Stock Market News: Sensex Sheds More Than 150 Points, Nifty Holds 25,000 Level As Indices End Winning Spree

Stock Market Today: The Sensex and the Nifty snapped a four-session rally on October 8. The Sensex finished at 81,773.66 down by 153.09 points or 0.19 per cent. On the other hand, Nifty 50 finished at 25,046.15 down by 62.15 points or 0.25 per cent. During the session, large-cap IT stocks witnessed some investor interest ahead of TCS earnings, while the Realty and Auto sectors emerged as top-drags.

Tata Motors and M&M Lead Gainers

Tata Motors and Mahindra & Mahindra led the losers among Nifty 50 constituents on October 8, closing lower by 2.54 per cent and 1.94 per cent respectively on the NSE. Other significant losers included Jio Financial Services Ltd and UltraTech Cement Ltd which closed lower by 1.68 per cent and 1.67 per cent respectively. As many as 36 constituents of the Nifty 50 finished in the red while 14 finished in the green amid broad-based selloffs.

Nifty Realty and Nifty Auto Decline

The Nifty Realty and the Nifty Auto indices emerged as the top drags among the sectoral pack finishing the session lower by 1.53 per cent and 1.8 per cent respectively. On the other hand the Nifty IT emerged as the only major sectoral index to close with gains ahead of the announcement of results by Tata Consultancy Services. The Nifty IT finished higher by 1.44 per cent.

Global Markets On October 8

Most Asian indices witnessed declines on October 8, the Nikkei 225 closed lower by 0.21 per cent. And the Hang Seng finished lower by 0.51 per cent. On the other hand the Shanghai Composite finished higher by 0.52 per cent. The US market indices finished lower on October 8 with the Nasdaq Composite, S&P 500 and the Dow Jones Industrial Average closing lower by 0.67 per cent, 0.38 per cent and 0.2 per cent respectively.

Primary Market Action

Shares of Valplast Technologies Ltd, B.A.G.Convergence Ltd, Sheel Biotech Ltd, Infinity Infoway Ltd, Munish Forge Ltd, Sunsky Logistics Ltd and Chiraharit Ltd listed on the SME platforms on October 8. On the other hand, shares of Advance Agrolife Ltd and Om Freight Forwarders Ltd made their respective debuts on the BSE and NSE. The public issue of Tata Capital IPO is also scheduled to close for subscription on October 8.

Market Outlook

The commencement of the second quarter earnings season from October 9 is expected to impact D-street action. Other major triggers set to impact trade include activity in the primary market, and significant global cues from the US and Europe.