Market Close Highlights, Oct 30: Sensex sheds 427pts, Nifty ends at 24,340; Smallcap stocks outshine

Stock Market Highlights: As many as 31 out of 50 constituent stocks ended in the red, dragged down by Cipla, Shriram Finance, Infosys, HDFC Life Insurance Company, and Trent

Stock Market Highlights, Wednesday, October 30, 2024: Benchmark equity indices, BSE Sensex and NSE Nifty50, ended their two-day winning streak, settling in the red on Wednesday amid mixed global cues.

The BSE Sensex shed 426.85 points, or 0.53 per cent, to settle at 79,942.18. Mirroring the Sensex, the Nifty50 ended lower by 125.99 points, or 0.51 per cent, to 24,340.85. 

As many as 31 out of 50 constituent stocks ended in the red, dragged down by Cipla, Shriram Finance, Infosys, HDFC Life Insurance Company, and Trent, with losses extending up to 4.03 per cent.

Conversely, gains were led by Adani Enterprises, Tata Consumer Products, Hero MotoCorp, Britannia Industries, and Maruti Suzuki India, which were among the 19 stocks that ended in the green, with gains extending up to 3.74 per cent on Wednesday.

Notably, small-cap stocks outperformed in the broader indices, as the Nifty Smallcap 200 index ended higher by 1.05 per cent. Meanwhile, the Nifty Midcap 100 index ended lower by 0.16 per cent.

Sectoral indices ended lower, barring Nifty FMCG, Media, Metal, and select healthcare on Wednesday.

4:03 PM

Stock Market Highlights LIVE Updates: On the lower end, supports are placed at 24,250 and 24,000 for Nifty50

Nifty remained volatile throughout the day, trading within a range of 24,300 to 24,500. On the hourly chart, Nifty encountered resistance around the 50 EMA, leading to a correction toward 24,300. Sentiment may stay sideways as long as Nifty remains within the range of 24,250 to 24,500. A decisive breakout from this range is likely to give direction to Nifty. On the lower end, supports are placed at 24,250 and 24,000, while resistances are seen at 24,500 and 24,750.

(View by: Rupak De, Senior Technical Analyst, LKP Securities. )

 

4:01 PM

Stock Market Highlights LIVE Updates: Nifty has struggled to surpass the 24,500 resistance level

Markets experienced volatility and ended down nearly half a percent amid mixed signals. Following an initial dip, the Nifty moved within a range, ultimately closing near the lower end. Most sectors, except FMCG, declined, with banking, pharma, and IT leading the losses. However, broader indices showed resilience, with the small-cap index gaining over a percent.  

 

Nifty has struggled to surpass the 24,500 resistance level for the past three sessions due to mixed trends among heavyweights. We continue to recommend focusing on leading stocks in banking and IT for a decisive break above this level; otherwise, consolidation is likely to persist. In the meantime, traders should maintain a hedged approach and prioritize selective stock picking.

(View by: Ajit Mishra – SVP, Research, Religare Broking)

 

3:50 PM

Stock Market Highlights LIVE Updates: Domestic market remains cautious due to aggressive selling by FIIs

The domestic market remains cautious due to aggressive selling by FIIs. Positively, strong domestic inflows are supporting market resilience though volatility has markedly increased. Other EMs are also consolidating in anticipation of upcoming US economic data releases, elections, and the FOMC interest rate decision. Considering the weak Q2 domestic earnings and muted commentary, India's premium valuations are moderating.

(View by: Vinod Nair, Head of Research, Geojit Financial Services.)

 

3:45 PM

Stock Market Highlights LIVE Updates: Adani Ent, Hero MotoCorp gain on NSE

Adani Enterprises was the top gainer on NSE, followed by Hero MotoCorp, and Tata Consumer.

3:43 PM

Stock Market Highlights LIVE Updates: Nifty Financial, Pharma, Healthcare lead sectoral losses

Among sectors, Nifty Financial Services, Nifty Pharma and Nifty Healthcare led losses. 

