nifty declines – Artifex.News https://artifexnews.net Stay Connected. Stay Informed. Fri, 04 Oct 2024 04:55:27 +0000 en-US hourly 1 https://wordpress.org/?v=6.6.2 https://artifexnews.net/wp-content/uploads/2023/08/cropped-Artifex-Round-32x32.png nifty declines – Artifex.News https://artifexnews.net 32 32 Markets fall in early trade on unabated foreign fund outflows, Middle East conflict https://artifexnews.net/article68716694-ece/ Fri, 04 Oct 2024 04:55:27 +0000 https://artifexnews.net/article68716694-ece/ Read More “Markets fall in early trade on unabated foreign fund outflows, Middle East conflict” »

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From the 30 Sensex firms, HCL Technologies, IndusInd Bank, Tata Consultancy Services and HCL Technologies were among the gainers.
| Photo Credit: Reuters

Equity benchmark indices declined in early trade on Friday (October 4, 2024), extending their previous day’s sharp slump amid unabated foreign fund outflows and spiralling conflict in the Middle East.

Falling for the fifth day running, the Bombay Stock Exchange (BSE) Sensex dropped 354.67 points to 82,142.43. The National Stock Exchange (NSE) Nifty declined 114.1 points to 25,136.

From the 30 Sensex firms, Bajaj Finance, Asian Paints, NTPC, UltraTech Cement, State Bank of India and Bajaj Finserv were the major laggards. HCL Technologies, IndusInd Bank, Tata Consultancy Services and HCL Technologies were among the gainers.

Foreign Institutional Investors (FIIs) offloaded equities worth ₹15,243.27 crore on Thursday (October 3, 2024), according to exchange data.

In Asian markets, Seoul, Tokyo and Hong Kong were trading in the positive territory. Markets in mainland China are closed due to a holiday.

The U.S. markets ended lower on Thursday (October 3, 2024).

“The last three days have witnessed huge FII sales 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 Chinese recovery hopes play out,” said V.K. Vijayakumar, Chief Investment Strategist, Geojit Financial Services.

Global oil benchmark Brent crude dipped 0.06% to $77.57 a barrel. Falling for the fourth straight session on Thursday (October 3, 2024), the BSE benchmark tumbled 1,769.19 points or 2.10%, to settle at 82,497.10. During the day, it plummeted 1,832.27 points or 2.17%, to 82,434.02.

The Nifty slumped 546.80 points or 2.12%, to 25,250.10.

“In yesterday’s session, FIIs were net sellers, offloading ₹15,243 crore, as Nifty faced a sharp sell-off due to fragile market sentiment, sensitive to news from the Middle East,” Prashanth Tapse, Senior VP (Research), Mehta Equities Limited, said.



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Sensex, Nifty slump over 2% as Middle East conflict deepens https://artifexnews.net/article68713225-ece/ Thu, 03 Oct 2024 10:42:54 +0000 https://artifexnews.net/article68713225-ece/ Read More “Sensex, Nifty slump over 2% as Middle East conflict deepens” »

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Image used for representative purpose only
| Photo Credit: Reuters

Equity benchmark indices Sensex and Nifty tanked over 2% on Thursday (October 3, 2024), dragged by a decline in heavyweight stocks Reliance Industries, HDFC Bank and spiralling conflict in the Middle East.

Falling for the fourth day running, the BSE Sensex tumbled 1,769.19 points or 2.1% to settle at 82,497.10. During the day, it plummeted 1,832.27 points or 2.17% to 82,434.02.

The NSE Nifty slumped 546.80 points or 2.12% to 25,250.10.

Continuous foreign fund outflows and rising crude oil prices dented investors’ sentiment, analysts said.

From the 30 Sensex firms, Larsen & Toubro, Reliance Industries, Axis Bank, Asian Paints, Tata Motors, Bajaj Finance, Maruti, Bajaj Finserv, Kotak Mahindra Bank, Titan, Adani Ports and HDFC Bank were the major laggards.

JSW Steel emerged as the only gainer.

“The domestic market took a sharp downturn following Iran’s launch of ballistic missiles at Israel, sparking fears of retaliation and escalation in war,” Vinod Nair, Head of Research, Geojit Financial Services said.

“New SEBI regulations for the F&O segment have raised concerns about reduced trading volumes in the broader market. Lastly, with attractive valuations in China, FIIs have redirected their funds, adding pressure on Indian stocks,” Mr. Nair added.

In Asian markets, Hong Kong settled lower while Tokyo ended in the positive territory. Markets in mainland China will be closed for the rest of the week due to holiday.

European markets were trading mostly lower. The U.S. markets ended marginally higher on Wednesday.

Foreign Institutional Investors (FIIs) offloaded equities worth ₹5,579.35 crore on Tuesday, according to exchange data.

Global oil benchmark Brent crude climbed 1.37% to USD 74.91 a barrel.

Equity markets were closed on Wednesday for Mahatma Gandhi Jayanti.

The BSE benchmark dipped 33.49 points or 0.04% to settle at 84,266.29 on Tuesday. The Nifty ended marginally lower by 13.95 points or 0.05% to 25,796.90.



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