Sebi F&O, Iran-Israel war: Why did the Sensex fall more than 1,800 points on Thursday?Today’s stock market: Sensex declines as over 180 equities reach one-year highs; investors make ₹3 lakh crore in a single day.
Current state of the stock market: On the BSE, some 184 equities, including Infosys and Cipla, hit one-year highs. But because of profit-booking in large firms like Reliance Industries and HDFC Bank, the Sensex ended the day down.
In intraday trade on the BSE on Wednesday, October 9, up to 184 stocks—including Infosys, Divi’s Labs, Cipla, Naukri, and Trent—reached new one-year highs. Meanwhile, the equity benchmark Sensex ended lower due to profit booking in a few heavyweights, including Reliance Industries, ITC, and HDFC Bank.
During the day, many stocks reached 52-week highs, including Bosch, Coforge, Dixon Technologies, Ipca Laboratories, Page Industries, Polycab India, Torrent Pharma, and Torrent Power.
In the meantime, the session’s gains were completely erased as the benchmarks of the Indian stock market, the Sensex and the Nifty 50, finished down. Following the Reserve Bank of India’s decision to modify its policy but keep the repo rate at its current level, both indexes saw gains of about one percent throughout the trading session.
The central bank modified its policy stance from “withdrawal of accommodation” to “neutral,” while keeping the repo rate at 6.50 percent.The Nifty 50 finished at 24,981.95, down 31 points, or 0.12%, from the closing Sensex, which closed at 81,467.10, down 168 points, or 0.21 percent. 15 companies finished lower in the 30-share pack Sensex, with the major losers being shares of ITC, Nestle, and Hindustan Unilever.
In the end, the mid and smallcap groups had strong increases, despite the decline in the benchmark index. While the Smallcap index increased by 1.21 percent, the BSE Midcap index increased by 1.06 percent.
The total market capitalization of the companies listed on the BSE increased to around ₹462.2 lakh crore from ₹459.5 lakh crore in the previous session, thanks to advances in the mid- and small-cap categories. This resulted in an approximate ₹2.7 lakh crore gain for investors in a single session.
The head of research at Geojit Financial Services, Vinod Nair, claims that an increase in Q3FY25 inflation confirms the RBI’s continued worry over sticky inflation, which has caused investors to book profits toward the end of the market.
“A rate drop in the near future is not indicated by the commentary, despite the positive and anticipated shift in the RBI’s position to neutral. The general market’s ability to profit stock by stock from the recent collapse has lifted investor confidence, according to Nair.
Head of equities research at Kotak Securities, Shrikant Chouhan, feels that level-based trading is the best approach for day traders because of the present market’s volatility.
The 50-day SMA (simple moving average), or 25,050/81,700, would be the crucial mark to watch out for for the bulls right now. The market may retest the levels of 25,200–25,225/82,000–82,300 above this. Conversely, 24,900/81,200 would be the traders’ primary support area. Below this, the market may decline to 24,800–24,780/81,000–80,700 as the selling pressure picks up speed, according to Chouhan.
Disclaimer: The above article is for educational and news purposes, this is not a buying or selling recommendation. TraderPulse recommends that users to check with certified experts before making any investment decisions.
