October 25, 2024
New Delhi, India
Markets Today
The Indian stock markets closed in the red today, with both the Sensex and Nifty declining significantly. The Nifty fell by 218.6 points to settle at 24,180.80, while the Sensex dropped 662.87 points, closing at 79,402.29.
Key Highlights:
- Top Losers: IndusInd Bank (-19%), Adani Enterprises (-5%), M&M (-3%), Shriram Finance, and NTPC.
- Top Gainers: ITC, Sun Pharma, Britannia Industries, HUL, and Axis Bank.
- Sectoral Performance: FMCG gained 0.5%, outperforming as all other sectors closed in the red, with auto, capital goods, metal, oil & gas, power, telecom, and media sectors down by 1-2%.
- Broader Indices: BSE Midcap index fell by 1.5%, and the Smallcap index declined by 2.4%.
USDINR Steady Amid Foreign Outflows and RBI Interventions
Contributing Factors:
- Weak Q2 Earnings: Disappointing results from several companies affected investor sentiment.
- Foreign Institutional Investor (FII) Outflows: Continued FII selling amid global concerns.
- High Bond Yields and Strong Dollar: Rising bond yields and a robust USD weighed on stocks.
- Global Influences: US election uncertainty and diminishing hopes for aggressive Fed rate cuts added to the bearish momentum.
India VIX, an indicator of market volatility, rose by 7%, reflecting increased investor caution amid ongoing market pressures.
Latest Q2 Results
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