After starting the day on a negative note, the benchmarks dragged further as the session progressed and ended the day on a weak note.Benchmark equity indices BSE Sensex and NSE Nifty 50 witnessed a sharp correction, selling down by over 1 percent each, weighed by selling across the counters.At the closing bell, the BSE Sensex stood lower by 1,064 points (down 1.3%).Meanwhile, the NSE Nifty closed lower by 332 points (down 1.4%).Cipla was the top gainer today.Grasim Industries, Bharti Airtel, and JSW Steel on the other hand, were among the top losers today.The GIFT Nifty ended at 24,417 down by 289 points.The BSE Mid Cap ended flat and the BSE Small Cap index ended 0.5% lower.Sectoral indices are trading negatively with stocks in the metal sector, auto sector, and telecom sector witnessing selling pressure.The rupee is trading at 84.89 against the US$.Gold prices for the latest contract on MCX are trading 0.5% lower at Rs 76,670 per 10 grams.Meanwhile, silver prices are trading 0.9% lower at Rs 90,333 per 1 kg.Here are three reasons why Indian Markets are falling today#1 Fed Meet JittersInvestors chose to stay on the sidelines ahead of the US Federal Reserve’s monetary policy outcome on Wednesday, 18 December. While expectations are ripe of a quarter-point rate cut from the Fed on Wednesday, uncertainty over the Fed’s rate cut path in 2025 persists.#2 FII Selling FearsThe market is under pressure amid reports that China is planning to increase its budget deficit from 3 percent to 4% in 2025, which is likely to pressure the FIIs’ inflow in India as the market expects a rise in the stimulus package.This comes amid FIIs turning net buyers in the Indian stock market after two months of back-to-back selling.#3 Trade Deficit SpikeThe sharp spike in India’s trade deficit to $37.8 billion in November will put pressure on the rupee pushing it towards 85 to the dollar.#4 Weak Global market CuesAsian stocks wobbled as traders braced for a slate of central bank meetings this week. In stock markets, Australian shares rose 0.8%, with Japan’s Nikkei down 0.2%. MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.3%.
 Why Gas Stocks are FallingIn the news, Gas companies took a tumble on the bourses on 17 December, after reports suggested the inclusion of gas in GST would not be on the agenda of the upcoming GST Council meeting.The 55th GST Council meeting is scheduled to be held on 21 December 2024.Among the issues to be discussed, expectations are that the Council will review the GST imposed on life and medical insurance, luxury items, and sin goods.Petrol and diesel are not yet taxed under GST, along with natural gas and aviation turbine fuel (ATF).After the implementation of the GST, both states and the Centre gave up the right to unilaterally impose taxes on various sectors with the former left with three crucial avenues to raise revenues – liquor, land, and fuel.
 Gravita Shares Jumps 7%Moving on, shares of lead and aluminum recycling company Gravita India shares jumped 7% on 17 December after the firm launched a Qualified Institutions Placement (QIP).The QIP would result in an equity dilution of 5.2%.The firm received approval from its board to raise funds to an aggregate amount of Rs 100 bn on 4 October 2024.The floor price for the QIP has been set at Rs 2,206.49 per share, which comes at a 1.5% discount to the previous session’s closing price.This fundraising will likely be used to repay outstanding borrowings, meet working capital requirements, additional capex, M&A opportunities, debt reduction ,and other general corporate purposes.The company is on track to set up a pilot project of lithium-ion battery recycling, and its first rubber recycling plant in Mundra. Gravita India said it is making steady progress towards increasing its capacity to over 5 lakh metric tonnes per annum by FY27.Oriana Power Signs MoUMoving on to news from the power sector, shares of SME renewable energy solutions player Oriana Power surged 9%t in trade after signing a Memorandum of Understanding (MoU) with the Government of Rajasthan for various renewable energy projects worth Rs 100 bn.Interestingly, the MoU of Rs 100 bn is nearly double this SME player’s total market of Rs 53.4 bn.These include solar power, floating solar, green hydrogen, and energy storage solutions.The discussions with the Government of Rajasthan to identify potential renewable energy investment opportunities kicked off in November 2024.Following this, Oriana Power finalized the agreement on the scope of collaboration, culminating in the formal signing of the MoU on 4 December 2024.More By This Author:Sensex Today Trades Lower; Nifty Below 24,650
Sensex Today Ends 384 Points Lower; Nifty Below 24,700
Sensex Today Trades Lower; Nifty Below 24,800