Stock Market Today: Sensex Down 316 Points, Nifty Below 19,550
Stock Market Today, 3 Oct 2023: Indian stock markets ended the volatile session with significant losses on Tuesday. The domestic markets opened slightly lower and then fell sharply after a few minutes of trading. The market sentiments were dented due to weak global cues.
Domestic equity indices continued to trade in red throughout the session on account of selling by funds and retail investors. Selling in Auto and Energy stocks pressured the markets to trade in red.
Weakness in other Asian markets weighed on the domestic sentiments. The market sentiments got further hit as India’s September manufacturing PMI data came lowest in five months at 57.5 Vs 58.6 in August.
Traders were cautious as the dollar and U.S. Treasury yields surged in the wake of hawkish signals from Fed officials. Meanwhile, the World Bank has retained its GDP growth forecast for India at 6.3 percent for 2023-24 even amid persistent and intensifying global headwinds.
Stock Market Indexes Today
The Nifty 50 index closed lower by 109.55 points or 0.56 percent and closed at 19528.75 levels while the Sensex was down by 316.30 points or 0.48 percent and finished at 65512.10 levels. The Bank Nifty index ended lower by 185.50 points or 0.42 percent on the spot level and closed at 44399.05 levels.
The broader markets outperformed their larger peers today, as the Nifty midcap index was up by 71.80 points or 0.18 percent and closed at 40608.85 levels. The Nifty smallcap index ended higher by 67.70 points or 0.53 percent at 12816.20 levels.
Nifty 50 Top Gainers & Losers
The top gainers in the Nifty 50 index were Bajaj Finance, L&T, Titan, Bajaj Finserve, and Adani Ports, and the top losers were ONGC, Eicher Motors, Hindalco, Maruti, and Dr. Reddy.
The top gainers in the Nifty midcap index were Union Bank, Max Health, and Indian Bank and the top losers were Guj Fluorochem, Adani Power, and SAIL.
The smallcap top gainers were MGL, PNB Housing, and Suzlon while the top losers were MCX, Jamna Auto, and IRB
The most active stocks in the Nifty index in terms of value were HDFC Bank, Axis Bank, and ICICI Bank. The most active stocks in terms of volume were ONGC, HDFC Bank, and Tata Steel.
On the sectoral front, PSU Bank, Media, and Realtyclosed higher while the sector that closed in the red were Energy, Auto and Pharma.
Global Stock Market Today
The other Asian stock market indexes closed lower on Tuesday. The sentiment was downbeat, as focus now shifted to the Fed’s rate hikes which pushed the 10-year US Treasury yields to near a 16-year high. The Reserve Bank of Australia (RBA) held the key interest rates as widely expected.
Japan’s Nikkei and Australia’s S&P ASX 200 ended sharply lower by 1.83 percent and 1.28 percent respectively. Hang Seng fell the most in the region, the index was down 3 percent. South Korean and Shanghai indexes were not traded today due to the public holiday. Elsewhere, Straits Time, SET Composite, and Taiwan also fell sharply on Tuesday.
European stock markets opened lower following the negative cues from Asian market peers. The sentiments slightly improved as the latest data from the UK showed that shop price inflation fell to its lowest level in a year in September, with food prices falling for the first time in over two years.
The key European indices are trading mixed at 3.45 pm IST. The US future indexes, Dow and Nasdaq futures turned positive and are trading marginally higher.
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You may also like to read, US Markets, Oct 2: Dow Dips and Nasdaq Surges Amidst Rising Treasury Yields
Stock Market Prediction Next Week (2- 6 Oct 2023)
Happy Investing!!
Editorial desk
