Market Close Highlights, Oct 16: Sensex sheds 319 pts, Nifty below 25k; Auto, IT indices fall 1%
Stock Market Today: The BSE Sensex shed 318.76 points or 0.39 per cent to settle at 81,501.36. Similarly, Nifty50 ended at 24,971.30, down 86.05 points or 0.34 per cent
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Share Market Today: Foreign institutional investors (FIIs) net sold shares worth Rs 1,748.71 crore on Tuesday, October 15, while domestic institutional investors (DIIs) net bought shares worth Rs 1,654.96 crore. (Photo: Bloomberg)
Stock Market Highlights, Wednesday, October 16, 2024: Benchmark equity indices BSE Sensex, and NSE Nifty50 settled in the negative territory on Wednesday.
The BSE Sensex shed 318.76 points or 0.39 per cent to settle at 81,501.36. Similarly, Nifty50 ended at 24,971.30, down 86.05 points or 0.34 per cent.
The day ended in favour of the bears as 34 out of 50 constituent stocks of Nifty50 ended in red, dragged by Trent, Mahindra & Mahindra, Infosys, Hero MotoCorp, and Adani Ports with losses extending up to 3.61 per cent. Conversely, HDFC Life Insuarnce Company, HDFC Bank, Dr Reddy's Labs, Grasim, and Bajaj Auto were among 16 stocks that ended in green with gains extending up to 1.79 per cent.
Among the broader indices, the Nifty Small 100 managed to settle in the green with marginal gains of 0.01 per cent, while the Nifty Midcap 100 index ended down by 0.24 per cent.
Auto and IT indices were the top laggards among sectoral indices, ending down by over 1 per cent each. Media, Metal Pharma, FMCG, Realty, Private Bank, Consumer Durables, and Healthcare indices also ended in the red on Wednesday.
Meanwhile, Financial Services, Realty, and OMCs indices managed to eke out some gains of up to 0.55 per cent.
3:58 PM
(View by: Rupak De, Senior Technical Analyst, LKP Securities)
Tech View: Market sentiment bearish, break below 24,900 could intensify weakness
The Nifty has slipped after a brief consolidation on the hourly time frame, suggesting increasing bearish sentiment among traders. The recent weakness has led Nifty below the 38.20 per cent retracement of the previous rise from 24,694 to 25,212.
Sentiment now appears slightly bearish, with immediate support at 24,900. A break below this level could intensify the weakness, potentially dragging Nifty down to 24,700. On the upside, 25,000 remains a strong resistance; only a decisive breakout above this level may trigger a directional rally in the market.
Sentiment now appears slightly bearish, with immediate support at 24,900. A break below this level could intensify the weakness, potentially dragging Nifty down to 24,700. On the upside, 25,000 remains a strong resistance; only a decisive breakout above this level may trigger a directional rally in the market.
(View by: Rupak De, Senior Technical Analyst, LKP Securities)
3:51 PM
Comment: Market traded with negative bias on fears of downgrade in FY25 earnings
The national market traded range bound with a negative bias due to the fear of a downgrade in FY25 earnings, which could impact the sustainability of premium valuation.
The participants are expecting only a slow pace in earnings expansion in Q2FY25 due to insipid demand and volatility in input prices. The rate of recovery in Q2 compared to Q1 is below expectation.
(Comment by: Vinod Nair, Head of Research, Geojit Financial Services.)
The participants are expecting only a slow pace in earnings expansion in Q2FY25 due to insipid demand and volatility in input prices. The rate of recovery in Q2 compared to Q1 is below expectation.
(Comment by: Vinod Nair, Head of Research, Geojit Financial Services.)
3:43 PM
Stock Market Highlights LIVE Updates: HDFC Life, Dr Reddy's and Grasim Ind lead on NSE
HDFC Life, Dr Reddy's and Grasim rose up to 2 per cent on NSE, while Trent, M&M and Infosys ended in red.
3:41 PM
Stock Market Highlights LIVE Updates: Nifty IT, Auto lead losses among sectors
Among sectors, Nifty IT and Nifty Auto fell over 1 per cent each at close, while Nifty Realty and Nifty Financial services finished in green.
3:39 PM
Stock Market Highlights LIVE Updates: Broader market mixed
In broader markets, the BSE MidCap fell 0.10 per cent, while the BSE SmallCap ended in green, rising 0.31 per cent.
3:36 PM
Stock Market Highlights LIVE Updates: Heatmap check
25 out of 30 stocks ended in red on the BSE Sensex, with M&M, Infosys, Kotak Mahindra Bank and JSW Steel falling up to 3 per cent.
3:32 PM
Stock Market Highlights LIVE Updates: Nifty ends below 25,000 mark
NSE's Nifty 50 finished at 24,971, down 86 points, or 0.34 per cent on Wednesday.
3:31 PM
Stock Market Highlights LIVE Updates: Sensex ends over 300 pts down
The BSE Sensex closed at 81,501, down 318 points, or 0.39 per cent on Wednesday.
3:13 PM
On the NSE alone, the trading volume of Gala Precision Engineering jumped to 4,13,933, nearly 7 times its weekly average volume of 63,527, leading to a surge in the stock price. Read more
Stock Market LIVE Updates: Gala Precision Engineering shares skyrocket 15% due to heavy volume
Shares of Gala Precision Engineering climbed as much as 15.56 per cent to hit an all-time high of Rs 944.90 on the NSE today amidst heavy demand. A combined total of nearly 4.59 lakh shares worth around Rs 41.35 crore have exchanged hands on NSE and BSE on Wednesday.
On the NSE alone, the trading volume of Gala Precision Engineering jumped to 4,13,933, nearly 7 times its weekly average volume of 63,527, leading to a surge in the stock price. Read more
3:02 PM
Stock Market LIVE updates: 3 PM market update
At 3 PM, the BSE Sensex was at 81,549, down 271 points, or 0.33 per cent, while the Nifty 50 was at 24,984, down 72 points, or 0.29 per cent.
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First Published: Oct 16 2024 | 7:57 AM IST