Stock Market Today: Nifty, Sensex, Nifty Bank Extend Losing Streak To Sixth Day

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Stock Market Update: US Futures Decline

The December futures of Dow Jones was at 42,463.00 as of 3:27 p.m., down 183.00 points or 0.43%, those of

S&P 500 were at 5,770.2, 29.75 points or 0.51% lower, and Nasdaq 100 December futures were at 20,094.50, lower by 132.7 points or 0.66%.

Economic Data Releases And Events For Oct 7 And Oct 8

• Germany: Deutsche Bundesbank President Joachim Nagel is due to speak in Frankfurt — 8:00 p.m. IST

• Europe: Eurogroup meeting

• US: Federal Reserve Governor Michelle Bowman will speak at the Independent Bankers Association of Texas Annual Convention, in San Antonio — 10:30 p.m. IST

• US: Federal Reserve Bank of Minneapolis President Neel Kashkari will participate in a fireside chat about the economy, bank regulation, and M&A trends at the Bank Holding Company Association Fall Seminar — 11:20 p.m. IST

• US: Consumer Credit — 12:30 a.m. IST

• US: Federal Reserve Bank of St. Louis President Alberto Musalem will speak at the Money Marketeers of New York University — 4:00 a.m. IST

• Australia: Wespac Consumer Sentiment — 5:00 a.m. IST

• Japan: Household Spending — 5:00 a.m. IST

• Japan: Average Cash Earnings — 5:00 a.m. IST

• Japan: Current Account Deficit — 5:20 a.m. IST

• Australia: RBA Monetary Policy Meeting Minutes — 6:00 a.m. IST

• Australia: National Australia Bank Business Confidence — 6:00 a.m. IST

• Australia: RBA Deputy Governor Andrew Hauser will speak at the Walkley Foundation in Sydney — 6:30 a.m. IST

• Germany: German Industrial Production — 11:30 a.m. IST

• France: French trade balance — 12:15 p.m.

• US: Federal Reserve Governor Adriana Kugler will speak at the ECB Conference on Monetary Policy, in Frankfurt — 12:30 p.m. IST

Nifty, Sensex Close At Nearly One–Month Lows As HDFC Bank, RIL Share Prices Drag

The NSE Nifty 50 and BSE Sensex ended over one–month low on Monday as HDFC Bank Ltd., Axis Bank Ltd. declined. The benchmarks also declined for six days in a row and shed over 5%. It's the worst six–day decline since March 2022.

The Nifty 50 ended 218.85 points or 0.87% lower at 24,795.75, and the Sensex closed 638.45 points or 0.78% lower at 81,050.00.

During the session, Nifty 50 declined 1.82% to 24,694.35 and the Sensex declined 1.75% to 80,726.00, marking their lowest level since Aug 21. The Nifty 50 index dipped below support level of 24,750.

The Nifty Bank ended 1.91% lower at 50,478t.90, the lowest closing level since Aug 19. The index also declined 3.17% to 50,194.30, the lowest level since Aug 16. The index ended

"In the series of bearish candles, Nifty 50 added one more red candle to the daily chart and formed a Three Black Crows pattern. Only in the case of a strong sustainable move above 25,000, trend reversal be confirmed till then markets are likely to remain in the grip of bears with the next support being placed at 24,400," said Aditya Gaggar, director, Progressive Shares.

HDFC Bank Ltd., Reliance Industries Ltd., Nestle India ltd., Axis Bank Ltd., and State Bank of India were the top draggers in the Nifty 50 index.

Infosys Ltd., Bharti Airtel Ltd., Mahindra & Mahindra Ltd., Trent Ltd., and Tata Consultancy Services Ltd. limited gains in the index.

On NSE, 11 sectors ended lower and one higher out of 12. The NSE Nifty Media was the worst performing sector, and the NSE Nifty IT was the top performing sector.

Broader indices underperformed. BSE Midcap closed 1.85% lower and BSE Smallcap was 3.3% down at close.

All sectoral indices closed lower on the BSE except BSE IT and BSE Teck.

Market breadth was skewed in the favour of sellers. As many as 3,416 stocks fell, 643 rose, and 119 remained unchanged on the BSE.

