Nifty, Sensex Fall for 5th Consecutive Day; Metals the Only Gaining Sector

Market Update at 4:10 PM: On Thursday, September 25, Indian equity benchmark indices closed in the red, extending losses for the fifth consecutive day. The Nifty 50 ended down by 166 points, or 0.66 per cent, at 24,890.85, slipping below the 25,000 mark. The index also closed below its 50-day EMA, recording a loss of 1.72 per cent over the last four sessions. The Sensex dropped by 555.95 points, or 0.68 per cent, to 81,159.68, as persistent foreign outflows kept investors cautious.

Foreign portfolio investors sold equities worth Rs 2,425.75 crore on Wednesday, taking net September outflows to Rs 19,458.68 crore.

Among sectoral indices, all major sectors ended in the red except Nifty Metal, which gained 0.22 per cent. The Nifty Auto index fell 0.92 per cent following profit-taking after Tuesday’s record high. Nifty IT emerged as the second-highest losing sector, falling over 1 per cent. Nifty Realty was the top laggard, declining 1.65 per cent and extending its fall for the fourth consecutive session. Broader indices also extended losses. The Nifty Midcap 100 index ended down 0.64 per cent, while the Smallcap 100 index closed 0.57 per cent lower, marking four consecutive days of declines.

Among individual stocks, Fineotex Chemicals surged 5.67 per cent ahead of a board meeting to consider an interim dividend, stock split, and bonus issue. Newgen Software rose 3.88 per cent after securing a contract from Kshema General Insurance Ltd.

Top contributors to the Nifty 50 gains included Bharat Electronics Limited (+6.48 points), Axis Bank Limited (+2.59 points), and Bharti Airtel Limited (+2.35 points). On the downside, Tata Consultancy Services Limited (-17.44 points), ICICI Bank Limited (-14.16 points), and Reliance Industries Limited (-12.26 points) weighed on the index.

Market breadth favoured declining stocks. Of 3,125 stocks traded on the NSE, 912 advanced, 2,124 declined, and 89 remained unchanged. A total of 53 stocks touched their 52-week highs, while 77 hit their 52-week lows. Additionally, 86 stocks were locked in their upper circuits, whereas 71 stocks were in lower circuits.

Market Update at 12:30 PM: The benchmark Indian equity indices were trading lower on Thursday amid mixed global cues. In the afternoon trade, the BSE Sensex stood at 81,497.64, down 218 points or 0.27 per cent, while the NSE Nifty50 was at 24,989.1, lower by 67.8 points or 0.27 per cent.

On the BSE, Bharat Electronics Limited (BEL), Sun Pharma, Axis Bank and HDFC Bank emerged as the Top Gainers. In contrast, Tata Motors, Trent, Asian Paints and Titan were among the leading laggards.

Broader markets showed a marginally positive trend. The Nifty MidCap 100 index gained 0.17 per cent, and the Nifty SmallCap 100 index was up 0.07 per cent.

From a sectoral perspective, the Nifty Auto index declined 0.73 per cent, while the Nifty IT index fell 0.42 per cent, making them the top drags of the session. On the other hand, the Nifty Metal index gained 0.63 per cent, and the Nifty Pharma index was up 0.1 per cent.

Market Update at 10:15 AM: India's equity markets opened lower on Thursday, extending the cautious sentiment following four consecutive sessions of losses. Concerns over foreign fund outflows and U.S. visa restrictions have weighed on investor sentiment.

The Nifty 50 lost 0.2 per cent to 25,008.5, while the BSE Sensex declined 0.13 per cent to 81,603.96 as of 9:18 a.m. IST. The 50-stock index has dropped 1.4 per cent over the last four sessions, reflecting sustained selling pressure.

Sector-wise, nine of the 16 major indices opened in the red, with broader markets also under pressure. The CNX Smallcap and CNX Midcap indices fell about 0.1 per cent each, signaling weakness beyond Large-Cap stocks.

Pre-Market Update at 7:30 AM: On Thursday, September 25, Indian equity benchmark indices Sensex and Nifty 50 are expected to open lower, tracking weakness in global markets. At 7:09 AM, the GIFT Nifty was trading near 25,062, down by 57 points.

The Reserve Bank of India (RBI), in its monthly bulletin, noted that ongoing goods and services tax (GST) reforms are expected to ease retail prices and support consumption growth. The central bank highlighted that these reforms will improve the ease of doing business and strengthen demand drivers. While festive demand and GST-related measures may provide some cushion, global headwinds, currency weakness, and uncertainty over the India-US trade deal could keep markets range-bound in the near term.

On Wednesday, September 24, Foreign Institutional Investors (FIIs) were net sellers, offloading equities worth Rs 2,425.75 crore. Domestic Institutional Investors (DIIs) continued their buying streak, purchasing equities worth Rs 1,211.68 crore, marking their 22nd consecutive session of net buying.

Equity benchmarks extended their losing streak for the fourth straight session. The Nifty 50 closed 112.60 points lower at 25,056.90, while the Sensex shed 386.46 points to settle at 81,715.64. Banking majors HDFC Bank and ICICI Bank dragged the indices, though the India VIX cooled by 1.03 per cent, indicating some easing in market volatility. Sectorally, all indices ended in red except FMCG, with Nifty IT down 0.72 per cent and Nifty Auto slipping over 1 per cent after hitting record highs earlier. Broader markets mirrored the weakness, with Nifty Midcap and Small-Cap indices extending losses for the third day.

Wall Street closed lower for the second straight session as investors booked profits near record levels. Comments from Federal Reserve Chair Jerome Powell on stretched equity valuations added to the cautious tone, ahead of key inflation data later this week. The Dow Jones fell 171.50 points, or 0.37 per cent, to 46,121.28. The S&P 500 dropped 18.94 points, or 0.28 per cent, to 6,637.98, while the Nasdaq Composite declined 75.62 points, or 0.33 per cent, to 22,497.86.

Sales of new US single-family homes surged 20.5 per cent to a seasonally adjusted annualised rate of 800,000 units in August. The July sales pace was revised higher to 664,000 units from 652,000 units.

Gold prices edged higher on expectations of further US rate cuts, geopolitical risks, and a weaker dollar. Spot gold was trading 0.1 per cent higher at USD 3,737.94 per ounce, while MCX gold futures climbed 1.74 per cent on Tuesday to an all-time high of Rs 114,179 per 10 grams.

Crude oil prices cooled after a recent rally, with WTI futures falling below USD 65 per barrel and Brent futures slipping to around USD 69 per barrel. The US Dollar Index stood at 97.813, close to a three-week high, and is set to post a marginal monthly gain.

For today, Sammaan Capital, RBL Bank and HFCL will remain on the F&O ban list.

Disclaimer: The article is for informational purposes only and not investment advice.