Sensex plunges 500 points; Nifty falls 160 points at 18,962
October 26, 2023 11:59 ISTForeign Institutional Investors (FIIs) offloaded equities worth Rs 4,236.60 crore on Wednesday, according to exchange data.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 4,236.60 crore on Wednesday, according to exchange data.
The Sensex, which comprises 30 large-cap companies listed on the BSE, opened at 62,987.25 points and eventually settled at 63,031.91 points, marking a gain of 0.07% or 40.73 points compared to its previous closing.
Several sectors are contributing to the upward momentum, with banking, IT, and pharmaceuticals showing positive trends in early trade. This is in line with the broader market optimism regarding the growth and profitability of these sectors.
the Nifty 50 index experienced a challenging day, trading at 19,566 points, a 0.59% decrease.
The Bank Nifty index commenced the day at 44,404.20, down slightly by 4.5 points from its previous close. Several sectoral indices showed a mixed trend at the start of trading.
The 30-share BSE Sensex declined 115. 81 points to settle at 66,166. 93. During the day, it fell 243.36 points to 66,039.38. The Nifty slipped 19.30 points to 19,731.75.
The market seemed to reflect a cautious yet balanced approach from investors on the first trading day of the week.
Closing market bell: BSE Midcap declined by 17.11 points or 0.05 pc to 32,305.62 and SmallCap by 13.67 points or 0.04 pc to 38,184.83 in broader market. Key Asian indices declined following losses in the US markets due to a rebound in bond market yields.
Leading Asian indices experienced notable gains, with Japan and South Korea posting increases of at least 0.8%. These positive moves have set MSCI's Asian equity index on a path toward its sixth consecutive day of gains.
Financial services firm CLSA has released its top stock picks following the upgrade, expressing high confidence in companies such as Reliance Industries, HDFC Bank, ICICI Bank, Bharti Airtel, SBI, Bajaj Finance, L&T, Axis Bank, ONGC, and Tata Motors.
Nifty Smallcap 250 led with a 0.82% gain, followed by Nifty Microcap 250, surging 1.06%. Notable performances included Nifty Smallcap 100 (0.79%), Nifty Midsmallcap 400 (0.74%), Nifty Midcap 100 (0.71%), and Nifty Smallcap 50 (0.65%).
Vodafone Idea Ltd, Infibeam Avenues Ltd, YES Bank Ltd, Punjab National Bank, Indian Overseas Bank, Ujjivan Small Finance Bank Ltd, Bank of Maharashtra, and Rail Vikas Nigam Ltd were among the top companies that lost points in early trade.
The major gainers in the Sensex stack are Bajaj Finserv, Titan, Bajaj Finance, JSW Steel, Maruti, Tata Motors and IndusInd Bank.
Asian shares experienced a rebound from their 11-month lows on Thursday, benefitting from a decline in oil prices and softer-than-expected US labor data. These factors contributed to improved market sentiment across the region.
The BSE Sensex recorded a substantial decline of over 450 points, while the NSE Nifty dipped below the 19,400 mark.
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.
In the opening bell on Thursday, the 30-share BSE Sensex climbed 287.32 points to 66,406.01 in early deals. The Nifty advanced 50.2 points to 19,766.65.
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.
The 30-share BSE Sensex fell 202.34 points to 65,743.13. The Nifty declined 60.55 points to 19,604.15.
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