Indian equity market today entered into a bloodbath, experiencing a significant decline of over 2% in both Sensex and Nifty 50 Index due to widespread selling pressure. The escalating tensions in the Middle East, together with a broader risk-off sentiment, fueled the market downturn. All sectoral indices were trading in negative territory, with Auto, Oil & Gas, Nifty Bank, Financial Services, and Media indices suffering losses of more than 2% each. The Realty index, however, faced the most severe downturn, falling by 4.2%. JSW Steel and Tata Steel were the only notable exceptions extending gains in the market
Earlier,Sensex and Nifty tumbled sharply on Thursday, dragged down by declines across most sectors. Investors' concerns over the escalating conflict in the Middle East fueled the sell-off. At around 11:50 AM, the BSE Sensex was trading at 82,965, down by 1,300 points or 1.54%. The Nifty 50 index was at 25,405.00, down by 391 points or 1.54%.
Market opened on a sharp bearish note, with Sensex diving by over 1,264 points. While Nifty dipped by more than 345 points. Except JSW Steel and marginal surge in Tata Steel, all stocks were in red on Sensex. Stocks like M&M, Tata Motors, Asian Paint, ICICI Bank, Hindustan Unilever, and Reliance Industries slipped by 1.5% to 3%.
BSE Bankex dived by over 600 points, while Nifty Bank shed over 574 points. BSE Auto index fell the most with decline of 1,247.43 points. All sectoral indices are in red. Power, Oil & Gas, Realty, Banking, auto, industrials, capital goods and consumer durables indices fell by 1% to 2%.
Gift Nifty traded volatile, while Asian shares are trading mixed. This comes after a volatile Wall Street.
Apart from global factors, Indian stocks will be influenced due to upcoming Q2 results season, and RBI monetary policy.
Meanwhile, geopolitical tensions escalate. The limited ground invasion of Israel in Lebanon continues, alongside sweeping of Hamas terrorists in Gaza. At the same time, the Jewish country has promised to retaliate against Iran's latest barrage of some 200 missiles on their soil.
Also, the latest ADP National Employment report showed that U.S. private payrolls surged by 143,000 in September 2024, higher than market expectations.
LIVE Feed
Oct 03, 2024, 3:13 pm IST
Adani, Google To Collaborate On Clean Energy
Google and Adani Group on Thursday announced a clean energy collaboration, helping advance companies' collective sustainability goals and add more clean energy to Indian grid. While Google made the announcement at the 'Google for India' event here, the Adani Group gave details in a statement. Through this partnership Adani will supply clean energy from a new solar-wind hybrid project located in the world's largest renewable energy plant at Khavda, Gujarat. This new project is expected to start commercial operations in the third quarter of 2025," the Adani group statement said.
Sarveshwar Food ltd Achieves Rs.500cr Sales for the First Time in Half a Fiscal Year
Sarveshwar Foods Limited (SFL), an ISO 22000:2018 and US FDA certified leader in the agro product FMCG sector, proudly announces a remarkable achievement: surpassing ₹500 crores in sales during the first half of the current fiscal year.This significant milestone reflects the increasing popularity of SFL’s premium offerings and is largely attributed to the growing recognition of its organic products sold under the brand name 'Nimbark'. As a result, the company is witnessing profit growth drive commitment to high-quality organic offerings. With a legacy spanning over 130 years, SFL has earned a reputation for excellence in producing healthy and flavourful The company specializes in manufacturing, trading, processing, and marketing a wide array of branded and unbranded basmati and non and organic products.
Oct 03, 2024, 2:10 pm IST
RITES & DMRC Sign MoU For Exploring Metro Works
RITES Ltd., a leading transport infrastructure consultancy, today signed a Memorandum of Understanding (MoU) with Delhi Metro Rail Corporation (DMRC), which is renowned for operating and maintaining Delhi’s extensive metro rail network. Through this MoU, both organizations will combine their strengths to identify, secure, and execute metro projects in India and abroad. This strategic collaboration will focus on offering services in areas including General Consultancy, Project Management, Detailed Design, Feasibility Studies and others. The partnership aims at tapping opportunities in the urban transit system space, delivering world-class solutions for both domestic and international projects.
