The Indian stock market saw divergence in its benchmark indices for the second consecutive session, with Sensex closing in the red and Nifty in the green following sharp swings during the closing auction session (CAS).
Sensex and Nifty both traded in the green before the CAS began at 3.20 pm. The indicative prices of both the benchmark indices sharply tumbled, with Sensex plunging nearly 1,000 points within a few seconds, before making a sharp recovery. While Nifty managed to recover all losses during the CAS, Sensex ended with marginal losses in the red despite a sharp rebound.
Overall, Sensex lost around 20 points or 0.03% to close at 74,295 while Nifty 50 gained 76 points or 0.33% to end the session at 23,346 on Friday. Broader markets sharply outperformed, with Nifty Smallcap 100 and Nifty Midcap 100 indices rising up to 1.7%.
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Here’s how analysts read the market pulse
Indian equities extended their recovery as moderation in crude and global yields improved risk appetite, despite concerns around the continued geopolitical uncertainty. Investor sentiment was further supported by positive global cues following largely anticipated policy actions from major central banks, said Vinod Nair, Head of Research at Geojit Investments.
The rebound was broad-based across sectors, although IT stocks declined amid profit booking, as concerns lingered that prolonged higher-interest-rate could weigh on global tech spending, he added. While the recent moderation in oil prices and yields has provided near-term relief, the sustainability of the market recovery will depend on further easing of global macro risks and a meaningful revival in foreign investor inflows, the analyst further said.Also read | CAS chaos continues: Sensex indicative price tumbles nearly 1,000 points in seconds, closes in red but Nifty ends above 23,300
US Stocks
US markets ended mixed on Friday as investors weighed easing crude prices against the US 10-year Treasury yield hovering around 5%. The S&P 500 gained 0.17%, while the Nasdaq Composite advanced 0.39% on strength in technology stocks. The Dow Jones Industrial Average, however, slipped 0.18% as elevated bond yields kept broader sentiment cautious.
European markets
European markets closed sharply lower on Friday amid concerns over elevated interest rates and continued geopolitical uncertainty. Germany’s DAX fell 1.60% to 25,304.06, while France’s CAC 40 declined 1.49% to 8,065.02. Britain’s FTSE 100 also ended lower, with weakness across major European equities despite a retreat in crude oil prices.
Most active stocks in terms of turnover
HDFC Bank (Rs 2,868 crore), Bharti Airtel (Rs 2,655 crore), Adani Gas (Rs 2,565 crore), Infosys (Rs 2,319 crore), RIL (Rs 1,867 crore), Lenskart Solutions (Rs 1,810 crore) and Syrma SGS Technologies (Rs 1,806 crore) were among the most active stocks on NSE in value terms. Higher activity in a counter in value terms can help identify the counters with the highest trading turnovers in the day.
Most active stocks in volume terms
Vodafone Idea (Traded shares: 35 crore), Meesho (Traded shares: 8.34 crore), Yes Bank (Traded shares: 7.36 crore), Groww (Traded shares: 7.3 crore), Pine Labs (Traded shares: 6.68 crore), Suzlon Energy (Traded shares: 6.35 crore) and IFCI (Traded shares: 6.05 crore) were among the most actively traded stocks in volume terms on NSE.
Stocks showing buying interest
Adani Gas, Poonawalla Fincorp, Welspun Corp, Bombay Burmah, Supreme Petro, Supreme Industries and Jyoti CNC Automation were among the stocks that witnessed strong buying interest from market participants.
52-week high
Among the ones which hit their 52-week highs on NSE included Jyoti CNC Automation, Syrma SGS Technology, JSW Infrastructure, Apar Industries, ACME Solar Holdings, Emcure Pharmaceuticals and PVR Inox.
Stocks seeing selling pressure
Stocks which witnessed significant selling pressure were Tata Chemicals, Go Digit General Insurance, KPIT Tech, Tata Technologies, New India Assurance, Zydus Wellness and TCS..
52-week low
Among the ones which hit their 52-week lows on NSE included Go Digit General Insurance, KPIT Tech, Tata Elxsi, Gillette India, Syngene International, Bayer Cropsciences and Voltas.
Sentiment meter favours bulls
Out of the 3,653 stocks that traded on the NSE on September 18, Friday, 2,387 stocks witnessed advances, 1,154 stocks saw declines while 112 stocks remained unchanged.
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