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Taking Stock: Sensex, Nifty end marginally lower; IT shines, oil and gas drag

Tech Mahindra, M&M, Britannia Industries, Adani Enterprises and Infosys were among the top gainers on the Nifty, while losers were IndusInd Bank, ONGC, Asian Paints, Bajaj Auto and Titan Company

October 01, 2024 / 16:00 IST
Market Today

Indian benchmark indices ended lower for the third consecutive session on October 1 with Nifty below 25,800 amid widening current account deficit and weak manufacturing data.

At close, the Sensex was down 33.49 points or 0.04 percent at 84,266.29, and the Nifty was down 13.95 points or 0.05 percent at 25,796.90.

Market will remain shut on October 2 on account of Mahatma Gandhi Jayanti.

Also Read - Manufacturing activity declines to eight-month low of 56.5 in September

Tech Mahindra, M&M, Britannia Industries, Adani Enterprises and Infosys were among the top gainers on the Nifty, while losers were IndusInd Bank, ONGC, Asian Paints, Bajaj Auto and Titan Company.

Among sectors, buying was seen in media, auto, and IT, while selling was seen in the telecom, power, FMCG, Oil & Gas, and realty sectors.

BSE Midcap index was up 0.3 percent, and Smallcap index was up 0.5 percent.

239 stocks touched their 52-high on the BSE, including, Akzo Nobel, Balrampur Chini, BASF, Bombay Burmah, Britannia Industries, Deepak Fertilisers, EID Parry, Fortis Healthcare, Hindalco Industries, ICICI Prudential, JM Financial, Lloyds Metals, Metropolis, NALCO, Polycab India, Shree Renuka Sugars, Tata Communications, V-Mart Retail, among others. Click to view full list

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IndexPricesChangeChange%
Sensex85,712.37447.05 +0.52%
Nifty 5026,186.45152.70 +0.59%
Nifty Bank59,777.20488.50 +0.82%
Nifty 50 26,186.45 152.70 (0.59%)
Fri, Dec 05, 2025
Biggest GainerPricesChangeChange%
Shriram Finance854.9026.75 +3.23%
Biggest LoserPricesChangeChange%
Interglobe Avi5,370.50-66.00 -1.21%
Best SectorPricesChangeChange%
Nifty PSU Bank8381.75125.05 +1.51%
Worst SectorPricesChangeChange%
Nifty Pharma22947.20-11.80 -0.05%
Outlook for October 3Aditya Gaggar Director of Progressive Shares

Indian equities started the session on a strong note but the higher levels did not last for long and erased all its gains. In the non-directional trend, the Index oscillated in a thin range and finally ended the session at 25,796.90 with a loss of 13.95 points.

On the sectoral front, Media and IT were the top performers while Energy was the major laggard. Mid and Smallcaps advanced by 0.34% & 0.79% and outshined the Frontline Index.

After a big bearish candle, Nifty50 has formed a DOJI candlestick with a probable hidden bullish divergence in the RSI. A convincing move above today's high i.e. 25,910 will confirm the divergence and in that scenario, the momentum may extend to 26,000; while on the flip side, a break below 25,750 will drag the Index lower to 25,575.

Rupak De, Senior Technical Analyst, LKP Securities

Nifty formed a doji pattern with a long upper shadow on the daily chart, indicating market indecision. Heavy call writing at 25800 suggests it may act as strong resistance if sustained. Immediate support lies at 25750, and a decisive break below this could push the index to 25600/25500. On the higher side, a move above 25800 may propel Nifty towards 26050, where sellers could become active again.

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 1, 2024 03:45 pm

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