October 4, 2024
New Delhi, India
Stock Market Today
The Indian stock markets extended their losing streak for the fifth consecutive session on Friday, with both the Sensex and Nifty50 closing sharply lower due to weak global cues and sectoral declines. The Sensex dropped 809 points to close at 81,688, while the Nifty50 fell 235 pts to close at 25,014, hitting a three-week low.
Top Losers and Gainers
Among the worst performers on the NSE were:
- M&M
- Bajaj Finance
- Nestle India
- Hero MotoCorp
- Asian Paints
On the other hand, gainers included:
- Infosys
- ONGC
- TCS
- Tech Mahindra
- HDFC Life
Sectoral Performance
Most sectors ended the day in the red. Notably:
- Auto, FMCG, Realty, Power, Media, Telecom, and Oil & Gas indices declined by 1-2%.
- Only PSU Bank and IT sectors managed to remain positive.
The BSE Midcap and Smallcap indices also lost around 0.5% each.
Also Read: Sahasra Electronics Shares Debut with 90% Premium at ₹537 on NSE SME
Market Overview
The session saw benchmark indices wiping out the day’s early gains due to a sell-off in heavyweight stocks such as Reliance Industries and key financial stocks. Weak global signals and a poor showing by the Realty and FMCG sectors contributed to the losses.
- The Nifty50 breached the 25,000 mark during afternoon trade and ended at a three-week low.
- M&M Financial saw a 6% drop following its Q2 update.
Also Read: Reliance Power Approves $500 Million Fundraising via FCCBs, Launches Employee Stock Option Scheme
Stock Market Performance
- The NSE Nifty50 opened marginally lower at 25,246, while the BSE Sensex started the day 29 points lower at 82,468.
- Broader indices traded in the red throughout the day, with the Bank Nifty showing a flat opening at 51,851, up just 6 points.
Stay tuned for further updates as the markets remain volatile amid ongoing global uncertainties and sector-specific declines.
Also Read: USDINR Today: Rupee Recovers Despite Weak Services PMI
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