The Nifty has slipped after a brief consolidation on the hourly time frame, suggesting increasing bearish sentiment among traders. The recent weakness has led Nifty below the 38.20 per cent retracement of the previous rise from 24,694 to 25,212.

Sentiment now appears slightly bearish, with immediate support at 24,900. A break below this level could intensify the weakness, potentially dragging Nifty down to 24,700. On the upside, 25,000 remains a strong resistance; only a decisive breakout above this level may trigger a directional rally in the market.

(View by: Rupak De, Senior Technical Analyst, LKP Securities)

3:51 PM

Comment: Market traded with negative bias on fears of downgrade in FY25 earnings

The national market traded range bound with a negative bias due to the fear of a downgrade in FY25 earnings, which could impact the sustainability of premium valuation.

The participants are expecting only a slow pace in earnings expansion in Q2FY25 due to insipid demand and volatility in input prices. The rate of recovery in Q2 compared to Q1 is below expectation.

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

3:43 PM

Stock Market Highlights LIVE Updates: HDFC Life, Dr Reddy's and Grasim Ind lead on NSE

HDFC Life, Dr Reddy's and Grasim rose up to 2 per cent on NSE, while Trent, M&M and Infosys ended in red.

3:41 PM

Stock Market Highlights LIVE Updates: Nifty IT, Auto lead losses among sectors

Among sectors, Nifty IT and Nifty Auto fell over 1 per cent each at close, while Nifty Realty and Nifty Financial services finished in green.

3:39 PM

Stock Market Highlights LIVE Updates: Broader market mixed

In broader markets, the BSE MidCap fell 0.10 per cent, while the BSE SmallCap ended in green, rising 0.31 per cent.

3:36 PM

Stock Market Highlights LIVE Updates: Heatmap check

25 out of 30 stocks ended in red on the BSE Sensex, with M&M, Infosys, Kotak Mahindra Bank and JSW Steel falling up to 3 per cent.

3:32 PM

Stock Market Highlights LIVE Updates: Nifty ends below 25,000 mark

NSE's Nifty 50 finished at 24,971, down 86 points, or 0.34 per cent on Wednesday.

3:31 PM

Stock Market Highlights LIVE Updates: Sensex ends over 300 pts down

The BSE Sensex closed at 81,501, down 318 points, or 0.39 per cent on Wednesday.

3:13 PM

Stock Market LIVE Updates: Gala Precision Engineering shares skyrocket 15% due to heavy volume

Shares of Gala Precision Engineering climbed as much as 15.56 per cent to hit an all-time high of Rs 944.90 on the NSE today amidst heavy demand. A combined total of nearly 4.59 lakh shares worth around Rs 41.35 crore have exchanged hands on NSE and BSE on Wednesday.

On the NSE alone, the trading volume of Gala Precision Engineering jumped to 4,13,933, nearly 7 times its weekly average volume of 63,527, leading to a surge in the stock price. Read more

3:02 PM

Stock Market LIVE updates: 3 PM market update

At 3 PM, the BSE Sensex was at 81,549, down 271 points, or 0.33 per cent, while the Nifty 50 was at 24,984, down 72 points, or 0.29 per cent.

2:56 PM

Stock Market LIVE Updates: AMCs, broking stocks rally up to 15%; Aditya Birla, UTI, CAMS at new peak

Stock Market LIVE Updates: Shares of capital market-related sectors like asset management companies (AMCs) and broking firms are on a roll as they rallied up to 15 per cent on the BSE in Wednesday’s intra-day trade in otherwise a weak market.

This comes after HDFC AMC and Angel One posted a strong September quarter (Q2FY25) earnings. READ MORE

2:47 PM

Stock Market LIVE Updates: Fund managers pare India allocation in favour of China, BofA survey finds

Stock Market LIVE Updates: Global fund managers increased their allocation to China at India's expense after Asia's largest economy unleashed a stimulus package, according to a survey conducted by BofA Securities. Last Saturday, China pledged to significantly increase debt to revive its sputtering economy. China's central bank in September announced the most aggressive monetary support measures since the pandemic. READ MORE

2:45 PM

Stock Market LIVE Updates: 103 stocks hit upper circuit amid weak market sentiments; do you own any?

