Sensex Slips 14 Pts & Nifty Closes at 25,940 on Sep 24, 2024

Daily Stock Market Update

Market Overview?

In today’s update, we’ll examine the stock market's lack of significant movement, highlighting minimal changes in key indices and muted activity across sectors. We’ll explore how cautious sentiment and balanced buying and selling pressures shaped the flat market performance for the day.

Market Summary

• Nifty ? ? ? ??25,940 [+1.35] 0.01
• Sensex ? ?84,914 [-14.57] 0.02?

Reasons for Sideways Market

• Investors booked profits after the market hit new peaks, with the Sensex and Nifty crossing 85,000 and 26,000, respectively. The high valuations led to fluctuations in the market and prevented further gains.

• Gains in metal, oil & gas, and power sectors were offset by declines in FMCG, PSU banks, and telecom stocks, contributing to the flat market close.

• Investor sentiment remained mixed, as concerns about the upcoming RBI monetary policy and high valuations kept participants cautious, limiting further upside momentum.

Top 3 Stocks That Gained & Lost The Most?

Nifty?

Tata Steel:? + 4.32

Hindalco:? + 4.12

PowerGrid:? + 2.77

Sensex?

HUL:? - 2.46

UltraTech Cement:? - 1.54

IndusInd Bank:? - 1.16

Sectors of the Day?

Nifty Metal:? + 2.97

Nifty IT: ? + 0.61

Nifty Auto:? + 0.43

• Power Grid shares rose today after the company won a bid to establish an inter-state transmission system in Gujarat's Khavda village, boosting investor confidence in its future revenue potential from the project.

IPO Performance

• Paramount Speciality Forgings Limited IPO shares are expected to be listed on the NSE SME platform around September 25, 2024.
• TechEra Engineering Limited IPO will be open for bidding from September 25, 2024, to September 27, 2024, with shares priced at ?75 to ?82 per share.?

• KRN Heat Exchanger and Refrigeration Limited IPO will be open for bidding from September 25, 2024, to September 27, 2024, with shares priced at ?209 to ?220 per share.?

Key Events to Track For 25th September 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.

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