November 28, 2024
New Delhi, India
Stock Market Live
Equity markets today witnessed a sharp sell-off on Thursday, driven by global market concerns, geopolitical tensions, and monthly Futures & Options (F&O) expiry-related pressure.
- Sensex: Dropped 1,190 points (-1.48%) to close at 79,043.74, trading between 80,447.40 and 78,918.92.
- Nifty 50: Fell 360.75 points (-1.49%) to end at 23,914.15, trading in the range of 24,345.75 to 23,873.35.
Factors Driving the Decline
- Geopolitical Tensions:
- Russia’s missile and drone attacks on Ukraine’s energy infrastructure heightened global uncertainty.
- Fears of a worsening energy crisis before winter added to the market’s woes.
Also Read; LIC Shares Jump 4% on Health Insurance Acquisition Reports
- F&O Expiry Impact:
- Derivative expiry pressures weighed heavily on sentiment, leading to heightened volatility.
- Sectoral Performance:
- IT and Auto indices were the worst-hit, with Nifty IT falling over 2%.
- Financials, Consumer Durables, and Healthcare indices also witnessed significant declines.
- PSU Bank and Media indices bucked the trend, gaining up to 0.93%.
Top Movers
- Losers: SBI Life (-5.41%), Infosys, HDFC Life, Mahindra & Mahindra, Adani Ports.
- Gainers: Adani Enterprises (+1.63%), Shriram Finance, State Bank of India, Cipla.
Broader Markets
- Nifty Midcap100 and Smallcap100 indices showed resilience, closing with marginal gains of 0.05%.
- Nifty Bank fell 395 points to end at 51,907.
Outlook
The market’s near-term direction hinges on global geopolitical developments, domestic policy measures, and sectoral performance. Investors should remain cautious amid high volatility and global uncertainties.
Disclaimer:
CurrencyVeda provides this news article for informational purposes only. We do not offer investment advice or recommendations. Before making any investment decisions, please conduct thorough research, consult with financial experts, and carefully consider your financial situation, risk tolerance, and investment goals. Investing in the stock market carries risks, and it’s essential to make informed choices based on your individual circumstances. CurrencyVeda is not liable for any actions taken based on the information provided in this article.
