The Sensex closed 0.4% lower, shedding 329.72 points to settle at 81,591.57, while the Nifty 50 slipped 0.36%, closing at 24,950.80. Despite losses in the broader market, 1551 shares advanced, while 2242 declined, and 98 remained unchanged.
Sectors, including auto and FMCG, the overall sentiment was negative, ahead of US inflation data. The IT and pharma sectors contributed to some gains, with stocks like Bajaj Auto and Britannia Industries performing well. However, mid-cap and small-cap stocks faced the brunt of the decline.
Impact on the stock market
The broader indices saw mixed movement: the Nifty Midcap 100 index remained flat at 59,021 points, while the Nifty Smallcap 100 index fell by 0.8%. Key laggards included HFCL, IRB Infrastructure, and Aarti Industries.
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| Sector/Index | Performance |
| IT & BPM sector | -0.40% |
| Healthcare sector | -0.15% |
| Oil & Gas sector | -1.92% |
| Real estate sector | -1.16% |
| PSU Bank in India | -1.75% |
Top gainers today
| Company | Price | Change (%) |
| Bajaj Auto Share Price | 11,420.75 | +3.94 |
| Asian Paints Share Price | 3,367.45 | +2.20 |
| Bajaj Finance Share Price | 7,345.55 | +1.43 |
| Britannia Share Price | 6,008.65 | +0.65 |
| Shriram Finance Share Price | 3,279.90 | +0.61 |
Top losers today
| Company | Price | Change (%) |
| Tata Motors Share Price | 976.30 | -5.74 |
| ONGC Share Price | 285.30 | -3.48 |
| Wipro Share Price | 514.35 | -2.17 |
| SBI Share Price | 768.60 | -1.80 |
| Hindalco Share Price | 647.70 | -1.79 |
Market aftermath: Impact on stocks
Bajaj Auto Hits All-Time High with 6% Gain
Shares of Bajaj Auto hit an all-time high, rising 4% to Rs 11,498 per share. Over the past month, the stock has surged by 17%, significantly outperforming the broader market. The rally was supported by healthy sales figures in August, which showed a 16% year-on-year growth in total vehicle wholesales.
The stock’s momentum is backed by strong demand for its two-wheelers in both domestic and export markets, giving investors confidence in its long-term prospects.
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Prism Johnson Surges 15%
Prism Johnson saw its stock skyrocket 15%, hitting a new record high of Rs 246 on the NSE, driven by heavy trading volumes. The company’s stock has gained around 69% in the past year, compared to a 28% rise in the Nifty 50 index.
This massive surge prompted the BSE to seek clarification on the unusual trading activity. The company is one of India’s largest integrated building material firms, and its strong market position has continued to fuel investor interest.
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Shoppers Stop Jumps 10%
Shares of Shoppers Stop surged by 10%, reaching a fresh all-time high of Rs 899.5 per share. Trading volume jumped to over 14 lakh shares, much higher than the one-month daily average of 76,000 shares.
The stock has delivered 26% returns over the past year, reflecting strong investor sentiment around its retail performance and future growth potential in India’s evolving consumer market.
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Crude oil price decline
Oil India and ONGC saw significant declines in their stock prices, with Oil India dropping by 6% and ONGC falling by 3%. The declines were driven by bearish forecasts for crude oil prices, which fell to three-year lows amid concerns over weak global demand.
Despite these setbacks, analysts expect a rebound in oil prices to $75-80 per barrel, which could provide some relief to these state-owned upstream oil companies in the near future.
Conclusion
The Indian stock market faced a challenging day with profit booking and global factors impacting overall sentiment. While some stocks like Bajaj Auto and Shoppers Stop saw record highs, others, particularly in the small-cap and oil sectors, faced significant losses.
As the market looks ahead to key global economic data, volatility is likely to persist. However, optimism remains for key sectors like auto and IT, which continue to show strength amid broader market weakness.
Stay tuned on StockGro for more updates on market trends.
