Market Close Highlights, Oct 9: Sensex sheds 167pts, Nifty nears 25k; RBI MPC holds rates at 6.5%

Stock Market Today: RIL, ITC, Nestle India, ONGC, and Hindustan Unilever were among the top laggards on the NSE Nifty50, with losses extending up to 3.04 per cent on Wednesday

Stock Market Highlights, Wednesday, October 9, 2024: Benchmark equity indices BSE Sensex, and NSE Nifty50 pared their early gains, and retreated to settle in negative territory on Wednesday. The Sensex shed 167.71 points, or 0.21 per cnet, to settle at 81,467.10. The index traded in the range of 82,319.21-81,342.89 levels today. 

Mirroring the Sensex, the Nifty50 toned down 31.20 points, or 0.12 per cent, to 24,981.95. The index traded in the range of 25,234.05-24,947.70 on Wednesday.

Meanwhile, the Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) kept the repo rate unchanged at 6.5% for the tenth consecutive term on Wednesday. The committee, however, announced a change in its stance from 'withdrawal of accommodation' to 'neutral'.

31 out of 50 constituent stocks of the Nifty50 index ended in the green with gains led by Cipla, Trent, Tata Motors, State Bank of India, and Tech Mahindra, rising up to 2.58 per cent. Conversely, Reliance Industries, ITC, Nestle India, ONGC, and Hindustan Unilever were among the 19 stocks that ended lower, with losses extending up to 3.04 per cent on Wednesday.

In the broader markets, the NSE Smallcap100 index rose 1.33 per cent, while the NSE MidCap index gained 0.97 per cent. The broader indices outperformed the benchmark indices today. Sectoral indices ended broadly in the green, except for Bank Nifty, FMCG, Private Bank, and OMCs. The Nifty Pharma, and Realty indices outperformed others, surging over 2 per cent each.

Sector-wise, Pharma and Realty led the gains, jumping over 2 per cent each. In contrast, Bank Nifty, FMCG, Private Bank, and OMCs ended in the red.