Stock Market Highlights, Oct 4: Sensex sheds 808pts; Nifty ends near 25,000; FMCG drags, IT shines
Share Market Highlights: The day ended in favor of bears as 37 out of 50 constituent stocks of Nifty50 ended in the red
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Stock market today: Foreign Institutional Investors (FIIs) net sold shares worth Rs 15,243.27 crore, while Domestic Institutional Investors (DIIs) net bought shares worth Rs 12,913.96 crore on Thursday, October 3. (Photo: Reuters)
Stock Market Highlights, Friday, October 4, 2024: Benchmark equity indices, the BSE Sensex and NSE Nifty50, ended the week's last trading session in negative territory, down nearly 1 per cent each, weighed down by selling across sectors.
The BSE Sensex shed 808.65 points or 0.98 per cent to 81,688.45. The index traded in the range of 81,532.68-83,368.32 today.
Similarly, the Nifty50 also dropped 235.50 points or 0.93 per cent to settle at 25,014.60 on Friday. The index traded in the range of 24,966.80-25,485.05 today.
The day ended in favor of bears as 37 out of 50 constituent stocks of Nifty50 ended in the red, dragged down by Mahindra & Mahindra, Bajaj Finance, Nestle India, BPCL, and Hero MotoCorp, with losses extending up to 3.54 per cent. Conversely, Infosys, ONGC, HDFC Life Insurance Company, Tata Motors, and Wipro were among the 13 constituent stocks that ended in the green, with gains extending up to 1.51 per cent.
The day ended in favor of bears as 37 out of 50 constituent stocks of Nifty50 ended in the red, dragged down by Mahindra & Mahindra, Bajaj Finance, Nestle India, BPCL, and Hero MotoCorp, with losses extending up to 3.54 per cent. Conversely, Infosys, ONGC, HDFC Life Insurance Company, Tata Motors, and Wipro were among the 13 constituent stocks that ended in the green, with gains extending up to 1.51 per cent.
That said, the fear index, India VIX, ended higher by 7.27 per cent at 14.13 points.
Broader indices ended in the red, with Nifty Midcap 1000 and Nifty Smallcap 100 settling down by 1.01 per cent and 0.90 per cent, respectively.
The sectors that bore the brunt of the downturn were FMCG, Auto, Media, Realty, and OMCs, all of which fell by more than 1 per cent. Notably, the Nifty Media index plummeted 2.53 per cent on Friday.
However, IT and PSU Bank indices succeeded in eking out some gains, ending higher by 0.45 per cent and 0.61 per cent, respectively, on Friday.
4:06 PM![]()
Stock Market Highlights LIVE Updates: Nifty's next support at 24,753 level
Nifty fell for the fifth consecutive session forming a bear candle with a long upper shadow. This means that the upward retracement is happening in a running manner.
Over the week, Nifty fell 4.45 per cent retracing the gains of several weeks. This is a negative sign though oversold conditions may mean a small pullback in the near term. Nifty could now take support at 24,753 and later 24,420 while 25,453 could act as a resistance in the near term.
(View by: Deepak Jasani, Head of Retail Research at HDFC Securities)
Over the week, Nifty fell 4.45 per cent retracing the gains of several weeks. This is a negative sign though oversold conditions may mean a small pullback in the near term. Nifty could now take support at 24,753 and later 24,420 while 25,453 could act as a resistance in the near term.
(View by: Deepak Jasani, Head of Retail Research at HDFC Securities)
3:54 PM
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Stock Market Highlights LIVE Updates: Market pessimism expected to continue in near term
The bearish sentiment continued as investors are monitoring the escalating conflict in the Middle East and have adopted a sell-on recovery strategy. Crude prices have moved up sharply but may be restricted due to an increase in production from OPEC+.
The drag was across sectors led by realty, auto, and FMCG except IT stocks, which gained due to expected benefits from US rate cuts and defensive nature. The pessimism on the market is expected to continue in the near term amidst rising crude prices and fund flows to cheaper markets like China.
(View by: Vinod Nair, Head of Research, Geojit Financial Services.)
The drag was across sectors led by realty, auto, and FMCG except IT stocks, which gained due to expected benefits from US rate cuts and defensive nature. The pessimism on the market is expected to continue in the near term amidst rising crude prices and fund flows to cheaper markets like China.
(View by: Vinod Nair, Head of Research, Geojit Financial Services.)
3:48 PM
Stock Market Highlights LIVE Updates: Infosys, HDFC Life, ONGC end 1% higher on NSE
On NSE Infosys, HDFC Life, ONGC ended around 1% higher each, while M&M, Bajaj Finance and Asian Paint sustained losses between 2-3 per cent.
