Stock Market News: Sensex Sheds Over 500 Points, Nifty Slips Below 25,000 As Market Extends Losing Streak

Stock Market News: The Sensex and the Nifty extended losses for the fifth straight day on September 25.The BSE Sensex shed 555.95 points or 0.68 per cent to close at 81,159.68. On the other hand, Nifty 50 shed 166.05 points or 0.66 per cent to close at 24,890.85.

The Nifty witnessed a steady fall throughout the session. Nifty 50’s decline below the psychological 25,000 mark raises concerns regarding further weakness ahead. Notably, investor sentiments continued to remain weak amid the hike in US H-1B visa fees.

Trent and Power Grid Corporation of India Emerge As Losers

Shares of Trent Ltd, Power Grid Corporation of India Ltd and Tata Motors closed lower by as much as 3.61 per cent on the NSE. On the other hand shares of Bharat Electronics Ltd, Hero Motocorp and Hindalco Industries emerged as top gainers closing higher by 2.07 per cent on the NSE. As many as 43 constituents of the Nifty 50 finished in the red while 7 finished in the green.

Nifty IT and Nifty Realty Decline

In the sectoral pack, the Nifty IT and the Nifty Realty indices traded under pressure. The Nifty IT finished the session lower by 1.27 per cent and the Nifty Realty fell 1.65 per cent. The broader market indices also declined as the Nifty SmallCap 100 and the Nifty MidCap 100 finished lower by 0.57 per cent and 0.64 per cent respectively.

Global Markets On September 25

Asian market indices witnessed declines with the Hang Seng, KOSPI and Shanghai Composite closing lower by 0.17 per cent, 0.03 per cent and 0.01 per cent respectively. However, the Nikkei 225 bucked the trend and finished higher by 0.22 per cent. US market indices finished lower on September 24 as the Nasdaq Composite, S&P 500 and the Dow Jones Industrial Average finished lower by as much as 0.33 per cent.

Primary Market Action

Public issues such as Telge Projects IPO, Earkart IPO, Jinkushal Industries IPO, Gujarat Peanut & Agri Products IPO, Trualt Bioenergy IPO, Chatterbox Technologies IPO and Bhavik Enterprises IPO opened for subscription on September 25. The public issues of BharatRohan Airborne Innovations IPO, Aptus Pharma IPO, True Colors IPO, Matrix Geo Solutions IPO, NSB BPO Solutions IPO, Solarworld Energy Solutions IPO, Ecoline Exim IPO, Jaro Institute of Technology Management & Research IPO, Seshaasai Technologies IPO and Anand Rathi Share & Stock Brokers IPO closed for subscription today. Shares of JD Cables Ltd and Ivalue Infosolutions Ltd listed on the exchanges.

Market Outlook

D-street is expected to respond to the ongoing concerns regarding US trade policies and H-1B visa regulations are dampening market sentiment. Continuous selling by Foreign Institutional Investors (FII) is also adding to the downward pressure on the market. D-street is also expected to react to negative signals from global markets.