Stock Market Today: Sensex Slumps Over 1,000 Points At Close, Nifty Declines 1.4%
Nifty and Sensex extended their morning losses and traded over 1% down. Catch all the latest on Indian equities.
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KEY HIGHLIGHTS
US Futures Decline
As 3:26 p.m., the Dow Jones Industrial Average futures and S&P 500 futrues were down 0.31% and 0.25%, respectively. The Nasdaq 100 futures was 0.07% down.
Events, Economic Data Later Tuesday
US: Core Retail Sales
US: Retail Sales
US: Capacity Utilization Rate
US: Industrial Production
US: Business Inventories
US: NAHB Housing Market Index
Sensex Slumps Over 1,000 Points At Close, Nifty Declines 1.4%: Closing Bell
Benchmark equity indices extended its fall for a second consecutive session losing nearly 2% since Friday amid weak sentiment in the global markets ahead of US Federal Reserve's meeting outcome due Wednesday night.
CME Fedwatch tool showed a 95% chance of a quarter-point rate cut in December. Broader indices, however, saw a smaller decline.
Nifty ended 1.35% or 332.25 points down at 24336 and Sensex closed 1.3% or 1,064.12 points lower at 80684.45.Intraday, both Nifty and Sensex had declined 1.4% each.
"With a strong bearish candle, the Index has breached the range of 24,500-24,800 on the downside; however, the zone of 24,270-24,300 is a strong support base," said Aditya Gaggar, director of Progressive Shares. "In the case of a breakdown, the next support is positioned at 24,100 whereas, the higher side is capped to 24,600."
Share prices of HDFC Bank Ltd., Reliance Industries Ltd., Bharti Airtel Ltd., Tata Consultancy Services Ltd., and Larsen & Toubro Ltd. dragged the Nifty. While those of ITC and Cipla capped the fall.
Except Nifty Media, which closed flat, all sectoral indices fell.
Market breadth was skewed in favour of sellers. Around 2,472 stocks declined, 1,544 stocks advanced, and 91 stocks remained unchanged on BSE.
Broader markets outperformed benchmark indices. The BSE Midcap and Smallcap indices ended 0.65% and 0.52% down, respectively.
On BSE, 21 sectors ended lower with the BSE Telecommunication declining the most.
Markets At Close
Nifty and Sensex fell for a second consecutive session losing 2% this week
Intraday, both Nifty and Sensex had declined 1.4% each
Nifty ends 1.35% or 332.25 points down at 24336
Sensex ends 1.3% or 1,064.12 points lower at 80684.45
Broader indices outperformed. Both Nifty Midcap 100 and Nifty Smallcap 250 closed 0.6% lower
Except Nifty Media, which closed flat, all sectoral indices fell
Cipla was the only stock that gained among Nifty constituents
Shriram Finance and Grasim Industries fell the most
Rupee Ends At Record Closing Low Against US Dollar
Rupee weakened by 3 paise to end at a record closing low of 84.90 against the US Dollar. The currency weakened to 84.93 during the day. It closed at 84.87 on Monday.
Source: Bloomberg
