Stock Market LIVE Updates: Sensex opens 250pts lower at 82,250, Nifty down 70pts, below 25,200
Share Market LIVE Updates: Indian benchmark equity indices were down at opening bell on Friday, led by weak global sentiment due to rising risks of the conflict between Israel and Iran escalating.
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Stock market today: Foreign Institutional Investors (FIIs) net sold shares worth Rs 15,243.27 crore, while Domestic Institutional Investors (DIIs) net bought shares worth Rs 12,913.96 crore on Thursday, October 3. (Photo: Reuters)
Stock Market LIVE Updates, Friday, October 4, 2024: Indian benchmark equity indices opened lower on Friday, led by weak sentiment flowing from global markets, due to rising risks of escalating conflict between Israel and its allies on one side, and Iran and its supporters on the other.
At opening bell, the BSE Sensex was at 82,244, down 252 points, or 0.31 per cent, while the Nifty 50 was at 25,181, down 68 points, or 0.27 per cent.
The Indian stock market had bled heavily on Thursday, October 3, as the risk of a flare up in tensions between Iran and Israel stoked cautious sentiment among investors.
The BSE Sensex index crashed 1,769 points, or 2 per cent, to end at 82,497 levels, while the Nifty 50 broke the 25,300-mark to close at 25,250, down 547 points or 2.12 per cent.
The BSE Sensex hit an intraday low of 82,434, while the Nifty 50 dived to 25,230.30 during the day.
In the broader markets, the Nifty MidCap index pulled back by 2.2 per cent and the Nifty SmallCap index skid 1.9 per cent. Fear gauge, India VIX, soared 9.4 per cent on Thursday.
Among sectors, all indices closed in the red, with losses led by the Nifty Realty (down 4.6 per cent), Nifty Auto (down 2.7 per cent), and Nifty Private Bank (down 2.5 per cent).
Meanwhile, Asia-Pacific markets were mixed on Friday, following the lower overnight close on Wall Street, as concerns over escalating tensions in the Middle East made investors cautious ahead of the September US payrolls data.
In Australia, the S&P/ASX 200 fell 0.98 per cent, while Japan's Nikkei 225 was up 0.11 per cent, and the broader Topix was up 0.27 per cent.
South Korea's Kospi rose 0.78 per cent, while the Kosdaq was up by 1.61 per cent.
Hong Kong’s Hang Seng index was up 0.48 per cent, while markets in mainland China were closed until October 8.
Apart from that, global stocks also fell on Thursday, weighed by tepid trading in equity markets across the US and other major regions, while oil prices jumped, buoyed by rising geopolitical tension from the Middle East conflict.
Wall Street's main indexes finished lower after trading slightly higher early in the session. Data released on Thursday showed rising US jobless claims, indicating labour market softness, but strong service-sector activity.
The closely watched nonfarm payrolls report for September is due on Friday.
The Dow Jones Industrial Average fell 0.44 per cent to 42,011.59, the S&P 500 fell 0.17 per cent to 5,699.94 and the Nasdaq Composite fell 0.04 per cent to 17,918.48.
European stocks finished down 0.93 per cent as investors digested weak business activity survey data from the bloc. MSCI's gauge of stocks across the globe fell 0.39 per cent to 842.18.
Israel bombed Beirut early on Thursday following a year of clashes with Iran-backed Hezbollah. Asked if he would support Israel striking Iran's oil facilities, US President Joe Biden told reporters on Thursday "we're discussing that." He added: "There is nothing going to happen today."
Brent crude futures settled up 5.03 per cent at $77.62 a barrel. US West Texas Intermediate (WTI) crude futures settled up 5.15 per cent to $73.71.
Gold prices were flat as the US dollar strengthened against major currencies. Spot gold fell 0.01 per cent to $2,657.24 an ounce, while US gold futures settled 0.4 per cent higher at $2,679.2.
In currencies, the US dollar index rose to a six-week high, reaching 102.09, the highest since August 19.
