Market Close Update: Nifty Near 24,900, Sensex Gains 224 Points
Indian stock markets went out on a positive note on October 3. The Sensex was up by approximately 224 points, closing at 81,207, and the Nifty was close by at 24,900, up almost 58 points. The majority of shares went up with approximately 2,592 gaining, 1,411 declining, and 132 remaining flat.
Tata Steel, Power Grid Corporation, Hindalco, Axis Bank, and L&T were the top gainers. Max Healthcare, Coal India, Maruti Suzuki, Tech Mahindra, and SBI Life Insurance, on the other hand, incurred partial losses.
Nearly all sectors were up in green except pharma, real estate, and FMCG. The metal industry recorded high returns, gaining close to 2 percent, and PSU banks increased by 1 percent. The BSE midcap and smallcap indices were equally receptive, and they rose by 0.8 and 1.0 percent.
In the meantime, the Indian rupee weakened marginally and stood at 88.78 against the US dollar compared to 88.69 on the day before.
Stock Market Sector Wise Performance
Stock Market This Week:
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Overall Market:
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Market ended higher in the first week of October.
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Sensex and Nifty rose nearly 1% each.
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Midcap index increased nearly 2%.
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Nifty Bank index gained over 2%.
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All sectoral indices recorded gains.
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PSU Bank and Metal were the top gaining indices, each up 4%.
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Nifty Bank and Defence stocks rose over 2% each.
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33 of 50 Nifty stocks moved higher.
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Top Nifty gainers: Tata Motors, Shriram Finance, Kotak Mahindra Bank.
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Top Midcap gainers: MRPL, L&T Finance, Hind Zinc, Vodafone Idea, Aditya Birla Capital.
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Overall Market:
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Market closed near the day’s high.
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Broader markets outperformed, keeping market breadth in favor of advances.
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NSE Advance-Decline ratio stood at 2:1.
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Metal Sector:
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Nifty Metal surged nearly 2%.
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Key gainers: Tata Steel, Hindalco, Nalco.
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Banking & Financials:
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Sensex rose 224 points to 81,207.
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Nifty rose 58 points to 24,894.
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Nifty Bank gained 241 points to 55,589.
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Midcap Index rose 474 points to 57,503.
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Union Bank fell nearly 1%.
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Indian Bank rose over 3%, tracking Q2 updates.
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M&M Finance up nearly 1%, tracking Q2 updates.
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PB Fin off highs after reports of insurance commission cuts.
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Automobile:
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Hero MotoCorp rose over 2% following sales data.
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Retail & Consumer:
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V2 Retail rose over 2% on a strong Q2 update.
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PN Gadgil and PC Jeweller surged up to 5% on Navaratri sales updates.
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Energy & Resources:
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UPL up more than 2% after reports of a deal with PepsiCo.
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Coal India was the top Nifty loser, falling nearly 2% after the September update.
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Defence:
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Defence stocks ended higher and traded higher, tracking Air Force Day commentary.
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Others:
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Sammaan Capital snapped a 6-day winning streak, falling over 4% on IHC deal news.
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