Sensex Today Falls 400 Points | Power & Realty Stocks Dip | Bajaj Finance & NTPC Top Losers

Fri, 4 Oct 10:30 am

   Previous Close   

   Pre-Open   

   12:30 pm   

   Closing   

US stock market's main indexes were mixed on Thursday following data that indicated robust service activity in the world's largest economy, as cautious investors monitored the situation in the Middle East.

The benchmark S&P 500 index reduced its losses after the Institute for Supply Management's survey revealed that service sector activity, which accounts for a significant portion of the US economy, reached 54.9 in September, exceeding the estimated 51.7.

European share markets also fell yesterday as investors remained cautious amid heightened geopolitical tensions in the Middle East, with most sectors experiencing declines except for energy giants.

Back home, Indian share markets are trading on a negative note following the trend on GIFT Nifty.

The GIFT Nifty was trading lower by 41 points, signalling that Dalal Street was headed for negative start.

At present, the BSE Sensex is trading lower by 370 points, while the NSE Nifty is trading around 25,130 levels, down 116 points.

ONGC and SBI Life are among the top gainers today.

BPCL and Bajaj Finance, on the other hand, are among the top losers today.

Broader markets are trading with deep cuts today. The BSE Mid Cap index fell 1.6% while the BSE Small Cap index slumped 1.8%.

Barring IT, all sectoral indices are trading in red with stocks in the realty sector, energy sector and power sector witnessing most of the selling.

Shares of BF Utilities, Kitex Garments, and ITD Cementation hit their 52-week high today.

The rupee is trading at Rs 83.92 against the US dollar.

In commodity markets, gold prices are trading at Rs 75,519 per 10 grams today.

Speaking of stock markets, lead smallcap analyst at Equitymaster Richa Agarwal talks about the stocks to track in the SME space, in her latest video.

The Indian stock market is dealing with two realities that are highly conflicting. First, the huge influx of money that is a trend in momentum. Second, frothy valuations.

Sensex PE at 24 may not raise eyebrows yet. But smallcaps, microcaps and SMEs are a different story. Most of the gains in SME stocks have come in the post Covid market rally. While in most cases, these gains may disappear, there could be potential multibaggers in this space as well.

Richa talks about how you could start building a watchlist in SME space.

Watch this video till the end to find out more.

Japanese Major Back in the Race for Yes Bank

In latest developments from the banking sector, Japan's Mitsubishi UFJ Financial Group (MUFG), the world's second-largest bank holding company, has re-entered the contest to acquire a majority stake in Yes Bank.

Reportedly, this comes a month after MUFG's $2 billion proposal to invest in HDB Financial, the non-banking finance arm of HDFC Bank, got rejected by the private lender's board in August 2024.

If you remember, Yes Bank has been in the search of a new owner four years after a central bank-orchestrated rescue and its subsequent turnaround.

Earlier this year, MUFG was one of several potential candidates tapped to evaluate the Yes Bank transaction but dropped out after a brief engagement.

Following the collapse of the HDB talks, MUFG is said to have rekindled its interest in Yes Bank.

Shares of Yes Bank had an all-time high of Rs 393 per share touched in 2018 and currently, they trade at Rs 21 per share.

Alembic Pharma Receives 'BIG' Drug Approval

Pharma company Alembic Pharmaceuticals on 3 October 2024 received United States Food and Drug Administration (USFDA) approval for Lamotrigine Extended Release Tablets USP, 200 mg, 250 mg, and 300 mg.

Lamotrigine extended-release tablets are indicated for adjunctive therapy for primary generalised tonic-clonic seizures and partial-onset seizures with or without secondary generalisation in patients aged 13 years and older.

Lamotrigine Extended-Release Tablets USP, 200 mg, 250 mg, and 300 mg have an estimated market size of US$ 163 million for twelve months ending June 2024 according to IQVIA.

Alembic Pharma is a pharmaceutical company headquartered in Vadodara, Gujarat.

The company manufactures and markets a diverse range of products, including formulations for the Indian market produced in Sikkim, international generics made in Gujarat, and active pharmaceutical ingredients (APIs) also manufactured in Gujarat.

Alembic is dedicated to improving access to healthcare innovations and collaborates with some of the world's leading pharmaceutical companies.

To know more, check out Alembic Pharma's financial factsheet.

Why Realty Stocks are Falling

In latest developments from the realty sector, shares of DLF, Sobha, Godrej Properties, Lodha and other realty firms fell up to 6% on 3 October 2024 amid a market sell-off.

The slump comes as housing unit registrations dropped in Mumbai in September 2024.

Data showed that the number of housing units registered in Mumbai in September 2024 dropped 15% year-on-year (YoY) to 9,111 units, as buyers delayed purchases due to the inauspicious Shraadh period and expectations of a stamp duty reduction before the state elections.

