Stock Market Today: Indian benchmark equity indices were lower in rangebound trading on Wednesday, tracking weakness in global markets
Share Market Today: Foreign institutional investors (FIIs) net sold shares worth Rs 1,748.71 crore on Tuesday, October 15, while domestic institutional investors (DIIs) net bought shares worth Rs 1,654.96 crore. (Photo: Bloomberg)
Stock Market LIVE Updates, Wednesday, October 16, 2024: Benchmark Indian equity indices were swinging between negative and positive territory in rangebound trading on the bourses, after opening lower on Wednesday.
At 11 AM, the BSE Sensex was at 81,747, down 72 points, or 0.09 per cent, while the Nifty 50 was at 25,035, down 21 points, or 0.09 per cent.
On the BSE Sensex, 11 out of the 30 stocks were trading in the green. Gains were led by Power Grid Corp (up 0.53 per cent), followed by Bajaj Finserv, Asian Paint, Bajaj Finance, and JSW Steel, while Mahindra & Mahindra (down 1.08 per cent), followed by TCS, Infosys, IndusInd Bank, and ITC, were the top drags on the index.
On the Nifty 50, 18 out of the 30 stocks were trading in the green. Gains were led by HDFC Life (up 0.87 per cent), followed by Dr Reddy’s, Asian Paint, BPCL, and Power Grid Corp, while on the flip side, TCS (down 0.73 per cent), followed by Infosys, Kotak Mahindra Bank, Titan, and Cipla were the top losers.
Across sectors, the Auto index (down 0.68 per cent), followed by the FMCG and IT indices were the top laggards. Bank Nifty was marginall higher (up 0.03 per cent), while Financial Services was up 0.28 per cent.
Consumer Durables, Pharma, Healthcare, and Media indices were trading in the red, while the Oil & Gas index was up 0.57 per cent.
In the broader markets, the Nifty Midcap100 was flat and the Nifty Smallcap 100 was marginally higher by 0.03 per cent.
Benchmark equity indices BSE Sensex and Nifty 50 had pared their early gains to settle in the red on Tuesday.
The BSE Sensex closed 152.93 points lower, or 0.19 per cent down, at 81,820.12, while the Nifty 50 ended at 25,057.35, down 70.60 points, or 0.28 per cent.
In the broader markets, smallcap stocks outperformed the benchmarks, with the Nifty Smallcap 100 index ending higher by 1.11 per cent and the Nifty Midcap 100 closed 0.21 per cent ahead.
Nifty Realty index outperformed all the other sectoral indices, ending higher by 2.05 per cent. Meanwhile, FMCG, Consumer Durables, Nifty Bank, Media, and select healthcare stocks also ended in the green.
On the other hand, Financial Services, IT, Metal, PSU Bank, Auto, and OMC closed in red on Tuesday.
That apart, Japan’s Nikkei was leading the losses in lower Asia-Pacific markets, after Wall Street closed in negative territory on Tuesday.
Japan’s Nikkei 225 was down 1.8 per cent, and the broad-based Topix was lower by 1.13 per cent.
Hong Kong’s Hang Seng index was marginally ahead by 0.08 per cent, while mainland China’s Shanghai Composite and CSI 300 were down by 0.14 per cent and 0.86 per cent, respectively.
Australia’s S&P/ASX 200 was trading lowed by 0.2 per cent, and South Korea’s Kospi was down 0.89 per cent.
Investors will keep an eye out for more stimulus measures as the country’s housing minister is scheduled to hold a press briefing on Thursday morning, as per a statement from the State Council Information Office on Tuesday.
Wall Street closed down on Tuesday, following global stocks lower as a weak sales forecast from European chip fabrication equipment maker ASML weighed on tech shares, while crude extended its slide due to easing supply worries and weakening demand.
The three major US indexes ended the session in negative territory, with the S&P 500 and the Dow easing back from Monday’s record closing highs.
Financial firms Goldman Sachs, Citigroup and Bank of America all posted better-than-expected profit, while healthcare companies UnitedHealth and Johnson & Johnson results underwhelmed investors.
But Netherlands-based chip equipment maker ASML posted third quarter results that surprised markets with weak bookings and lower-than-expected sales forecasts, dour news that proved contagious to the US chip sector.
The Dow Jones Industrial Average fell 324.60 points, or 0.75 per cent, to 42,740.62, the S&P 500 fell 44.54 points, or 0.76 per cent, to 5,815.31 and the Nasdaq Composite fell 187.10 points, or 1.01 per cent, to 18,315.59.
European stocks posted their largest one-day percentage drop in over two weeks, weighed by tech stocks.
Meanwhile, investors remained focused on the European Central Bank’s rate decision on Thursday.
MSCI’s gauge of stocks across the globe fell 6.20 points, or 0.72 per cent, to 850.98. The STOXX 600 index fell 0.8 per cent, while Europe’s broad FTSEurofirst 300 index fell 19.22 points, or 0.92 per cent.
