Top Nifty losers were ITC, Nestle, Reliance Industries, ONGC, HUL, while gainers included Trent, Cipla, Tata Motors, SBI and Maruti Suzuki. BSE Midcap and Smallcap indices up more than 1 percent each. Among sectors, except FMCG (down 1.3 percent) and oil & gas (down 0.6 percent), all other indices ended in the green with pharma, power, realty up 1-2 percent.
Benchmark indices SENSEX and NIFTY closed flat on Wednesday, October 9, amid a buoyant mood after the Reserve Bank of India’s (RBI) decision to maintain the repo rate in its latest policy review.
NIFTY50 closed below the 25,000 mark at 24,981 points, down by 31 points, or 0.12%, while the BSE SENSEX closed at 81,467, down by 167 points, or 0.21%.
The key indices dropped to intraday lows of 24,947 and 81,342 points, respectively, earlier in the session.
Sectoral indices NIFTY Pharma and NIFTY Healthcare Index closed higher by 2.04% and 1.85%, respectively. On the other hand, the NIFTY FMCG and NIFTY Oil & Gas closed lower by 1.57% and 0.67%, respectively.
Out of the 50 NIFTY constituents, 19 closed in the red, dragged down by ITC, Nestle India, and ONGC shares.
Cipla and Trent emerge as top gainers
Among other NIFTY constituents, Bajaj Finance, Bharti Airtel and Maruti Suzuki India closed higher by up to 1.69%.
ITC and Nestle India among the top losers
Britannia Industries, Larsen & Toubro, and IndusInd Bank, among other NIFTY stocks, declined up to 1.36%.
Market Close| Sensex, Nifty end marginally lower
Indian equity indices ended marginally lower in the volatile session on October 10. At close, the Sensex was down 167.71 points or 0.21 percent at 81,467.10, and the Nifty was down 31.20 points or 0.12 percent at 24,982.
We wrap up today’s edition of the Moneycontrol live market blog, and will be back tomorrow morning with all the latest updates and alerts. Please visit https://www.moneycontrol.com/markets/global-indices for all the global market action.
Prashanth Tapse, Senior VP at Research, Mehta Equities
For markets to perform well going ahead, strong conviction is required and earnings season will be the key thing to look out for over the next few weeks.
Vinod Nair, Head of Research, Geojit Financial Services
An upward revision in Q3FY25 inflation reiterates that the sticky inflation continues to remain a concern for the RBI and led investors to book profit towards the close. The volatility in input prices and the impact on margin dragged the FMCG stocks. The change in RBI’s stance to neutral was favourable and expected, but the commentary is not pointing for a rate cut in the near term. Meanwhile, the investor’s sentiment is buoyed on the broad market taking opportunity on a stock-to-stock basis, to capitalise from the recent correction.
Rupak De, Senior Technical Analyst, LKP Securities
The Nifty opened higher but struggled to maintain gains, leading to a weaker close. On the hourly chart, the index closed just above the 20DMA, indicating that the very short-term trend remains positive and is likely to stay so as long as it holds above 24,940. However, a drop below 24,940 could trigger a correction down to 24,800/24,700. On the upside, 25,100 may act as resistance.
Anuj Choudhary – Research Analyst at Sharekhan by BNP Paribas
Indian Rupee remained steady today as the Reserve Bank of India (RBI) left Repo rate and CRR unchanged at 6.5% and 4.5% respectively, in line with street expectations. It changed its stance to ‘neutral’. The central bank left CPI Inflation projection for FY25 unchanged at 4.5%. It also left GDP growth forecast for FY25 was unchanged at 7.2%. In Q2FY25, Q3FY25, Q4FY25, and Q1FY26 it expects GDP growth at 7.0%, 7.4%, 7.4% and 7.3% respectively with risk broadly balance. Positive domestic markets and a decline in crude oil prices supported the Rupee. However, a positive US Dollar capped sharp gains.
We expect Rupee to trade with a negative bias on selling pressure from FIIs and geopolitical tensions in the Middle East. A strong US Dollar may further pressurise the Rupee. Dollar is trading at the highest levels in 8 weeks. However, a recovery in the domestic markets and weak crude oil prices may support the Rupee at lower levels. Traders may take cues from FOMC meeting minutes for further cues on the Fed’s rate cut path. USDINR spot price is expected to trade in a range of Rs 83.80 to Rs 84.20.
Brokerage Call | Emkay upgrades Escorts to buy, target at Rs 4,700
#1 Valued at 30x Sep’26 PE + Rs 320 cash per share
#2 Recently concluded monsoons lifts outlook for upcoming crop cycles
#3 Industry base turning favorable
#4 Intent to increase sourcing from India key mid-to-long term driver
Sensex Today | BSE Oil & Gas index down 0.7%; ONGC, RIL among major losers
| Company | CMP | Chg(%) | Volume |
|---|---|---|---|
| ONGC | 288.40 | -1.77 | 532.29k |
| Reliance | 2,747.00 | -1.75 | 288.83k |
| GAIL | 222.50 | -1.02 | 355.81k |
| Petronet LNG | 352.00 | -0.64 | 78.91k |
| Adani Total Gas | 756.80 | -0.42 | 79.35k |
| IGL | 531.80 | -0.07 | 138.36k |
Brokerage Call | Citi maintains ‘buy’ rating on IGL, target at Rs 620
#1 CNG vehicle base is on course to grow by 9 percent this year which is positive for volume growth revival
#2 End of road tax waivers on EVs in Delhi could impact attractiveness
#3 Volume growth revival positive includes CNG 2-wheeler sales which are witnessing traction
#4 Concerns on sharp petrol/diesel price cuts have abated following recent upmove in crude prices
Brokerage Call | Citi initiates ‘buy’ call on Divis Labs, target at Rs 6,400
