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Stock Market Highlights, Oct 7: Sensex sheds 638pts, Nifty below 24,800; Mid, smallcap shares drag

Stock Market Today: Indian benchmark equity indices Sensex, and Nifty settled in red on Monday

SI Reporter New Delhi
Media Majors, stock market, share market, stock trading
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2 min read Last Updated : Oct 07 2024 | 4:02 PM IST

Key Events

4:02 PM

Stock Market Highlights LIVE Updates: Market appears to be "sell on rise" as long as it stays below 25,000

The Nifty slipped further due to ongoing geopolitical concerns, with sentiment worsening as the index fell below the 55 EMA, indicating a bearish trend. A bearish crossover in the RSI is adding to the downward price momentum.

In the short term, the trend may remain volatile, with a predominantly bearish outlook. Overall, the market appears to be "sell on rise" as long as it stays below 25,000. On the downside, support levels are positioned at 25,700, 25,590, and 25,400.

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

3:49 PM

Stock Market Highlights LIVE Updates: Indian mkts at high risk of underperforming to Asian peers

The Indian markets have entered a consolidation phase with high risk of underperforming to Asian peers. This phase is marked by significant corrections in the broader market due to premium valuations.

There is notable global arbitrage activity, with Chinese markets attracting substantial inflows driven by its attractive valuations and stimulus measures. Investors are reassessing their portfolio positions and FIIs outflows are exacerbated. Amid escalating geopolitical tensions, the surging oil prices poses a further challenge to the domestic economy, in the short-term.

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

3:47 PM

Stock Market Highlights LIVE Updates: Trent, M&M and Bharti Airtel top gainers on NSE

Trent, M&M and Bharti Airtel advanced on NSE and finished over 1 per cent higher each on Monday. 

3:43 PM

Stock Market Highlights LIVE Updates: All sectors end in red except Nifty IT

All sectors except Nifty finished the day in negative teritory on Monday, with Nify Media and Nifty PSU Bank falling over 3 per cent each. These were closely followed by sectors such as Nifty Metal, Nifty Financial Services, and Nifty Consumer Durables.

3:40 PM

Stock Market Highlights LIVE Updates: SmallCap index finishes over 3% lower

In broader markets, the BSE MidCap index and BSE SmallCap index bled heavier than benchmarks, ending 1.85 per cent and 3.27 per cent lower, respectively. 

3:37 PM

Stock Market Highlights LIVE Updates: Heatmap check

Adani Ports was the top loser on BSE Sensex, ending 4.08 lower on Monday, and was closely followed by the likes of NTPC, SBI and Powergrid among others. 

3:35 PM

Stock Market Highlights LIVE Updates: Nifty slips over 200 pts, ends below 24,800

NSE's Nifty50 slipped around 218 points or 0.87 per cent to close at 24,795 level on Monday.

3:32 PM

Stock Market Highlights LIVE Updates: Sensex ends over 600 pts down at 81,050

The BSE Sensex closed 638 points or 0.78 per cent down at 81,050 level on Monday.

3:25 PM

RVNL, RITES, SAIL decline up to 8% in weak market; BSE PSU index slips 3%

Rail Vikas Nigam (RVNL), RITES, SJVN, among several other public sector companies, declined up to 8 per cent in intra-day trade on Monday, October 7. The segment's market, the BSE PSU index was down 3.3 per cent at the time. Read more

3:15 PM

Stock Market LIVE Updates: This SME stock surged 15% in weak market today; is up 223% over issue price

Siyaram Recycling Industries share price hit a new high of Rs 148.65 as they surged 15 per cent on the BSE in Monday's intraday trade, amid heavy volumes, in an otherwise weak market. The rally in Siyaram Recycling share price came after the company's board approved allotment of over 2 million equity shares of the company to Mukul Agrawal. Read more

3:05 PM

Stock Market LIVE Updates: 3 PM market update

At 3 PM, the BSE Sensex was down 527.64 points, or 0.65 per cent, at 81,160.81. 

2:45 PM

Stock Market LIVE Updates: Sensex plunges 950 pts intraday, SmallCap index 4%; Why markets fell today?