Rupee Ends Flat Against US Dollar

Rupee closed flat at 83.98 against the US dollar. It closed at 83.97 on Friday, according to data on Bloomberg.

Market At Close

• The NSE Nifty 50 and BSE Sensex recorded their worst six–day fall since March, 2022.

• The Nifty 50 and Sensex declined to their lowest levels in over one month.

• HDFC Bank Ltd., and Reliance Industries Ltd. share prices were top loser in the Nifty 50 index.

• Infosys Ltd., and Bharti Airtel Ltd. were the top gainer in the index.

• The NSE Nifty IT was the only sector to end on a positive note. The sectoral index is also the top performer.

• The NSE Nifty Media declined the most among sectoral indices.

Watch India Market Close At NDTV Profit

Nifty, Sensex Off Day's Low As Infosys, Bharti Airtel Lead Gains: Midday Market Update

Benchmark equity indices of India were off their respective lows of the day as shares of Infosys and Bharti Airtel rose. However, indices were trading lower as losses in banks weighed on them. They had opened higher tracking global markets after US jobs data, but gave up gains in early trade.

At 12:23 p.m., the Nifty was at 24,940.65, down 0.30% or 73.95 points and Sensex was at 81,548.34, down 0.17%, or 140.11 points. India VIX was trading 6% higher at 14.96 level.

Kush Bohra, founder of Kushbohra.com expects today's session to be a day of consolidation but he said technical hourly charts are suggesting positive divergence and a rebound in near-term. "In terms of put-call ratio, Bank Nifty and Nifty are going to oversold territory also suggesting rebound," he said.

Bohra said if the Nifty trades above 24,700-24,800 support zone, he expects a rebound otherwise markets will see a downtrend.

Shares of HDFC Bank Ltd., Axis Bank Ltd., Larsen & Toubro Ltd., Titan Co. Ltd., and Power Grid Corp. Of India Ltd. kept the Nifty lower.

While those of Infosys Ltd., Bharti Airtel Ltd., ICICI Bank Ltd., ITC Ltd., and Bajaj Finance Ltd. helped Nifty pare losses.

HDFC Bank’s Slower Loan Growth Could Be A Risk To Estimates, Say Analysts Ahead Of Q2 Results

All sectoral indices were trading lower except Nifty IT. Nifty PSU Bank fell the most.

Foreign Investors Flock To Financial Services, Fuelling $3.2-Billion Inflow In September

Broader indices underperformed, with BSE Midcap trading 1.5% lower and BSE Smallcap 2.5% lower.

Except BSE IT and BSE Teck, all sectoral indices fell. BSE Utilities fell most.

Market breadth was skewed in the favour of sellers. As many as 3,319 stocks fell, 621 rose, and 125 remained unchanged on the BSE.

Stock Market Today: Nifty, Sensex, Nifty Bank Extend Losing Streak To Sixth Day

Nifty, Sensex, Nifty Bank Hit One-Month Lows As HDFC Bank Drags: Share Market Update

India's benchmark equity indices including Nifty and Sensex hit lows of 24,694.35 points and 80,726.06 points, their lowest levels since August 21 as shares of HDFC Bank pulled them lower.

HDFC Bank share price was also top dragger of Nifty Bank, which also hit its one-month low of 50,194.30, its lowest level since August 16.

European Market Update: Most Markets Erase Gains Ahead Of Retail Sales Data

Most markets in Europe erased opening gains as market participants shift their focus to retail sales number for September month. The Euro Stoxx was trading 0.21% lower at 517.41, and the FTSE 100 was trading 0.12% lower at 8,271.23 as of 2:28 p.m.

Railway Stocks: Railtel & RVNL Share Prices Fall The Most

Railway stocks from Railtel Corp. to Rail Vikas Nigam Ltd. plunged in trade on Monday while the benchmark indices extended their decline.

Shares of Railtel fell over 8%, while RVNL and Texmaco Rail & Engineering Ltd. slipped over 7%. Stocks of other railways stocks—both public and private—were down in trade.

The benchmark NSE Nifty 50 and BSE Sensex were down 1.17% and 1.03%, respectively, on Monday.

