Market Crash Highlights: Sensex sheds 940 points, Nifty settles below 24,000; all sectors end in red

Stock Market Highlights: Indian benchmark equity indices declined after a lower open on Monday, amid mixed global cues

Stock Market Highlights, Monday, November 4, 2024:  Benchmark equity indices BSE Sensex and NSE Nifty 50 ended the week's first trading session in the negative territory, down over 1 per cent each.

BSE Sensex shed as much as 941.88 points or 1.18 per cent to settle at 78,782.24. Similarly, NSE Nifty50 ended lower by 309 points or 1.27 per cent to settle at 23,995.35.

Bears took the reins on D-Street as 42 out of 50 constituent stocks of Nifty50 ended in red, dragged by Hero MotoCorp, Grasim Industries, Bajaj Auto, Adani Ports, and BPCL with losses extending up to 4.25 per cent.

Conversely, Mahindra & Mahindra, Tech Mahindra, Cipla, State Bank of India, and Dr Reddy's Labs were among the 8 stocks that managed to end in green with gains extending up to 2.14 per cent.

The fear index, India (VIX), which measures the volatility in the markets, ended higher by 5.01 per cent at 16.70 points. 

Broader indices also ended in red, with Nifty Midcap100, and Nifty Smallcap100 ending lower by 1.31 per cent, and 1.98 per cent, respectively. All the sectoral indices ended in red.

All the sectoral indices ended in red on Monday, with Nifty OMCs, Realty, and Media ending down by over 2 per cent each. They were followed by Financials, FMCG, Metal, Private Bank, and Consumer Durables, all ending down by over 1 per cent each.

    

3:46 PM

Stock Market Highlights LIVE Updates: A hold above 23,500 for Nifty could indicate bargain buying

Dalal Street continued its sharp decline as key indices Nifty50 and Sensex fell nearly 2 per cent to begin the week on a weaker note. Nifty prices have now dropped nearly 9.5 per cent from their all-time highs, hitting a five-month low on heavy sell-offs from FIIs which offloaded around 114,445 crore in the cash segment. Investor sentiment has also been strained by weak quarterly earnings and geopolitical uncertainties.

With Indian markets trading at high valuations, these headwinds worked as key catalyst to trigger the ongoing correction. Today's sell-off was driven by several factors, including the US presidential election on November 5, the Federal Reserve’s upcoming monetary policy announcement on November 7, and recent disappointing US nonfarm payrolls data.

Concerns about a potential delay in the US election results have further fueled anxiety among investors. Technically, the market remains well below its 100-day EMA, adding to the bearish outlook. This week will be critical, a hold above 23,500 could indicate bargain buying, while a sustained move above 24,500 may trigger short covering, signaling a possible end to the downtrend. Conversely, a decisive break below the 23,500–23,400 range could push prices further down toward 22,800.

(View by: Vishnu Kant Upadhyay, AVP - Research and Advisory at Master Capital Services Ltd.)

3:44 PM

Stock Market Highlights LIVE Updates: Indian market underperforming its global peers due to excess valuation

As expected, India is underperforming its global peers due to excess valuation. The ongoing selloff has deepened by weak Q2 earnings, dampening investor sentiment. Continued volatility is anticipated in the short-term, as attention shifts to the closely contested US presidential election. Additionally, key economic events, such as the US Fed and BoE policy decisions, will be critical in shaping market movements. 

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

3:43 PM

Stock Market Highlights LIVE Updates: M&M, Tech Mahindra, Cipla gain on NSE

M&M, Tech Mahindra, Cipla were the top gainers on the NSE.

3:41 PM

Stock Market Highlights LIVE Updates: All sectors bleed

Among sectors, Nifty Media, Nifty Realty, Nifty Private Bank and Nifty Financials fell the most. 

3:37 PM

Stock Market Highlights LIVE Updates: Broader indices in red

The broader markets fell heavier than benchmarks, with BSE MidCap index falling 1.31 per cent, and BSE SmallCap index slipping 1.65 per cent

3:35 PM

Stock Market Highlights LIVE Updates: Heatmap check

Adani Ports, Reliance Industries and Sun Pharma ended as the top losers on the BSE Sensex.

