The Sensex opened lower by 710 points, hitting an intraday low of 81,833.69 but managed to recover some losses to close 203 points down at 82,352.64. Similarly, the Nifty 50 dipped to an intraday low of 25,083.80 and ended the day 81 points lower at 25,198.70.
Despite the downward trend, the BSE Midcap and Smallcap indices saw slight gains, with midcaps rising by 0.19% and small caps climbing by 0.54%, showing that there was still interest in specific sectors of the market.
Impact on the stock market
Sectoral indices displayed a mixed performance, with five of the 13 major sectors rebounding by market close. Defensive stocks, especially in the FMCG and pharma sectors, led gains, while banking and IT sectors dragged the indices down.
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| Sector/Index | Performance |
| IT & BPM sector | -0.94% |
| Healthcare sector | +0.82% |
| Oil & Gas sector | -0.40% |
| Real estate sector | +0.65% |
| PSU Bank in India | -1.69% |
Top gainers today
| Company | Price | Change (%) |
| Asian Paints Share Price | 3,231.65 | +2.43 |
| Grasim Share Price | 2,757.65 | +1.88 |
| HUL Share Price | 2,841.25 | +1.68 |
| Apollo Hospital Share Price | 6,930.90 | +1.26 |
| Sun Pharma Share Price | 1,832.85 | +1.18 |
Top losers today
| Company | Price | Change (%) |
| Wipro Share Price | 519.15 | -3.15 |
| Coal India Share Price | 503.65 | -3.07 |
| ONGC Share Price | 314.40 | -2.42 |
| Hindalco Share Price | 666.80 | -1.78 |
| M&M Share Price | 2,749.60 | -1.27 |
Market aftermath: Impact on stocks
BEML stock up 7%
BEML shares surged 7% as the Defence Acquisition Council (DAC) approved Rs 1.4 lakh crore in defence procurements. Heavy volumes, with 17 lakh shares traded, pushed the stock higher.
BEML, a major manufacturer of ground support equipment and all-terrain vehicles for defence, saw strong demand following this government approval.
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Aeron Composite shares debut 20%
Aeron Composite made a strong debut on the NSE SME platform, listing at a 20% premium over its issue price. The IPO was well-received, with the public offering subscribed 41 times, reflecting robust investor interest.
Aeron Composite shares opened at ₹150 against an issue price of ₹125, showing investor confidence in the firm’s future prospects.
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Atlantaa hits 52-week high
Atlantaa shares hit a 52-week high following the announcement of receiving a commencement certificate for its residential project, Atlanta Enclave Phase 11.
The stock was locked in at a 2% upper circuit, driven by strong demand for the company’s infrastructure and real estate projects.
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Crude oil price decline
In the commodities market, crude oil prices continued to decline amid concerns about increased global supply. November Brent oil futures were trading at $73.36, down by 0.53%, and crude oil futures on WTI fell to $69.91, down by 0.61%.
With Libya’s oil production recovering after a political dispute, market participants are expecting further supply increases from OPEC+ members in the coming months.
September crude oil futures on the MCX were trading at ₹5,896, down by 0.39%. The continuous slide in crude oil prices is due to oversupply concerns, which could continue to pressure prices in the short term.
Conclusion
Wednesday’s market session was a mixed bag. While the benchmark indices closed in the red due to weak global sentiment and profit booking in heavyweight stocks, several stocks like BEML and Aeron Composite bucked the trend with solid performances.
The defensive sectors, particularly FMCG and pharma, provided some respite to investors. However, concerns over crude oil supply and weak global cues kept the overall sentiment cautious.
As markets await further macroeconomic data, the coming days will likely offer more clarity on the near-term direction of the markets.
Stay tuned on StockGro for more updates on market trends.
