Market Overview: Decline in Indian Stock Markets on September 18
On September 18, the Indian stock markets faced a downturn, with the Sensex witnessing a decline of 131.43 points, closing at 82,948.23, while the Nifty finished below the 25,400 mark at 25,377.55. Investors adopted a cautious stance ahead of the upcoming US Federal Reserve meeting, where expectations are leading to speculations of potential interest rate cuts. The day witnessed a considerable drop in market capitalization, with an estimated loss of nearly Rs 2.92 lakh crore in investor wealth.
Market Statistics
The market capitalization for companies listed on the Bombay Stock Exchange (BSE) fell from Rs 470.29 lakh crore to Rs 467.37 lakh crore on this trading day. This decline of approximately Rs 2.92 lakh crore is indicative of the current market volatility.
Trading Trends
The trading session reflected a noticeable trend of profit booking, especially in the IT sector, which has been under pressure recently. Excluding the banking and financial services sectors, all remaining stock indices closed in negative territory. Key sectors such as pharmaceuticals, oil and gas, and consumer durables experienced declines of over 1%.
Performance of Key Indices
| Index | Closing Value | Change (Points) | Change (%) |
|---|---|---|---|
| BSE Sensex | 82,948.23 | -131.43 | -0.16% |
| NSE Nifty | 25,377.55 | -41.00 | -0.16% |
Top Gainers on Sensex
Among the BSE Sensex stocks, 11 out of 30 closed positively. Notable gainers included:
- Bajaj Finance: +3.65%
- Bajaj Finserv: +2.11%
- ICICI Bank: +1.54%
- Nestle India: +2.02%
- HDFC Bank: +1.79%
Top Losers on Sensex
The majority of Sensex stocks finished in the red, with the following stocks facing significant declines:
- Tata Consultancy Services (TCS): -3.49%
- Infosys: -2.80%
- Tech Mahindra: -2.56%
- HCL Tech: -1.79%
- Sun Pharma: -3.09%
Market Breadth
The trading volume on the BSE indicated a bearish sentiment, as 4,070 stocks were traded, with:
- 1,526 stocks rising
- 2,442 stocks declining
- 102 stocks remaining flat
Additionally, 276 stocks reached new 52-week highs, while 27 stocks fell to new 52-week lows during the session.
Disclaimer
The above market analysis provides insights into current market trends; however, investing in stock markets is subject to risks. It is advisable for investors to consult market experts before making investment decisions.