Treasury yields rose after the jobless claims data and service sector report. Two-year Treasury yields were last up at 3.7095 per cent on Thursday, while benchmark 10-year yields were last up at 3.853 per cent.
(With inputs from Reuters.)
9:24 AM
Stock Market LIVE Updates: Broader indices in red
In the broader market, the BSE Smallcap index was down 0.90 per cent, while BSE MidCap was trading 0.77 per cent lower on Friday.
9:22 AM
Stock Market LIVE Updates: Heatmap check
Bajaj twins, Asian Paint, RIL and ICICI Bank dive in red on Sensex, while Tech Mahindra and TCS among others were trading in green.
9:19 AM
Stock Market LIVE Updates: Nifty trades in red at 25,213
NSE's Nifty50 slipped to 25,213 level, down 36 points or 0.15 per cent in the early hours of Friday.
9:16 AM
Stock Market LIVE Updates: Sensex opens flat with a positive bias at 82,507
BSE Sensex was trading flat at 82,507 level, 10 points higher or 0.01 per cent above its previous close.
9:14 AM
Stock Market LIVE Updates: Rupee opens flat at Rs 83.96
The rupee spot rate appreciated by 1 paise to Rs 83.96 per US dollar on Friday.
9:09 AM
Stock Market LIVE Updates: Nifty50 drops to 25,181 level in pre-open
NSE's Nifty50 plummeted to 25,181 level, down 68 points or 0.27 per cent in pre-open on Friday.
9:08 AM
Stock Market LIVE Updates: Sensex dips 250 pts in pre-open
The BSE Sensex slided by 252 points or 0.31 per cent at 82,244 level.
8:59 AM
Alcaftadine Ophthalmic Solution, 0.25 per cent (OTC) is used to temporarily relieve itchy eyes due to pollen, ragweed, grass, animal hair and dander. Refer label for a detailed indication. ![]()
Stock Market LIVE Updates: Alembic Pharma receives US FDA approval for itchy eye solution Alcaftadine
Stock Market LIVE Updates: Alembic Pharmaceuticals today announced that it has received the final approval from US FDA for its Abbreviated New Drug Application (ANDA) Alcaftadine Ophthalmic Solution, 0.25 per cent (OTC).
Alcaftadine Ophthalmic Solution is therapeutically equivalent to the reference listed drug product (RLD), Lastacaft Solution, 0.25 per cent, of AbbVie Inc. (AbbVie).
Alcaftadine Ophthalmic Solution, 0.25 per cent (OTC) is used to temporarily relieve itchy eyes due to pollen, ragweed, grass, animal hair and dander. Refer label for a detailed indication.
8:55 AM
The market direction in the near-term will be influenced by the tug-of-war going on between the FIIs and DIIs. The present reality is that DIIs have deeper pockets than FIIs and they have greater conviction to buy the India Growth Story.
Market will start responding to the Q2 results which will start flowing from next week onwards. Leading banks are poised for a recovery."
Views by: Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services ![]()
Stock Market LIVE Updates: 'DIIs have greater conviction to buy the India Growth Story'
Stock Market LIVE Updates: "The sharp correction of 2.1 per cent in the Nifty yesterday was more due to the massive FII selling rather than fears of Middle East tensions escalating. The last three days have witnessed huge FII selling of Rs 30,614 crores in the cash market. FIIs are moving money from expensive India to cheap Hong Kong on expectations that the monetary and fiscal stimulus being implemented by the Chinese authorities will stimulate the Chinese economy and improve earnings of Chinese companies. It remains to be seen how this Chinese recovery hopes play out.
The market direction in the near-term will be influenced by the tug-of-war going on between the FIIs and DIIs. The present reality is that DIIs have deeper pockets than FIIs and they have greater conviction to buy the India Growth Story.
Market will start responding to the Q2 results which will start flowing from next week onwards. Leading banks are poised for a recovery."
Views by: Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services
8:51 AM ![]()
Stock Market LIVE Updates: HDFC Bank's gross advances grow 7% YoY in September 2024
Stock Market LIVE Updates: HDFC Bank gross advances increased 7 per cent YoY to Rs 25.19 trillion in September 2024, from Rs 23.54 trillion in the year ago period.
