Sensex Closes Below 84,300 & Nifty Down 368 Pts on Sep 30, 2024

Daily Stock Market Update

Market Overview?

In today’s update, we’ll examine the latest developments in the stock market, focusing on key performances, significant losses, and trends that shaped the trading day. We’ll understand how market volatility and external factors impacted investor sentiment.?

Market Summary

• Nifty ? ? ? ??25,810 [-368.10] 1.41
• Sensex ? ?84,299 [-1,272.07] 1.49

Reasons for Market Downturn

• The escalating conflicts in the Middle East have heightened global uncertainty, prompting investors to seek safer assets while avoiding riskier ones.

• Additionally, investors are taking profits after a strong market rally, leading to selling pressure. With many stocks reaching one-year highs, some investors are capitalizing on their gains.

• There has also been significant selling by foreign investors, which may have contributed to increased market volatility and affected overall investor sentiment.

• As the upcoming earnings season approaches, investors are hesitant to make new bets until they can assess the performance of major companies in the Q2 results, which could influence market direction.

Top 3 Stocks That Lost The Most?

Nifty?

Hero MotoCorp: - 4.03

Trent: - 3.39

Axis Bank: - 3.27

Sensex

Reliance: - 3.23

Axis Bank: - 3.15

ICICI Bank: - 2.58

Sectors of the Day?

Nifty Auto:? - 2.11

Nifty Financial Services: - 1.72

Nifty Private Bank: - 1.70

IPO Performance

• Divyadhan Recycling Industries Limited IPO and Sahasra Electronics Solutions Limited IPO’s allotment is scheduled for October 01, 2024.

• Forge Auto International Limited IPO and Diffusion Engineers Limited IPO’s allotment is scheduled for October 01, 2024.

• Nexxus Petro Industries Limited IPO’s allotment is scheduled for October 01, 2024.

Key Events to Track For 1st October 2024?

• Monitor international markets for any significant developments or trends that could impact Indian markets.?

• Keep an eye on scheduled economic data releases such as GDP figures, industrial production data, or inflation reports, as they can influence market sentiment and direction.?

• Track earnings announcements from major companies across sectors, to gauge the health of the corporate sector and anticipate market reactions.?

• Stay informed about any policy announcements or decisions by the Indian government, as they can impact market sentiment and specific industries.?

• Stay updated on global events as they can affect Indian markets and investor sentiment.

Subscribe to our newsletter for daily updates now!