- Nifty 24,795 [-218.85] 0.87
- Sensex 81,050 [-638.45] 0.78
Stock Market Today: The Sensex closed at 81,050, down by 0.78%, while the Nifty ended at 24,795, losing 0.87%, amid fears stemming from the Middle East conflict and concerns over global economic stability.
Reasons for Market Downturn
- The escalating Iran-Israel conflict has increased global uncertainty, raising concerns over potential oil supply disruptions. This tension has impacted investor confidence and driven market volatility.
- Following recent rallies, investors have moved to secure profits, leading to broad-based selling. This trend has compounded losses, especially in the midcap and small-cap segments, which saw sharper declines.
- Massive FPI outflows have significantly weakened market sentiment. Many FPIs are reallocating funds to China, attracted by its undervalued market.
Top Losers Today
Nifty
Adani Ports: – 4.29
BEL: – 3.54
Adani Enterprises: – 3.20
Sensex
NTPC: – 3.50
SBI: – 3.36
PowerGrid Corp: – 2.92
Sectors of the Day
Nifty Media: – 3.65
Nifty PSU Bank: – 3.31
Nifty Oil & Gas: – 2.27
- Adani Ports shares fell due to rising tensions between Iran and Israel, which heightened concerns about potential operational disruptions at the Haifa Port in Israel. This uncertainty has raised fears among investors, leading to a sell-off in the stock.
Also Read: Titan Reports Strong Q2FY25 Performance, Shares Drop 2%
IPO Performance
- Paramount Dye Tec Limited IPO shares are expected to be listed on the NSE SME platform around October 08, 2024.
- Subam Papers Limited IPO shares are expected to be listed on the NSE SME platform around October 08, 2024.
- Garuda Construction and Engineering Limited IPO will be open for bidding from October 8, 2024, to October 10, 2024, with shares priced at ₹92 to ₹95 per share.
Key Events to Track For 8th October 2024
- Monitor international markets for any significant developments or trends that could impact Indian markets.
- Keep an eye on scheduled economic data releases such as GDP figures, industrial production data, or inflation reports, as they can influence market sentiment and direction.
- Track earnings announcements from major companies across sectors, to gauge the health of the corporate sector and anticipate market reactions.
- Stay informed about any policy announcements or decisions by the Indian government, as they can impact market sentiment and specific industries.
- Stay updated on global events as they can affect Indian markets and investor sentiment.
