Stock Market Today: Nifty Closes Near 19500, Sensex Down 483 Points
Stock Market Today, 9 Oct 2023: Indian stock markets ended lower on Monday, snapping a two-day winning streak. The domestic equity markets opened a gap-down amid geopolitical tensions, following the sudden escalation of war between Israel and Palestine-based militant group Hamas over the weekend.
Indian stock markets tried to cut some of their losses in the morning deal but traded below their neutral lines throughout the day. A sharp rise in crude oil prices in morning deals also dampened the sentiments in domestic markets. Both the benchmarks Brent and WTI crude prices were sharply traded higher on concerns about oil supply disruptions.
However, the downside was limited as some support came in as CII`s business confidence index improved to 67.1 in the July-September quarter of FY24, indicating solid macro fundamentals of India`s economy despite global headwinds.
Stock Market Indexes Today
The Nifty 50 index closed lower by 141.15 points or 0.72 percent and closed at 19512.35 levels while the Sensex was down by 483.25 points or 0.73 percent and finished at 65512.39 levels. The Bank Nifty index ended lower by 474.10 points or 1.07 percent on the spot level and closed at 43886.50 levels.
The broader markets underperformed their larger peers today, as the Nifty midcap index was down by 640.05 points or 1.34 percent and closed at 39744.65 levels. The Nifty smallcap index ended lower by 228.10 points or 1.78 percent at 12609 levels.
Nifty 50 Top Gainers & Losers
The top gainers in the Nifty 50 index were Dr Reddy, HCL Tech, Tata Consumer, HUL, and TCS, and the top losers were Adani Ports, Hero Motors, HDFC Life, M&M, and BPCL
The top gainers in the Nifty midcap index were Oil India, L&T Technology, and Max Health and the top losers were Adani Power, Union Bank, and Indian Bank.
The smallcap top gainers were Angel One, Aavas Financer, and Metropolis while the top losers were UCO Bank, IOB, and Central Bank
The most active stocks in the Nifty index in terms of value were TCS, HDFC Bank, and Reliance. The most active stocks in terms of volume were Tata Steel, ONGC, and NTPC.
On the sectoral front, all sectoral indices closed in the red, with Nifty PSU Bank, Media, and Metal dragged down the most.
Global Stock Market Updates Today
The other Asian stock markets closed mixed on Monday, as China resumed trading after a weeklong holiday and ended in the red. The geopolitical turmoil in the Middle East also hit market sentiments in the region. Investors are now looking for more economic data from China and Singapore’s central bank’s interest rate decision later this week.
European stock market indexes are trading mixed. The US Future indexes, Dow, and Nasdaq futures are trading lower on Monday, as Palestinian militants attacked Israel on Saturday, which spiked the crude oil prices. You can read detailed global stock market updates here.
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