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I) Nifty: opened at 25452 and touched a high of 25639 then a low of 25230 and closed at 25250 with a total of - 546 points in Negative
II) Bank Nifty: open 52314 and touched a high of 52582 then a low of 51683 and closed at 51845 With a total of - 1077 points Negative
III) Fin Nifty: open 24215 and touched a high of 24326 then a low of 23819 and closed at 23881 With a total of - 595 points in Negative
IV) Nifty Mid Select: open 13118 and touched a high of 13235 then a low of 12887 and closed at 12976 With a total of - 319 points in Negative
Today’s Indian stock market highlights (October 3, 2024), excluding indices:
Today, the Indian stock market exhibited mixed performance as investors reacted to global cues, corporate earnings, and economic data. The trading session saw volatility due to fluctuations in international markets, especially influenced by global oil prices and geopolitical tensions.
FIIs remained net sellers in the market today, continuing the trend seen in recent weeks. Concerns over rising interest rates in the U.S. and geopolitical uncertainties have led to a cautious approach among foreign investors. However, domestic institutional investors (DIIs) have been stepping in to support the market, helping to cushion some of the declines.
The market reacted to the release of key economic indicators, including the Manufacturing Purchasing Managers’ Index (PMI), which showed a slight contraction. This data raised concerns about the health of the manufacturing sector and the overall economy, leading to some profit booking in stocks.
Oil prices surged again due to ongoing tensions in the Middle East, impacting sentiment in energy stocks. Investors closely monitored crude prices, as further increases could lead to inflationary pressures and affect consumer spending.
As we look ahead, investors will be focused on upcoming corporate earnings reports and global economic indicators. The U.S. Federal Reserve's next policy meeting will also be a critical factor influencing market sentiment. Analysts suggest that sectors like banking and pharmaceuticals may continue to show resilience, while IT and automotive sectors could remain under pressure.
In summary, today’s trading session highlighted the mixed sentiment in the Indian stock market, driven by sector-specific performances, corporate announcements, and external economic factors. Investors are advised to stay cautious and keep an eye on upcoming economic data and corporate earnings reports to make informed decisions.
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