Sensex Today Ends 230 Points Lower | Nifty Below 25,000 | Usha Martin Zooms 15%

Fri, 11 Oct Closing

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After opening the day lower, Indian benchmark indices continued the downtrend as the session progressed and ended the day on negative note.

Sensex and Nifty traded slightly lower on Friday, pulled down by financials, while Tata Consultancy Services, the leading software company, recovered from early losses after reporting a quarterly profit miss.

At the closing bell, the BSE Sensex stood lower by 230 points (down 0.3%).

Meanwhile, the NSE Nifty closed lower by 34 points (down 0.1%).

Hindalco, Trent and ONGC among the top gainers today.

Cipla, TCS and M&M on the other hand, were among the top losers today.

The GIFT Nifty was trading at 25,041 down by 70 points at the time of writing.

For a comprehensive overview of key players in the financial sector, check out list of Fin Nifty Companies.

For impact of the Bank Nifty companies and comprehensive overview of the index, check out Equitymaster's Bank Nifty Companies list

The BSE MidCap index and BSE SmallCap index ended 0.4% higher.

Sectoral indices were trading mixed with socks in metal sector and IT sector witnessing buying. Meanwhile stocks in banking and realty sector witnessed selling pressure.

Hitachi Energy, Page Industries and Dixon Technologies hit their respective 52-week highs today.

Now track the biggest movers of the stock market using stocks to watch today section. This should help you keep updated with the latest developments...

The rupee is trading at 84.07 against the US$.

Gold prices for the latest contract on MCX are trading 0.6% higher at Rs 75,770 per 10 grams.

Meanwhile, silver prices were trading 0.4% higher at Rs 90,732 per 1 kg.

Speaking of the stock market, the aggressive expansion plans of the retailing sector players are not without reason. The sector is witnessing strong growth driven by increased urbanization and demand for organised and high-quality retail spaces.

This is fuelled by the rising demand for big brands thanks to their reach on social media.

This highlights India's emergence as a key player in the global retail market.

Research Analyst, Tanushree Banerjee in her latest video talks about, can top retailing stocks like Trent continue to fetch steep valuations? Find out.

Tune in for more

Why Aurionpro Solutions Share Price is Rising

In news from the IT sector, shares of Aurionpro Solutions Ltd jumped over 4% to reach an intraday high of Rs 1,764 in the afternoon on the BSE after the company announced it is launching its transaction banking platform in Saudi Arabia.

The platform, iCashpro+, caters to both conventional and Shariah-compliant banking systems. According to the company, iCashpro+ was chosen for its robust functionality, top-tier performance, and future-proof design.

Aurionpro highlighted that iCashpro+ enhances customer interactions through high levels of automation, leveraging Arya.ai for personalized, context-driven experiences. The collaboration will also involve boosting the bank's corporate offerings.

The platform is equipped with advanced tools such as AI-powered cash flow forecasting, virtual accounts, liquidity, and receivables management-aiming to increase operational efficiency and elevate the user experience.

Previously, on October 4, Aurionpro informed the exchanges that its Board of Directors would meet on October 21 to review and approve the company's financial results for the quarter and six-month period ending September 2024.

In May, its subsidiary, subsidiary Aurionpro Transit announced a strategic collaboration with Fime to explore opportunities in transit ticketing, payments, and fare collection projects worldwide. Fime is a leading provider of consulting and testing services for payment systems.

Bandhan Bank Surges 7%. Here's Why

Moving on to news from the banking sector, Bandhan Bank shares surged over 7% in the morning session after the Reserve Bank of India (RBI) cleared Partha Pratim Sengupta, to become the new Managing Director and CEO of a private bank.

Partha Pratim Sengupta accepted the position on October 9, 2024, and confirmed on October 10 that he would step down from his other engagements in compliance with the RBI's terms and conditions. His three-year term is set to begin by November 10, 2024.

The appointment will be finalized after getting the green light from the bank's Nomination and Remuneration Committee.

Additionally, Bandhan Bank announced that the National Credit Guarantee Trustee Company (NCGTC) has completed a detailed forensic audit of its claims under the Credit Guarantee Fund for Micro Units (CGFMU) scheme. As of March 31, 2024, the total assessed payout stands at Rs 12.3 bn.

The bank had already received Rs 9.2 bn in December 2022. With this initial claim settled, the final payout as of March 2024 is Rs 3.1 bn.

Usha Martin Hits Record High

Moving on to news from the steel sector, shares of Usha Martin surged more than 16% on October 11 to hit a fresh record high on account of a sharp surge in trading volumes.

So far in the day, around 3 crore shares of the company changed hands on BSE and NSE combined, compared to the one-month average trading volume of 7 lakh shares.

With the stock reaching a new all-time high, it indicates buyer dominance.

Usha Martin is a midcap firm engaged in the business of wire and wire ropes - manufacture and sale of steel wires, strands, wire ropes, cord, related accessories, wire drawing allied machines, etc.

Usha Martin stock was locked trading 16% higher at Rs 426.85 on the National Stock Exchange (NSE) in the previous session. The stock has risen around 46% so far this year, outperforming Nifty's returns of 14%.

In the last year, the counter has risen around 31% compared to Nifty's gain of 26% during this period.

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

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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

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