Stock Market Updates: Sensex Drops 100 pts, Nifty Below 19,800; HUDCO Sinks 8%

Share

Tweet

Share

Share

Email

Comments

Indian stock markets started Wednesday’s trading session on a tepid note as investors assessed geopolitcal developments

Sensex Today: Indian stock markets started Wednesday’s trading session on a tepid note as investors assessed geopolitcal developments and the September quarter results of India Inc.

The S&P BSE Sensex slipped 74 points in early deals to quote at 66,354, while the Nifty50 index was hovering below the 19,800-mark.

Read More: IRM Energy IPO Opens Tomorrow: GMP, IPO Key Details; Should you Subscribe?

The broader BSE MidCap and SmallCap indices, meanwhile, gained 0.2 per cent and 0.4 per cent, respectively, on the BSE.

Sectoraly, the Nifty Financial Services fell 0.4 per cent, followed by the Nifty Private Bank index (down 0.3 per cent0. On the upside, the Nifty Media index added 0.7 per cent.

Shares of Housing Urban Development Corpo­ration tumbled 8 per cent as the government began selling 7 per cent stake in Hudco through the offer for sale (OFS) route. It has put on the block a total of 140 million shares at a floor price of Rs 79 per share.

Read More: Ondoor Concepts IPO: Check Open Date, Price Band, Lot Size, GMP, Allotment Date, And More

Shares of Bajaj Finance fell 1.6 per cent after it reported a 28 per cent year-on-year (YoY) growth in consolidated net profit for Q2FY24 at Rs 3,551 crore. Net Interest Income (NII) expanded by 26 per cent YoY to Rs 8,845 crore.

Global cues

Asian markets were mixed Wednesday morning following escalation of tensions in the Middle East. Meanwhile, China’s Q3 GDP grew better-than-expected at 4.9 per cent.

Read More: Stocks to Watch: Wipro, Biocon, IndiGo, Bajaj Finance, Glenmark, HUDCO, and Others

Key indices across Japan, South Korea, China fell in the range of 0.04 per cent to 0.3 per cent. Australia, however, reversed losses, while Hong Kong was flat.

Overnight, the S&P500 dipped 0.01 per cent, Nasdaq fell 0.25 per cent, and Dow Jones added 0.04 per cent.

The 10-year US Treasury yield topped 4.8 per cent, reaching its highest level since Oct. 6 after US retail sales data came in hotter than anticipated.