3:38 PM

Stock Market Highlights LIVE Updates: BSE SmallCap index outperforms

The BSE SmallCap index surged 1.54 per cent, while BSE MidCap index closed marginally in green, up 0.04 per cent.

3:34 PM

Stock Market Highlights LIVE Updates: Heatmap check

Infosys, ICICI Bank and M&M ended as top losers on BSE Sensex.

3:34 PM

Stock Market Highlights LIVE Updates: Nifty ends below 24,350

NSE's Nifty settled at 24,340.85 level, down 125.99 points or 0.51 per cent on Wednesday.

3:31 PM

Stock Market Highlights LIVE Updates: Sensex ends over 400 pts down

The BSE Sensex closed at 79,942.18 level, down 426.85 points or 0.53 per cent on Wednesday. 

 

3:20 PM

Stock Market LIVE Updates: CRISIL gains over 4% to hit 52-week high as stock trades ex-date today

Shares of credit rating company CRISIL advanced 4.44 per cent to a 52-week high of Rs 5,435 on the NSE during intra-day trade on Wednesday, in an otherwise weak market. A combined total of nearly 0.012 million shares of CRISIL, worth around Rs 69.01 crore, exchanged hands on NSE and BSE today.

 

The uptick in CRISIL's share price follows the company's announcement of dividend rewards for its shareholders. CRISIL, in a regulatory filing, informed the bourses that the company’s board approved the payment of a third interim dividend of Rs 15 per equity share of face value of Re 1 each, for the financial year ending December 31, 2024. The dividend will be paid on November 13, 2024. Read more

3:09 PM

Stock Market LIVE Updates: This smallcap IPO zooms 109% from its issue price within 2 months

Shares of Gala Precision Engineering hit a record high of Rs 1,105.45, as they surged 17 per cent on the BSE in Wednesday’s intra-day trade in an otherwise weak market. In the past three days, the stock price of this smallcap company has soared 31 per cent. It surpassed its previous high of Rs 974 on October 17, 2024. In comparison, the BSE Sensex was down 0.5 per cent at 79,980 at 01:59 PM. Read more

 

3:03 PM

Stock Market LIVE updates: 3 PM market update

At 3 PM, the BSE Sensex was down 404 points, or 0.50 per cent, at 79,964 , while the Nifty 50 was at 24,349, down 117 points, or 0.48 per cent.

 

2:54 PM

Stock Market LIVE Updates: Ambani's Reliance plays catch-up to ride quick commerce wave in country

Stock Market LIVE Updates: Asia's richest man Mukesh Ambani is mimicking the strategy of popular Indian grocery startups to drastically change how his retail empire operates: from home deliveries that can take a day or two, his business is now targeting a 10-30 minute service.

 

Quick commerce has reshaped how Indians shop as Zomato, SoftBank-backed Swiggy and Zepto now promise deliveries from their neighbourhood warehouses within 10 minutes, even beating Amazon. READ MORE

 

2:45 PM

Stock Market LIVE Updates: GDP growth, inflation among key triggers that may drive mkts in Samvat 2081

Stock Market LIVE Updates: Amid heightened geopolitical tensions, sticky inflation that kept interest rates higher for most part of Samvat 2080, and valuation woes, Indian stock markets fought numerous challenges over the past one year.

 

Despite this, the BSE Sensex has gained 23.8 per cent, while the Nifty 50 has climbed 25.95 per cent thus far in the outgoing Samvat amid ample liquidity support from retail and domestic institutional investors. READ MORE

 

2:34 PM

Stock Market LIVE Updates: SoftBank-backed Swiggy's Rs 11,000-cr IPO key details revealed; check here

Stock Market LIVE Updates: The SoftBank-backed initial public offering (IPO) of online food delivery provider Swiggy is set to open for public subscription on Wednesday, November 6, 2024. At the upper end, the company seeks to raise Rs 11,327.43 crore by offering a fresh issue of 115,358,974 shares, and an offer for sale of 175,087,863 shares with a face value of Re 1 apiece.

 

Bidding for anchor investors for Swiggy IPO is scheduled to take place on Tuesday, November 5, 2024, the company stated in the Red Herring Prospectus. READ MORE