Most Railway Stocks Decline

Business Update Q2FY25: Rama Steel Tubes (YoY)

• Sales Volume at 50,922 tonnes vs 35,780 tonnes

• Quarterly Volume rose 42.3%

Source: Exchange filing from Rama Steel Ltd.

Federal Bank Share Price Down Nearly 4% After Q2 Business Update

Federal Bank share price fell nearly 4% on Monday after the private lender released its provisional Q2 updates and Morgan Stanley assigned an 'underweight' rating to the stock.

Stock Market Live: Vodafone Idea Share Price Declines To Over One–Year Low

Vodafone Idea Ltd. share price declined 9.09% to Rs 8.90, the lowest level since Aug 30. The fall came after news reports said that the Department of Telecommunication issued notice to the company for not submitting bank guarantees for past spectrum allocation.

Stock Market Live: Nestle India's CMD To Retire In July 2025

• Suresh Narayanan will retire as CMD with effect from July 31, 2025.

• Nestle India Ltd. got nomination from Nestle SA to Appoint Manish Tiwary as managing director effective August 1, 2025.

Source: Exchange filing from Nestle India

Stock Market Live: Gensol Engineering Appoints New CFO

Gensol Engineering Ltd.'s Ankit Jain replaced Jabir Mahendi Aga as Chief Financial Officer effective today, it said in an exchange filing.

Wockhardt Gets Fast Track Designation By US FDA

Wockhardt Ltd. received fast track designation by the US Food Drug Administration for WCK 6777 with unique Out-Patient Treatment advantage. WCK 6777 Completes Phase I Study Conducted By National Institutes Of Health, US.

Source: Exchange filing

Stock Market Live: Sectoral Indices Reverse Early Gains

All 12 sectors erased early gains in over two hours in to Monday's session. The NSE Nifty Media witnessed the steepest fall, while the NSE Nifty IT was trading with least gain.

ITC Share Price Snaps Five-Day Decline

ITC Ltd. share price rose as much as 2.26% to Rs 522.70 on Monday. The share price rose 1.31% higher at Rs 510.15 as of 11:09 a.m., as compared to 0.51% decline in the NSE Nifty 50 index.

With Monday's gain, ITC broke from its five-day declining streak. The stock had been declining since Sept 27.

Stock Market Live: P N Gadgil Jewellers Share Price Declines Nearly 8%

P.N. Gadgil Jewellers Ltd. share price declined 7.64% to Rs 699.00. The stock was trading 6.98% lower at Rs 704.00 as of 11:01 a.m., as compared to 0.50% decline in the NSE Nifty 50 index.

Stock Market Live: Ola Electric Mobility Share Price Slumps To Record Low

Ola Electric Mobility share price declined 8.87% to Rs 90.26 apiece, the lowest level since Aug 9 when it was listed on the bourses. The stock was trading 8.43% down at Rs 90.70 apiece as of 10:46 a.m.

Ola Electric Share Price Hits Lifetime Low Amid Ongoing Service Issues And Decline In Market Share

Business Update Q2: Bank Of India (YoY)

• Global Business rose 12% at Rs 12.5 Lakh Crore

• Global Deposits rose 10.2% at Rs 7.03 Lakh Crore

• Global Gross Advances rose 14.4% at Rs 5.43 Lakh Crore

• Domestic Deposits rose 12.3% to Rs 5.98 Lakh Crore

• Domestic Advances rose 14.9% to Rs 4.53 Lakh Crore

Source: Exchange filing

Stock Market Live: Macrotech Developers Share Price Rises Over 4%

Macrotech Developers Ltd., commonly known as Lodha, rose 4.16% to Rs 1,222.00. The stock rose as Lodha reported 21% rise in sale bookings in July–Sept. Its sales bookings rose to Rs 4,290. Its customer collection rose 11% during the quarter.

Macrotech Developers share price was trading 3.20% higher at Rs 1,210.75 as of 10:21 a.m.

Macrotech Developers Gets Positive Outlook From Brokerages On Strong 2QFY25 Performance

Hitachi Energy Plans To Invest Rs 2,000 Crore

Hitachi Energy India Ltd. planed to invest Rs 2,000 crore in expanding capacity, portfolio, and talent base, to drive sustainable energy future in India, it said in an exchange Filing.

