Slump in stock market after seven days of gain

After seven consecutive days of gains, the stock market fell on December 10. Similarly, the Nifty fell by 50 points to close at 13,478 points. The Sensex fell by 143 points to close at 45959.88.

The decline in the global market was also reflected in the Indian market. The US market has been in a slump for the past day as the US has not made a decision on whether to introduce a new stimulus plan.

Shares of FMCG and metal gained while most other sectors declined. The Nifty FMCG index was up 2.81 per cent. Bank and auto stocks fell. At the same time, the market was seen recovering from low levels in the last hours.

The Nifty and the Sensex have been gaining for the last seven days. The stock market is moving to new record highs every day. It came to an end today.

Nifty has strong resistance at 11,600. Profits are likely to appear at this level and there is support at 13,000 points.

Most of the Nifty stocks lost ground. Out of the 50 stocks in the Nifty, 20 gained while 30 lost. Nestle India, ITC, Britannia, Hindustan Unilever and Adani Ports are the top five gainers in the Nifty today. Shares of Nestle India, ITC, Britannia and Hindustan Unilever gained over 3 per cent.