Stock market traded lower,Sensex drops 78 points; Nifty below 19,700

Stock market traded lower,Sensex drops 78 points; Nifty below 19,700

Ira Singh
26 Sep’23

The Indian equity market indices traded lower on Tuesday as some domestic buying helped limit losses from a relentless selling by foreign funds over fears that global interest rates will stay higher for longer.

At close, the Sensex was down 78.22 points or 0.12 percent at 65,945.47, and the Nifty was down 9.85 points or 0.05 percent at 19,664.70. About 1791 shares advanced, 1756 shares declined, and 122 shares unchanged.

Stocks and Sectors

Eicher Motors, Nestle India, Bajaj Auto, Hero MotoCorp and ONGC were the top gainers on the Nifty, while losers included IndusInd Bank, Tech Mahindra, Cipla, Kotak Mahindra Bank and Adani Enterprises.

On the sectoral front, except bank, pharma and IT, all other indices ended in the green with FMCG index up 0.5 percent.

The BSE midcap index ended on a flat note, while the Smallcap index added 0.3 percent.

On 26 Sep’23,the Indian rupee continued its downward movement for the second straight day and fell by 8 paise to close at 83.21 against the US dollar amid massive selling by foreign equity investors and a firm American currency.

Experts Take:
Market experts have recommended six stocks to buy or sell for Tuesday- Coal India, Bajaj Finserv, ICICI Prudential Life Insurance, Cummins India, Asian Paints and Sun Pharma October 2023 Future.