Stock Market Crash Highlights: Sensex tanks 984pts, Nifty ends below 23,600; all sectors in red

Stock Market Highlights: 44 out of the Nifty50 constituent stocks ended in the red, dragged down by Hero MotoCorp, Hindalco, Tata Steel, Mahindra & Mahindra, and Eicher Motors

Stock Market Highlights, Wednesday, November 13, 2024: Benchmark equity indices, BSE Sensex and NSE Nifty50, continued its losing streak and ended lower by over 1 per cent each on Wednesday. The BSE Sensex closed at 77,690.95, down 984.23 points or 1.25 percent from its previous close, trading within a range of 78,690.02-77,533.30.

Similarly, the NSE Nifty50 settled at 23,559.05, down 324.40 points or 1.36 per cent from its previous close, moving within a range of 23,873.60-23,509.60.

44 out of the Nifty50 constituent stocks ended in the red, dragged down by Hero MotoCorp, Hindalco, Tata Steel, Mahindra & Mahindra, and Eicher Motors, with losses extending up to 4.21 per cent. Conversely, Britannia, Tata Motors, Grasim, Asian Paints and NTPC were among 6 constituent stocks of Nifty50 that ended in the green, with gains reaching up to 0.40 per cent.

The broader markets settled in the red, with Nifty Smallcap100 and Nifty Midcap100 falling 2.96 per cent and 2.64 per cent, respectively.

Meanwhile, the fear index India (VIX) ended higher by 5.03 per cent at 15.33 points.

The market breadth was fairly negative with 5 declining stocks for every advancing share on the BSE.

All the sectoral indices were in red, with Nifty PSU Bank and Realty indices facing the worst heat and ending lower by over 3 per cent. This was followed by Bank Nifty, Auto, Media, Metal, Private Bank, and Select Healthcare indices, which ended down by over 2 per cent each.

3:58 PM

Stock Market Highlights LIVE Updates: Nifty has now corrected more than 10% from its record high

Markets extended their corrective phase, declining by nearly one and a half percent, continuing the existing downward trend. After a flat opening, Nifty gradually drifted lower, retesting its critical support at the 200-day exponential moving average (DEMA) for the first time in nearly five months. Pressure was felt across key sectors, with realty, metal, and auto stocks among the biggest losers.

Broader indices also experienced a sharp decline, each losing over 2.5 per cent. Nifty has now corrected more than 10 per cent from its record high, reaching its major moving average support. Notably, alongside with the benchmark index, banking index, midcap and smallcap indices also retested their long-term support levels at the 200 DEMA today. This confluence of support and oversold conditions might trigger a rebound, although any recovery could be limited to select stocks. Traders are advised to monitor positions closely and maintain a hedged strategy.

(View by: Ajit Mishra – SVP, Research, Religare Broking Ltd.)

3:52 PM

Stock Market Highlights LIVE Updates: Markets are jittery about future US policy actions

Relentless selling by FIIs amid weak corporate earnings and a sharp surge in domestic inflation to a 14-month high have further impacted investor sentiment, dashing hopes for a near-term rate cut by the RBI.

Mid and small-cap stocks were the worst hit, while the Financials and Auto sectors also showed significant weakness. This trend is mirrored across all emerging markets, as markets are jittery about future US policy actions, including trade-related implications for the world economy, which is reflected in the strengthening US dollar and rising yields.

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

 

3:49 PM

Stock Market Highlights LIVE Updates: HeroMoto Corp, M&M, Hindalco drop on NSE

HeroMoto Corp, M&M, and Hindalco were the top losers on NSE.

3:45 PM

Stock Market Highlights LIVE Updates: Nifty Realty, PSU Bank, Metal bleed among sectors

While all sectors ened in red on Wednesday, Nifty Realty, PSU Bank, and Metal remained the top losers among others.

3:42 PM

Stock Market Highlights LIVE Updates: BSE SmallCap index bleeds 3%

The BSE SmallCap index slipped 3.08 per cent, while the BSE MidCap index slumped 2.56 per cent.

