Stock Market Today: Nifty, Sensex, Nifty Bank Extend Losing Streak To Sixth Day
During the session, Nifty 50 declined 1.82% to 24,694.35 and the Sensex declined 1.75% to 80,726.00, marking their lowest level since Aug 21.
The image is for representation. (Source: Freepik)
KEY HIGHLIGHTS
Stock Market Update: US Futures Decline
The December futures of Dow Jones was at 42,463.00 as of 3:27 p.m., down 183.00 points or 0.43%, those of
S&P 500 were at 5,770.2, 29.75 points or 0.51% lower, and Nasdaq 100 December futures were at 20,094.50, lower by 132.7 points or 0.66%.
Economic Data Releases And Events For Oct 7 And Oct 8
Germany: Deutsche Bundesbank President Joachim Nagel is due to speak in Frankfurt — 8:00 p.m. IST
Europe: Eurogroup meeting
US: Federal Reserve Governor Michelle Bowman will speak at the Independent Bankers Association of Texas Annual Convention, in San Antonio — 10:30 p.m. IST
US: Federal Reserve Bank of Minneapolis President Neel Kashkari will participate in a fireside chat about the economy, bank regulation, and M&A trends at the Bank Holding Company Association Fall Seminar — 11:20 p.m. IST
US: Consumer Credit — 12:30 a.m. IST
US: Federal Reserve Bank of St. Louis President Alberto Musalem will speak at the Money Marketeers of New York University — 4:00 a.m. IST
Australia: Wespac Consumer Sentiment — 5:00 a.m. IST
Japan: Household Spending — 5:00 a.m. IST
Japan: Average Cash Earnings — 5:00 a.m. IST
Japan: Current Account Deficit — 5:20 a.m. IST
Australia: RBA Monetary Policy Meeting Minutes — 6:00 a.m. IST
Australia: National Australia Bank Business Confidence — 6:00 a.m. IST
Australia: RBA Deputy Governor Andrew Hauser will speak at the Walkley Foundation in Sydney — 6:30 a.m. IST
Germany: German Industrial Production — 11:30 a.m. IST
France: French trade balance — 12:15 p.m.
US: Federal Reserve Governor Adriana Kugler will speak at the ECB Conference on Monetary Policy, in Frankfurt — 12:30 p.m. IST
Nifty, Sensex Close At Nearly One–Month Lows As HDFC Bank, RIL Share Prices Drag
The NSE Nifty 50 and BSE Sensex ended over one–month low on Monday as HDFC Bank Ltd., Axis Bank Ltd. declined. The benchmarks also declined for six days in a row and shed over 5%. It's the worst six–day decline since March 2022.
The Nifty 50 ended 218.85 points or 0.87% lower at 24,795.75, and the Sensex closed 638.45 points or 0.78% lower at 81,050.00.
During the session, Nifty 50 declined 1.82% to 24,694.35 and the Sensex declined 1.75% to 80,726.00, marking their lowest level since Aug 21. The Nifty 50 index dipped below support level of 24,750.
The Nifty Bank ended 1.91% lower at 50,478t.90, the lowest closing level since Aug 19. The index also declined 3.17% to 50,194.30, the lowest level since Aug 16. The index ended
"In the series of bearish candles, Nifty 50 added one more red candle to the daily chart and formed a Three Black Crows pattern. Only in the case of a strong sustainable move above 25,000, trend reversal be confirmed till then markets are likely to remain in the grip of bears with the next support being placed at 24,400," said Aditya Gaggar, director, Progressive Shares.
the Sensex closed 638.45 points or 0.78% lower at 81,050.00.
he Nifty 50 ended 218.85 points or 0.87% lower at 24,795.75.
The Nifty Bank ended 1.91% lower at 50,478t.90, the lowest closing level since Aug 19.
HDFC Bank Ltd., Reliance Industries Ltd., Nestle India ltd., Axis Bank Ltd., and State Bank of India were the top draggers in the Nifty 50 index.
Infosys Ltd., Bharti Airtel Ltd., Mahindra & Mahindra Ltd., Trent Ltd., and Tata Consultancy Services Ltd. limited gains in the index.
Top contribution to the NSE Nifty 50 index.
On NSE, 11 sectors ended lower and one higher out of 12. The NSE Nifty Media was the worst performing sector, and the NSE Nifty IT was the top performing sector.
On NSE, 11 sectors ended lower and one higher out of 12.
Broader indices underperformed. BSE Midcap closed 1.85% lower and BSE Smallcap was 3.3% down at close.
All sectoral indices closed lower on the BSE except BSE IT and BSE Teck.
Market breadth was skewed in the favour of sellers. As many as 3,416 stocks fell, 643 rose, and 119 remained unchanged on the BSE.
Rupee Ends Flat Against US Dollar
Rupee closed flat at 83.98 against the US dollar. It closed at 83.97 on Friday, according to data on Bloomberg.
Market At Close
The NSE Nifty 50 and BSE Sensex recorded their worst six–day fall since March, 2022.
The Nifty 50 and Sensex declined to their lowest levels in over one month.
HDFC Bank Ltd., and Reliance Industries Ltd. share prices were top loser in the Nifty 50 index.
Infosys Ltd., and Bharti Airtel Ltd. were the top gainer in the index.
The NSE Nifty IT was the only sector to end on a positive note. The sectoral index is also the top performer.
The NSE Nifty Media declined the most among sectoral indices.
