A series of events on October 4th, 2023, shook global markets, leading to significant declines. From geopolitical tensions in the Middle East to FII outflows, investors faced a turbulent day. The Sensex and Nifty 50 experienced their worst weekly losses since June 2022, with Reliance Industries taking the brunt of the decline.
Indian equity benchmarks Sensex and Nifty tumbled significantly in early trade on Monday, mirroring weak global markets. Fears of a US economic slowdown, foreign fund outflows, and geopolitical tensions in the Middle East contributed to the decline. The 30-share BSE Sensex dropped over 2,400 points, while the NSE Nifty fell by nearly 500 points.
The Indian stock market ended flat on Friday, dragged by HDFC Bank, while the global markets saw positive cues. Keir Starmer took charge as the UK Prime Minister, promising change. Meanwhile, the Indian government filed an affidavit in the Supreme Court defending the NEET-UG 2024 exam, and Lalu Prasad Yadav predicted the Modi government’s downfall.
On Tuesday, the Sensex plummeted 4389 points to close at 72,029, while the Nifty lost 1379 points to settle at 21884. This marked the worst single-day decline for both indexes since the COVID-19 pandemic in March 2020. These falls occurred amidst recent election results showing the NDA leading with 292 seats, and the INDIA alliance securing 232 seats.
Indian stock markets continued their downward spiral on May 9, extending losses for the fourth consecutive session. The benchmark Sensex and Nifty indices opened marginally lower and declined further throughout the day. The market’s weakness has been attributed to the ongoing Lok Sabha elections and geopolitical uncertainties. Top gainers in today’s session included automobile companies, while oil and gas and construction sectors faced significant losses.
Indian stock markets witnessed a massive crash today, with the Sensex plummeting almost 600 points to 73,294 and the Nifty slipping over 200 points to 22,242. As a result of the sell-offs prompted by weak investor sentiment, investors lost a staggering Rs 5.49 lakh crore in value. Several key sectors, including auto, metal, capital goods, and consumer durables, suffered heavy losses, dragging down the overall market sentiment.
Indian equity benchmarks, Sensex and Nifty, rose for the fourth consecutive day on April 24th, driven by positivity in global stocks and buying in metal and commodity sectors. However, selling pressure in telecom, IT, and tech sectors capped the upside momentum.
Despite positive global equity markets, selling pressure on telecom, IT, and tech sectors limited the gains of Indian benchmark indices Sensex and Nifty on Wednesday. The Sensex rose 114.49 points to settle at 73,852.94, while the Nifty advanced 34.40 points to close at 22,402.40. Metal and commodity stocks witnessed buying interest, while JSW Steel, Tata Steel, and Power Grid emerged as the top gainers from the Sensex basket. However, selling pressure on TCS, Tech Mahindra, and Maruti capped the upside. Asian markets ended mostly in the green, and European markets traded with gains, but Wall Street settled with positive returns on Tuesday. Foreign institutional investors offloaded equities worth Rs 3,044.54 crore on Tuesday.
Indian stocks are set to open higher on Wednesday, tracking gains in global markets. Asian markets have seen a surge, and US stocks closed at higher levels as investors turned their attention to the quarterly outcomes from Magnificent Seven and other large-cap growth stocks. The Indian stock market indices maintained their positive trajectory on Tuesday, marking the third straight session of gains. Equity benchmarks rose in Japan and South Korea, while futures for Hong Kong pointed up. US futures gained in early Asian trading. Meanwhile, weakness in measures of business activity helped keep alive forecasts for US rate cuts this year, which was positive for equities but weighed on the dollar and Treasury yields. The S&P 500 notched its best back-to-back rally in two months. Treasuries were largely steady after briefly extending gains on a solid $69 billion sale of two-year notes — but quickly returned to levels seen ahead of the auction — with 10-year yields little changed. Oil held a gain as an industry report showed shrinking US crude stockpiles and traders tracked progress toward fresh sanctions against Iran. Gold is little changed.
Indian equity markets closed in the green on Tuesday, with the Sensex and Nifty gaining points. Bharti Airtel emerged as the top gainer, while Reliance Industries (RIL) weighed on the indices. The Sensex rose by 90 points to settle at 73,738, while the Nifty climbed by 31 points to close at 22,368.
