Stock Market Today: Nifty Closes Below 19,150 and Sensex Drops 522 Points

October 25, 2023 admin

Stock Market Today, 25 Oct 2023: Indian stock market indexes ended sharply lower on Wednesday, declining for the fifth consecutive day. The domestic markets opened slightly higher amid positive global cues but could not sustain above their flat line. Indian markets fell sharply in the late morning session and closed in the deep red.

Traders were cautious, as the Ministry of Finance said that the outlook for the Indian economy is bright, although it does face significant headwinds from fresh geo-political tensions, volatile crude oil prices, and sluggish global demand.

Meanwhile, investors overlooked Union Minister Dr Jitendra Singh’s statement that the governance reforms initiated by the government since 2014 have a far-reaching positive social impact

Stock Market Indexes Today

The Nifty 50 index closed lower by 159.60 points or 0.83 percent and closed at 19122.15 levels while the Sensex was down by 522.82 points or 0.81 percent and finished at 64049.06 levels. The Bank Nifty index ended lower by 319.20 points or 0.74 percent on the spot level and closed at 42832 levels.

The broader markets also closed in the red today, as the Nifty midcap index was down by 253.10 points or 0.65 percent and closed at 38564.28 levels. The Nifty smallcap index ended lower by 30.40 points or 0.24 percent at 12433.50 levels.

Nifty 50 Top Gainers & Losers

The top gainers in the Nifty 50 index were Coal India, Tata Steel, Hindalco, Tata Consumer, and SBI, and the top losers were Infy, Adani Enterprise, Cipla, Apollo Hospital, and NTPC.

The top gainers in the Nifty midcap index were Tata Elxsi, FACT, and IGL and the top losers were Rail Vikas Nigam, Mazgaon Dock, and Bharat Dynamics.

The smallcap top gainers were Welspun, Amber Enterprise, and BSE while the top losers were Data Pattern, Tanla Platforms, and Trevini Turbine.

The most active stocks in the Nifty index in terms of value were HDFC Bank, Reliance, and ICICI Bank. The most active stocks in terms of volume were Tata Steel, NTPC, and Power Grid.

On the sectoral front, PSU Bank and Metals closed higher while the sectors that closed in the red were Media, Financial Services, and IT.

Global Stock Market Updates Today

The other Asian stock markets mostly ended higher on Wednesday following the positive cues from Wall Street and as investors assessed Australia’s third-quarter inflation reading, which came in a tick higher than the economist had expected. Australia S&P ASX 200 index ended flat to negative.

Japan’s Nikkei closed higher by 0.66 percent, while South Korea’s Kospi closed lower by 0.86 percent. Shanghai index gained for the second consecutive day, up by 0.40 percent, as China took steps to support struggling local governments. Hang Seng trimmed early gains and closed higher by 0.55 percent.

Elsewhere, the Straits Times closed marginally lower, while SET Composite, Jakarta Composite, and Taiwan ended in the green.

European stock markets are trading mostly lower despite positive cues from Asia and Wall Street overnight, as Middle East sentiments continue to weigh on investor’s sentiments. Investors also remain cautious ahead of the Europen Central Bank Interest rate decision which is due on Thursday.

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Editorial desk