Stock Market Crash LIVE Updates: Sensex falls 1,000pts at 84,500, Nifty down 300pts at 25,900
Stock Market Crash LIVE Updates: Indian equity benchmark indices were trading lower after opening in the red on Monday, tracking mixed cues from major global markets.
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Stock Market Today: Foreign Institutional Investors (FIIs) net sold shares worth Rs 1,209.10 crore, while Domestic Institutional Investors (DIIs) ne bought shares worth Rs 6,886.65 crore on Friday, September 27.
Stock Market Crash LIVE Updates, Monday, September 30, 2024: Benchmark Indian equity indices BSE Sensex and Nifty 50 were trading lower after opening in the red on Monday.
At 11 AM, the BSE Sensex was at 84,719, down 852 points, or 1 per cent, while the Nifty 50 was at 25,929, down 249 points, or 0.95 per cent.
More than half the stocks were red on the BSE Sensex around opening bell. Gains were led by NTPC, Tata Steel, JSW Steel, Titan, and Bajaj Finance, while Tech Mahindra, ICICI Bank, Infosys, Mahindra & Mahindra, and TCS, were the top drags.
On the Nifty 50, 28 out of the 50 stocks were in the red. Losses were led by Hero MotoCorp, Infosys, Tech Mahindra, ICICI Bank, and Mahindra & Mahindra, while BPCL, NTPC, Hindalco, JSW Steel, and Tata Steel were the top laggards.
Across sectors, the Nifty Metal was the top gainer (up 1.41 per cent) followed by Consumer Durables and Oil & Gas.
In contrast, the Nifty Realty was the top drag (down 1.12 per cent), followed by IT and Auto, which were down 0.95 per cent and 0.80 per cent, respectively.
Meanwhile, the broader markets were red, with the BSE SmallCap down 0.46 per cent and the BSE MidCap down 0.43 per cent.
At close, the BSE Sensex fell by 264 points, or 0.31 per cent, to finish at 85,571.85, having reached a record high of 85,978.25 earlier in the day.
The Nifty 50 also hit an all-time high of 26,277.35 before ending the session down by 37.13 points, or 0.14 per cent, at 26,178.95.
The broader indices, including the Nifty Midcap 100 and Nifty Smallcap 100, also saw losses of 0.15 per cent and 0.10 per cent, respectively.
Sectoral indices such as Bank Nifty, Media, Nifty Private Bank, and Realty, closed with declines of over 1 per cent each.
In contrast, the Nifty Oil & Gas index climbed by 2.37 per cent, while sectors like PSU Bank, Pharma, Metal, and IT saw gains of up to 1.15 per cent.
That apart, Asia share markets were mostly firmer on Monday as China announced more stimulus measures, though the Nikkei dived on concerns Japan's new prime minister favoured normalising interest rates.
Continued Israeli strikes across Lebanon added geopolitical uncertainty to the mix, though oil prices were still weighed down by the risk of increased supply.
The week is packed with major US economic data including a payrolls report that could decide whether the Federal Reserve delivers another outsized rate cut in November.
The Nikkei led the early action with a dive of 4.0 per cent as investors anxiously waited for more direction from new Prime Minister Shigeru Ishiba, who has been critical of the Bank of Japan's easy policies in the past.
However, he sounded more conciliatory over the weekend saying monetary policy "must remain accommodative" given the state of the economy.
That helped the dollar bounce 0.5 per cent to 142.85 yen, after sliding 1.8 per cent on Friday from a 146.49 top.
Over in China, the central bank said it would tell banks to lower mortgage rates for existing home loans by the end of October, likely by 50 basis points on average.
That follows a barrage of monetary, fiscal and liquidity support measures announced last week in Beijing's biggest stimulus package since the pandemic.
In the previous week, the blue-chip CSI300 and Shanghai Composite indices gained roughly 16 per cent and 13 per cent, respectively, while Hong Kong's Hang Seng index jumped 13 per cent.
On Monday, MSCI's broadest index of Asia-Pacific shares outside Japan firmed 0.2 per cent, having surged 6.1 per cent last
week to a seven-month high.