The total value of registered units also declined 22% YoY to approximately Rs 146 bn. Year-to-date, Mumbai has registered 1.05 lakh units, marking a 12% YoY increase, with sales by value rising 6% YoY to Rs 1.5 tn.

This shall benefit Mumbai-based players - Lodha, Oberoi, Godrej Properties, Rustomjee and Sunteck, adding that consolidation is the driving feature of India's property market.

Additionally, rising wages, greater employment opportunities, and the return-to-office trend are likely to sustain strong home-buying activity.

Note that the Indian real estate sector offers potential, but selectivity is key. Seek companies with strong balance sheets, low debt and a long and clean history of good intentions towards their shareholders.

Moreover, consider your risk tolerance and investment horizon. Do your research before making any investment decisions. Remember, past performance isn't a guarantee of future results.

To know what's moving the Indian stock markets today, check out the most recent share market updates here.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

Read the latest Market Commentary

Top Gainers TodayTop Gainers over 1-WeekTop Gainers over 1-MonthTop Gainers over 1-YearTop Gainers over 3-YrsTop Gainers over 5-YrsTop Losers TodayTop Losers over 1-WeekTop Losers over 1-MonthTop Losers over 1-YearTop Losers over 3-YrsTop Losers over 5-YrsOnly BuyersOnly SellersMost Active StocksMost Popular Stocks52 Week High Stocks52 Week Low Stocks

INDICESBSE (Rs 0 to 1)BSE (Rs 1 to 2)BSE (Rs 2 to 4)BSE (Rs 4 to 10)BSE (Rs 10 to 20)BSE (Above Rs 20)BSE - AllBSE-30BSE-100BSE-200BSE-500BSE AutoBSE BankexBSE Capital GoodsBSE Consumer DurablesBSE FMCGBSE HealthcareBSE ITBSE MetalBSE Oil & GasBSE PSUBSE TeckBSE RealtyBSE PowerBSE A GroupBSE B GroupBSE Mid-CapBSE Small-CapBSE Basic MaterialsBSE Consumer DiscretionaryBSE IndustrialsBSE UtilitiesBSE Sensex 50BSE Sensex Next 50BSE Bharat 22BSE 150 MidCapBSE 250 SmallCapBSE 250 LargeMidCapBSE 400 MidSmallCapBSE AllCapBSE LargeCapBSE SmallCap SelectBSE 100 LargeCap TMCBSE InfraBSE ManufacturingBSE CPSEBSE Private BankBSE Diversified FinancialsBSE MomentumBSE Low VolatilityBSE QualityBSE Enhanced ValueBSE Divident StabilityS&P BSE IPOBSE SMEIPOBSE 100 ESGBSE CarbonexBSE GreenexNSE (Rs 0 to 10)NSE (Rs 10 to 20)NSE (Above Rs 20)NSE - AllNSE-50NSE ITNSE Nifty Midcap 50NSE JR. NiftyNSE Bank NiftyNIFTY Next 50NIFTY 100NIFTY 200NIFTY 500NIFTY MidCap 100NIFTY SmallCap 250NIFTY SmallCap 50NIFTY SmallCap 100NIFTY LargeMidCap 250NIFTY MidSmallCap 400NIFTY AutoNIFTY Consumer DurablesNIFTY FinanceNIFTY FMCGNIFTY MediaNIFTY MetalNIFTY PharmaNIFTY Private BankNIFTY PSU BankNIFTY RealtyNIFTY Oil & GasNIFTY SME EmergeNIFTY CommoditiesNIFTY CPSENIFTY EnergyNIFTY India ConsumptionNIFTY InfraNIFTY MNCNIFTY PSENIFTY Serv SectorNIFTY100 Liquid 15NIFTY Midcap Liquid 15NIFTY Midcap 150 Quality 50NIFTY50 Equal WeightNIFTY100 Equal WeightNIFTY100 Low Volatility 30NIFTY100 Alpha 30NIFTY Alpha 50NIFTY Dividend Opportunities 50NIFTY High Beta 50NIFTY Low Volatility 50NIFTY200 Quality 30NIFTY 500 Value 50NIFTY 100 Quality 30SECTORSAgricultureAirlinesAluminiumAsset Management CompaniesAutomobilesAuto AncillariesBanks (Private)Banks (PSU)BankingCementChemicalsDefenceDiagnosticsDronesEngineeringElectric VehicleElectric Vehicle BatteryEnergy SourcesESGEthanolFertilizersFintechFMCGFoodGreen HydrogenHotelsInfrastructureInsuranceInvestment and FinanceInvITIT (Large)IT (Others)LogisticsMediaMetalMiningIndia's Big Tech StocksIndian PharmaMNC PharmaPSUPaintPaperPlasticPowerRating AgenciesReal EstateREITsRenewable EnergyRetailingSemiconductorShippingSteelSugarSupply ChainTelecomTextilesTravel Support Services

10 results 25 results 50 results 100 results All results

Indian Share Market Update: Top Gainers and Losers