3:38 PM

Stock Market Highlights LIVE Updates: Heatmap check

26 out of 30 stocks closed in red, with M&M, Tata Steel and Adani Ports being the top losers.

3:37 PM

Stock Market Highlights LIVE Updates: Nifty ends below 23,600

The NSE's Nifty50 closed at 23,599 level, down 324 points or 1.36 per cent.

3:33 PM

Stock Market Highlights LIVE Updates: Sensex closes over 980 pts lower

The BSE Sensex closed 984 points or 1.25 per cent lower at 77,690 level.

3:29 PM

Stock Market LIVE Updates: NTPC Green targets $10.8 billion valuation in IPO, analysts flag concerns

NTPC Green Energy set a price band on Wednesday for its initial public offering (IPO), targeting a valuation of as much as $10.8 billion in what is set to be India's third-largest IPO this year, though analysts raised concerns on the "aggressive" pricing.

 

The company set a price band of Rs 102-108 per share, aiming to raise Rs 10,000 crore ($1.19 billion) in the IPO, which trails only Hyundai Motor India and Swiggy in size this year. Read more

3:15 PM

Stock Market LIVE Updates: What if Nifty 50 fails to hold the 200-DMA at 23,530? Key levels here

The NSE Nifty 50 index tested its long-term (200-Daily Moving Average) on Wednesday for the first time since April 2023. The 200-DMA holds significance as it helps in determining the overall trend for the particular index or stock. In general, stocks or indices quoting below 200-DMA are said to be in down (bearish) trend and vice versa. Read more

3:04 PM

Stock Market LIVE updates: 3 PM market update

At 3 PM, the BSE Sensex was down 1,040 points, or 1.32 per cent, at 77,634.29, while the Nifty 50 was at 23,536.25, down 347 points, or 1.45 per cent.

2:46 PM

Stock Market LIVE Updates: Patel Engineering shares up 6% on healthy Q2 show; PAT up 95%, rev up 15%

Stock Market LIVE Updates: Patel Engineering shares jumped 5.7 per cent in trade and registered an intraday high of Rs 51.9 per share on BSE. The buying in the stock came after the company reported healthy Q2FY25 results.

 

Around 1:15 PM, Patel Engineering shares were up 3.3 per cent at Rs 50.68 per share on BSE. In comparison, the BSE Sensex was down 0.76 per cent at 78,073.98. READ MORE

 

2:36 PM

Stock Market LIVE Updates: Prism Johnson posts bigger-than-expected Q2 loss on tepid cement demand

Stock Market LIVE Updates: Indian construction materials maker Prism Johnson on Wednesday posted a bigger-than-expected quarterly loss, as cement prices persistently declined and demand remained tepid. The company's consolidated net loss stood at 897.9 million rupees ($10.6 million) in the three months ended Sept. 30, marking a second straight quarter of losses. Prism Johnson had reported a net profit of 1.83 billion rupees a year ago. READ MORE

2:30 PM

Stock Market LIVE Updates: Why this micro-cap stock zoomed over 100% in 6 days in weak market? Details

Stock Market LIVE Updates: Tera Software shares hit a record high of Rs 155.05, as they rallied 10 per cent on the BSE in Wednesday’s intra-day trade amid heavy volumes in an otherwise weak market. The stock of the micro-cap company has locked in upper circuit for the third straight day, surging 33 per cent during the period. READ MORE

2:23 PM

Stock Market LIVE Updates: Expecting very solid growth for next 3-5 years: Swiggy CEO Majety

Stock Market LIVE Updates: Food delivery and quick-commerce major Swiggy on Wednesday said it is expecting "very solid" growth in the next 3-5 years and plans to expand its geographical footprint and stores network for Instamart business. The company which made a strong debut on the stock exchanges on Wednesday said it has doubled the categories for quick commerce in the last 12 months. READ MORE