Selling persists for a second day; Sensex drops by 286 points, Nifty falls below 19,450

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On the second consecutive day, the equity benchmarks experienced a further decline of half a percent, reaching a more than month-long low on October 3. The Nifty dropped below 19,350 due to widespread selling across sectors, except for IT and FMCG.

 

By the end of the trading day, the Sensex had decreased by 286.06 points, equivalent to a 0.44 percent decrease, closing at 65,226.04. The Nifty saw a decline of 92.70 points, or 0.47 percent, ending the day at 19,436.10.

 

Despite a weak start, the benchmarks continued to experience losses throughout the day, pushing the Nifty below the 19,350 mark. However, last-hour buying led to a recovery of more than 100 points from the day's lowest point.

 

The top losers on the Nifty included Axis Bank, SBI, IndusInd Bank, NTPC, and UltraTech Cement, while gainers featured Adani Enterprises, Nestle India, HUL, Eicher Motors, and HDFC Bank.

 

In terms of sectors, all indices except for FMCG and Information Technology ended the day with losses. Auto, capital goods, power, PSU banks, healthcare, metal, and realty sectors saw declines ranging from 1-3 percent.

 

Broader indices performed less favorably than the main indices, with the BSE midcap index falling by 1.5 percent and smallcap stocks also experiencing a decrease.

 

Notable long build-up positions were observed in Ramco Cements, Nestle India, and Escorts, while short build-up positions were taken in Manappuram Finance, Mahindra & Mahindra Financial Services, and L&T Finance Holdings.

 

Among individual stocks, a substantial increase in trading volume, exceeding 100 percent, was noticed in Navin Fluorine International, Glenmark Pharma, and Delta Corp.

 

Several stocks, including Varroc Engineering, Wonderla Holidays, Ujjivan Small Finance Bank, Bajaj Finance, South Indian Bank, MRPL, Mahanagar Gas, L&FS Engineering and Construction Company, Jyoti, Dhanlaxmi Bank, reached their 52-week highs on the BSE. You can access the full list by clicking the link provided.

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