Stock Market Today: Nifty, Sensex End At Over Four–Month Low; RIL, HDFC Bank Top Losers
The Nifty 50 and Sensex recorded their worst session in over a month in terms of intraday losses.
The image is for representation. (Photo source: Envato)
KEY HIGHLIGHTS
Economic Data Releases And Events For Nov 4
Europe: Euro group meeting
US: Factory orders — 8:30 p.m.
US Futures Trade With Little Gains
At 3: 29 p.m., Futures contract of Dow Jones was 0.02% higher at 42,221.00, that of S&P 500 rose 0.1% to 5,765.25, and Nasdaq 100 was also up 0.1% at 20,166.50.
Nifty, Sensex Record Worst Session In Over A Month; RIL Falls 4%: Market Wrap
The NSE Nifty 50 and BSE Sensex ended the lowest level in over months on Monday as Reliance Industries Ltd. and HDFC Bank Ltd. share prices dragged. The benchmark indices also recorded their worst session in a month in terms of intraday decline.
The Nifty 50 settled 309.00 points or 1.27% down at 23,995.35, and the Sensex ended 941.88 points or 1.18% down at 78,782.24.
Intraday, the Nifty 50 fell as much as 2.01% to 23,816.15, and the Sensex declined 1.87% to 78,232.
The Sensex fell below 79,000 mark for the first time since Aug 14, and the Nifty declined below 24,000 for the first time since Aug 6.
The NSE India Volatility Index jumped 10.67% to 17.60, the highest level since Aug 7. The index pared gains to end 4.94% higher at 16.69.
The top dragger, Reliance Industries fell 4% to Rs 1,285.10 apiece, the lowest in over nine months a day after its bonus shares started trading on the exchanges.
The Sensex ended 1.18% down at 7,872.24.
The Nifty 50 ended 1.29% down at 23,990.35.
"With a bearish open marubozu candlestick pattern, bears showed their presence and the overall technical structure is weak with a series of lower highs and lower lows. Today's low will be considered as a critical support point and in the case of a breakdown, there is a high probability of testing 200DMA support which is at 23,460 while on the flip side, the zone of 24,100-24,180 will serve as a strong hurdle," said Aditya Gaggar, director, Progressive Shares.
The Nifty Bank ended 0.86% down at 51,231.00.
Reliance Industries Ltd., HDFC Bank Ltd., ICICI Bank Ltd., Axis Bank Ltd., and Bharti Airtel Ltd. weighed on the index.
Mahindra & Mahindra Ltd., State Bank of India, Infosys Ltd., Tech Mahindra Ltd., and Cipla Ltd. limited losses to the index.
Top contribution to the NSE Nifty 50 index.
On NSE, all 12 sectors ended lower with the NSE Nifty Realty decline the most.
Sectoral indices ended lower on NSE Monday.
Broader indices also fell. BSE Midcap closed 1.3% lower and BSE Smallcap lost 1.7%.
All 21 sectoral indices on the BSE fell with BSE Realty losing the most.
Market breadth was skewed in the favour of sellers. As many as 2,705 stocks fell, 1,357 rose, and 137 remained unchanged on the BSE.
Rupee Ends At Record Closing Low Against US Dollar
The rupee weakened by 3 paise to close at 84.11 against the US dollar. The currency weakened to a record low of 84.12 during the day. It closed at 84.08 on Friday, according to data on Bloomberg.
The Indian unit declined 0.05% to 84.12 a dollar.
Market At Close
The NSE Nifty 50 and BSE Sensex recorded their worst session in a month.
The benchmark indices ended at their lowest levels since late June.
Reliance Industries Ltd., HDFC Bank Ltd., and ICICI Bank Ltd. were the top dragger in the Nifty 50 index.
Mahindra & Mahindra Ltd., State Bank of India, and Infosys Ltd. were top gainers in the index.
The NSE Nifty Realty was the worst performing sectoral index, while the NSE IT was the best performing sectoral index.
The NSE Nifty Oil & Gas declined to nearly five–month low. The index ended 2.48% down at 11,158.20.
The NSE Nifty Midcap 150 ended 1.21% down at 20,767.40.
The NSE Nifty Smallcap 250 ended 1.84% down at 17,609.50.
