Taking Stock: Market ends lower amid volatility, metals fail to shine on Dhanteras

Taking Stock: Market ends lower amid volatility, metals fail to shine on Dhanteras

Stock Market Today



The market was back in the red on November 2, resuming its losing streak after a day’s break on weak global cues as investors remain cautious ahead of the Bank of England and Federal Reserve meetings.

The market started the day gap up but saw profit- booking to close lower on Dhanteras, an auspicious day for Hindus who buy gold, silver or utensils to mark the day.

At close, the Sensex was down 109.40 points or 0.18 percent at 60,029.06, and the Nifty was down 40.70 points, or 0.23 percent, at 17,889.

"Metal, oil and commodity stocks dragged, fuelled by profit-booking, while realty, PSU bank and consumer durables made frail attempts at lifting the indices," said Vinod Nair, Head of Research at Geojit Financial Services.

Succumbing to lacklustre global sentiments, domestic indices failed to gain ground oscillating between gains and losses in a rough session, Nair said.

Global markets remain jittery ahead of the Bank of England and Fed meetings, where the central banks could cease the pandemic-era stimulus, he said.

"Auto sector managed to remain buoyant despite weak auto sales numbers reported by sectoral majors due to supply chain disruptions, fuel price hikes and rise in input costs," Nair said.

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