Stock market opens lower on Monday, September 9, following global trends. Both SENSEX and NIFTY50 saw early declines as investor sentiment was dampened by concerns over the US jobs report, which highlighted a labour market slowdown and raised questions about upcoming Federal Reserve interest rate cuts.
At 09:18 AM, the S&P BSE Sensex dropped 183.60 points, or 0.23%, to 81,000.33, while the NIFTY50 fell 62.25 points, or 0.25%, to 24,789.90. The market breadth favoured bears, with 1,924 stocks declining, 1,065 advancing, and 175 unchanged on the BSE.
Sectorally, oil & gas, metals, and energy stocks were among the top losers. Tata Steel led the decline on the SENSEX, slipping 1.5%, followed by Adani Ports and Power Grid. Meanwhile, Hindustan Unilever was up 1%, Bajaj Finserv, and ITC emerged as top gainers on the index.
In the broader markets, the BSE MidCap index fell 1.08% to 47,981.90, and the BSE SmallCap index took a deeper cut, sliding 1.63% to 55,064.84. The broader market reflected weaker investor sentiment, with a larger portion of stocks declining in early trading.
SpiceJet shares surged nearly 5% to ₹64.40 amid reports of promoter Ajay Singh planning to offload a significant stake. Additionally, the airline announced a term sheet with Carlyle Aviation to restructure $137.68 million in aircraft lease obligations. Meanwhile, Ola Electric saw a dip of over 2.5% as its one-month share lock-in period ended.
