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SENSEX, NIFTY tumble 1.5%: Key reasons why the market fell today

Upstox
By Upstox News Desk

3 min read | Updated on October 01, 2024, 06:47 IST

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SUMMARY

A Palestinian militant group said on Monday that three of its leaders were killed in an Israeli strike on Beirut, the first attack within city limits as Israel escalated hostilities against Iran's allies in the region. The Popular Front for the Liberation of Palestine (PFLP) said the three leaders were killed in a strike that targeted Beirut's Kola district.

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Asian share markets slipped on Monday as conflict in the Middle East offset more stimulus measures in China.

Asian share markets slipped on Monday as conflict in the Middle East offset more stimulus measures in China.

Stock market crash: The domestic stock market looked like a sea of red on Monday, September 30, amid heavy sell-off in most sectors.

At close, the S&P BSE SENSEX stood at 84,299.78, down 1,272.07 points, or 1.49%. The broader NIFTY50 index of the NSE was trading at 25,810.85, down 368.10 points, or 1.41%.

Here is a list of factors that weighed on investor sentiment today. 
Weak Asian stocks: Asian share markets slipped on Monday as conflict in the Middle East offset more stimulus measures in China, while the Nikkei dived on concerns Japan's new prime minister favoured normalising interest rates.

The Nikkei led the early action with a dive of 4.1% as investors anxiously waited for more direction from new Prime Minister Shigeru Ishiba, who has been critical of the Bank of Japan's easy policies in the past.

Geopolitical developments: A Palestinian militant group said on Monday that three of its leaders were killed in an Israeli strike on Beirut, the first attack within city limits as Israel escalated hostilities against Iran's allies in the region.

The Popular Front for the Liberation of Palestine (PFLP) said the three leaders were killed in a strike that targeted Beirut's Kola district.

Israel's increasing frequency of attacks against the Hezbollah militia in Lebanon and the Houthi militia in Yemen have prompted fears that Middle East fighting could spin out of control and draw in Iran and the United States, Israel's main ally.

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The PFLP is another militant group taking part in the fight against Israel.

Israel on Sunday launched airstrikes against the Houthi militia in Yemen and dozens of Hezbollah targets throughout Lebanon after earlier killing the Hezbollah leader.

BSE, NSE revise transaction fees: On Friday, stock exchanges announced revisions in their transaction fees for cash and futures and options (F&O) trades. 

BSE has revised the transaction fees for SENSEX and BANKEX options contracts in the equity derivatives segment to ₹3,250 per crore of premium turnover.

According to the NSE, the transaction fee for the cash market will be ₹2.97 per lakh of traded value. For equity futures, the fee will be ₹1.73 per lakh of traded value, while for equity options, it will be ₹35.03 per lakh of premium value.

In the currency derivatives segment, futures will incur a fee of ₹0.35 per lakh of traded value, and options, including interest rate options, will have a fee of ₹31.10 per lakh of premium value.

These announcements are expected to impact trade volumes. 

Fall in heavyweights: Index heavyweights such as Reliance Industries (RIL), ICICI Bank, HDFC Bank, Axis Bank, and Bharti Airtel traded with significant cuts, thus causing the benchmark indices to trade lower.

About The Author

Upstox
Upstox News Desk is a team of journalists who passionately cover stock markets, economy, commodities, latest business trends, and personal finance.

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