Stock Market Updates: Sensex Falls 650 Points, Nifty Below 22,650.
Equity indices drop as investors stay cautious amid US Fed rate cut uncertainty & Q4 earnings start.
Equity benchmark indices continued their downward trend during Friday's trading session as investors adopted a cautious approach due to uncertainty surrounding the timing of the US Fed rate cut and the commencement of the Q4 earnings season.
The S&P BSE Sensex witnessed a decline of 600 points, reaching the 74,400 level, while the NSE Nifty 50 slipped below the 22,600 mark.
Tata Steel, Bharti Airtel, Tata Motors, and HCL Tech emerged as the top gainers on the Sensex, whereas major private banks like HDFC Bank, Axis Bank, IndusInd Bank, ICICI Bank, and Ultratech Cement experienced losses.
On the NSE Nifty 50, Hindalco Industries, Tata Steel, and Mahindra and Mahindra were among the leading gainers, whereas Bajaj Auto and Sun Pharma faced significant losses. The broader markets started off relatively unchanged, with both the BSE MidCap and SmallCap indices recording marginal gains of 0.03% and 0.13% respectively.
In sectoral trends on the NSE, Nifty Healthcare, Nifty Pharma, Nifty Banks, and Nifty Fin Services witnessed declines, while Nifty Realty, Nifty PSU Bank, and Nifty Auto saw gains.
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