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

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.