Sensex Finishes Marginally Lower; Bharat Forge Rallies 3.3%

Indian share markets continued to trade below the dotted line in the afternoon session and finished marginally lower as the RBI monetary policy panel starts its two-day meeting.

At the closing bell, the BSE Sensex closed lower by 67 points and the NSE Nifty finished lower by 10 points. The S&P BSE Mid Cap finished up by 0.6% while S&P BSE Small Cap finished flat. Losses were largely seen in metal sector, capital goods sector, and power sector.

Asian stock markets finished broadly lower today with shares in Hong Kong leading the region. The Hang Seng is down 1.01% while Japan’s Nikkei 225 is off 0.37% and China’s Shanghai Composite is lower by 0.18%. European markets are mixed. The FTSE 100 is higher by 0.27%, while the CAC 40 is leading the DAX lower. They are down 0.23% and 0.06% respectively.

Rupee was trading at Rs 64.37 against the US$ in the afternoon session. Oil prices were trading at US$ 57.23 at the time of writing.

As per an article in The Economic Times, a public relation firm Fortuna Public Relations has approached Mumbai bench of National Company Law Tribunal (NCLT) against Anil Ambani-run Reliance Communications for insolvency proceedings, alleging the telecom operator failed to its pay dues. The NCLT plans to hear the case on December 19.

Meanwhile, Fitch on Tuesday withdrew Reliance Communications’ rating for commercial reasons. Accordingly, the rating agency will no longer provide ratings or analytical coverage for RCom.

Rcom share price finished the day down by 1.2% on the BSE.

In news from the auto ancillary sector, Bharat Forge share price rallied over 3.3% after strong trend continued in North America class 8 truck orders in November.

North America class 8 truck orders for the November month were at 32,387 units, a massive growth of 68% over 19,285 units in year-ago.