Sensex Today Falls 809 Points | Nifty Holds Above 25,000 | M&M, Bajaj Finance, Asian Paints Top Losers

Fri, 4 Oct Closing

   Previous Close   

   Pre-Open   

   10:30 am   

   12:30 pm   

It was indeed a volatile trading session for Indian investors and traders today.

Indian benchmark indices BSE Sensex and NSE Nifty moved like a roller-coaster, swinging between gains and losses throughout the trading session.

At the closing bell however, Indian markets settled lower.

After plunging 1,769 points in yesterday's session, the BSE Sensex ended 809 points lower today, while the Nifty tested resilience at the key support level of 25,000, falling nearly 1%.

In the last 5 trading sessions, the Sensex has now fallen over 4,100 points, with the combined market capitalization of BSE-listed stocks falling by Rs 15.9 lakh crore to Rs 461.26 lakh crore.

The negative sentiment comes after institutional investors, or FIIs are pulling away funds from India and putting it into Chinese stock markets.

The Chinese stimulus measures accelerated the outflow of FII money from India to China, where stocks were trading at much cheaper valuations.

The final nail in the coffin was the Israel - Iran war. After Iran launched almost 200 ballistic missiles toward Israel on Tuesday in response to the Israeli air strike, foreign investors became cautious in emerging markets.

At the closing bell, the BSE Sensex stood lower by 809 points (down 0.8%).

Meanwhile, the NSE Nifty closed lower by 200 points (down 0.8%).

Infosys, Tata Motors and Tech Mahindra were among the top gainers today.

M&M, Bajaj Finance and Asian Paints, on the other hand, were among the top losers today.

The BSE MidCap index and the BSE SmallCap index ended lower by 0.9% and 0.8%, respectively.

Shares of Elantas Beck, Info Edge, and BASF India hit their respective 52-week highs 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.

IPOs Next Week

In latest developments from the IPO space, next week is yet again filled with IPOs.

The Indian primary markets have witnessed remarkable growth this year, with a notable surge in initial public offerings (IPOs). According to data from the Bombay Stock Exchange (BSE), a total of 118 companies have gone public so far in 2024.

This week marked bumper listings of three mainline IPOs namely KRN Heat Exchanger, Diffusion Engineers, and Manba Finance.

The upcoming week will have IPOs of Garuda Construction and Engineering from the mainline segment, which is scheduled to open for subscription on Tuesday, October 8.

Simultaneously, Khyati Global Ventures from the SME segment will also commence its public subscription process.

The SME space will also witness listing of 5 companies, including Khyati Global Ventures, Neopolitan Pizza and Foods, Subam Papers, Paramount Dye Tec, HVAX Technologies, and Saj Hotels.

Meanwhile, the mother of all IPOs - the upcoming IPO of Hyundai Motor India is also expected to open for public subscription on Monday, 14 October 2024, as per reports.

HDFC Bank Q2 Update

In latest developments from the banking space, India's biggest private lender HDFC Bank on Friday said its sequential rise in deposits has outpaced loan growth in the fiscal second quarter.

HDFC Bank's gross advances rose 1.3% to Rs 25.19 trillion ($300 billion) in the quarter ending September following a 0.8% decline in the previous quarter.

The bank's retail loans grew by around Rs 338 bn while commercial and rural banking loans grew by around Rs 380 bn from a quarter earlier.

Corporate and other wholesale loans fell Rs 133 bn from a quarter earlier.

HDFC Bank's deposits rose 5.1% from the previous quarter to Rs 25 trillion, after no sequential change in April-June.

Note that HDFC Bank has been one of the most consistent performers of Dalal street growing at a 20% compounded annual growth rate for over 2 decades and shall continue doing so in the wake of India's strong GDP growth.

The market is abuzz about the listing of HDB Financial Services and HDFC Credila.

The board of directors of HDFC Bank has granted in-principle approval to take its financial services arm, HDB Financial Services, public through an initial public offering (IPO).

HDFC Bank owns a 94.64% in HDB Financial Services. The IPO will include an issuance of fresh equity of Rs 25 bn and an offer for sale (OFS).

As per media reports, this IPO could have a valuation of about US$ 7-8 bn. The company is looking at a potential listing either by December 2024 or March 2025.

Meanwhile, HDFC Bank could also benefit from a possible RBI rate cut.

Lower domestic interest rates would reduce the bank's funding costs within India, making loans more affordable and driving further demand, especially in areas like home loans and personal credit.

Additionally, lower rates could ease pressure on deposit pricing, helping HDFC Bank maintain healthy margins and expand its balance sheet more effectively.

To know more, check out its financial factsheet and latest financial results.

Vedanta Q2 Update

Moving on, one of the best dividend stocks in India Vedanta also shared its Q2 update.

Here are the key takeaways -

• Record aluminium production of 1,205 kt in the first half of FY25, while Alumina production jumped 21% YoY.
• Zinc India records a new high for mined metal while the production of refined metal increased by 5% YoY to 524 kt in the first half of the year.
• Vedanta’s Zinc international volumes rose 16% QoQ.
• Power sales increased 10% YoY in the first half supported by higher generation from thermal plants.
• Its Ferrochrome production jumped 70% YoY to 53 kt driven by commissioning of the new furnace.

Vedanta is currently restructuring its business, by demerging into 6 independent listed companies.

Post demerger, Vedanta will hold the upcoming semiconductor and display business.

For more details, check out Vedanta's fact sheet and quarterly results.

And 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