Emerging market stocks fell 11.40 points, or 0.98 per cent, to 1,148.66.
Oil prices slid to a near two-week low, extending Monday’s losses amid easing supply pressures arising from the conflict in the Middle East, amid reports Israel’s Prime Minister Benjamin Netanyahu told US President Joe Biden’s administration that Israel would avoid striking Iranian oil targets.
Additionally, OPEC and the International Energy Agency both lowered their global demand forecasts, mostly due to weakness in China.
US crude tumbled 4.40 per cent to $70.58 per barrel, while Brent fell to $74.25 per barrel, down 4.14 per cent on the day.
Benchmark US Treasury yields edged lower, pausing after touching a 2-1/2 month high in the wake of soft manufacturing data
from the New York Federal Reserve.
The yield on benchmark US 10-year notes fell 3.7 basis points to 4.036 per cent, from 4.073 per cent late on Friday.
The 2-year note yield, which typically moves in step with interest rate expectations, rose 1.1 basis points to 3.952 per cent, from 3.941 per cent late on Friday.
The dollar was nominally lower against a basket of world currencies amid wagers that the Federal Reserve will proceed with modest rate cuts in the near term.
The dollar index, which measures the greenback against a basket of currencies, rose 0.06 per cent to 103.24.
Gold gained traction, lifted by lower Treasury yields. Spot gold rose 0.4 per cent to $2,661.80 an ounce.
(With inputs from Reuters.)
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Wockhardt’s Aspart insulin injection (ASPARAPIDTM) is an indigenously developed product.
The company, in an exchange filing, said, “ASPARAPIDTM will be available in cartridges, vials, and prefilled disposable pens, offering flexibility to the patients for management of diabetes.”
The market size of Aspart in India is currently estimated over Rs 260 crore, with only two players offering similar products, and the market is expected to grow significantly in the coming years.
11:21 AM
Stock Market LIVE Updates: IFB Industries zooms 20%, hits record high on stable demand outlook
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Stock Market LIVE Updates: Zomato vs Swiggy: Macquarie compares food delivery, quick commerce biz
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Global brokerage Macquarie is the latest to join the league. For easier comparison between Zomato and Swiggy, analysts at Macquarie have divided and analysed the two companies”http://www.business-standard.com/”food delivery’ and ‘quick commerce’ verticals. READ MORE
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Stock Market LIVE Updates: Adani, Jindal Power among bidders for Sinnar Thermal Power takeover
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11:03 AM
Stock Market LIVE Updates: 11 AM market update – Sensex, Nifty red in muted trade
Stock Market LIVE Updates: Benchmark Indian equity indices were trading lower on Wednesday’s trading session, marked by rangebound movement among benchmark indices.
At 11 AM, the BSE Sensex was at 81,747, down 72 points, or 0.09 per cent, while the Nifty 50 was at 25,035, down 21 points, or 0.09 per cent.
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10:34 AM
Stock Market LIVE Updates: BEML gets Rs 867 cr contract, to make India’s first indigenous bullet train
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10:21 AM
Stock Market LIVE Updates: L&T bags order to build Phase 1, Line 2, for Agra Metro in ‘Significant’ order win
Stock Market LIVE Updates: Larsen & Toubro today announced that its Heavy Civil Infrastructure vertical has secured an order from Uttar Pradesh Metro Rail Corporation Ltd (UPMRCL) for the design and construction of Agra Metro Phase 1, Line-2.
L&T classifies a ‘Significant’ order as falling between Rs 1,000 crore to Rs 2,500 crore.
The stretch will run from Agra Cantonment to Kalindi Vihar, the company said in an exchange filing.
The scope of works involves design and construction of a vital 15.09 km elevated viaduct, 14 stations and 2.61 km depot connecting the metro line from Sadar Bazar to PAC Depot. Architectural finishes for the stations, as well as electrical and mechanical works are also in scope, it added.
The project is to be completed within a stringent timeline of 30 months.
10:16 AM
Stock Market LIVE Updates: Rallis India flies 15% as Q2 Ebitda zooms 93% YoY; analysts weigh in
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10:02 AM
Stock Market LIVE Updates: 10 AM market update – Sensex, Nifty trade muted but green
Stock Market LIVE Updates: Benchmark Indian equity indices were trading on a muted note in positive territory after opening lower on Wednesday.
At 10 AM, the BSE Sensex was at 81,831, up 11 points, or 0.01 per cent, while the Nifty 50 was at 25,074, up 17 points, or 0.07 per cent.
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Stock Market LIVE Updates: BoM gains after reporting 44% YoY jump in Q2FY25 net profit at Rs 1,327 crore
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Stock Market LIVE Updates: HDFC Life up 1.5% after reporting 14.85% increase in Q2FY25 net profit at Rs 433 cr
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First Published: Oct 16 2024 | 7:57 AM IST
