The Indian stock market closed lower on Monday amid mixed global cues.
At closing, Sensex settled at 81,748.57, down by 384.55 points, or 0.47 per cent, and Nifty ended at 24,668.25, down by 100.05 points, or 0.40 per cent.
The national market traded in a range-bound manner while the realty sector outperformed in expectation of growing demand and a potential rate cut cycle in 2025, said market experts.
A rise in manufacturing and service PMI suggests a positive turnaround of H2 FY25 earnings and may limit further downgrades in FY25 earnings.
"Rising US 10-year bond yields and a strengthening dollar led investors to remain watchful of the upcoming US Fed policy and its commentary for 2025 rates," the experts added.
Nifty Bank finished at 53,581.35, down by 2.45 points or 0.00 percent. The Nifty Midcap 100 index closed at 59,443 at the closing time of the trading session, as it had increased 451.50 points, or 0.77 per cent.
Nifty Smallcap 100 index ended at 19,531.05 with a rise of 123.75 points, or 0.64 percent.
The Bombay Stock Exchange ended with 2,338 shares in the green; 1,802 ended red and did not alter 100 shares.
In sectors, buying saw the light on Auto, PSU Bank, Pharma, Realty, Media, and Private Bank at Nifty.
In the Sensex pack, Titan, UltraTech Cement, NTPC, TCS, Bharti Airtel, Tech Mahindra, Infosys, Hindustan Unilever, JSW Steel, HCL Tech, Tata Steel, Tata Motors, HDFC Bank, and Nestle India were the top losers. IndusInd Bank, Bajaj Finance, Power Grid, M&M, and Axis Bank were the top gainers.
The market is currently waiting for the US Federal Reserve (FED) scheduled for December 17-18. The rupee traded at 84.87 as the dollar strengthened, holding above the $106.50 mark. The rupee's trading range is expected to remain between 84.75 and 85.00 amid these developments, said experts.
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