Stock Market Today: Early trading in Indian equity markets fell on Oct. 4 due to declines in the stocks of banks, financials, technology, metals, and energy businesses.
The BSE Sensex dropped over 450 points and the NSE Nifty fell below the 19,400 mark.
At 9:30 am, the BSE Sensex, which includes 30 important stocks, fell 451 points or 0.69 percent to 65,061. The NSE Nifty, another significant benchmark, fell 132 points (0.67 percent) to 19,397. The India VIX, the “fear gauge,” jumped 3.07 percent to 3.07.
NTPC, Axis Bank, IndusInd Bank, Maruti, UltraTech Cement, ICICI Bank, Tata Steel, and Bajaj Finserv were Sensex laggards. Nestle, Hindustan Unilever, HDFC Bank, and Asian Paints gained.
In Asia, Seoul, Tokyo, and Hong Kong fell, while Shanghai rose. US markets fell over 1% on Tuesday.
According to exchange statistics, FIIs sold Rs 2,034.14 crore in stocks on Tuesday. Brent crude fell 0.10 percent to USD 90.83 per barrel.
Market experts expect negative global cues to affect markets soon. Rising US bond yields and FII selling show no indication of abating. Dollar index is over 107, while US 10-year bond rate is 4.83 percent.
According to Geojit Financial Services Chief Investment Strategist V K Vijayakumar, FIIs would likely keep selling, hurting bulls. He stated that DIIs and regular investors may buy stocks in segments with favorable prices.
The BSE benchmark sank 316.31 points, or 0.48 percent, to 65,512.10 on Tuesday, while the Nifty fell 109.55 points, or 0.56 percent, to 19,528.75.
Prashanth Tapse, Senior VP (Research) at Mehta Equities Ltd., said FII selling is driving current pessimism ahead of Friday’s monetary policy statement.
Conclusion:-
Indian equity markets fell today due to declines in banks, financials, technology, metals, and energy stocks. The BSE Sensex fell over 450 points and the NSE Nifty fell below 19,400. NTPC, Axis Bank, IndusInd Bank, Maruti, UltraTech Cement, ICICI Bank, Tata Steel, and Bajaj Finserv were Sensex laggards. Nestle, Hindustan Unilever, HDFC Bank, and Asian Paints gained. Seoul, Tokyo, and Hong Kong fell, while Shanghai rose. The US markets fell nearly 1% on Tuesday. On Tuesday, Foreign Institutional Investors (FIIs) sold Rs 2,034.14 crore in stocks, and Brent crude fell 0.10 percent. Market experts say unfavorable global indications, such as rising US bond yields, are affecting markets in the near term.
