Frontline indices, the Sensex and the Nifty 50, ended in the red on Tuesday, October 14, extending their losses to a second consecutive session, as they tracked weak global cues. The Sensex ended the day at 82,029.98, down 297 points, or 0.36 per cent, while the Nifty 50 settled with a loss of 82 points, or 0.32 per cent, at 25,145.50.
The mid and small-cap segments underperformed, as the BSE Midcap and BSE Smallcap indices lost 0.74 per cent and 0.95 per cent, respectively.
The overall market capitalisation of BSE-listed firms dropped to ₹459 lakh crore from ₹462.5 lakh crore in the previous session, resulting in a loss of over ₹3 lakh crore for investors in a single session.
Indian stock market: 10 key highlights from the day
1. Why did the Sensex, Nifty 50 fall for the second consecutive session?
The Sensex and Nifty 50 ended lower for the second consecutive session amid persistent concerns over a renewed escalation of trade tensions between the US and China.
US President Donald Trump on Friday slapped China with an additional 100 per cent tariff, in addition to the existing 30 per cent duties, effective November 1 or sooner, following China’s new restrictions on rare earth elements.
The US and China are the world’s two largest economies, and a trade tussle between them can have serious impacts on global economic growth.
“The decline was largely driven by renewed worries over U.S.–China trade tensions and weak global cues, which offset optimism from strong IPO listings and improving IT earnings. While LG Electronics India’s stellar market debut captured investor attention, its strength couldn’t lift overall sentiment,” said Ajit Mishra, SVP of research at Religare Broking.
Domestically, the unimpressive Q2 results so far and cautious management commentaries have kept the market mood sombre.
“Muted start to the ongoing Q2 results and weaker-than-expected inflation data raised concerns about slow demand, intensifying profit booking. Mid and small-cap stocks bore the brunt of the sell-off, underperforming large caps while sectoral losses were broad-based,” said Vinod Nair, Head of Research, Geojit Investments.
2. Top gainers in the Nifty 50 index today
Shares of Max Healthcare Institute (up 1.42 per cent), Tech Mahindra (up 1.24 per cent), and Wipro (up 1.09 per cent) ended as the top gainers in the Nifty 50 index.
3. Top losers in the Nifty 50 index
Shares of Dr. Reddy’s Laboratories (down 2.17 per cent), Tata Steel (down 2.14 per cent), and Bajaj Finance (down 1.90 per cent) ended as the top losers in the index. As many as 40 stocks ended in the red in the index.
4. Sectoral indices today
All major sectoral indices ended with losses, with PSU Bank, Consumer Durables, and Media falling by over a per cent each.
Nifty Metal, Pharma, Realty, and Oil and Gas fell by up to a per cent.
Nifty Bank and Financial Services indices ended with losses of 0.23 per cent and 0.21 per cent, respectively.
5. Most active counters in terms of volume
Vodafone Idea (80.52 crore shares), Nippon India Silver ETF (16.2 crore shares), and YES Bank (15.4 crore shares) were the most active counters in terms of volume on the NSE.
6. 15 stocks jump over 10% on BSE
Deep Diamond India, Repro India, MTAR Technologies, Indrayani Biotech, and Millennium Online Solutions (India) were among the 15 stocks that jumped by more than 10 per cent on the BSE.
7. Advance-decline ratio
Out of 4,334 stocks traded on the BSE, 1,337 advanced, while 2,870 declined. Some 127 stocks remained unchanged.
8. Over 130 stocks hit 52-week highs
As many as 133 stocks, including Bajaj Finance, Eternal, HBL Engineering, L&T Finance, MCX, Muthoot Finance, RBL Bank, and Nippon Life India Asset Management, hit their 52-week highs in intraday trade on the BSE.
9. Over 150 stocks hit 52-week lows
Some 153 stocks, including Westlife Foodworld, Tata Investment Corporation, Vedant Fashions, KNR Constructions, Crompton Greaves Consumer Electricals, and Blue Dart Express, hit their 52-week lows on the BSE.
10. Nifty’s technical outlook
According to Mishra of Religare Broking, the Nifty is approaching its first key support at the 20-DEMA, near 25,050, with resilience in banking majors keeping hopes of a recovery alive.
However, a decisive break below this support could trigger a deeper correction toward 24,800, said Mishra.
Rupak De, Senior Technical Analyst at LKP Securities, said on the daily chart, a bearish engulfing pattern indicates growing pessimism among traders. Besides, a lower-top formation is visible on the daily timeframe.
“The current setup points to short-term weakness, with immediate support placed at 25,000, while resistance is seen at 25,200–25,300,” said De.
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Disclaimer: This story is for educational purposes only. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.