Stock Market LIVE Updates: In a volatile session On Monday, the BSE Sensex crashed up to 962 points or 1.17 per cent to 80,726.06 levels, while NSE’s Nifty50 fell 244 points or 0.97 per cent at 24,770 levels in intraday deals. The bourses, however, opened in green this morning but erased the gains shortly after slipping deep in red. READ MORE

2:29 PM

Stock Market LIVE Updates: Tata Group stocks trade weak; Tata Power, Tata Chem, Tata Com down up to 6%

Stock Market LIVE Updates: Shares of Tata group companies traded weak at the bourses on Monday, falling by up to 6 per cent on the BSE in intra-day trade. The drop comes amid an overall weakness in Indian equities due to foreign institutional investors' (FIIs') selling.
 
Tejas Networks (down 6 per cent at Rs 1,120.95), Tata Power (down 6 per cent at Rs 441), Tata Communications (down 5 per cent at Rs 1,980.60), Tata Teleservices Maharashtra (down 6 per cent at Rs 76.66) and Tata Chemicals (down 5 per cent at Rs 1,073.75) slipped in the range of 5 per cent to 6 per cent. READ MORE

2:15 PM

Stock Market LIVE Updates: CG Power to buy RF components business of Renesas for $36 mn; share up 3%

Stock Market LIVE Updates: CG Power and Industrial Solutions shares gained up to 2.78 per cent to hit an intraday high of Rs 738.80 per share. 
CG Power’s share price rose after the company announced that it has entered into a definitive agreement i.e., Asset Purchase Agreement with Renesas Electronics America Inc. & other affiliate entities of Renesas Electronics Corporation (Renesas) for acquisition of Radio Frequency (RF) Components business in an all-cash deal. READ MORE

2:02 PM

Stock Market LIVE Updates: 2 PM market update - Sensex, Nifty decline

Stock Market LIVE Updates: Indian benchmark equity indices had extended their loses on Monday.

At 2 PM, the BSE Sensex was down 594.23 points, or 0.73 per cent, at 81,094.22, while the Nifty 50 was at 24,782.90, down 231.70 points, or 0.93 per cent.
 

Stock Market Highlights Updates, Monday, October 7, 2024: Benchmark equity indices gave up their initial gains to settle in the red on Monday, led by a sell-off across sectors. The BSE Sensex shed 638.45 points or 0.78 per cent to settle at 81,050. Similarly, the NSE Nifty50 fell 218.85 points or 0.87 per cent to end the week's first trading session at 24,795.75.

Bears took control on D-Street as 40 out of 50 constituent stocks of Nifty50 ended in the red, dragged down by Adani Ports, BEL, NTPC, Coal India, and Adani Enterprises, with losses extending up to 4.29 per cent.

Midcap, and Smallcap stocks were the worst hit in the broader markets, with Nifty Midcap 100 and Nifty Smallcap 100 indices ending down by 2.01 per cent, and 2.75 per cent, respectively.

Conversely, Trent, Mahindra & Mahindra, Bharti Airtel, ITC, and Bajaj Finance were among the 10 stocks that posted gains of up to 1.86 per cent on Monday.

Similarly, on the BSE, 23 out of 30 stocks in the Sensex ended in the red, dragged down by Adani Ports, NTPC, State Bank of India, and Power Grid Corporation. However, ITC, Bharti Airtel, Mahindra & Mahindra, Bajaj Finance, Infosys, TCS, and Tech Mahindra managed to end in the green.

The fear index (India VIX) ended 6.74 per cent higher at 15.08. All sectoral indices, barring the Nifty IT index, ended in the red on Monday. The PSU Bank, and Media indices were the worst hit, ending lower by over 3 per cent each. This was followed by OMCs and Metal indices, which fell by over 2 per cent. Meanwhile, Bank Nifty, Financial Services, Private Bank, Realty, Consumer Durables, and indices ended lower by over 1 per cent each.

Topics :MARKET LIVEMARKETS LIVEMARKETS TODAYstock market tradingMarkets Sensex NiftyS&P BSE SensexGift NiftyNifty50Nifty 50global stock marketIndian stock marketIndian stock marketsGlobal stock marketsGlobal stocksGlobal MarketsAsia MarketsAsian marketsindia marketIndian marketsIndian marketUS marketsUS market

First Published: Oct 07 2024 | 7:49 AM IST

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