Market Close Highlights, Oct 8: Benchmarks snap 5-day losing run; Sensex up 585 pts, Nifty holds 25k
Stock Market Close Highlights Today: Adani Ports, M&M, Reliance Industries, HDFC Bank, L&T, SBI, Ultratech Cement, NTPC, and Kotak Bank were the top Sensex gainers today, up between 1 and 4.5 per cent
 "Photo: Shutterstock")
Photo: Shutterstock
Stock Market Close Highlights, Tuesday, October 8: Indian stock markets returned to their winning ways on Tuesday, snapping their 5-day losing run. The BSE Sensex today gained 584.81 points, or 0.72 per cent, to end at 81,634.8 levels. The Nifty50, too, shut shop at 25,013.15, up 217.38 points or 0.88 per cent as investors digested the Assembly elections results, and dazzling rally in China stocks moderated.
Investors were also waiting for the Reserve Bank of India's (RBI's) monetary policy decision on Wednesday.
Among individual stocks, Adani Ports, M&M, Reliance Industries, HDFC Bank, L&T, SBI, Ultratech Cement, NTPC, and Kotak Bank were the top Sensex gainers today, up between 1 per cent and 4.5 per cent.
Tata Steel, Titan Company, Bajaj Finserv, JSW Steel, Bajaj Finance, Tata Motors, and ITC, on the other hands, were the top Sensex losers today, down up to 2.7 per cent.
In the broader markets, the BSE MidCap index rose 1.86 per cent, and the BSE SmallCap index 2.44 per cent. The broader indices outperformed the benchmark indices today.
Meanwhile, among sectors, all the indices, barring the Nifty Metal index, rallied in trade today. The Nifty Media index jumped over 3 per cent, the Nifty Auto 1.84 per cent, and the Nifty Pharma 1.5 per cent.
4:02 PM
Stock Market Highlights LIVE Updates: State election win for BJP brought optimism in the domestic market
After sessions of corrections, India is getting some support at the level of 25,800 for Nifty50. Good state election result for the ruling party, contrary to the exit polls, has brought some optimism in the domestic market.
RBI policy outcome, though no cut is expected, a plausible change in stance to neutral is anticipated. And investors are likely to focus on the upcoming Q2 results where earnings are likely to improve marginally on a QoQ basis.
(View by: Vinod Nair, Head of Research, Geojit Financial Services.)
RBI policy outcome, though no cut is expected, a plausible change in stance to neutral is anticipated. And investors are likely to focus on the upcoming Q2 results where earnings are likely to improve marginally on a QoQ basis.
(View by: Vinod Nair, Head of Research, Geojit Financial Services.)
4:00 PM
Stock Market Highlights LIVE Updates: Downside, support is placed at 24,850 for Nifty50
The Nifty formed a bullish harami pattern on the daily timeframe, indicating rising optimism. Additionally, the index has moved above a critical moving average on the hourly timeframe.
The RSI has made a bullish crossover in the shorter timeframe, further supporting the positive outlook. In the near term, the index may move towards the 25,350–25,400 range. On the downside, support is placed at 24,850, and a break below this level could lead to weakness.
(View by: Rupak De, Senior Technical Analyst, LKP Securities)
The RSI has made a bullish crossover in the shorter timeframe, further supporting the positive outlook. In the near term, the index may move towards the 25,350–25,400 range. On the downside, support is placed at 24,850, and a break below this level could lead to weakness.
(View by: Rupak De, Senior Technical Analyst, LKP Securities)
3:53 PM
Stock Market Highlights LIVE Updates: Nifty faces an immediate resistance zone at 25,150-25,300
After six consecutive days of decline, the markets rebounded, gaining nearly 1 per cent. Following a flat start, the Nifty gradually climbed throughout the day, primarily driven by a recovery in select heavyweight stocks, and closed near the day's high. Most sectors contributed to the rise, with auto, energy, and pharma leading the gains. The broader indices also saw a recovery, advancing over 2 per cent each.
While the recovery in key heavyweights could drive Nifty further upward, sustaining this momentum may be challenging. Nifty faces an immediate resistance zone around 25,150-25,300, with a significant hurdle still at 25,500. Traders should consider using this recovery to lighten positions and remain selective for long trades. We continue to favor IT and pharma stocks for their resilience and recommend careful stock selection in other sectors.
(View by: Ajit Mishra – SVP, Research, Religare Broking Ltd.)
(View by: Ajit Mishra – SVP, Research, Religare Broking Ltd.)
3:45 PM
Stock Market Highlights LIVE Updates: SBI Life, Tata Steel fall up to 3% on NSE
SBI Life was the top loser on NSE, slipping 3.24 per cent at the closing bell and was followed by Tata Steel, Titan and Bajaj Finserv among others.
3:42 PM
Stock Market Highlights LIVE Updates: Nifty Media ends 3% higher
Among sectors, Nifty Media outran others, climbing 3.11 per cent and was followed by Nifty Healthcare, Nifty Pharma and Nifty Auto.
3:40 PM
Stock Market Highlights LIVE Updates: SmallCap index advances over 2% at close
The broader markets outperformed the benchmarks, as the BSE MidCap index surged 1.86 per cent, while the SmallCap index soared 2.44 per cent at the closing bell.
3:36 PM
Stock Market Highlights LIVE Updates: Heatmap check
Adani Ports closed 5 per cent higher on BSE Sensex and was closely followed by the likes of M&M, Reliance and HDFC Bank.
3:32 PM
Stock Market Highlights LIVE Updates: Sensex closes over 550 points higher
At close, the BSE Sensex was up 584 points, or 0.72 per cent, at 81,634 level.
3:32 PM
Stock Market Highlights LIVE Updates: Nifty ends over 200 points above at 25,013
NSE's Nifty 50 closed at 25,013, up 217 points, or 0.88 per cent.
3:18 PM
Stock Market LIVE updates: Jindal SAW shares climb 6% ahead of record date
Shares of leading Iron & Steel Products maker company, Jindal SAW, soared 5.65 per cent to a day's high of Rs 745.30 during intra-day deals on Tuesday. A total of 9.21 lakh equity shares worth around Rs 67.17 crore traded hands on the combined BSE, and NSE today. Read more
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First Published: Oct 08 2024 | 8:00 AM IST