Stock Market Today: Nifty 50, Sensex end lower; elevated dollar, US treasury yields weigh on sentiment
BSE Midcap index rose 0.10 per cent while the Smallcap index ended with a nominal loss of 0.01 per cent. Also Read: Mid, smallcap valuations stretched: Ashoka Buildcon, Colgate Palmolive, smaller IT stocks top bets Also Read: Excitement and worry as stock options trading booms in India Shares of Coal India (up 5.26 per cent), Eicher Motors (up 1.69 per cent) and Hindalco (up 1.11 per cent) ended as the top gainers in the Nifty 50 index. Also Read: Coal India share price hits 52-week high as brokerages raise target price on strong Q2 results Shares of SBI Life Insurance Company (down 2.26 per cent), Bajaj Finance (down 1.25 per cent) and Grasim Industries (down 1.24 per cent) closed as the top losers in the Nifty 50 index.
36 stocks ended in the red in the Nifty 50 index while 13 ended higher. One stock - State Bank of India - ended flat. Most sectoral indices ended in the red.
Nifty Consumer Durables (down 0.81 per cent) and IT (down 0.73 per cent) closed with significant losses. On the other hand, Nifty PSU Bank witnessed strong gains of 2.64 per cent. Apart from this, only Nifty Metal (up 0.37 per cent) ended higher.
"Post-Diwali, Indian equities continued consolidation amid global uncertainty. The sharp deceleration in IIP growth, from 10.3 per cent in August to 5.8 per cent in September, and weakening Manufacturing PMI reflect global trends driven by rising interest rates and inflation," said Vinod Nair, Head of Research at Geojit Financial Services. "The Indian Rupee's weakness keeps FIIs cautious.
However, the market's downside is limited by strong earnings, economic stability, and domestic institutional flows. A potential reversal is likely, as domestic October CPI inflation is expected to moderate. Notably,
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