Stock Market News: Sensex Adds Over 200 Points, Nifty Ends Close To 24,900 As Indices Extend Gains

The Sensex and the Nifty extended gains on October 3. The Sensex finished at 81,207.17 levels up by 223.86 points or 0.28 per cent. The Nifty 50 closed at 24,894.25 up by 57.95 points or 0.23 per cent. The benchmark indices started the session flattish on October 3. However later in the day the index staged a steady upward move.

Tata Steel, Power Grid Corporation of India Lead Gainers

Shares of Power Grid Corporation of India Ltd, Tata Steel and Kotak Mahindra Bank emerged as top-gainers on October 3 closing higher by up to 3.45 per cent on the NSE. Conversely, shares of Max Healthcare Institute Ltd, Tech Mahindra Ltd and Eicher Motors Ltd led the losers among Nifty 50 stocks, finishing the session lower by as much as 3.88 per cent. As many as 26 constituents of the Nifty 50 finished in the green while 24 stocks closed in the red.

Nifty Metal and Nifty Consumer Durables Close Higher

The Nifty Metal and the Nifty Consumer Durables index finished the session higher on October 3. The Nifty Metal and the Nifty Consumer Durables index closed higher by 1.82 per cent and 1.09 per cent respectively, emerging as top gainers among sectoral indices. The broader market indices also extended gains on October 3 with Nifty MidCap 100 and the Nifty SmallCap 100 closing higher by 0.83 per cent and 0.69 per cent respectively.

Global Markets On October 3

Asian market indices finished the session mixed on October 3. Japan’s Nikkei 225 and China’s Shanghai Composite finished the session higher by 1.8 per cent and 0.52 per cent respectively. However, the Hang Seng finished the session in the red down by 0.59 per cent.

Primary Market Action

WeWork India Management IPO opened for subscription on October 3. On the other hand SME issues such as Valplast Technologies IPO, B.A.G.Convergence IPO, Sheel Biotech IPO,Infinity Infoway IPO, Munish Forge IPO, Sunsky Logistics IPO, Zelio E-Mobility IPO and Chiraharit IPO closed for subscription. The mainboard issues of Advance Agrolife IPO and Om Freight Forwarders IPO also closed for subscription today.

Market Outlook

D-street is likely to be impacted by the announcement of Q2FY25 results, notably the results season will kick off next week and is expected to influence overall market sentiment. On the other hand, international cues such as the lingering possibility of a US government shutdown and its potential impact on the global economy are likely to keep market participants cautious.