Wall Street also had a rousing week helped by a benign reading on core US inflation on Friday that left the door open to another half-point rate cut from the Fed.
Futures imply around a 53 per cent chance the Fed will ease by 50 basis points on November 7, though the presidential election two days earlier remains a major unknown.
A host of Fed speakers will have their say this week, led by Chair Jerome Powell later on Monday. Also due are data on job openings and private hiring, along with ISM surveys on manufacturing and services.
S&P 500 futures were up 0.1 per cent on Monday, while Nasdaq futures added 0.2 per cent. The S&P 500 index is up 20 per cent year-to-date and on track for its strongest January-September performance since 1997.
In currency markets, the dollar index was flat at 100.41 after easing 0.3 per cent last week.
The euro zone releases its inflation figures this week, along with producer prices and unemployment. German inflation and retail sales are due later on Monday, while European Central Bank President Christine Lagarde speaks to parliament.
A softer dollar combined with lower bond yields to help gold reach record highs at $2,685 an ounce. It was last at $2,664 an ounce, and on track for its best quarter since 2016.
Oil prices were erratic as concerns about possible increased supply from Saudi Arabia countered tensions in the Middle East.
Brent fell 1 cent to $71.86 a barrel, while US crude rose 3 cents to $68.21 per barrel.
(With inputs from Reuters.)
11:53 AM ![]()
Stock Market LIVE Updates: Market Crash: Why Sensex fell 850 pts, Nifty slipped below 25,950 intraday
Stock Market LIVE Updates: The Indian stock market saw a bear attack on Monday, with the BSE Sensex crashing 960 points or over 1 per cent to 84,607 levels intraday, and the Nifty falling 283.5 points at 25,895 levels.
The retreat in the stock market roday comes on the back of consecutive fresh highs breached by the benchmarks Sensex and Nifty in the last couple of weeks. Earlier on Friday, too, the bourses hit new highs with Sensex touching 85,978.25 and nearing the 86,000 mark, while the Nifty reached a fresh peak of 26,277.35 level. READ MORE
11:44 AM
The company, in an exchange filing, said, "We are pleased to inform you that the company has received an order from ContropParas Technologies Private Limited, to execute the Indian Content of the aforementioned order valued at approximately Rs 293 crore (plus taxes)."
The company added, "Controp-Paras Technologies Private Limited, an Associate Company of Paras Defence and Space Technologies, had received an order from Larsen and Toubro Limited valued at approximately Rs 305 crore (plus taxes) comprising of manufacturing and supply of 244 nos. of Sight – 25HD EO (Electro-Optics) System along with Extended Warranty Charges and Integrated Logistics Support Package, for their CIWS Program." ![]()
Stock Market LIVE Updates: Paras Defence to supply Indian content part of associate co's Rs 305-crore deal
Stock Market LIVE Updates: Paras Defence and Space Technologies today announced that it has received a Rs 293-crore order from its associate company Controp-Paras Technologies, to execute the Indian Content part of the Rs 305-crore deal received by Controp-Paras to supply 244 Sight-25HD Electro-Optics Systems.
The company, in an exchange filing, said, "We are pleased to inform you that the company has received an order from ContropParas Technologies Private Limited, to execute the Indian Content of the aforementioned order valued at approximately Rs 293 crore (plus taxes)."
The company added, "Controp-Paras Technologies Private Limited, an Associate Company of Paras Defence and Space Technologies, had received an order from Larsen and Toubro Limited valued at approximately Rs 305 crore (plus taxes) comprising of manufacturing and supply of 244 nos. of Sight – 25HD EO (Electro-Optics) System along with Extended Warranty Charges and Integrated Logistics Support Package, for their CIWS Program."
11:34 AM
The company, in an exchange filing, said that as a part of the order, Energy Management System and associated software systems will be implemented for 12 set of control rooms.
It added that through another recent mandate, L&T DES team will implement upgradation of power and transmission control room in the western US, with one of the most complex configurations involving more than 15 EMS hosts, deploying advanced applications to monitor and control the energy flow in real-time.
