Sensex, Nifty50 end lower on weak US consumer data – FMCG, metals, auto lead losses

• The Sensex closed 0.31%, or 187 points, lower at 60,858 while the Nifty50 ended 0.32%, or 57 points, lower at 18,107.
• Adani Enterprises, Asian Paints, Tata Motors, IndusInd Bank and Adani Ports & SEZ were the top five losers on the Nifty50 index.
• The US markets logged their worst day in over a month on Wednesday after retail sales declined in the holiday month of December.

India’s benchmark indices ended slightly lower on Thursday as sentiment turned sour after weaker-than-expected US economic data and the US Federal Reserve’s hawkish comments. The fall was led by losses in the FMCG, metals and auto sectors.

The Sensex closed 0.31%, or 187 points, lower at 60,858 while the Nifty50 ended 0.32%, or 57 points, lower at 18,107.

“Domestic indices snapped their previous gains amid negative sentiments from their global counterparts. Weak US consumer data and hawkish comments from the Fed's policymakers on Wednesday hammered investor risk appetite. Lingering fears of recession dragged global bourses down, leaving the market volatile,” said Vinod Nair, head of research at Geojit Financial Services.

The US commerce department on Wednesday reported a 1.1% drop in retail sales in December after it fell 1% in November. Reports say that economists had expected retail sales to decrease by 0.8% in December.

Besides that, St. Louis Fed President James Bullard and Cleveland Fed President Loretta Mester stressed on the need to raise interest rates beyond 5%.

Adani Enterprises (-3.7%), Asian Paints (-3.1%), Tata Motors (-1.9%), IndusInd Bank (-1.8%) and Adani Ports & SEZ (-1.7%) were the top five losers on the Nifty50 index.

On Wednesday, the Sensex and the Nifty50 ended 0.6% higher led by gains in the metals, pharma and financial services counters.

Here are the top movers on the Nifty500

Top gainers	% change	Top losers	% change
Persistent Systems	7.54%	Rallis India	-8.80%
Prism Johnson	5.47%	Adani Green Energy	-6.80%
KEI Industries	4.97%	Torrent Power	-4.96%
Mahindra Lifespace Developers	4.95%	Praj Industries	-3.93%
Swan Energy	4.93%	Adani Enterprises	-3.70%

The US equity markets logged their worst day in over a month on Wednesday after retail sales declined in the holiday month of December. The Dow Jones Industrial Average closed 1.81% lower while the S&P 500 declined 1.56%. The tech-heavy Nasdaq closed 1.24% lower.

“The uncertain global market environment coupled with a hawkish stance by the US Fed officials on interest rate hikes kept the mood gloomy throughout the trading session. Although inflation is showing signs of some moderation, concerns over a likely recession in the US and western economies is prompting investors to turn risk-averse toward equities,” said Shrikant Chouhan, head of equity research (retail) at Kotak Securities.

Asian markets ended mixed with Nikkei losing 1.44% and Hang Seng down 0.12% while Shanghai SE Composite Index rose 0.49% and Taiwan TSEC 50 Index was up 0.04%.

The Rupee settled 7 paise lower at 81.37 against the US dollar on Thursday. Meanwhile, Brent crude oil price fell 0.82% to $84.30 per barrel.

On Thursday, domestic institutional investors (DIIs) sold ₹128 crore worth of equities while foreign institutional investors (FIIs) bought ₹399 crore.

Sectoral indices	% change
Nifty Media	-1%
Nifty FMCG	-0.86%
Nifty Metal	-0.56%
Nifty Private Bank	-0.46%
Nifty Auto	-0.43%
Nifty Bank	-0.30%
Nifty Pharma	-0.28%
Nifty Realty	-0.09%
Nifty Financial Service	-0.07%
Nifty IT	0.05%
Nifty PSU Bank	0.33%

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