3:34 PM

Stock Market Highlights LIVE Updates: Nifty50 closes below 24,000 mark

The NSE's Nifty50 closed at 23,995 level, down 309 points or 1.27 per cent on Monday.

3:30 PM

Stock Market Highlights LIVE Updates: Sensex ends over 900 pts down

The BSE Sensex settled at 78,782 level, down 941 points or 1.18 per cent on Monday. 

3:23 PM

Stock Market LIVE Updates: Shankara Building Products down over 3% after profit lags in Q2

Shankara Building Products: For Q2FY25, the company reported a consolidated net profit of Rs 152 crore, down from Rs 182 crore year-on-year. Q2 revenue reached Rs 1,330 crore, compared to Rs 1,142 crore YoY. Ebitda for the quarter was Rs 36 crore, slightly up from Rs 35.45 crore YoY, while the Ebitda margin was 2.71 per cent, down from 3.10 per cent YoY.

3:11 PM

Stock Market LIVE Updates: Reliance Jio IPO worth $100 bn set for 2025, retail to debut much later

Indian billionaire Mukesh Ambani targets a 2025 Mumbai listing for his telecom business Jio, valued by analysts at over $100 billion, and plans to launch his retail unit's IPO much later, two people familiar with the matter told Reuters.

 

Reliance Industries' boss Ambani hasn't updated his IPO timelines after saying in 2019 that Reliance Jio and Reliance Retail would "move towards" a listing within five years. Read more

3:01 PM

Stock Market LIVE updates: 3 PM market update

At 3 PM, the BSE Sensex was down 915 points, or 1.15 per cent, at 78,808.72, while the Nifty 50 was at 24,001.65, lower by 300 points, or 1.25 per cent.

2:55 PM

Stock Market LIVE Updates: MOIL shares decline 4% after revising prices of manganese ore & EMD

Stock Market LIVE Updates: MOIL shares lost 4.4 per cent in trade and registered an intraday low of Rs 319.5 per share on BSE. The stock declined after the company made downward revisions in prices of different grades of Manganese Ore and Electrolytic Manganese Dioxide (EMD) for third quarter effective November 1, 2024. READ MORE

2:51 PM

Stock Market LIVE Updates: Rainbow Children's Medicare rallies 9%, hits new high on strong Q2 results

Stock Market LIVE Updates: Shares of Rainbow Children’s Medicare (Rainbow) hit a new high of Rs 1,685, as they rallied 9 per cent on the BSE in Monday’s intra-day trade amid heavy volumes in otherwise a weak market. In six trading days, the stock surged 24 per cent after posting strong operational and financial performance in the second quarter-ended September 2024 (Q2FY25). READ MORE

2:47 PM

Stock Market LIVE Updates: UAE opens its annual oil-and-gas summit, pledges to increase output

Stock Market LIVE Updates: The United Arab Emirates opened its annual oil-and-gas summit on Monday with pledges to increase energy output even as global prices have fallen and world politics remain uncertain ahead of the US presidential election. The massive Abu Dhabi International Petroleum Exhibition and Conference comes after the UAE just last year hosted the United Nations COP28 climate talks. Those talks ended with a call by nearly 200 countries to move away from planet-warming fossil fuels the first time the conference made that crucial pledge. READ MORE

2:45 PM

Stock Market LIVE Updates: Ashok Leyland shares drop over 3% as October sales disappoint; details here

Stock Market LIVE Updates: Shares of Ashok Leyland fell up to 3.30 per cent to hit an intraday low of Rs 202.15 per share on Monday, November 04, 2024. The fall in Ashok Leyland share price came on the back of weak October sales numbers. Overall sales dropped 9 per cent year-on-year (Y-o-Y) to 15,310 units in October 2024, as against 16,864 units in October 2023. READ MORE