The benchmarks suffered steep losses for the third day in a row challenging firm global indices. The Nifty50 index finished at 17,618, down 93 points. BSE Sensex, meanwhile, ended with a loss of 286 points to 59,126. Volatility remained high due to the monthly maturity of F&O.
Power Grid Corp, Axis Bank, Asian Paints, Eicher Motors and Hero MotoCorp were among the big losers at Nifty. Bajaj Finserv, Bajaj Finance, Sun Pharma, NTPC and Tata Motors were among the winners.
The BSE MidCap and SmallCap indices, however, closed higher, up 0.3% and 0.6%, respectively. The scale of the market was in favor of advances, as about 1,804 stocks rose and 1,393 stocks fell.
On the sector front, the trend was mixed, with purchases of real estate, pharmaceuticals, energy and PSU banking stocks. The sale has been seen in the names of automotive, banking, IT and metal. The volatility index, India VIX, fell 2.3% to close at 18.40.
As for stock specific moves, shares of JMC Projects rose 12% today after the company secured new orders of Rs 1,849 crore. Faze Three Autofab also jumped 14% in a weak market. According to BSE wholesale trading data, investor ace Ashish Rameshchandra Kacholia bought 450,000 shares at an average price of Rs 288.80 in BSE trading on Wednesday.
That said, Bharti Airtel shares failed to hold opening gains, ending nearly 1% lower after the company said it would invest Rs 5,000 crore to expand its trading business. data center. Meanwhile, Zee Entertainment’s stock was also in the spotlight today due to the Zee-Invesco affair. Invesco dragged ZEE to NCLT in search of EGM for the board replenishment. The title closed with a loss of almost 2%.
Now, on the primary market, Aditya Birla Sun Life AMC’s initial public offering is almost fully subscribed on the second day of the tender. So far, the shares offered have been subscribed 0.98 times. The IPO will remain open until Friday.
Global Health Limited, which operates and manages hospitals under the Medanta brand, has also filed preliminary documents with capital market regulator Sebi to raise funds through a first sale of shares.
All eyes will be on the basic industry data expected today. Additionally, when trade opens on Friday, markets will focus on the auto space, as companies are due to break down their sales data for September tomorrow. The technical indicator suggests, a volatile movement in the market in a small range between 17600-18000.
Meanwhile, Paras Defense and Space Technologies is set to make its market debut on October 1. Paras Defense’s three-day IPO, which was launched between September 21 and 23, was subscribed more than 304 times, amid strong demand from non-institutional investors. investors.
Finally, stock-specific movements, global indices as well as news related to Covid-19 will be among other major triggers for investors.
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