Mumbai: The 30-share Sensex and Nifty recovered after declining 281.74 points to 80,902.19 in early trade on September 9, 2024, i.e., Monday, while the latter dipped 81.45 points to 24,770.70. The equity benchmark indices dropped due to weak trend in global markets and foreign fund outflows.
The Sensex recovered around 250 points and was trading at 81,156.49 at 10:06 am, while Nifty recovered around 65 points to trade at 24,835.55
30 Sensex pack laggards: Tata Motors, Mahindra & Mahindra, NTPC, Power Grid, Adani Ports, and Tata Steel. Gainers included, Tata Consultancy Services, Infosys, Hindustan Unilever, and Asian Paints.
Commenting on the drop in domestic stock market, Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd, said, said markets are concerned over a potential US economic slowdown.
“The stock markets have taken a sharp bearish turn, with sentiment shifting from optimism about cooling US inflation to concerns over a potential US economic slowdown. Friday’s weaker-than-expected jobs data has reignited fears of a recession, further compounded by soft manufacturing updates,” Tapse said.
Meanwhile, V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services, said that markets are concerned on US Presidential Election outcome and Federal Reserve rate cut.
According to exchange data, Foreign Institutional Investors (FIIs) sold equities worth Rs 620.95 crore on September 6, 2024.
The BSE Sensex plunged 1,017.23 points to close at 81,183.93 6th September. The NSE Nifty declined 292.95 points to end at 24,852.15.
In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong were trading lower.
The US markets ended significantly lower on Friday.
Stock Market today: The Sensex dropped 281.74 points to 80,902.19 in early trade on September 9, 2024, i.e., Monday. The Nifty dipped 81.45 points to 24,770.70. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
