Bharat Express

Business

The benchmark indices fell by over 1 percent as Sensex dropped 836 points, or 1.04 percent, ending at 79,541.79. Nifty also declined by 284.70 points, or 1.16 percent, closing at 24,199.35

Gold prices fluctuated sharply between Rs 78,500 and Rs 77,500 per 10 grams. The dollar index surged to 105, pushing gold to lows of Rs 77,500 per 10 grams and $2,700 internationally, noted Jateen Trivedi of LKP Securities

Indian stock markets opened sharply lower on Thursday, with major indices Sensex and Nifty down around 1% in early trading due to widespread selling pressure across several sectors, including metal, auto, financial services, pharma, FMCG, energy, private banking, and infrastructure.

The Sensex closed at 80,378.13, up by 901.50 points or 1.13%, while Nifty ended at 24,484, gaining 270.75 points or 1.12%

RBI Governor Shaktikanta Das clarified that the shift to a neutral monetary policy stance does not indicate an imminent interest rate cut.

Indian markets opened with positive momentum, driven by gains in sectors like real estate, media, energy, banking, and infrastructure.

Analysts predict that the stock could drop closer to the Rs 70 mark. Ola Electric debuted on the stock market at Rs 76 and saw a brief rally before a continuous decline

The Sensex slipped slightly by 68.22 points, or 0.09%, to trade at 78,714.02, while the Nifty edged down 5.85 points, or 0.02%, to 23,989.50. Of the stocks listed on the National Stock Exchange (NSE), 1,409 were trading in the green, while 840 remained in the red.

The stock market saw the Sensex drop over 900 points amid concerns over the US presidential election and the Federal Reserve's policy meeting.

By early afternoon, the Nifty Bank index had tumbled to 51,097.95, down 575.95 points or 1.11%. The Nifty Midcap 100 index also suffered, dropping 824.85 points or 1.46% to reach 55,671.20, while the Nifty Small Cap 100 index fell 410.75 points, or 2.19%, settling at 18,384.