After showing sharp weakness on Tuesday, Nifty shifted into a consolidation on Wednesday and closed the day lower by 36 points. Nifty opened with a negative note and showed minor upside recovery from the lows in the early-mid part of the session. The market was not able to surpass the intraday hurdle around 24600 and turned down in the afternoon to later part of the session.

A small positive candle was formed on the daily chart with upper shadow. Technically, this formation indicates a type of bullish inverted hammer type candle pattern, not a classical one. A sustainable move above the high of this pattern at 24605 could confirm the positive pattern for the short term.

Negative chart pattern like lower tops and bottoms is intact as per daily timeframe chart. Having declined from the recent lower top of 24978 on 21st Oct, there is a probability of minor upside bounce in the short term to form a new lower top of the sequence.

The underlying trend of Nifty remains weak. Having placed around the crucial supports as per weekly chart, one may expect chances of an upside bounce from here or from the lows. A sustainable close only above 24650-24700 levels could confirm upside bounce. However, a slide below 24350 is likely to drag Nifty down to 24K mark in the near term.

(View by: Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities)

3:50 PM

Stock Market Highlights LIVE Updates: Sustainability momentum-driven buying remains uncertain

Investor mindset turned gloomy with the tepid earnings and a knee jerk reaction from FIIs, which dragged the market sentiment.

However, mid and small-caps are experiencing bargain hunting following the recent decline, though the sustainability of this momentum-driven buying remains uncertain.The US 10-year yield inched higher, signalling a slower tempo of rate cuts by the FED, which is poised for a risk-off sentiment towards EMs.

(View by: Vinod Nair, Head of Research, Geojit Financial Services.)

3:47 PM

Stock Market Highlights LIVE Updates: Bajaj Finance, Tech Mahindra surge on NSE

Bajaj Finance settled as a top gainer on NSE, rising 4.95 per cent. followed by the likes of Tech Mahindra, Tata Consumer and Bajaj Auto.

3:43 PM

Stock Market Highlights LIVE Updates: Nifty Pharma, Healthcare drop among sectors

In sectorsm Nifty Pharma fell the most, slipping 1.56 per cent, followed by Nifty Healthcare, and Nifty Auto among others.

3:40 PM

Stock Market Highlights LIVE Updates: Broader indices outperform

In broader markets, the BSE MidCap index rose 0.48 per cent, while the BSE SmallCap surged 0.93 per cent at close on Wednesday.

3:35 PM

Stock Market Highlights LIVE Updates: 22 out of 30 stocks end in red on Sensex

On BSE Sensex, M&M and Sun Pharma both fell around 3 per cent each and were among the top losers, while Bajaj Finance (the top gainer) soared close to 5 per cent at the closing bell on Wednesday.

3:33 PM

Stock Market Highlights LIVE Updates: Nifty settles below 24,450

NSE's Nifty50 settled at 24,435 level, down 36 points or 0.15 per cent on Wednesday.

3:31 PM

Stock Market Highlights LIVE Updates: Sensex ends over 100 pts down

The BSE Sensex settled around 138 points or 0.17 per cent lower at 80081 level on Wednesday.

3:18 PM

Stock Market LIVE Updates: Godrej Properties Q2 PAT jumps 5-fold to Rs 335.21 crore

Realty firm Godrej Properties on Wednesday reported a five-fold jump in its consolidated net profit to Rs 335.21 crore for the quarter ended September on higher income.

Its net profit stood at Rs 66.80 crore in the year-ago period.

Total income more than doubled to Rs 1,346.54 crore in the second quarter of this fiscal from Rs 605.11 crore in the corresponding period of the previous year, according to a regulatory filing. Read more

3:14 PM

Stock Market LIVE Updates: Brokerage bullish calls offset Hyundai Motor India weak debut; stock up 6%

Shares of of automaker Hyundai Motor India (HMIL) staged a strong recovery on Wednesday, surging 5.83 per cent to hit the intra-day high of Rs 1,928.90 on the NSE, after a lackluster debut on Tuesday, October 22, 2024. A combined nearly 0.70 million shares of HMIL worth an estimated Rs 1,327.97 crore have exchanged hands on BSE and NSE today. Read more

3:06 PM

Stock Market LIVE updates: 3 PM market update

At 3 PM, the BSE Sensex was up 79 points, or 0.10 per cent, at 80,141.22, while the Nifty 50 was at 24,448.60, up 23 points, or 0.1 per cent.

