September 4, 2024
New Delhi, India
On September 4, Indian equity indices closed lower with the Nifty ending below the 25,200 mark and the Sensex down by 203 points amid negative global cues. The BSE Sensex fell 202.80 points or 0.25% to close at 82,352.64, while the NSE Nifty dropped 81.10 points or 0.32% to settle at 25,198.70.
Market Performance:
- Market Breadth:
- About 1,852 shares advanced, 1,935 shares declined, and 90 shares remained unchanged, indicating a broadly negative market sentiment.
- Top Gainers and Losers:
- Gainers: Asian Paints, Grasim Industries, Hindustan Unilever (HUL), Apollo Hospitals, and Sun Pharma were among the top gainers on the Nifty, reflecting positive traction in the FMCG, realty, and pharma sectors.
- Losers: Wipro, Coal India, ONGC, Hindalco Industries, and M&M led the losses, dragging the indices lower.
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Sectoral Highlights:
- Gainers:
- The FMCG, realty, and pharma sectors posted gains of around 0.5% each, driven by strong performances from stocks like Hindustan Unilever, Grasim Industries, and Sun Pharma.
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- Losers:
- The auto, banking, energy, IT, and metal sectors saw declines ranging from 0.4% to 1%, led by losses in stocks such as Wipro, Coal India, and ONGC.
- Indices Performance:
- The BSE Midcap index ended marginally lower, while the Smallcap index managed to close in the green, showing resilience in mid and small-cap stocks despite broader market weakness.
Key Market Trends:
- Market Sentiment:
- The broader market sentiment was weighed down by negative global cues, resulting in a decline of 31 out of the 50 Nifty50 constituent stocks. This drop ended the Nifty’s 14-day winning streak.
- Bank Nifty:
- The Bank Nifty closed 0.59% lower, down 305.40 points to 51,689, indicating significant weakness in the banking sector.
The Indian stock market ended Wednesday’s session on a subdued note, with significant declines in banking and IT stocks outweighing gains in the pharma, FMCG, and realty sectors. Investors will keep a close eye on global market trends and domestic economic data for further cues.
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