Stock Market Live Updates October 25, 2024: Sensex Plunges 834 Points, Nifty Slips Over 1% Amid Geopolitical Concerns Boosting Safe-Haven Assets

The Indian stock market experienced a significant downturn on October 25, 2024, as geopolitical tensions led investors to seek refuge in safe-haven assets1. The BSE Sensex plummeted by 834 points, closing at 79,672.17, while the Nifty 50 index fell by over 1%, ending at 24,257.501.

Key Factors Driving the Market Decline

1. Geopolitical Tensions: Rising geopolitical concerns have prompted investors to move their funds into safer assets, causing a sell-off in equities1.
2. Foreign Outflows: Persistent foreign capital outflows have added pressure on the market, contributing to the downward trend1.
3. Mixed Earnings Reports: Lackluster earnings reports from several major companies have also weighed on investor sentiment1.

Sectoral Performance

• Top Gainers: Despite the overall market decline, some sectors managed to perform well. Notably, the Nifty Metal Index continued to outshine the broader market2.
• Top Losers: On the flip side, sectors such as IT, auto, and smallcap stocks faced significant declines3.

Notable Stock Movements

• Swiggy: The IPO-bound food delivery giant slashed its valuation target by 10-16% to $12.5-$13.5 billion due to market volatility2.
• Hindustan Unilever: The FMCG giant saw a sharp decline of 5.8%, closing at 2505.103.
• Tata Steel: The steel major experienced a slight drop of 0.13%, ending at 148.983.

Market Analysts' Views

Market analysts have expressed concerns about the ongoing geopolitical tensions and their impact on investor confidence. They suggest that until there is more clarity on the geopolitical front, the market may continue to experience volatility.

Looking Ahead

Investors are advised to stay cautious and keep a close watch on global developments. Diversifying portfolios and focusing on sectors that are less affected by geopolitical risks could be a prudent strategy in the current environment.