Mid-day Mood: As investors remove money from the table, Sensex and Nifty trade lower for the second day.

Infosys Ltd.: Following the resignation of Chief Financial Officer Nilanjan Roy to pursue personal goals, the company's shares dropped 2.7% to Rs 1,439, a record low. Roy's resignation has hurt sentiment because it comes at a time when tier-I IT companies are experiencing a rise in the departure of top brass. Consequently, Infosys' American Depository Receipts (ADRs) decreased as well.

As of midday on December 13, the benchmark Sensex and Nifty maintained their losses from the previous session and were trading lower. Later today, investors are waiting for the US Federal Reserve to announce its monetary policy decision. They have been booking profits off of the recent stellar gains.

The Nifty was down 119.30 points, or 0.57 per cent, at 20,787.10, and the Sensex was down 383.87 points, or 0.55 per cent, at 69,167.16 around noon. 1,646 shares increased, 1,481 shares decreased, and 88 shares remained unchanged.

The broader market trend likewise stayed muted, with the Nifty Smallcap 100 and Nifty Midcap 100 indices exhibiting a flattish trajectory.

Sectoral Patterns

Automobile, infrastructural, and FMCG sectors remained muted due to the subdued market trend, while PSU banks, energy, metals, and banks traded with slight losses.

The information technology group continued to face pressure as a result of overnight losses in the Nasdaq Composite, which is heavy on technology. Among sectoral indices, the Nifty IT index suffered the most, falling more than 2 per cent.

The pharma index, which was trading slightly higher, was defying the trend.

Basic Perspective

"In spite of the tall valuations, there is a bullish undercurrent in the advertise for the close term. The advertise will stay strong due to the economy's development energy, DIIs' and retail investors' reliable buying, the FPI strategy's inversion from offering to buying, and great worldwide prompts, concurring to VK Vijayakumar, chief speculation strategist at Geojit Monetary Administrations.

Technical Perspective

The Nifty can find support at 20,900, 20,850, and 20,800 in that order. On the plus side, Choice Broking research analyst Deven Mehata noted that 21,020 could serve as an instant resistance, followed by 21,100 and 21,150.

According to the Bank Nifty's charts, support could come in at 47,000, 46,800, and 46,700. The first important resistance level to be aware of if the index rises is 47,250, which is followed by 47,500 and 47,600 "Mehata stated.

In the Spotlight

In November, US retail inflation increased by 0.1 per cent, as predicted by the market. The retail inflation rate increased by 3.1% year over year. In November, core inflation increased by 0.3 per cent, which was marginally higher than anticipated.

Key Nifty gainers

NTPC, Power Grid Corporation of India, Hero MotoCorp, Dr Reddy's Labs

Key Nifty losers

Infosys, TCS, HDFC Life, LTIMindtree

Key Sensex gainers

NTPC, Power Grid, IndusInd Bank

Key Sensex losers

Infosys, TCS, Bajaj Finserv

Stock moves

Adani Total Gas: As investors attempted to take advantage of the nearly 90% increase in the stock price over the previous month, shares fell by almost 10%.

Axis Bank: Following a Rs 3,465 crore block deal on the exchanges, shares dropped by more than 1%. Moneycontrol was unable to identify the buyers or sellers, but there were rumours that companies connected to Bain Capital were hoping to sell their stake through a block deal. Integral Investments South Asia IV, BC Asia Investments VII, and BC Asia Investments III may be among the sellers.

Sunteck Realty: Following a significant transaction in the counter valued at Rs 336.4 crore, the stock fell more than 5%.

Equitas Small Finance Bank: After a change in the company's top brass, shares increased by about 3%.