Stock Market Plummets as Majority of Sectors See Decline
Today, the stock market has seen a decline in 35 out of 38 sectors, with NIFTYREALTY being the top loser and BSE IT being the top gainer. The Sensex, which initially opened higher, is now trading at a 0.52% decrease and below its 50 Day Moving Average. This indicates a bearish trend in the market. In the last 3 weeks, Sensex has lost 5.26%, adding to the overall negative sentiment. Large caps are trading flat, while mid-cap and small-cap categories have seen some gains and losses. The advance-decline ratio is at 0.23x, further indicating the bearish trend. Upcoming results from companies like MRPL, Oberoi Realty, and Tata Consumer will be closely watched by investors. Currently, the SENSEX is trading at 81,055.74 with a 0.55% decrease, making it important for investors to make informed decisions while trading.
The stock market has been a rollercoaster ride today, with 35 sectors declining and only 3 sectors advancing out of a total of 38. The top losing sector is NIFTYREALTY, which has seen a decline of 3.18%, while the top gaining sector is BSE IT with a 1.46% increase.
The Sensex, after opening 256.71 points higher, has taken a sharp turn and is currently trading at 81,073.74 with a 0.52% decrease. It is also trading below its 50 Day Moving Average (DMA), while the 50DMA is trading above its 200DMA. This indicates a bearish trend in the market.
In the last 3 weeks, Sensex has lost 5.26%, adding to the overall negative sentiment in the market. Large caps are trading flat today, with Infosys being the top gainer with a 2.86% increase. In the mid-cap category, Mphasis is the top gainer with a 6.51% increase, while K&R Rail Engine takes the lead in the small-cap category with a 15.43% increase. On the other hand, Bajaj Auto is the top loser in the large-cap category with an 11.66% decrease, followed by Oberoi Realty with a 5.09% decrease in the mid-cap category and Hi-Tech Pipes with a 6.12% decrease in the small-cap category.
The advance-decline ratio across BSE500 is at 0.23x, with 94 advances and 406 declines. The BSE100, SMLCAP, and MIDCAP caps are all falling by 0.88%, 0.93%, and 1.14% respectively, further indicating the bearish trend in the market.
In terms of upcoming results, MRPL, Oberoi Realty, and Tata Consumer are all set to announce their results on 18th October 2024. Investors will be keeping a close eye on these companies to see how their performance affects the market.
As of now, the SENSEX is trading at 81,055.74 with a loss of 445.62 points, which is a 0.55% decrease. With the market being driven by negative sentiment and a bearish trend, investors need to be cautious and make informed decisions while trading.
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