Deposits for the period increased 15.1 per cent to Rs 25 trillion, from Rs 21.73 trillion in the year ago period.
8:46 AM
The company, in an exchange filing, said, "The Board at their meeting held on Thursday, 03 October 2024 approved the acquisition of 100 % stake in Altek Electronics Inc. through its wholly owned subsidiary Cyient DLM Inc".
Altek Electronics is an electronic manufacturing services provider in the United States, serving various industries, including but not limited to medical, industrial, telecommunications, and defense contractors. ![]()
Stock Market LIVE Updates: Cyient DLM board approves 100% acquisition of Altek Electronics for $37.2 million
Stock Market LIVE Updates: Cyient DLM today annoucned that its board has approved the acquisition of a 100 per cent stake in Altex Electronics.
The company, in an exchange filing, said, "The Board at their meeting held on Thursday, 03 October 2024 approved the acquisition of 100 % stake in Altek Electronics Inc. through its wholly owned subsidiary Cyient DLM Inc".
Altek Electronics is an electronic manufacturing services provider in the United States, serving various industries, including but not limited to medical, industrial, telecommunications, and defense contractors.
8:39 AM![]()
Stock Market LIVE Updates: Results preview: IT companies likely to remain on recovery path in Q2
Stock Market LIVE Updates: Management commentary on demand environment, and forward guidance will be in focus when Indian IT services players declare their September quarter results for financial year 2024-25 (Q2FY25).
The industry is exepected to have continued on the path of recovery in Q2, similar to the preceding quarter, rather than sprint towards growth. The top four firms likely grew between 0 per cent and 4 per cent year-on-year (Y-o-Y), according to consensus estimates. READ MORE
The industry is exepected to have continued on the path of recovery in Q2, similar to the preceding quarter, rather than sprint towards growth. The top four firms likely grew between 0 per cent and 4 per cent year-on-year (Y-o-Y), according to consensus estimates. READ MORE
8:38 AM![]()
Stock Market LIVE Updates: LIC eyes less than 50% stake in standalone health insurance company
Stock Market LIVE Updates: State-owned Life Insurance Corporation (LIC) is not keen on a composite license but it is looking to buy less than 50 per cent stake in a standalone health insurance company to enter the health insurance segment such that they have a say in the management of the company, without having to run the company, sources in the know said. READ MORE
8:37 AM![]()
Stock Market LIVE Updates: Unsecured business loans showing early signs of stress: India Ratings
Stock Market LIVE Updates: After micro-loans exhibited pressures from the second half of FY24, the unsecured business loans (UBLs) segment has now started showing early signs of stress, possibly due to continuing strain on cash flows in certain end-borrower segments and on-field attrition, according to India Ratings. READ MORE
8:32 AM
CareEdge has released its inaugural report on sovereign ratings, covering 39 global economies. With this, CareEdge became the first Indian credit rating agency to enter the global scale ratings space, including sovereign ratings. READ MORE![]()
Stock Market LIVE Updates: CareEdge assigns BBB+ to India, first Indian agency in global ratings space
Stock Market LIVE Updates: CareEdge Global IFSC Ltd, a subsidiary of CARE Ratings Ltd, on Thursday assigned a long-term foreign currency (LTFC) rating of CareEdge BBB+ to India, citing India's resilient post-pandemic recovery and its focus on infrastructure investment, the company said in a release.
CareEdge has released its inaugural report on sovereign ratings, covering 39 global economies. With this, CareEdge became the first Indian credit rating agency to enter the global scale ratings space, including sovereign ratings. READ MORE
Topics : Stock Market Indian stock market share market MARKETS LIVE Markets Sensex Nifty S&P BSE Sensex Nifty50 Nifty 50 BSE NSE BSE NSE equity Indian stock markets global stock market Global stock markets US markets Asia Markets
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First Published: Oct 04 2024 | 8:05 AM IST
