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Taking Stock: Nifty closes below 25,000, Sensex falls 850 pts from day's high as RBI keeps repo rate unchanged

Top Nifty losers were ITC, Nestle, Reliance Industries, ONGC, HUL, while gainers included Trent, Cipla, Tata Motors, SBI and Maruti Suzuki.

October 09, 2024 / 15:56 IST
Market Today

Amid final hour selling, Indian benchmark indices failed to hold intraday gains and ended marginally lower in a volatile session on October 9.

The Reserve Bank of India (RBI) has made no change in its key policy rates amid geopolitical and inflation concern, while shifted its stance to 'neutral' from 'withdrawal of accommodation'.

The Monetary Policy Committee has kept the repo rate unchanged at 6.5 percent for the 10th time, and also maintained MSF & SDF rates unchanged at 6.75 percent & 6.25 percent, respectively.

At close, the Sensex was down 167.71 points or 0.21 percent at 81,467.10, and the Nifty was down 31.20 points or 0.12 percent at 24,982.

BSE Sensex and Nifty 50 indices erased 852 points and 252 points from their day's high.

Also Read - Real GDP growth for FY25 retained at 7.2%

Top Nifty losers were ITC, Nestle, Reliance Industries, ONGC, HUL, while gainers included Trent, Cipla, Tata Motors, SBI and Maruti Suzuki.

BSE Midcap and Smallcap indices up more than 1 percent each.

IndexPricesChangeChange%
Sensex85,899.70179.32 +0.21%
Nifty 5026,260.8045.25 +0.17%
Nifty Bank59,755.7018.40 +0.03%
Nifty 50 26,260.80 45.25 (0.17%)
Fri, Nov 28, 2025
Biggest GainerPricesChangeChange%
M&M3,753.2072.00 +1.96%
Biggest LoserPricesChangeChange%
HDFC Life771.60-6.20 -0.80%
Best SectorPricesChangeChange%
Nifty Auto27757.30153.60 +0.56%
Worst SectorPricesChangeChange%
Nifty Energy35657.00-99.20 -0.28%

Among sectors, except FMCG (down 1.3 percent) and oil & gas (down 0.6 percent), all other indices ended in the green with pharma, power, realty up 1-2 percent.

More than 180 stocks touched their 52-high on the BSE, including, Akzo Nobel, Bosch, Cipla, Coforge, Divis Labs, Dixon Technologies, Glenmark Pharma, Hitachi Energy, Infosys, Ipca Labs, Lloyds Metals, MCX India, Page Industries, Polycab India, Symphony, Torrent Pharma, Torrent Power, Trent among others. Click To View More

Also Read | Experts pick top 10 rate-sensitive stocks as RBI keeps repo rate unchanged, shifts stance to 'neutral'

Outlook for October 10

Aditya Gaggar Director of Progressive Shares

The resistance level i.e. 25,200 acted very well in today's trade. After a firm opening, the Index was seen compounding its gains for the major part of the day but in the last session, a steep fall in the select heavyweights dragged the Index lower and erased all its gains to settle the day at 24,981.95 with a loss of 31.20 points. On the sectoral front, Pharma and Realty were the star performers while FMCG (1.57%) corrected the most followed by Energy.

Mid and Smallcap segments held their gains and outshined the Frontline Index. Support and resistance are very well-placed i.e. 24,750 & 25,200, and breakout on either sides will provide a clear picture.

Rupak De, Senior Technical Analyst, LKP Securities

The Nifty opened higher but struggled to maintain gains, leading to a weaker close. On the hourly chart, the index closed just above the 20DMA, indicating that the very short-term trend remains positive and is likely to stay so as long as it holds above 24,940. However, a drop below 24,940 could trigger a correction down to 24,800/24,700. On the upside, 25,100 may act as resistance.

Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Rakesh Patil
first published: Oct 9, 2024 03:47 pm

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