3:44 PM
Stock Market Highlights LIVE Updates: All but two sectors plummet
All sectors ended in red on Thursday, except Nifty IT and Nifty PSU Bank which closed higher on Thursday. The sectors that dipped the most included Nifty Realty, FMCG and Auto among others.
3:42 PM
Stock Market Highlights LIVE Updates: Broader markets fall in line with benchmarks
In the broader market, the BSE SmallCap closed 0.80 per cent lower, while BSE MidCap slipped 0.94 per cent at close.
3:39 PM
Stock Market Highlights LIVE Updates: 21 out of 30 stocks end in red on Sensex
On BSE Sensex, Bajaj Finance, Asian Paint and M&M were top losers, while Infosys, Tata Motors and Tech Mahindra ended in green.
3:35 PM
Stock Market Highlights LIVE Updates: Nifty holds 25,000 mark, slips over 200 pts
NSE's Nifty 50 was finished at 25,014, down 235 points, or 0.93 per cent.
3:32 PM
Stock Market LIVE Updates: Sensex closes over 800 pts down
The BSE Sensex finished at 81,688, down 808 points, or 0.98 per cent lower on Friday.
3:16 PM
Stock Market LIVE Updates: India VIX jumps close to 7%
As equity markets jumped from green to red throughout the day on Thursday, the volatility gauge of India, India VIX jumped 6.68 per cent intraday.
3:12 PM
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Germany's Thyssenkrupp loses fight against EU veto of Tata Steel JV
German conglomerate Thyssenkrupp on Friday lost its fight against a European Union antitrust veto five years ago of its proposed joint venture with Tata Steel, which was aimed at creating Europe's second-largest steelmaker.
The Luxembourg-based Court of Justice of the European Union (CJEU), Europe's highest, sided with the European Commission and dismissed Thyssenkrupp's appeal entirely, the judges said. Read more
3:02 PM![]()
Stock Market LIVE updates: 3 PM market update
Stock Market LIVE Updates: At 3 PM, the BSE Sensex was at 81,655, down 841 points, or 1.02 per cent, while the Nifty 50 was at 25,004, down 245 points, or 0.97 per cent.
2:57 PM![]()
Stock Market LIVE Updates: Oil India, ONGC surge up to 6% in weak market on rising crude oil prices
Upstream cos in focus:Shares of upstream companies Oil India and Oil and Natural Gas Corporation (ONGC) have gained up to 6 per cent on the BSE in Friday’s intra-day trade amid rising crude oil prices on escalating tensions in the Middle East. Brent crude soared over 5 per cent on Thursday, October 3, 2024, marking its biggest rise in a year. Read more
2:55 PM![]()
Stock Market LIVE Updates: The mother of all bear markets in equities is dead: Shankar Sharma
Developments in West Asia have triggered a panic-like situation across global equity markets. Business Standard caught up with SHANKAR SHARMA, founder, GQuant Investech in New Delhi on his interpretation of the developments. Investor’s focus on China, he believes, can spoil the Indian equity market party. Read more
2:40 PM
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Stock Market LIVE Updates: JK Paper, West Coast Paper Mills: Paper stocks crisp in trade on Friday
Paper stocks advanced up to 7 per cent in intraday trade on Friday, but pared some gains in the afternoon trade. At around 1:35 PM, JK Paper shares were up 5.67 per cent on the BSE, West Coast Paper Mills shares were up 1.36 per cent, Emami Paper Mills 0.66 per cent, Tamil Nadu Newsprint and Papers 0.8 per cent, Andhra Paper 0.34 per cent, and Orient Papers & Industries 0.13 per cent. In comparison, the BSE Sensex traded 0.65 per cent lower at 81,960.29 around the same time. Read more
2:29 PM![]()
Stock Market LIVE Updates: 7 IPOs to garner investors attention next week; Full list
Stock Market LIVE Updates: The Indian primary markets have witnessed remarkable growth this year, with a notable surge in initial public offerings (IPOs). According to data from the Bombay Stock Exchange (BSE), a total of 118 companies have gone public so far in 2024. This includes 62 mainline companies that have made their debut on the bourses year-to-date, providing investors with a diverse range of opportunities. READ MORE
Topics : Stock Market MARKETS WRAP Indian stock market share market MARKETS LIVE Markets Sensex Nifty S&P BSE Sensex Nifty50 Nifty 50 BSE NSE BSE NSE equity Indian stock markets global stock market Global stock markets US markets Asia Markets MARKET WRAP
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First Published: Oct 04 2024 | 8:05 AM IST