2:49 PM

Stock Market LIVE Updates: RBI approves Pranav Chawda's appointment as JP Morgan Chase Bank India CEO

Stock Market LIVE Updates: J P Morgan Chase Bank India on Wednesday said it will elevate Pranav Chawda as its chief executive officer.

The unit of American banking major J P Morgan said it has received the Reserve Bank's approval for Chawda's appointment as the CEO of the banking entity in India. READ MORE

2:48 PM

Stock Market LIVE Updates: Vedanta Resources raises $300 mn through tap issue on existing bond issue

Stock Market LIVE Updates: Vedanta Resources, the parent firm of Mumbai-based mining conglomerate Vedanta Ltd, has raised USD 300 million by exercising the tap option on the existing bond issue.

A tap issue is a procedure that allows companies to issue bonds or other short-term debt instruments from past issues. READ MORE

2:29 PM

Stock Market LIVE Updates: JSW Steel Q2 Preview: PAT likely to fall 96% YoY; volumes, realisation eyed

Stock Market LIVE Updates: Steel behemoth JSW Steel will announce its financial results for the second quarter of the fiscal year 2025 (Q2FY25) on Friday, October 25, 2025.

Analysts noted that Q2 is typically weaker than Q1 in terms of volumes and prices due to seasonal factors like the monsoon and maintenance shutdowns. This year, they said, is no different, with declining steel prices and above-average monsoon rains, along with flooding in various parts of India, leading to results that may fall short of expectations. READ MORE

2:27 PM

Stock Market LIVE Updates: This RP-Sanjiv Goenka Group stock hit record high; zoomed 215% in 18 months

Stock Market LIVE Updates: Shares of Firstsource Solutions (FSL) hit an all-time high of Rs 361.65, as they rallied 15 per cent on the BSE in Wednesday’s intra-day trade amid heavy volumes. The stock of RP - Sanjiv Goenka Group surpassed its previous high of Rs 346.50 touched on October 17, 2024. In the past 18 months, it has skyrocketed 215 per cent from a level of Rs 114.80.

At 01:32 pm; FSL was trading 13 per cent higher at Rs 354.70, as compared to 0.24 per cent rise in the BSE Sensex. The average trading volumes at the counter jumped nearly five times. A combined 17.24 million equity shares representing 2.5 per cent of total equity of FSL changed hands on the NSE and BSE. READ MORE

Stock Market Highlights, Wednesday, October 23, 2024: Indian benchmark equity indices, BSE Sensex, and NSE Nifty50 ended Wednesday's choppy session to settle in the negative territory. The BSE Sensex shed 138.74 points or 0.17 per cent to settle at 80,081.98.

Similarly, NSE Nifty50 dropped 36.60 points or 0.15 per cent to end at 24,435.50.

22 out of 30 constituents of BSE Sensex ended in red, dragged by Mahindra & Mahindra, Sun Pharma, Larsen & Toubro, and Adani Ports, with losses extending up to 3.04 per cent. Conversely, Bajaj Finance, Tech Mahindra, TCS, and HDFC Bank were among the 8 constituent stocks of Sensex that ended in green, with gains extending up to 4.95 per cent.

Among the broader indices, Nifty Smallcap 100 and Nifty Midcap 100 settled with gains of 1.25 per cent and 0.64 per cent repectively, on Wednesday.

IT stocks outperformed in an otherwise weak market, with Nifty IT index ending higher by 2.38 per cent.

Among other sectoral indices, Financial Services, FMCG, Media, Consumer Durables, and PSU Bank managed to settle in green, while Auto, Pharma, Healthcare, and OMCs ended in red on Wednesday.

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Topics :Stock Market MARKET WRAP MARKET LIVE MARKETS LIVE MARKETS TODAY Markets Sensex Nifty stock market trading S&P BSE Sensex BSE Sensex NSE Nifty Nifty50 Nifty 50 BSE NSE BSE NSE equity share market Indian stock market Global stock markets Indian stock markets stock markets US stock markets US stock market US markets india market Chinese stock market Chinese stocks Asia Markets

First Published: Oct 23 2024 | 7:41 AM IST

Market Close Highlights, Oct 23: Sensex sheds 139 pts, Nifty settles below 24,450; IT shares shine

Stock Market Highlights: 22 out of 30 constituents of BSE Sensex ended in red, dragged by M&M, Sun Pharma, L&T, and Adani Ports, with losses extending up to 3.04 per cent

Key Events

Stock Market Highlights LIVE Updates: A slide below 24,350 can drag Nifty to 24K in near term.