September 11, 2024
New Delhi, India
Stock Market Today
On Wednesday, September 11, 2024, Indian equity markets ended in the red, with the BSE Sensex falling 398.13 points or 0.49% to close at 81,523.16 and the NSE Nifty50 dropping 122.65 points or 0.49% to end at 24,918.45. The markets were dragged down by weak global cues and investor caution ahead of crucial U.S. inflation data, which could influence the Federal Reserve’s upcoming rate decision.
Key Market Highlights:
- Sensex and Nifty Performance:
- BSE Sensex: Closed at 81,523.16, down 398.13 points, trading between 81,423.14 and 82,134.95.
- NSE Nifty50: Ended at 24,918.45, down 122.65 points, with a trading range of 24,885.15 to 25,113.70.
Also Read: Tata Motors Shares Falls 5% Following UBS “Sell” Rating, Sees 20% Downside Due to JLR Concerns
- Top Gainers:
- Bajaj Auto: +4.21%, reaching an all-time high.
- Asian Paints: +2.26%.
- Bajaj Finance: +1.88%.
- Top Losers:
- Tata Motors: -5.24%, impacted by reduced electric vehicle prices and a UBS downgrade.
- ONGC: -2.93%.
- BPCL: -1.55%.
Also Read: Kumar Mangalam Birla Acquires 1.86 Crore Vodafone Idea Shares Amid Price Dip
- Market Breadth:
- On the BSE, 1,504 stocks advanced, 2,434 declined, and 299 stocks hit their 52-week highs.
- A total of 316 stocks traded in the upper circuit, while 244 stocks hit the lower circuit.
- Sectoral Performance:
- Banking and Auto Stocks: Were among the biggest drags, with notable declines in key stocks.
- Paint Stocks: Gained due to a fall in global crude oil prices.
- Other Stocks in Focus: Persistent Systems, Jubilant Pharmova, Reliance Industries, Ramco Systems, Wardwizard Healthcare, IndiGo, IREDA, Gensol Engineering, Aurobindo Pharma, CEAT, Suzlon, and SpiceJet.
- Grey Market Activity:
- Namo eWaste Management: Listed at a 90% premium, indicating strong investor interest.
Also Read: Namo eWaste Management Shares Debut with 90% Premium at ₹161.50 on NSE SME
Global Cues and Market Sentiment:
Global market sentiment remained subdued as investors awaited key U.S. inflation data. Rising crude oil prices, up by over 1% on Wednesday, and concerns over potential rate hikes by the Federal Reserve also weighed on investor sentiment.
Outlook:
The market’s focus will now shift to U.S. inflation figures, which could provide clarity on the Federal Reserve’s future rate decisions. Indian markets are expected to remain volatile in the near term, driven by both global and domestic economic cues.
Disclaimer:
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