Stock market extends losses to 2nd Day; Sensex down 286 pts, Nifty below 19,450

Stock market extends losses to 2nd Day; Sensex down 286 pts, Nifty below 19,450

Ira Singh
4 Oct’23

The Indian equity market indices declined for the second consecutive day on Wednesday,extending their previous day’s fall,in line with weak global market trends and unabated foreign fund outflows.

At close, the Sensex was down 286.06 points or 0.44 percent at 65,226.04, and the Nifty was down 92.65 points or 0.47 percent at 19,436.10.

Stocks and Sectors

Adani Enterprises, Nestle India, HUL, Eicher Motors and HDFC Bank were the top gainers on the Nifty, while losers included Axis Bank, SBI, IndusInd Bank, NTPC and UltraTech Cement.

On the sectoral front, except FMCG and Information Technology, all other indices ended lower with auto, capital goods, power, PSU bank, capital goods, healthcare, metal and realty down 1-3 percent.

Broader indices underperformed the main indices with the BSE midcap index falling 1.5 percent and smallcap index down 1 percent.

On 4 Oct’23,the Indian rupee depreciated 3 paise to close at 83.24 against the US dollar weighed down by the strength of the American currency and a weak trend in domestic equities.

Experts Take:
Market experts have recommended six stocks to buy or sell for Wednesday-Praj Industries, Bank of India, Delhiery, HCL Tech, Cholafin and LTFH.