Breaking: Sensex Plummets 350 Points as IT & Auto Stocks Tumble – Nifty Struggles at 24,950! Stay Informed with LIVE Market Updates
On Wednesday, October 16, 2024, the Indian benchmark indices displayed volatility, registering both gains and losses. By 11 AM, the BSE Sensex declined by 72 points, or 0.09%, to 81,747, while Nifty 50 dropped 21 points, or 0.09%, to 25,035. In the BSE Sensex, 11 of 30 stocks experienced upward movement, led by Power Grid Corp’s 0.53% rise. Meanwhile, Mahindra & Mahindra and TCS led the decliners. On the Nifty 50, 18 stocks traded in positive territory, driven by HDFC Life’s 0.87% increase. Conversely, TCS and Infosys were the top laggards.
Sectoral performance was mixed. The Auto index led declines with a 0.68% drop, while the Oil & Gas index rose by 0.57%. Broader markets saw minimal changes with the Nifty Smallcap 100 edging up by 0.03%.
On Tuesday, the BSE Sensex and Nifty 50 closed in the red after erasing early gains, with Sensex down by 0.19% and Nifty 50 dropping 0.28%. Notably, the Nifty Realty index gained 2.05%, outperforming other sectoral indices.
Globally, Asian markets displayed mixed movements. Japan’s Nikkei 225 fell 1.8%, while Hong Kong’s Hang Seng edged up marginally. Wall Street finished lower on Tuesday, impacted by ASML’s weak sales forecast. The Dow, S&P 500, and Nasdaq closed down by 0.75%, 0.76%, and 1.01%, respectively.
Oil prices extended declines due to easing supply concerns and decreased global demand forecasts from OPEC and the International Energy Agency. US crude fell 4.40% to $70.58 per barrel. Additionally, US Treasury yields retreated after recent highs, with the 10-year yield falling to 4.036%.
While the dollar slightly weakened, gold gained 0.4% to $2,661.80 an ounce, buoyed by lower Treasury yields, hinting at potential modest rate cuts by the Federal Reserve.
(With inputs from Reuters.)
Original Story https://www.business-standard.com/markets/news/stock-market-live-updates-today-sensex-nifty-nse-bse-cochin-shipyard-vi-hyundai-ipo-124101600070_1.html
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