Stock Market Today: Nifty, Sensex Record Worst Day In Nearly Two Months As RIL, ICICI Bank Weigh
During the session, the Nifty declined 1.46% to 25,796.65, and the Sensex declined 1.52% to 84,274.64.
The image is for representation. (Photo source: NDTV Profit)
KEY HIGHLIGHTS
US Futures Trade Slight Decline With Fed Chair's Speech In Focus
US futures were trading with slight decline in pre-market hours with the Federal Reserve Chair Jerome Powell's speech in focus. Further, market participants will assess geopolitical development in the West Asia.
The S&P 500 Futures were trading 0.05% lower at 5,788.25 as of 3:38 p.m. The Dow Jones Industrial Average futures were trading 0.08% down at 42,620.00 as of 03:39 p.m.
The Nasdaq 100 futures were trading 0.08% down at 20,206.25 as of 3:40 p.m.
Economic Data Releases & Events On Sept 30
US: Federal Reserve Chair Jerome Powell will speak at the National Association for Business Economics Annual Meeting, in Nashville
US: Federal Reserve Governor Michelle Bowman will speak about the economic outlook and monetary policy at the Georgia Bankers Association
US: Chicago PMI
Europe: ECB President Christine Lagarde will speak about monetary policy at the European Parliament, in Brussels
Rupee Weakens Against US Dollar
Rupee weakened by 10 paise to close at 83.80 against the US dollar. It closed at 83.70 on Friday, according to data on Bloomberg.
Nifty, Sensex Record Worst Day In Nearly Two Months As RIL, ICICI Bank Weigh: Market Wrap
The NSE Nifty 50 and BSE Sensex had its worst day in nearly two months on Monday tracking sharp fall in heavyweight Reliance Industries Ltd., ICICI Bank Ltd.
The Nifty 50 ended 356.70 points or 1.36% down at 25,822.25, and the Sensex settled 1,272.07 points or 1.49% down at 84,299.78
During the session, the Nifty declined 1.46% to 25,796.65, and the Sensex declined 1.52% to 84,274.64.
Indian markets witnessed sharp fall in the last day of September on mixed global cues. At one side, tensions heightened after Israel killed Hezbollah's high profile leader Hassan Nasrallah. This raised concerns about possibility of a widespread war in the Middle East, which can potentially hurt oil supply.
On the other side, data showed the US Federal Reserve's preferred inflation gauge declined in August fueling hopes of larger quantum of policy easing.
The Fed Chair Jerome Powell will speak at the National Association for Business Economics Annual Meeting, in Nashville, which will be in investors' focus.
"Considering the higher top higher bottom formation, the next support for the Index comes at 25,500 coupled with 21-day moving average support and due to the change in polarity, once again 26,000 will be considered as an immediate hurdle," said Aditya Gaggar, director, Progressive Shares.
Reliance Industries Ltd., ICICI Bank Ltd., HDFC Bank Ltd., Axis Bank Ltd., and Infosys Ltd. weighed on the index.
NTPC Ltd., JSW Steel Ltd., Tata Steel Ltd., Hindalco Industries Ltd., and LTIMindtree Ltd. limited losses.
On NSE, 10 sectors declined, and two advanced out of 12. The NSE Nifty Auto emerged as the top loser, while the NSE Nifty Metal emerged as the top leader.
Broader indices outperformed the benchmarks with BSE Midcap closed 0.28% lower and BSE Smallcap was 0.07% higher at close.
Two of the 20 sectoral indices ended higher and 18 declined on the BSE. BSE Realty fell the most.
Market breadth was skewed in the favour of sellers. As many as 2,201 stocks fell, 1,837 rose, and 155 remained unchanged on the BSE.
Market At Close
The Nifty 50 and Sensex recorded the worst intraday decline since Aug 5.
Reliance Industries Ltd., and ICICI Bank Ltd. were the top loser.
NTPC Ltd., JSW Steel Ltd. are the top leader in the Nifty 50 index.
The NSE Nifty Auto and Finance are the top loser sector.
The NSE Metal Index rose 1.98% to a fresh high of 10,263.65 as China's measures to aid economy boost sentiment for these companies. It ended 1.20% higher 10,185.85
The NSE Nifty Pharma rose 0.25% to a fresh high of 23,578.50. The index settled 0.94% down at 23,297.15
The NSE Nifty Midcap 150 ended 0.25% down at 22,311.95.
The NSE Nifty Smallcap 250 ended 0.06% higher at 18,410.70
