Today’s Market Overview by Sujata Muguda for Business News for Profit

By Sujata Muguda

17 September 2024: Benchmark indices, the BSE Sensex and Nifty50 closed higher on Tuesday. The Sensex climbed 90.88 points or 0.11%, ending at 83,079.66, while the Nifty50 rose 34.80 points or 0.14% to finish at 25,418.55.
Out of the Nifty50, 29 stocks ended in the red, with notable losers including Tata Motors, Eicher Motors, Tata Steel, Coal India, and JSW Steel, dropping up to 1.36%. On the other hand, Hero MotoCorp, Bajaj Auto, Bharti Airtel, NTPC, and Mahindra led the gainers, rising by as much as 3.25%.

In the BSE Sensex, 15 stocks declined, with Tata Motors, JSW Steel, Tata Steel, Adani Ports, ITC, and Power Grid Corporation of India losing up to 1.29%. Meanwhile, Bharti Airtel, NTPC, Mahindra & Mahindra, Larsen & Toubro, and Titan Company gained up to 1.61%.

Bajaj Housing Finance continued its upward rally for a second consecutive day, hitting a 10% upper circuit at Rs 181.50.

Among broader indices, the Nifty Smallcap 100 snapped its 3-day winning streak, closing down 0.40% at 19,465.55, while the Nifty Midcap 100 slipped 0.19% to 60,180.75.

The NIFTY sectoral indices show a mixed performance:

•  Top Performers: NIFTY Realty leads with a significant gain of +0.61%, followed by NIFTY Private Bank (+0.17%), and NIFTY Auto (+0.26%), indicating strength in the real estate and private banking sectors.
•  Moderate Gains: Sectors like NIFTY IT (+0.14%) and NIFTY FMCG (+0.14%) have posted modest gains, showcasing steady performance in technology and consumer goods.
•  Declining Sectors: The worst performer is NIFTY Media (-1.19%), followed by declines in NIFTY PSU Bank (-0.58%), NIFTY Metal (-0.42%), and NIFTY Pharma (-0.28%), reflecting weakness in these sectors.
•  Near Flat: NIFTY Financial Services (+0.01%) showed little change, while the broader NIFTY Financial Services 25/50 index (-0.13%) registered a slight dip.

For a more detailed breakdown and expert insights into the market’s performance, stay tuned to Business News For Profit market watch reports. Our commitment to providing accurate and timely information will continue to assist investors in making informed decisions in the ever-evolving landscape of the stock market.

Disclaimer: The statistics supplied in this article are for instructional and informational functions and do not represent monetary recommendations. The inventory market is volatile and unpredictable, and readers have to conduct their very own studies or seek advice from a financial guide earlier than making any investment decisions.