Sensex Falls -687.16 Points, Trading Below 50DMA: Market Update

Oct 17 2024 12:00 PM IST
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Today, the stock market has experienced a volatile day, with the Sensex opening strong but then falling sharply by -687.16 points. This decline has been attributed to Sensex trading below its 50 Day Moving Average, while the 50DMA remains above its 200DMA. Despite this, there are some bright spots, with large caps trading flat and some mid and small cap stocks showing gains. However, the overall market is facing a downward trend, with the advance decline ratio at 0.17x and most sectors experiencing declines. Investors are advised to closely monitor the market and make informed decisions based on individual stock and sector performance.

The stock market has been a rollercoaster ride today, with the Sensex opening strong but then falling sharply by -687.16 points. Currently, it is trading at 81,070.91 with a -0.53% decrease. This dip in the market has been attributed to Sensex trading below its 50 Day Moving Average (DMA), while the 50DMA is still above its 200DMA. In the last 3 weeks, Sensex has lost -5.26%, causing concern among investors.

Despite the overall market decline, there are some bright spots. Large caps are trading flat today, with Infosys being the top gainer at 1.48%. In the mid cap category, Mphasis is leading with a 5.42% increase, while K&R Rail Engine is the top small cap gainer at 15.90%. On the other hand, Bajaj Auto is the top large cap loser with a -11.72% decrease, followed by Oberoi Realty and Himadri Special in the mid and small cap categories respectively.

The advance decline ratio across BSE500 is at 0.17x, with 74 advances and 426 declines. The BSE100, SMLCAP, and MIDCAP caps are all falling, with declines of 0.92%, 1.13%, and 1.29% respectively. In terms of individual stocks, Titagarh Rail is the top gainer in the BSE500 at 7.79%, while Bajaj Auto and Himadri Special are the top losers at -11.72% and -5.85% respectively.

Investors are also keeping an eye on upcoming results, with MRPL, Oberoi Realty, and Tata Consumer all set to announce their results on 18th October 2024. Out of the 38 sectors, only 3 are advancing today while 35 are declining. The realty sector is the top losing sector with a -3.51% decrease, while the NIFTYIT sector is the top gainer at 0.71%.

Overall, the market is facing a downward trend today, with the Sensex trading at 81,052.24 with a loss of -449.12 points or -0.55%. Investors are advised to closely monitor the market and make informed decisions based on the performance of individual stocks and sectors.

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