Markets fall for 5th day; Sensex sheds 523 pts, Nifty ends near 19,100

Closing Bell on October 25, 2023: In the broader market, the BSE MidCap index slipped 0.52 per cent and the BSE SmallCap 0.77 per cent as against the frontline indices' 0.8 per cent decline

Stock market highlights: Equity markets crumbled for a fifth day on Wednesday as broad-based selling hurt sentiment. The S&P BSE Sensex dropped 523 points to end at 64,049, while the Nifty50 fell 160 points to close at 19,122.

The indices hit intraday lows of  63,912 and 19,074 levels, respectively. The S&P BSE Sensex has lost nearly 3 per cent thus far in October, and down almost 6 per cent from its 52-week high level of 67927.23 hit on September 15, 2023 ARE MARKETS IN OVERSOLD?

Cipla, Apollo Hospitals, NTPC, Adani Enterprises, SBI Life, Divis Labs, Tech M, Bharti Airtel, ICICI Bank, HDFC Life, Tata Motors, Infosys, IndusInd Bank, Eicher Motors, L&T, Bajaj Finance. Grasim, and Bajaj Auto fell over 1 per cent each.

In the broader market, the BSE MidCap index slipped 0.52 per cent and the BSE SmallCap 0.77 per cent  as against the frontline indices' 0.8 per cent decline. 

Among sectors, the Nifty Metal and PSU Bank indices were the only gainers, rising up to 0.1 per cent. The Nifty Realty, IT, and Media indices, meanwhile, fell over 1 per cent each. 

3:58 PM

Market strategy :: What should be traders strategy in this market?

Nifty has breached the lower band i.e. 19,200 of the broadening formation and now the next crucial support comes at 200 EMA, which currently lies around 18,830 levels. And, it also coincides with the neckline (breakout) area of the previous consolidation range. Meanwhile, global cues and the scheduled expiry of October month derivatives contracts would add to the choppiness. Traders should align their positions accordingly and prefer index majors over others. 

Views by: Ajit Mishra, SVP - Technical Research, Religare Broking

3:57 PM

Comment :: 'Investors adopting cautious approach due to expectation of higher interest rate'

Investor sentiment is on edge as tensions in West Asia continue to drag the market. Despite a drop in oil prices and an optimistic view of the progressing Q2 results season, investors took a cautious approach due to the expectation that a higher interest rate scenario would continue slowing future growth.

However, a positive strategy is evident on large-cap stocks, amid growing geopolitical worries and valuation concerns in mid- and small-cap stocks, as overall earnings growth is being sustained.

Views by: Vinod Nair, Head of Research at Geojit Financial Services

3:54 PM

IPO Update :: Blue Jet Healthcare sails through halfway mark on Day 1

3:52 PM

Bond market :: 10-year bond yield eases Wednesday

3:51 PM

Currency check :: Rupee ends flat at 83.19/$

3:49 PM

Buzzing stock :: Welspun India soars over 11% post Q2 results

3:48 PM

Buzzing stock :: Mahindra Logistics declines 2% on surprise Q2 loss

3:46 PM

Buzzing stock :: Delta Corp surges over 3% as Bombay HC restrains Rs 16,000-cr GST notice

3:44 PM

Broader market :: BSE MidCap index slips 0.5%

3:43 PM

Broader market :: BSE SmallCap index down 0.7%

3:42 PM

Sectoral trends :: Metal, PSU Bank indices rise 0.1% each

3:41 PM

Nifty Losers :: Apollo Hospitals, Adani Ent, SBI Life fall 2% each

3:39 PM

Nifty Gainers :: Tata Steel, Coal India, Hindalco buck weak market trend

3:38 PM

Sensex Heatmap :: 24 of 30 stocks bleed; Airtel, Infy, TaMo top laggards

3:36 PM

Closing Bell :: Nifty ends near 19,100