Markets Decline Marginally, Sensex Ends At 83,368, Nifty Tests 25,500
During early morning trade the Indian markets had an uncertain start on Thursday after yesterday's stock market holiday on account of Guru Nanak Jayanti.
- Indian markets opened with uncertainty, then gained momentum.
- Global markets showed positive momentum in Asian and US trading.
- India and US continue trade agreement discussions amid cautious sentiment.
Dalal Street registered a marginal fall as the Sensex ended at over 83,368, falling more than 90 points and the Nifty closed trade at nearly 25,520 declining more than 78 points at 3 PM, falling for the second day in a row.
On the 30-share BSE Sensex, the top gainers included stocks such as Asian Paints, Reliance, Mahindra & Mahindra, Ultra Cement and TCS. Meanwhile, the laggards included stocks like ITC, HCLTech, Infosys, Sun Pharmaceuticals and Hindustan Unilever.
In the 50-share broader NSE Nifty50, the Nifty Microcap 250 tumbled 1.69 per cent as volatility remained extremely high. Sectorally, the Nifty IT index gained 0.18 per cent and the Nifty Media index declined 2.54 per cent.
During early morning trade the Indian markets had an uncertain start on Thursday after yesterday's stock market holiday on account of Guru Nanak Jayanti.
The BSE Sensex opened the session today above 83,700, climbing close to 250 points, while the NSE Nifty50 crossed 25,600, jumping 36 points, around 9:15 AM.
Global Markets Show Positive Momentum
In Asian trading, South Korea's Kospi, Japan's Nikkei 225, Shanghai's SSE Composite, and Hong Kong's Hang Seng indices moved in positive territory. US markets also ended higher on Wednesday, signalling overall optimism in global equities.
India-US Trade Talks Continue
Meanwhile, Commerce and Industry Minister Piyush Goyal said on Wednesday that India and the US are holding ongoing discussions for the proposed bilateral trade agreement. Despite these talks, investor sentiment in domestic markets remained cautious.
Voltility Grips Markets
Volatility gripped the domestic markets on Thursday as broad-based profit-booking continued despite supportive trends across Asian indices. Persistent foreign institutional investor (FII) outflows further weighed on sentiment, offsetting early optimism triggered by strong US macroeconomic data and the inclusion of four Indian companies in the MSCI Global Standard Index.
“Early optimism from the inclusion of four Indian companies in the MSCI Global Standard Index and strong US macro data was offset by weak domestic PMI readings, indicating softening sentiment,” said Vinod Nair, Head of Research at Geojit Financial Services.
Services Sector Growth Slows to Five-Month Low
India’s services sector growth slowed to its weakest pace in five months in October, as competitive pressures and heavy rainfall across parts of the country tempered business activity.
According to a monthly survey released on Thursday, the seasonally adjusted HSBC India Services PMI Business Activity Index fell to 58.9 in October from 60.9 in September, marking the slowest rate of expansion since May.
PMI Data Signals Easing Momentum
In Purchasing Managers’ Index (PMI) terminology, a reading above 50 indicates expansion, while a score below 50 signals contraction. Although still in growth territory, the decline in the index reflects a moderation in business momentum as companies grapple with rising competition and weather-related disruptions.
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