Stock Market LIVE Updates: Shares of as many as 103 companies have hit the upper circuit on the NSE, defying otherwise weak market sentiments, as the benchmark equity indices, the BSE Sensex and the NSE Nifty50, are trading lower on Wednesday. The NSE Nifty50, which started the session on a lower note at 25,008.55 against its previous close of 25,057.35, fell 0.59 per cent to today’s low of 24,908.45. Whereas, the 30-share Sensex dropped 0.56 per cent to hit an intraday low of 81,358.26. READ MORE

2:34 PM

Stock Market LIVE Updates: Cipla, Alkem eye Rs 4,000 crore stake in India's largest stent manufacturer

Stock Market LIVE Updates: Cipla and Alkem Laboratories have emerged as the leading contenders to acquire a controlling stake in Mumbai-based Sahajanand Medical Technologies (SMT), India’s largest cardiac stent manufacturer. This comes after private equity giants KKR, TPG Capital, and Apax Partners withdrew from the race, having initially shown interest, reported The Economic Times citing sources. READ MORE

2:31 PM

Stock Market LIVE Updates: Adani Energy stock rises over 3% on acquiring two electric utility firms

Stock Market LIVE Updates: Shares of power distribution company, Adani Energy Solutions rose as much as 3.4 per cent at Rs 1,038.30 per share on the BSE. The stock price jumped on Wednesday after the company announced acquisition of electrical utilities companies. READ MORE

Stock Market Highlights, Wednesday, October 16, 2024: Benchmark equity indices BSE Sensex, and NSE Nifty50 settled in the negative territory on Wednesday.

The BSE Sensex shed 318.76 points or 0.39 per cent to settle at 81,501.36. Similarly, Nifty50 ended at 24,971.30, down 86.05 points or 0.34 per cent.

The day ended in favour of the bears as 34 out of 50 constituent stocks of Nifty50 ended in red, dragged by Trent, Mahindra & Mahindra, Infosys, Hero MotoCorp, and Adani Ports with losses extending up to 3.61 per cent. Conversely, HDFC Life Insuarnce Company, HDFC Bank, Dr Reddy's Labs, Grasim, and Bajaj Auto were among 16 stocks that ended in green with gains extending up to 1.79 per cent.

Among the broader indices, the Nifty Small 100 managed to settle in the green with marginal gains of 0.01 per cent, while the Nifty Midcap 100 index ended down by 0.24 per cent.

Auto and IT indices were the top laggards among sectoral indices, ending down by over 1 per cent each. Media, Metal Pharma, FMCG, Realty, Private Bank, Consumer Durables, and Healthcare indices also ended in the red on Wednesday.

Meanwhile, Financial Services, Realty, and OMCs indices managed to eke out some gains of up to 0.55 per cent.

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Topics :MARKET WRAP MARKETS WRAP MARKETS LIVE MARKET LIVE MARKETS TODAY stock market trading Markets Sensex Nifty S&P BSE Sensex share market global stock market Global stock markets Indian stock market Indian stock markets US markets Asian markets Asia Markets Nifty50 Nifty 50 NSE Nifty Chinese stock market

First Published: Oct 16 2024 | 7:57 AM IST

Market Close Highlights, Oct 16: Sensex sheds 319 pts, Nifty below 25k; Auto, IT indices fall 1%

Stock Market Today: The BSE Sensex shed 318.76 points or 0.39 per cent to settle at 81,501.36. Similarly, Nifty50 ended at 24,971.30, down 86.05 points or 0.34 per cent

Key Events

Tech View: Market sentiment bearish, break below 24,900 could intensify weakness