October 16, 2024
New Delhi, India
Stock Market Today
The Indian stock market closed on a lower note for the second consecutive day on October 16, with the BSE Sensex shedding 319 points (0.39%) to settle at 81,501.36. The NSE Nifty 50 fell by 86 points (0.34%) to close at 24,971.30. Investors grappled with mixed signals as falling crude oil prices were offset by weak corporate earnings and foreign investment outflows.
Key Highlights:
- Top Losers: Trent, Mahindra & Mahindra, Infosys, Hero MotoCorp, and Adani Ports, with losses up to 4%.
- Top Gainers: HDFC Life, Dr. Reddy’s Labs, Grasim Industries, Bharti Airtel, and HDFC Bank, with gains up to 1.79%.
- Sectoral Performance:
- Realty: Outperformed with moderate gains.
- Auto & IT: Top sectoral laggards, both down over 1%.
- Broader Market: The Nifty Midcap 100 fell by 0.24%, while the Small Cap Index rose marginally by 0.01%.
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Despite global cues weighing down the market, the realty and telecom sectors managed to post gains, while auto and IT stocks continued to underperform. The session saw 34 out of 50 Nifty stocks closing in the red, reflecting investor caution amid economic uncertainty.
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