Oct 03, 2024, 12:56 pm IST
All Auto Stocks Fall
All auto shares have nosedive on Thursday, October 3, 2024. From large-caps like Tata Motors, and Maruti Suzuki to mid-cap and small-caps Motherson, and Exide Industries, auto stocks are taking massive beatings from bears. BSE Auto index nosedived by as much as 1,436.6 points so far in the trade.
Oct 03, 2024, 11:50 am IST
ITD Cementation India Ltd Secured New Contract Worth Rs 1,937 cr
ITD Cementation India Limited, an Engineering and Construction Companies undertaking Heavy Civil, Infrastructure and EPC business has secured a contract for constructing a multistoried commercial building worth approximately Rs 1,937 crore including taxes and duties in Uttar Pradesh.
Oct 03, 2024, 11:33 am IST
Emcure Pharmaceuticals Signs Agreement With Gilead
Emcure Pharmaceuticals, a leading Indian pharma company announces the signing of a royalty-free voluntary licensing agreement with Gilead Sciences Ireland UC, part of California, US based Gilead Sciences to manufacture and supply generic versions of lenacapavir. This agreement is part of a broader effort to increase global access to lenacapavir for HIV prevention and treatment, with a focus on high-incidence, resource-limited countries. Emcure will play a crucial role in ensuring the availability of high-quality, low-cost versions of lenacapavir in 120 countries, primarily in low- and lower-middle-income regions. This strategic partnership underscores Emcure's commitment to innovative affordable global healthcare. Commenting on the development, Satish Mehta, Managing Director and CEO, Emcure Pharmaceuticals Ltd., said, "We are proud to partner with Gilead in this global initiative to expand access to critical HIV medicines. As the leader in HIV antiviral segment in covered market in India with long standing experience in supplying HIV medicines to over 100 LMIC countries, Emcure is uniquely positioned to drive impactful change in the global fight against HIV. By bringing lenacapavir to the regions that need it most, we are taking a step forward in improving health outcomes worldwide.
Oct 03, 2024, 11:00 am IST
Paytm Deploys Card Machines At Krishi Mandis Across Madhya Pradesh
One 97 Communications Limited (OCL) that owns the brand Paytm, India’s leading payments and financial services distribution company and the pioneer of QR and mobile payments, has announced the deployment of 800 Paytm EDC devices (card machines) across 42 Krishi Mandis in Madhya Pradesh. This significant initiative empowers the traders and farmers at the Mandis by facilitating smoother and more secure transactions, thus enhancing the financial inclusivity and operational efficiency within the local agricultural community.
Oct 03, 2024, 10:37 am IST
Quintype Technologies Appoints Manish Krishnan As An Additional Director And Chairman Of The Board
Quintype Technologies India Limited (“Quintype Technologies”), a leading AI-powered digital experience platform empowering news and media publishers to create, distribute and monetise their content, has appointed Manish Krishnan as an Additional Director and Chairman of the Board of Directors. Manish, a seasoned tech entrepreneur and investor, previously served as the Managing Director, North America, at Nagarro, a leading digital product engineering and technology firm listed on the Frankfurt Stock Exchange. In 2021, Nagarro acquired ATCS Inc., a global IT consulting firm founded by Manish. ATCS provides digital and analytic solutions to Fortune 500 clients across pharmaceuticals, healthcare, finance, and automotive industries.
Oct 03, 2024, 10:19 am IST
Hi tech Steel Pipes Announces Achieving Highest Ever Sales Volume In Q2FY25 & H1FY25
Hi-Tech Pipes Limited a Steel Tubes and Pipes manufacturing company in India, announced impressive sales volume results for the second quarter and first half of the fiscal year 2025, ending September 30, 2024. The company reported sales volumes of 123,027 MT for Q2 FY25, representing a remarkable 22.50% year-on-year (YoY) growth. For the first half of FY25, sales volumes reached to 245,182 MT, reflecting an outstanding 32.55% YoY increase. This growth is primarily driven by a surge in demand across key sectors, including infrastructure, water transportation, and solar energy. Despite the challenges posed by the monsoon season, Hi-Tech has successfully capitalized on opportunities arising from increased government spending in critical Infrastructure projects and Private Investment in renewable energy projects.
