Bears took the charge of Dalal Street on September 30 and dragged the BSE Sensex more than 1,300 points and Nifty below 25,800, intraday, amid rising geopolitical tensions and ahead of Federal Reserve Chair Jerome Powell's speech later tonight.
At close, the Sensex was down 1,272.07 points or 1.49 percent at 84,299.78, and the Nifty was down 368.20 points or 1.41 percent at 25,810.80.
On the back of weak global cues, the market opened lower and extended the losses as the day progressed to end near a day’s low amid selling across sectors barring metal and media stocks.
Also Read - FPIs put in nearly $7 bn in Indian equities in September; highest since December 2023
Hero MotoCorp, Trent, Axis Bank, Reliance Industries, Bharat Electronics were among the top losers on the Nifty, while gainers were JSW Steel, Hindalco Industries, NTPC, Tata Steel, and Britannia Industries.
Except metal and media (up 1 percent each), all other sectoral indices ended in the red with auto, bank, IT, telecom, pharma, and realty down 1-2 percent.
The BSE midcap index ended with marginal losses, while the smallcap index ended flat.
300 stocks touched their 52-high on the BSE, including, Apollo Hospitals, AstraZeneca Pharma, Bombay Burmah, BPCL, Britannia Industries, Colgate Palmolive, Hindalco Industries, Hitachi Energy, Jindal Saw, JM Financial, JSW Steel, KEC International, NALCO, NTPC, Pidilite Industries, Praj Industries, Sun Pharma, Vedanta, V-Mart Retail, Welspun Corp, Whirlpool, among others. Click to view full list
| Index | Prices | Change | Change% |
|---|---|---|---|
| Sensex | 85,186.47 | 513.45 | +0.61% |
| Nifty 50 | 26,052.65 | 0.00 | +0.00% |
| Nifty Bank | 59,216.05 | 0.00 | +0.00% |
| Biggest Gainer | Prices | Change | Change% |
|---|---|---|---|
| Max Healthcare | 1,164.40 | 47.70 | +4.27% |
| Biggest Loser | Prices | Change | Change% |
|---|---|---|---|
| TMPV | 360.85 | -10.45 | -2.81% |
| Best Sector | Prices | Change | Change% |
|---|---|---|---|
| Nifty IT | 37044.70 | 1069.50 | +2.97% |
| Worst Sector | Prices | Change | Change% |
|---|---|---|---|
| Nifty Energy | 36132.30 | -91.50 | -0.25% |
Outlook for October 1
Aditya Gaggar Director of Progressive Shares
The much-needed correction was witnessed in today's trade. After a gap-down opening, the Index first broke the psychological support of 26,000 and later kept on violating its small support points as well to end the session at 25,810.85 with a loss of 368.10 points.
Among the sectors, Metal and Media managed to end the day in green; while on the flip side, Auto and Realty shed over 1.60%. Mid and Smallcaps also corrected but comparatively outperformed the Benchmark Index.
A strong bearish candle is formed on the daily chart which depicts the strength of bears. Considering the higher top higher bottom formation, the next support for the Index comes at 25,500 coupled with 21DMA support and due to the change in polarity, once again 26,000 will be considered as an immediate hurdle.
Rupak De, Senior Technical Analyst, LKP Securities
The Nifty slipped sharply following a brief pause in the previous trading session, breaking below its recent consolidation. This decline was accompanied by a significant negative divergence in the RSI (14), indicating potential further weakness.
Sentiment may remain weak in the near term, with support placed at 25,750. A break below 25,750 could lead to further correction. On the higher side, resistance is seen at 26,000.
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