On the Distribution Grid Management side, L&T DES is implementing advanced distribution management systems in Mumbai and Vadodara, the company added. ![]()
Stock Market LIVE Updates: L&T's digital energy solutions arm to implement energy management systems
Stock Market LIVE Updates: Larsen & Toubro today announced that its power transmission & distribution (PT&D) business's digital energy solutions (DES) arm has received the mandate to develop an implement energy management systems in regional and state load dispatch centers in South India.
The company, in an exchange filing, said that as a part of the order, Energy Management System and associated software systems will be implemented for 12 set of control rooms.
It added that through another recent mandate, L&T DES team will implement upgradation of power and transmission control room in the western US, with one of the most complex configurations involving more than 15 EMS hosts, deploying advanced applications to monitor and control the energy flow in real-time.
On the Distribution Grid Management side, L&T DES is implementing advanced distribution management systems in Mumbai and Vadodara, the company added.
11:26 AM
He said that the growth in the country is so great at the moment that future PE is coming down.![]()
Stock Market LIVE Updates: Mark Mobius says valuations in India are high in historical terms
Stock Market LIVE Updates: According to Mark Mobius, investors focus on the P/E multiples of stocks to determine valuations, but in the current situation, the E (earnings) of P/E ratio does not look overvalued.
He said that the growth in the country is so great at the moment that future PE is coming down.
11:22 AM ![]()
Stock Market LIVE Updates: Mark Mobius says more FIIs are going to come to India
Stock Market LIVE Updates: Mobius says FIIs coming to India are entering the derivatives segment, with the heavier weightage assigned to the country in global indices attracting them.
11:17 AM
Real Estate, because demand for housing will contniue to soar, including in affordable housing segment.
Metals and automobiles, with infrastructure spending going up.
Apart from that, Mobius is bullish on metal related infra companies, and pharma companies.![]()
Stock Market LIVE Updates: Mark Mobius bullish on Real Estate, Metals and automobile sectors
Stock Market LIVE Updates: Mark Mobius bullish on a few sectors in the current bull run in the Indian markets
Real Estate, because demand for housing will contniue to soar, including in affordable housing segment.
Metals and automobiles, with infrastructure spending going up.
Apart from that, Mobius is bullish on metal related infra companies, and pharma companies.
11:14 AM
He added that India is on a growth trajectory that cannot be stopped and which has not been seen before, per CNBC TV18.![]()
Stock Market LIVE Updates: Mark Mobius says Sensex may hit 100,000 by end of year
Stock Market LIVE Updates: Mark Mobius of Mobius EM Fund, says Sensex may hit 1,00,000 by the end of year, given that the measures taken by Sebi (with regards to F&O segment) do not put a dampner on the markets.
He added that India is on a growth trajectory that cannot be stopped and which has not been seen before, per CNBC TV18.
11:08 AM
However, he added that the rally in China may turn out to be good news for all emerging markets (EM), including India as 50 per cent money in all EM is index money, according to CNBC TV18.![]()
Stock Market LIVE Updates: Mark Mobius says, China rally will help other Emerging Markets too
Stock Market LIVE Updates: Throwing caution to the wind, Mark Mobius of Mobius Emerging Markets Fund said there may be a pull back in China after the current rally.
However, he added that the rally in China may turn out to be good news for all emerging markets (EM), including India as 50 per cent money in all EM is index money, according to CNBC TV18.
11:02 AM
At 11 AM, the BSE Sensex was at 84,719, down 852 points, or 1 per cent, while the Nifty 50 was at 25,929, down 249 points, or 0.95 per cent.![]()
Stock Market LIVE Updates: 11 AM market update - Benchmarks extend losses
Stock Market LIVE Updates: Indian equity benchmark indices BSE Sensex and Nifty 50 continued their downward trajectory after opening lower on Monday.
At 11 AM, the BSE Sensex was at 84,719, down 852 points, or 1 per cent, while the Nifty 50 was at 25,929, down 249 points, or 0.95 per cent.
10:54 AM
At around 9:28 AM, the Nifty Metal index was up 1.23 per cent at 10,188.3. READ MORE![]()
Stock Market LIVE Updates: Metals stocks glint in trade; Nifty Metal up over 1% on China stimulus
Stock Market LIVE Updates: The Nifty Metal index advanced over 1 per cent in the morning deals on Monday, September 30. The rally in metal stocks came after China's central bank, People's Bank of China (PBOC), announced, on Sunday, to lower mortgage rates for existing home loans before October 31.
