Stock market today: Benchmark equity indices of the Indian stock market — Sensex and Nifty — tumbled for the second day in a row on Friday, October 31. Despite this, the indices clocked their best monthly gains in seven months since March.
Sensex fell 465.75 points or 0.55% to end at 83,938.71, while the Nifty 50 closed the session at 25,722, down 155.75 points or 0.60%. A cautious global sentiment and profit-taking amid mixed earnings drove the indices lower. For the month, the 30-pack Sensex gained 4.6% while its NSE counterpart, Nifty 50, rose 4.5%.
The broader markets witnessed a decline, as the BSE Midcap index tumbled 0.55% and the BSE Smallcap index lost 0.40%.
10 key highlights from Indian stock market
Here are 10 key highlights from the Indian stock market:
1. What drove Indian stock market lower?
Vinod Nair, Head of Research, Geojit Investments, said Indian equities ended decisively lower after a volatile session, as investors booked profits amid mixed corporate earnings and cautious global sentiment in the backdrop of a strong greenback.
Most sectors closed in the red, pressured by renewed FII selling, which has turned cautious after Powell’s hawkish statement and US-China trade development did not meet expectations, added the expert.
“After a strong rally, the markets are in a profit booking mode as a large part of the economic developments are factored in. Buy on dips is expected to stay as a trading strategy as optimism remains solid on a QoQ basis,” he said.
2. Top Nifty 50 gainers today
Only nine Nifty 50 stocks closed in the green. BEL emerged as the best performer, rising 3.98% following a solid Q2 results announcement. The company posted an 18% YoY rise in profit while the revenue jumped 25.75% during the July-September period.
3. Top Nifty 50 losers today
Among the 41 stocks from the Nifty 50 pack that closed lower, Eternal was the worst loser, as it shed 3.45%. It was followed by NTPC, Cipla and Max Health, which lost nearly 2.5% each.
4. Most active stocks
Vodafone Idea remained the most active stock in volume terms, as 77.95 crore shares of the company changed hands. YES Bank (21.08 crore), Sagility (20 crore), Suzlon Energy (10.80 crore) and IDFC First Bank (9.56 crore) were among other stocks that saw huge volumes.
5. Four stocks end 20% higher
Despite stock market weakness, four stocks ended 20% higher. Fineotex Chemical, part of Ashish Kacholia’s portfolio, surged 20% following record date for the stock split and bonus issue. Mufin Green Finance, Lancor Holdings and Eurotex Industries and Exports also surged a whopping 20% in trade today.
6. 20 stocks shed over 5%
Bandhan Bank, Nelcast, Restaurant Brands Asia and Apar Industries were among the top stocks that shed over 5% in trade today and appeared as the top losers on the NSE.
7. 73 stocks hit 52-week highs
Seventy-three stocks hit 52-week highs in trade today. Bank of Baroda, BPCL, Canara Bank, Inox Green, MTAR Technologies, Polycab, RBL Bank and SBI Life were among the top stocks that touched their one-year highs.
8. 49 stocks at 52-week lows today
On NSE, 49 stocks plunged to their 52-week lows in intraday deals. Some of the prominent names included Deepak Nitrite, Rolex Rings, Tejas Networks, Route Mobile and Zee Media.
9. Advance-decline ratio
The advance-decline ratio favoured buyers, as 1266 stocks advanced on the NSE and 1805 stocks declined, while 109 were unchanged.
10. Nifty 50 technical outlook
Rupak De, Senior Technical Analyst at LKP Securities, said Nifty remained weak throughout the day as the index failed to sustain above 25,950. “On the lower end, the support at 25,800 was broken, setting a bearish tone. In the short term, the trend is likely to remain weak with the potential to decline towards 25,525. On the higher end, resistance is placed at 25,850, above which the trend may turn positive,” he added.
Disclaimer: This story is for educational purposes only. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.