Eraaya Lifespace's Arm Ebix Cash Secures Contract Worth Rs 138.8 Crore

Eraaya Lifespaces Ltd.'s arm Ebix Cash secured major contract worth Rs 138.8 crore with Punjab National Bank for Network Integrating Services, said in an exchange Filing.

Stock Market Live: Titan Share Price Declines To Over One-Month Low

Titan Co. Ltd. share price declined 2.98% to Rs 3,578.00, the lowest level since Sep 3. The stock has been declining since Oct 1. It was trading 2.54% down at Rs 3,576.95 as of 10:02 a.m., as compared to 0.11% advance in the NSE Nifty 50 index.

The stock failed to arrest its fall despite its positive business update for the July–Sept quarter.

Titan Share Price Erases Gains, Macquarie Maintains ‘Outperform’ After Q2 GrowthTitan Q2 Updates: Revenue Rises 25%, Adds 75 New Stores

Stock Market Live: HeidelBergCement Share Price Jumps To Nearly Three-Year High

HeidelbergCement India Ltd. share price jumped 17.93% to Rs 258, the highest level since Oct 19, 2021. The share price jumped after news report said that the Adani Group Companies is likely in talks to acquire the company.

The share price was trading 16.35% higher at Rs 254.35 as of 09:48 a.m., as compared to 0.09% advance in the NSE Nifty 50 index.

Stock Market Live: NBCC Share Price Snaps Two-Day Decline As It Turns Ex–Bonus

NBCC (India) Ltd. share price snapped a two-day decline on Monday as it turned ex–bonus. The board of the company approved to issue bonus shares in a 1:2 ratio, meaning shareholders will one-fully paid-up equity share of Rs 1 for every two existing fully paid–up shares held on record date.

NBCC India Share Price Gains Over 6% As Stock Trades Ex-Bonus

Jio Finance Share Price Rises As SEBI Permits To Set Up Mutual Fund With BlackRock

Jio Financial Services Ltd. share price rose nearly 3% on Monday after the company and BlackRock received the Securities Exchange Board of India's nod to set up proposed Mutual Fund.

The share price rose as much as 2.98% to Rs 348.90 apiece, the highest level since Oct 3. It was trading 1.76% higher at Rs 344.75 apiece as of 09:32 a.m.

Nifty, Sensex Rebound From Five-Day Decline; Infosys, RIL Rise: Opening Bell

The NSE Nifty 50 and BSE Sensex rebounded from five-day decline at open on Monday as Infosys Ltd., and Reliance Industries Ltd. led gains. As of 09:16 a.m., the Nifty 50 was trading 123.10 points or 0.49% higher at 25,137.70, and the Sensex was trading 440.09 points or 0.54% higher at 82,128.54.

The Nifty 50 has witnessed a 4.5% correction in the current week, and we could witness some bounce from the support of 25,000 levels and on the higher side resistance is at 25,500. The first bout of resistance would be at the previous support range of 25,550 followed by 25,800 being the gap levels on the higher side. RSI has closed at the lower band of 40 level, and we have witnessed bounce in the past from these range over the past one year indicating some pullback. Highest call open interest has moved lower to 25,500 strikes while the downside the highest put OI is at 24,800 for the weekly expiry, said Vikas Jain, head, research at Reliance Securities.

Infosys Ltd., ICICI Bank Ltd., Reliance Industries Ltd., Tata Consultancy Services Ltd., and Bharti Airtel Ltd. added to the index.

Nestle India Ltd., Titan Co. Ltd., HDFC Bank Ltd., Hindustan Unilever Ltd., and Oil and Natural Gas Corp Ltd. weighed on the index.

All 12 sectors rose at open with the NSE Nifty IT leading the gain.

Broader markets rose in line with the benchmarks. The BSE Midcap was trading 0.51% higher, and the BSE Smallcap was 0.36% up.

On BSE, 17 sectors advanced, and three declined out of 20. The BSE Realty rose the most, while the BSE Consumer Durables declined the most.

Market breadth was skewed in favour of buyers. Around 1,908 stocks advanced, 1,023 stocks declined, and 173 stocks remained unchanged on the BSE.

