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Stock Market Today: Nifty Dips 14 Pts & Sensex Drops 33 Pts

On October 1, 2024, the Sensex and Nifty closed marginally lower, with a flat market performance due to mixed global signals. Major contributors to the minor dip were IndusInd Bank, ONGC, and Asian Paints.
  • Nifty         25,796 [-13.95] 0.05
  • Sensex    84,266 [-33.49] 0.04

Stock Market Today: On October 1, 2024, the Sensex closed at 84,266, down 0.04%, while the Nifty ended at 25,796, losing 0.05%. Sectors like banking and energy dragged the indices, but IT and auto stocks provided some support.

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Reasons for Sideways Market

  • Investors faced mixed signals from global markets, including remarks from Federal Reserve Chair Jerome Powell, which dampened expectations of aggressive interest rate cuts. This uncertainty led to cautious trading.
  • After a recent rally, investors took profits in sectors such as energy and infrastructure, leading to selling pressure that offset gains in tech and auto stocks.
  • Global events such as tensions in the Middle East and concerns about the Chinese economy shifting funds impacted market sentiment, keeping trading subdued.

Top Losers Today

Nifty 

IndusInd Bank:  – 2.66

ONGC:  – 1.75

Asian Paint:  – 1.63

Sensex

IndusInd Bank:  – 2.68

Asian Paint:  – 1.54

HUL:  – 1.27

Sectors of the Day 

Nifty Oil & Gas:  – 0.67

Nifty Realty:  – 0.20

Nifty Financial Services:  – 0.13

Also Read: Stock Market Holidays in October 2024 – Plan Ahead for 9 Days Off – Check the Details!

IPO Performance

  • TechEra Engineering Limited IPO shares are expected to be listed on the NSE SME platform around October 03, 2024.
  • KRN Heat Exchanger and Refrigeration Limited IPO shares are expected to be listed on the NSE SME platform around October 03, 2024.
  • Unilex Colours and Chemicals Limited IPO shares are expected to be listed on the NSE SME platform around October 03, 2024.
  • Thinking Hats Entertainment Solutions Limited IPO shares are expected to be listed on the NSE SME platform around October 03, 2024.

Key Events to Track For 3rd 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.
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