Stock Market LIVE Updates: GIFT Nifty indicates a flat start; US, Asian markets gain

Indian equity indices ended on flat note in the volatile session on October 1. At close, the Sensex was down 33.49 points or 0.04 percent at 84,266.29, and the Nifty was down 13.90 points or 0.05 percent at 25,796.90.

We wrap up today’s edition of the Moneycontrol live market blog, and will be back Thursday morning with all the latest updates and alerts. Please visit https://www.moneycontrol.com/markets/global-indices for all the global market action.

Triggered by the recent stimulus policies by the Chinese central bank, funds are shifting to cheaper Chinese stocks from expensive markets like India. This, along with the possible increase in interest rates by the BoJ due to recent political changes, may impact the domestic market in the near term. The recent data on the output of the key infrastructure segments and manufacturing activities is showing some fragility. Meanwhile, OPEC’s plans to increase production are resulting in the oil prices falling. Domestically, the market awaits the upcoming RBI’s policy meeting and Q2 results to have further insights on market trajectory.

Tech Mahindra, M&M, Britannia Industries, Adani Enterprises and Infosys were among the top gainers on the Nifty, while losers were IndusInd Bank, ONGC, Asian Paints, Bajaj Auto and Titan Company…Read More

Nifty formed a doji pattern with a long upper shadow on the daily chart, indicating market indecision. Heavy call writing at 25800 suggests it may act as strong resistance if sustained. Immediate support lies at 25750, and a decisive break below this could push the index to 25600/25500. On the higher side, a move above 25800 may propel Nifty towards 26050, where sellers could become active again.

Indian equities started the session on a strong note but the higher levels did not last for long and erased all its gains. In the non-directional trend, the Index oscillated in a thin range and finally ended the session at 25,796.90 with a loss of 13.95 points.

On the sectoral front, Media and IT were the top performers while Energy was the major laggard. Mid and Smallcaps advanced by 0.34% & 0.79% and outshined the Frontline Index.

After a big bearish candle, Nifty50 has formed a DOJI candlestick with a probable hidden bullish divergence in the RSI. A convincing move above today’s high i.e. 25,910 will confirm the divergence and in that scenario, the momentum may extend to 26,000; while on the flip side, a break below 25,750 will drag the Index lower to 25,575.

Indian rupee ended marginally lower at 83.82 per dollar on Tuesday versus Monday’s close of 83.80.

Indian equity indices ended on flat note in the volatile session on October 1.

At close, the Sensex was down 33.49 points or 0.04 percent at 84,266.29, and the Nifty was down 13.90 points or 0.05 percent at 25,796.90. About 2210 shares advanced, 1587 shares declined, and 90 shares unchanged.

Tech Mahindra, M&M, Britannia Industries, Adani Enterprises and Infosys were among the top losers on the Nifty, while losers were IndusInd Bank, ONGC, Asian Paints, Bajaj Auto and Titan Company.

Among sectors, buying was seen in the media, auto, IT, while selling was seen in the telecom, power, FMCG, Oil & Gas, realty.

BSE Midcap index was up 0.3 percent, and Smallcap index was up 0.5 percent.

The company registered the highest ever sales volume of 7,58,267 Ton in Q2FY25 compared to 7,21,064 Ton in Q1FY25 and 6,74,761 Ton in Q2FY24. For H1FY25, the company reported sales volume of 14,79,331 Ton, an increase of 11% YoY.

Indian Rupee declined on Monday on weak domestic markets and disappointing macroeconomic data from India. India’s manufacturing PMI fell to 56.5 in September vs forecast of 56.7 and 57.5 in August. Widening fiscal deficit and current account deficit further pressurised the Rupee. A recovery in US Dollar also weighed on the domestic unit. However, weak crude oil prices cushioned the downside.

We expect Rupee to trade with a slight negative bias on weakness in domestic markets amid profit booking and recovery in the US Dollar. FII outflows may also weigh on the Rupee. However, weakness in crude oil prices may support the Rupee at lower levels.

Traders may take cues from ISM manufacturing PMI and JOLTS jobs data from the US. Investors may watch out for non-farm payrolls report from the US this week. USDINR spot price is expected to trade in a range of Rs 83.65 to Rs 84.