Stock Market Today: Nifty, Sensex Extend Losses To Second Session As Infosys, M&M Decline
The Nifty 50 and Sensex declined for the second day as impact of sell–off across the globe seeped into Indian markets.
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NSE headquarters in Mumbai. (Source: Vijay Sartape/NDTV Profit)
KEY HIGHLIGHTS
US Futures Little Changed Amid Quarterly Earnings
The futures contract of Dow Jones traded 0.08% down at 42,982.00, those of S&P 500 was up 0.03% at 5,864.50 and Nasdaq 100 also rose 0.1% to 20,362.50 as of 3:29 p.m.
Economic Data Releases And Events For Oct 16
US: Import prices — 6:00 p.m. IST
Australia: CB Leading Index — 8:00 p.m. IST
Nifty, Sensex Record Two–Day Losing Streak On Global Sell–Off; Infosys, M&M Drag: Market Wrap
The NSE Nifty 50 and BSE Sensex recorded two–day losing streak on Wednesday tracking sell–off across the globe. Most share indices in Asia–Pacific and Europe plunged on cues from overnight moves on Wall Street.
The NSE Nifty 50 ended 86.05 points or 0.34% down at 24,971.30, and the BSE Sensex settled 318.76 points or 0.39% down at 81,501.36.
Infosys Ltd. and Mahindra & Mahindra Ltd. share prices dragged the benchmark index the most.
During the session, the Nifty 50 declined 0.59% to 24,908.45, and the Sensex declined 0.56% to 81,358.26.
After a tepid opening, Index tested its lower end of consolidation followed by a swift recovery; however, towards the end, recovery gains fizzled out and ended the session at 24,971.30 with a loss of 86.05 points, said Aditya Gaggar, director, Progressive Shares.
Barring Energy and Realty, all the other sectors ended in the red where Auto and IT were the major laggards. Mid and Smallcaps managed to outperform the Frontline Index. The Index continued to oscillate in a well-maintained range of 24,920-25,200 and a directional breakout is a must for a clear trend, Gaggar added.
Infosys Ltd., Mahindra & Mahindra Ltd., Trent Ltd., ICICI Bank Ltd., and Nestle India Ltd. weighed on the index.
HDFC Bank Ltd., Reliance Industries Ltd., Bharti Airtel Ltd., HDFC Life Insurance Co. Ltd., and Bajaj Auto Ltd. limited losses to the index.
Top contributors to the NSE Nifty 50 index.
On NSE, seven sectors declined, three advanced, one remained flat. The NSE Nifty Auto index was the top loser. The NSE Nifty Realty rose the most.
Most sectoral indices on NSE ended lower on Wednesday.
Broader indices outperformed. BSE Midcap closed 0.1% down and BSE Smallcap was up by 0.3%.
Five of 20 sectoral indices on the BSE ended higher and 15 declined. BSE Telecom rose the most.
Market breadth was skewed in the favour of buyers. As many as 2,032 stocks rose, 1,926 declined, and 110 remained unchanged on the BSE.
Rupee Strengthens Against US Dollar
The rupee strengthened by 4 paise to close at 84.00 against the US dollar. It closed at 84.04 on Tuesday, according to data on Bloomberg.
Market At Close
The NSE Nifty 50 and BSE Sensex extended their losses to second day.
During the session, the Nifty 50 declined 0.59% to 24,908.45, and the Sensex declined 0.56% to 81,358.26.
Infosys Ltd. and Mahindra & Mahindra Ltd. were top draggers in the Nifty 50 index.
HDFC Bank Ltd. and Reliance Industries Ltd. shares were top gainers in the Nifty 50 index.
On Nifty bank expiry day, the NSE Nifty Bank declined as much as 0.38% at 51,711.20. The index settled 0.21% down at 51,796.40 on Wednesday.
The NSE Nifty Realty was the top sectoral performer while the NSE Nifty Auto was the worst sectoral performer.
The NSE Nifty Midcap 150 ended 0.29% lower at 22,064.40.
The NSE Nifty Smallcap 250 ended 0.18% higher at 18,501.05.
