Sensex plummets 450 points in early trade, Nifty falls below 19,400 mark
Business | October 04, 2023 10:29 ISTThe BSE Sensex recorded a substantial decline of over 450 points, while the NSE Nifty dipped below the 19,400 mark.
The BSE Sensex recorded a substantial decline of over 450 points, while the NSE Nifty dipped below the 19,400 mark.
The conglomerate led by mining magnate Anil Agarwal unveiled a substantial business restructuring plan on Friday. As part of this strategic move, Vedanta's flagship company has given the green light to spin off its metals, power, aluminum, and oil and gas businesses into separate listed entities.
At the opening bell, the Sensex stood at 65,511, while the broader Nifty index was at 19,537. This downward trend in the stock market reflects cautious sentiment among investors.
The trading session was marked by volatility associated with the expiry of futures and options (F&O) contracts, as well as the influence of weakened global cues.
The Nifty 50 concluded the day at 19,728.25, gaining 63.55 points or 0.32 per cent, while the BSE Sensex, a 30-share benchmark, surged by 173 points or 0.26 per cent to close at 66,118.69.
Market breadth showcased a balanced picture with 1,791 stocks advancing, 1,756 stocks declining, and 122 stocks remaining unchanged.
In equity market, multibagger stocks are nothing but equity shares that generate higher returns, usually that multiplies in price.
The BSE Sensex managed to secure a modest gain of 15 points, closing at 66,024, while the Nifty 50 remained nearly unchanged, concluding at 19,675 points.
After oscillating nearly 500 points between gains and losses during the day, the 30-share BSE Sensex declined 221.09 points or 0.33 per cent to settle at 66,009.15.
The losses came amid a backdrop of mixed global cues, with investors keeping a close eye on the upcoming US Federal Reserve policy outcome.
Sensex Nifty today: Indian stock indices extended losses from the previous session and edged sharply lower today, tracking weak overnight US markets coupled with rising global crude oil prices amid the strengthening of the US dollar.
The 30-share BSE Sensex registered a decline of 241.79 points or 0.36%, settling at 67,596.84 after a day of volatile trading.
Notably, the Nifty 50 reached a new milestone by hitting an all-time high of 20,167.65, and the BSE Sensex also joined the rally by achieving a fresh all-time high of 67,771.05 points in the early trading session.
The 30-share BSE Sensex regained the 67,000 level. The benchmark jumped 528.17 points or 0.79 per cent to settle at 67,127.08. During the day, it rallied 573.22 points or 0.86 per cent to 67,172.13.
NSE Emerge is an initiative by the National Stock Exchange for small and medium-sized enterprises and startup companies in the country.
Looking to cash in on the growth opportunity, Delhi based Exxaro Tiles has announced unveiling a new showroom in Mumbai as part of its expansion spree.
Propelled by the government initiates, the manufacturing sector has produced several multibaggers on the Dalal Street over the last few years and still has potential to create several multibaggers going forward.
The selling price will be based on a valuation certificate issued by a SEBI-approved merchant banker and the valuation based on ADPL's financial statement for the financial year ended March 31, 2023.
The new laboratory will enhance its research capabilities by adding high-end scientific laboratory instruments. The objective behind setting up a new facility is to foster a dynamic research environment that encourages interdisciplinary collaboration and drives innovation.
At 9:15 am, the Nifty 50 record plunged by 0.14 percent to 19,436.30, and the S&P BSE Sensex edged down 0.15 percent to 65,439.50.
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