Stock Market News: Sensex Closes At 81,715, Nifty Holds 25,000 As Benchmark Indices Extend Losses

Stock Market News: D-street witnessed another day of selloffs on September 24 as the benchmark indices closed in the red for the fourth straight day. The 30-share Sensex ended below the 82,000 mark and closed at 81,715.63 shedding 386.47 points or 0.47 per cent. The Nifty 50 declined 112.6 points or 0.45 per cent at 25,056.9.

The headline indices fell as renewed concerns over changes to India-US immigration policy, following the US H-1B visa fee hike, dampened investor sentiment. Other factors, such as foreign fund outflows, also contributed to the declines seen in trade today.

Tata Motors and BEL Lead Losers

Shares of Tata Motors and Bharat Electronics Ltd led the losers among the Nifty 50 pack on September 24. Tata Motors shares finished the session at Rs 683 apiece, down by 2.62 per cent. Bharat Electronics Ltd shares finished the session lower by 2.16 per cent at Rs 395.7 apiece on the NSE. Other major losers included Jio Finance and Adani Enterprises Ltd which finished the session with declines of 2.02 per cent and 1.96 per cent respectively. Conversely, shares of Powergrid Corporation of India Ltd, Hindustan Unilever and NTPC finished the session with gains of up to 1.6 per cent.

Nifty Auto and Nifty Realty Decline

In the sectoral pack, the Nifty Auto and the Nifty Realty indices bore the brunt of the selloffs. Nifty Auto finished the session lower by 1.15 per cent and the Nifty Realty declined 2.49 per cent. The broader market indices also mirrored the declines seen in the benchmarks as the Nifty SmallCap 100 and the Nifty MidCap 100 finished lower by 0.67 per cent and 0.98 per cent.

Global Markets On September 24

The Nikkei 225, Hang Seng and the Shanghai Composite closed with gains on September 24. The Nikkei 225 finished higher by 0.98 per cent, the Hang Seng gained 1.6 per cent at the close and the Shanghai Composite finished higher by 0.83 per cent. However the KOSPI bucked the trend and closed lower by 0.4 per cent.

Primary Market Action

Shares of VMS TMT Ltd made their D-street debut on September 24. The subscription window of public issues such as Prime Cable Industries IPO, Solvex Edibles IPO, Ganesh Consumer Products IPO and Atlanta Electricals IPO closed on September 24. The public issues of  Systematic Industries Ltd, Justo Realfintech Ltd, Jain Resource Recycling Ltd, Gurunanak Agriculture India Ltd, Praruh Technologies Ltd, BMW Ventures Ltd and Epack Prefab Technologies Ltd opened for subscription on September 24.

Market Outlook

Indian stock markets are likely to react to mixed global cues, including ongoing India-US trade talks, US Federal Reserve policy announcements and global economic data.