Car Inventory Climbs To All-Time High

Car inventory climbs to an all-time high due to aggressive dispatches by carmakers ahead of festive season. Dealers saddled with 7.9 lakh cars worth Rs 79,000 crore

Unsold stock seen at 80-85 days, as on Sept. 31. Ganesh Chaturthi and Onam fails to ignite demand, FADA says

Source: FADA statement

Car Inventory Surges To All-Time High As Retail Sales Slump Nearly 20%

India's Urban Retailer Faces Challenge From Rise Of E-Commerce

India's urban retailers are seeing low footfall at the stores as e-commerce grows a preferable option for consumers. Urban cities are rapidly witnessing rapid distribution channel shifts in favour of online, led by quick commerce. Read more here

Stock Market Live: Nifty, Sensex Higher At Pre–Open

The NSE Nifty 50 was trading 69.50 points or 0.28% higher at 25,084.10, and the BSE Sensex was trading 808.65 points or 0.98% higher at 81,688.45.

Yield On The 10-Year Bond Opens Flat

The yield on the 10-year bond opened flat at 6.84%. It closed at 6.83% on Friday.

Source: Bloomberg

Rupee Opens Flat Against US Dollar

Rupee opened flat at 83.96 against the US dollar. It closed at 83.97 on Friday.

Source: Bloomberg

Watch India Market Open At NDTV Profit

Mylan Pharma & Novo Nordisk Reaches Settlement, Says Natco Pharma

• Mylan Pharma and Novo Nordisk Reach Settlement On Ozempic Patent

• Terms Of Settlement Are Confidential

Source: Exchange filing from Natco Pharma Ltd.

Brokerages On Kaynes Tech

Jefferies

• Retain Hold with a target price Rs 4,540, which implied a downside of 13%.

• The company set to acquire Iskraemeco India, a smart meter solution provider

• Iskraemeco had FY24 Revenues of 65 crores up 63% yoy

• Iskraemeco has smart meter for electricity, water and gas, increasing Kaynes' reach

• Kaynes' present order book stands at 35 lakh meters

• Industry opportunity of 11 crore smart meters

• Estimate 48% EPS CAGR between FY24-27

• Maintain Hold on Valuations at 73x FY26 P/E

Nomura

• Retain Buy with a target price Rs 5,969, which implied an upside of 14%

• The company inks pact to acquire 100% stake in Iskraemeco India for total sale consideration of Rs. 42 crore

• Iskraemeco are present across Middle East and Europe

• The company aims to generate 10% of consolidated FY25 revenue from smart meters

• Scale up to 15% of revenues later

Nomura On HDFC Bank

• Maintain neutral with a target price Rs 1,720 which implied a 3.6% upside.

• Clocked healthy deposit growth at 5% QoQ

• Loan to deposit ratio down 400bps QoQ

• RoE improvement will be a gradual process

• RoE improvement to come at the cost of loan growth

• Outlook for loan growth over the medium term should stay soft

CLSA On India Microfinance

• Industry collection efficiency weakened given onset of new guardrails

• Asset quality sees deterioration on sequential basis

• UP, Odisha, Gujarat, Jharkhand and Rajasthan reported >50bps deterioration

• MFI customer's retail loans reported 32% Cagr over 1.5 years

• Personal loan category more than doubled over past 1.5 years

• 50% of loans are for gold, housing and agriculture

Stock Market Live: Varun Beverages, IRB Infra To Consider Fundraise

• Varun Beverages Ltd.'s board will consider fundraise on Oct 9 via qualified institutional placement.

• IRB Infrastructure Developers Ltd. will consider fundraise on Oct 9 via QIP.

Source: Exchange filings

Stock Market Live: Macquarie Keeps 'Outperform' On Titan Shares

• Macquarie's price target Rs 4,100 implied 11% Upside from Friday's close.

