Bank gained 0.5%. Among IT ADRs, Wipro lost 0.5%, while Infosys fell 1.2%. Tata Motors ADR lost 1.4%.

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Market falls for 7th day in a row; Nifty ends at 1-month closing low - TradeBizz Research

Indian stock indices fell for a seventh consecutive session on Thursday, their longest losing streak in one-and-a-half years, as blue chips such as SBI and Infosys continued to be hit by foreign funds’ selling. The S&P BSE Sensex and the CNX Nifty fell by 1.00%-1.02% each.

“The downturn accelerated today, with the benchmark equity indices breaking through some key support levels. The near-term outlook remains weak, with pressure on a few key heavyweight sectors like Banking, Auto and Energy,” stated Gaurav Dua, Head - Research, Sharekhan Limited.

Indian indices:

Indian equity markets ended lower for the seventh straight session on Thursday, with the benchmark BSE Sensex slipping below the psychological level of 26,000 and the NSE Nifty settling below the 8,000 mark amid sustained selling by foreign portfolio investors (FPI) and funds.

Persistent worries over slowing economic growth and subdued corporate earnings, along with weak cues from other Asian markets kept investors jittery ahead of the Christmas holidays.

During the day’s trade, the BSE Sensex touched intraday high of 26248.45 and intraday low of 25940.14, while the NSE Nifty touched intraday high of 8046.45 and intraday low of 7964.95.

Following are the stocks/sectors which were in news today:

KDDL advanced 4.40% after the company     said that it allotted 2.64 lakh zero coupon convertible warrants to a     promoter group entity.

The Phoenix Mills rose 2.05% after the     company said that the Canada Pension Plan Investment Board could acquire     up to 49% stake in the wholly-owned subsidiary of the company.

Empee Distilleries rose 2.34% after     the company said that its Board will meet on December 26 to     consider selling the company's stake in Empee Hotels.

Market sentiment:

The market breadth, indicating the overall strength of the market, was weak. On the BSE, out of total shares traded of 2940, advancing shares were 714, the declining shares were 2067 while 159 shares remained unchanged.

Sectoral & stock screening:

On the sectoral front, all the 13 sectoral indices ended in red, with Metals and Consumer Durables indices emerging as the top losers, falling as much as 2.78% and 1.9%, respectively.

Currency market:

Rupee ends at 67.99/$ against Wednesday's close of 67.91/$

Global signals:

US stock index futures show that the Wall Street is poised for a lower opening on Thursday.

European shares edged lower on Thursday, dropping further from their highest levels of the year, though Italian blue-chips outperformed as they shrugged off uncertainty over Monte Paschi's rescue plan.

Asian shares were a mixed bag on Thursday, as market volumes began to thin out in the run-up to the Christmas holidays, while trading was range-bound with many investors sitting on the sidelines.

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