Stock Market Highlights, April 9: Sensex drops 440 pts from record high, ends 59 pts down; Nifty below 22,650; RIL, TCS, Titan weigh

Stock market updates on Tuesday, April 09: Among sectors, the Nifty Media, and PSU Bank indices settled in the negative zone (down up to 1 per cent), while the Nifty Metal index added 1.1 per cent

Closing Bell on April 9, 2024: Equity markets erased all gains in the fag-end of the session as profit booking in large-caps deepened. The S&P BSE Sensex, which surpassed the 75,000-mark for the first time on Tuesday, hitting a record high of 75,124, ended 59 points lower at 74,684. 

The Nifty50, too, settled 24 points lower at 22,643, after hitting an all-time high of 22,768 earlier today.

Coal India, Titan Company, Hero MotoCorp, Reliance Industries, Asian Paints, Tech M, Tata Consumer Products, IndusInd Bank, Wipro, Britannia Industries, Bajaj Auto, SBI, ITC, Tata Motos, and TCS were the top laggards as they fell in the range of 0.5 per cent to 2 per cent. 

In the broader markets, the BSE MidCap and SmallCap indices, too, ended in the red with up to 0.47 per cent decline.

Among sectors, the Nifty Media, and PSU Bank indices settled in the negative zone (down up to 1 per cent), while the Nifty Metal index added 1.1 per cent.

3:48 PM

Comment :: 'Markets saw profit-booking in anticipation of tomorrow's key US inflation data'

The Indian market reached a fresh intraday peak before seeing profit-booking at higher levels in anticipation of tomorrow's key US inflation data, which carries weight in determining future rate cuts by the US Fed.

Concerns have emerged amidst recent better-than-anticipated US employment and manufacturing data, suggesting a potential shift in expectations regarding rate cuts this year.

Moreover, escalating geopolitical tensions in the Middle East, alongside supply concerns, have propelled crude prices upward, impacting overall market sentiment. In the near term, the focus will shift to Q4 earnings, which will kick off this weekend.

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

3:45 PM

Tech View :: Key levels to watch on Nifty, Bank Nifty

Nifty50
Nifty opened higher but struggled to withstand the selling pressure at elevated levels. On the hourly chart, the RSI (14) indicates bearish divergence, signaling a potential shift in price momentum towards the downside. Immediate support is observed at 22,600; a decisive drop below this level could drive the index towards 22,400. Conversely, resistance is evident at 22,770 on the higher end."

Views by: Rupak De, Senior Technical Analyst, LKP Securities


Bank Nifty
The Bank Nifty demonstrated resilience at higher levels by surpassing the 49,000 mark intraday. It finds support at 48,000, coinciding with significant open interest in put options. Sustained closure above 49,000 could propel the index towards 50,000. With a bullish undertone prevailing, downturns are seen as buying opportunities for the index.

Views by: Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities

3:40 PM

Broader markets :: MidCap index slips nearly half a per cent

3:39 PM

Sectoral trends :: Most indices end mixed on either side of flatline

3:37 PM

Sensex Heatmap :: Losers outnumber winners on index; Titan, RIL worst hit

3:35 PM

Closing Bell :: Nifty ends below 22,650

3:34 PM

Closing Bell :: Sensex gives up gains amid profit booking

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3:18 PM

Market Check :: Sensex at day's low

3:03 PM

Global check:: US, UK stock futures exhibit mixed trend

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