• Pre-Q2 sales beat estimates led by 26% growth in jewellery, which implied 20% in watches

• The Q2 standalone Ebitda growth expected at 9%

• Build 25% sales growth, 180 basis point jewellery margin decline on weaker product mix

Titan Q2 Updates: Revenue Rises 25%, Adds 75 New Stores

Business Update Q2FY25: Kalyan Jewellers

• India Operations Registered Revenue Growth Of 39% YoY In Q2 FY25

• Registers Same-Store-Sales Growth Of 23% YoY In Q2 FY25

• Digital-First Jewellery Platform Candere Registers Revenue Growth Of ~30% YoY In Q2 FY25

• Registers Consolidated Revenue Growth Of Approximately 37% YoY In Q2 FY25

Source: Exchange Filing

Kalyan Jewellers Q2 Update: Revenue Up 37% On Gold Customs Cuts

Stock Market Live: Gold Price Eases As Strong US Jobs Data Weights On Rate Cut Outlook

Gold prices declined on Monday as after US non-farm payroll data rose more than expected to nearly six-month high, which prompted to investors to reduce their hopes for bigger rate cuts.

The Bloomberg spot gold was trading 0.21% lower at $2,647.98 as of 07:46 a.m.

Stock Market Live: Crude Prices Ease After Posting Week In More Than Year

After posting the best week in more than a year, the prices of crude oil cooled off in early trade Monday. US President Joe Biden discouraged attacks on Tehran's crude oil field after Israel unleashed missile attack at the country for retaliation.

The crude oil was trading 0.46% lower at $77.68 a barrel as of 07:19 a.m.

Tata Steel: Q2FY25 Production and Volumes

• India crude steel production stood at 5.27 million tons

• Deliveries at 5.10 million tons.

• Domestic deliveries up 5% YoY at 4.9 million tons, broadly in line with the production growth

• Crude steel production up 5% YoY on half year basis

• Indian steel capacity to hit 26.6 MTPA on ramp up of Kalinganagar facilities

Note: Figures are provisional

Japan Leads Gain In Asia As US Jobs Data Raises Hope For Soft Landing

Japan's Nikkei 225 was leading the gains in Asia–Pacific with over 2% rise. Markets in Australia and South Korea also rose on tailwinds from Friday's rally on Wall Street as health of US economy improved sentiment.

Market participants in the region await interest rate decisions from the Bank of Korea, Reserve Bank of New Zealand, and Reserve Bank of India this week.

The Nikkei 225 was trading 2.06% higher at 39,436.94 as of 06:58 a.m. The KOSPI and S&P ASX 200 were 0.74% and 0.40% higher, respectively as of 06:59 a.m.

Asian Stocks Advance As US Jobs Data Spurs Soft Landing Hopes

Stock Market Live: US Stocks Close Higher Friday On Strong Jobs Report

US stocks closed higher Friday after data showed that the world's largest economy added most jobs in six months, Bloomberg reported. The US non-farm payroll, which indicates new jobs growth, increased to 254,000 in September, against 154,000 estimates by analysts. The unemployment rate declined to 4.1%.

The S&P 500 and Dow Jones Industrial Average ended 0.81% and 0.90% higher, respectively. The Nasdaq Composite ended 1.22% higher.

GIFT Nifty Trades ; BSE, GAIL, Jio Finance, Godrej Properties Share Prices In Focus

The GIFT Nifty was trading near 25,200 in wee hours of Monday trade. BSE Ltd., GAIL (India) Ltd., Jio Financial Services Ltd., and Godrej Properties Ltd. share prices are expected to react because of the news flow over the weekend.

The GIFT Nifty was trading 51 points or 0.20% higher at 25,236.00 as of 06:36 a.m.

"A break below the support level will drag the Index lower to 24,500; while on the flip side, 25,750 can be expected if the resistance gets breached. BankNifty is replicating Nifty 50 with the addition of an inverted hammer candle and a convincing close above 52,400 will confirm a bullish pattern; while 51,150-51,350 will act as a support zone,” said Aditya Gaggar, director, Progressive Shares.

On Friday, the Nifty 50 and Sensex recorded their worst week in over two years as worsening geopolitical situation in the West Asia spooked investors. The benchmarks declined more than 4%, the biggest intraday fall since June 13, 2022.

The Nifty 50 closed 0.79%, or 200.25 points, lower at 25049.85, and the Sensex fell 0.98%, or 808.65 points, to close at 81688.45.

Nifty, Sensex Record Worst Week In Over Two Years: Market Wrap. Read more on Markets by NDTV Profit.