Oct 03, 2024, 10:06 am IST
Gensol Engineering Limited records revenue of INR 314 Crores in Q2 FY25
Gensol Engineering Limited, a player in the renewable energy sector specializing in solar power engineering, procurement, and construction (EPC) services, and electric mobility solutions, recorded revenue from operations, surpassing INR 314 Crores (provisional and unaudited) in Q2 FY 25 ending on 30th September, 2024 (Q2 FY25). This remarkable achievement represents a growth rate of 58% compared to the quarter two of the previous financial year. The corresponding figure for the previous year (Q2 FY24) was at INR 199 Crores. Gensol's performance emphasises its position as a frontrunner in the industry, demonstrating its ability to capitalise on emerging opportunities and deliver value to its stakeholders.
Oct 03, 2024, 9:48 am IST
Bharat Forge Share
Bharat Forge share price surged by 1% after the company's Class-8 truck orders in North America rose to a 10-month high.
Oct 03, 2024, 9:29 am IST
Sensex, Nifty Trading Lower By 1%
Indian market opened on a sharp bearish note on Thursday, with Sensex diving by over 1,264 points. While Nifty dipped by more than 345 points. Except JSW Steel and marginal surge in Tata Steel, all stocks were in red on Sensex. Stocks like M&M, Tata Motors, Asian Paint, ICICI Bank, Hindustan Unilever, and Reliance Industries slipped by 1.5% to 3%. Check Out The Latest Price Of Sensex, Nifty:
Oct 03, 2024, 9:24 am IST
Stock Market Opening Bell
Sensex opened at the intraday low of 83,002.09, and nosediving by over 1,264 points. While Nifty opened at 25,452.85, and tumbled by over 345 points to hit an intraday low of 25,451.60.
Oct 03, 2024, 9:15 am IST
Rupee Vs Dollar Amid Israel-Iran Conflict
The Indian rupee traded at 83.92 against the US dollar at the interbank forex market, as the conflict between Israel and Iran escalated. The equity market witnessed volatility as uncertainties in the Middle East dampened investors sentiment, while strengthening dollar against basket of currencies. Foreign funds outflow also influenced market mood.
Oct 03, 2024, 8:54 am IST
Top Picks On October 3, When To BUY?
Prashanth Tapse, Senior VP (Research), Mehta Equities said: Market volatility remains high, but much depends on the US non-farm payroll data due on Friday. Chinese markets have shown resilience, with the Hang Seng rallying 6.2% to close at its highest since February 2023. Nifty (CMP: 25797) shows strength only above 26051, with key support at 25351. Preferred trades include buying Nifty on dips and selling Bank Nifty. Top stock pick: Buy Deepak Nitrite for an interweek trade.
Oct 03, 2024, 8:53 am IST
KRN Heat Exchanger IPO Listing
The leading manufacturer and exporter specializing in aluminium / copper fins and copper tubes heat exchangers, KRN Heat Exchanger is set to list on October 3, 2024. The latest grey market premium (GMP) signals a triple-digit percentage listing on BSE and NSE.
Oct 03, 2024, 8:20 am IST
Stocks To BUY Today
Shiju Koothupalakkal - Technical Analyst at Prabhudas Lilladher recommends buying three stocks on October 3. These are - BUY SYNGENE cmp 909 Stop Loss 888 Target 960; BUY GRANULES cmp 579 Stop Loss 565 Target 610; BUY MHRIL cmp 398 Stop Loss 389 Target 422
Oct 03, 2024, 8:20 am IST
Nifty, Bank Nifty Support Today
Shiju Koothupalakkal - Technical Analyst at Prabhudas Lilladher expects Nifty 50 to find support at 25,650, and resistance is seen around 26,000. While Bank Nifty is expected to find support and resistance around 52,600 and 53,400 levels.
Oct 03, 2024, 8:18 am IST
Market To Open After 1-Day Holiday
Indian stock market will open after a 1-day holiday due to Gandhi Jayanti. In the previous session, on October 1, the Sensex ended the day down by 33 points, closing at 84,266, while the Nifty dipped by 14 points, settling at 25,797.
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