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SENSEX down 300 points, NIFTY50 holds 25,100; D-Mart operator Avenue Supermarts slips 3%
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3 min read | Updated on October 04, 2024, 10:10 IST
SUMMARY
On the SENSEX, 21 stocks were trading in the red. IT stocks bucked the trend as all the leading names were trading in the green. TCS was up 0.6%, while HCLTech was up nearly 0.4%. Infosys was also trading in the green.
At 9:27 AM, the S&P BSE SENSEX was trading 376.64 points, or 0.46%, lower at 82,120.46 levels
At 9:27 AM, the S&P BSE SENSEX was trading 376.64 points, or 0.46%, lower at 82,120.46 levels while the NSE NIFTY50 was trading at 25,131.05, down 119.05 points, or 0.47%.
Top gainers and losers on NSE
ONGC, TCS, Wipro, HCLTech, and ITC were the top gainers on the NSE. On the flip side, BPCL, Bajaj Finance, Trent, Asian Paints, and Hero MotoCorp, were the biggest losers.
Foreign institutional investors (FIIs) offloaded equities worth ₹15,243.27 crore on Thursday, according to exchange data.
"The last three days have witnessed huge FII selling of ₹30,614 crore in the cash market. FIIs are moving money from expensive India to cheap Hong Kong on expectations that the monetary and fiscal stimulus being implemented by the Chinese authorities will stimulate the Chinese economy and improve earnings of Chinese companies.
"It remains to be seen how these Chinese recovery hopes play out," said V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.
Buzzing Stocks
The company reported revenue at ₹14,050 crore, up 14% from the corresponding quarter of the previous fiscal. The number of stores stood at 377 during the period under preview.
Broader Market
The BSE MidCap index was trading 0.83% lower at 47,960.17 points, while the BSE SmallCap index was trading 0.81% lower at 55,937.77 points.
Sectorally, barring IT stocks, all other indices were trading in the red. The NIFTY IT index was up 0.5% at 41,971.05 levels. All the 10 constituents were trading in the green.
Global Markets
Asian stocks retreated on Friday while oil prices headed for their sharpest weekly gain in more than a year, as escalating tensions in the Middle East kept markets on edge ahead of a US jobs report later in the day.
MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.32% and was set to end the week little changed.
Japan's Nikkei also reversed early gains to last trade 0.08% lower. It was headed for a weekly loss of more than 3%.
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