October 8, 2024
New Delhi, India
Stock Market Today
The Indian stock market snapped its 5-day losing streak on October 8, 2024, with the BSE Sensex gaining 585 points to close at 81,634.81 and the NSE Nifty rising 217 points to cross the 25,000 mark, ending at 25,013.15.
Top Performers and Sector Highlights
Among the Sensex gainers, Adani Ports, M&M, Reliance Industries, HDFC Bank, and L&T saw gains between 1% and 4.5%. However, on the downside, stocks like Tata Steel, Titan Company, Bajaj Finserv, and JSW Steel slipped by up to 2.7%.
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Sectorally, the market saw broad-based buying except for the Nifty Metal index, which ended in the red. The Nifty Media index led the pack with a jump of 3%, followed by Auto and Pharma sectors, which gained 1.84% and 1.5%, respectively.
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Broader Market Performance
The BSE MidCap index and SmallCap index outperformed the benchmarks, rising by 1.86% and 2.44%, respectively. This highlights the positive momentum across the broader markets.
Market Outlook
Investors are now looking ahead to the Reserve Bank of India’s monetary policy decision on Wednesday, which could set the tone for the market going forward. Additionally, local quarterly earnings reports and geopolitical tensions in the Middle East are expected to keep traders cautious.
The market’s positive performance today indicates a shift in sentiment, but uncertainty remains due to upcoming events like the RBI’s rate decision and global factors affecting market stability.
Disclaimer:
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