At around 9:28 AM, the Nifty Metal index was up 1.23 per cent at 10,188.3. READ MORE
10:47 AM ![]()
Stock Market LIVE Updates: Manba Finance share locks in 5% upper circuit after strong market debut
Stock Market LIVE Updates: Manba Finance shares continued their northward trajectory post-listing, jumping 5 per cent to hit the upper circuit of Rs 157.45 on the BSE, and Rs 152.25 on the NSE within less than half an hour of their market debut on Monday.
Nearly 48.40 lakh equity shares of Manba Finance, worth around Rs 72.14 crore, changed hands on the NSE and BSE combined on Monday. READ MORE
10:41 AM
The company, in an exchange filing, said "There is no further dilution in the holding anticipated by the group in the foreseeable future. Post this transaction, Gulf Oil International (Mauritius) Inc, promoter of the company will continue to hold 67.22 per cent in the company."![]()
Stock Market LIVE Updates: Gulf Oil India promoter Gulf Oil International (Mauritius) sells 4.47% stake in co
Stock Market LIVE Updates: Gulf Oil Lubricants India today informed that its promoter Gulf Oil International (Mauritius) has sold 22,00,000 equity shares (representing 4.47 per cent of the total issued and paid-up share capital of Gulf Oil Lubricants India Limited, on Thursday, September 26, 2024, to increase the free float and liquidity of the company in the secondary market.
The company, in an exchange filing, said "There is no further dilution in the holding anticipated by the group in the foreseeable future. Post this transaction, Gulf Oil International (Mauritius) Inc, promoter of the company will continue to hold 67.22 per cent in the company."
10:36 AM
The company, in an exchange filing, said, "This strategic move is part of the company’s long-term vision to expand its national footprint and meet the increasing demand for high-quality pre-engineered buildings across the country." ![]()
Stock Market Crash LIVE Updates: Interarch buys 51,926 sq. mt land in Gujarat to build new production facility
Stock Market Crash LIVE Updates: Interarch Building Products today informed that it has acquired a 51,926 sq. mts land parcel in Gujarat for Rs 7 crore, to set up its new manufacturing facility.
The company, in an exchange filing, said, "This strategic move is part of the company’s long-term vision to expand its national footprint and meet the increasing demand for high-quality pre-engineered buildings across the country."
10:30 AM ![]()
Stock Market LIVE Updates: Avantel stock zooms over 12% in a day; up 118% in one year; check details
Stock Market LIVE Updates: Aerospace and defence company Avantel’s share price today skyrocketed up to 12.47 per cent at Rs 193 per share after the company bagged an order worth Rs.44.49 crore from Larsen and Toubro.
The country's biggest infrastructure major, L&T gave an order for supply of Satcom Systems to Avantel. The company post market hours on Friday said in an exchange filing that the supply order will be executed by March 2025. READ MORE
10:22 AM
The company, in an exchange filing, said, "We are pleased to announce the receipt of a prestigious order from the Middle East for supply of Coated LSAW Pipes and Bends for sour service."
The company added that with this, the cumulative value of the line pipe orders received both in India and the US stands at around Rs 1,348 crore since its last disclosure made on July 24, 2024.
The company had disclosed a total orders value of Rs 1,202 crore in on July 24.![]()
Stock Market LIVE Updates: Welspun Corp bags order to supply coated pipes and bends for Rs 146 crore
Stock Market LIVE Updates: Welspun Corp today informed that it has received an order worth Rs 1,348 crore, from the Middle East, to supply coated LSAW pipes and bends for sour service.
The company, in an exchange filing, said, "We are pleased to announce the receipt of a prestigious order from the Middle East for supply of Coated LSAW Pipes and Bends for sour service."
The company added that with this, the cumulative value of the line pipe orders received both in India and the US stands at around Rs 1,348 crore since its last disclosure made on July 24, 2024.
The company had disclosed a total orders value of Rs 1,202 crore in on July 24.
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First Published: Sep 30 2024 | 7:41 AM IST
