In a session marked by selling pressure in financial, auto, and FMCG shares, the Nifty50 and Sensex closed lower, with the Sensex down 0.3% and Nifty50 down 0.1%. The market saw only brief moves above the flatline, with the Nifty50 moving within the 24,900-25,000 range. The top losers in the Nifty50 basket included M&M, ICICI Bank, Cipla, Adani Enterprises, and Maruti Suzuki, while top gainers included Trent, Hindalco, HCLTech, Tech Mahindra, ONGC, and JSW Steel. Despite the overall weak market trend, midcap and smallcap shares bucked the trend, with gains of 0.5% each in the Nifty Midcap and Nifty Smallcap indices. Keep up with the latest stock market updates and all other business news on Zeebiz.com.
Downward Trend in Indian Share Market: Nifty and Sensex Close Lower
The Indian share market witnessed a downward trend on Tuesday, with the Nifty50 and Sensex closing lower due to selling pressure in financial, auto, and FMCG shares.
Market Movement and Key Losers
The Nifty50 opened at 24,949.60, briefly rising above the flatline before slipping back. The index moved within the 24,900-25,000 range throughout the session, eventually closing at 24,918.60, down 0.1%.
The Sensex also opened higher at 83,361.02, but it too succumbed to selling pressure, closing at 82,888.20, a decline of 0.3%.
Among the top losers in the Nifty50 basket were:
Top Gainers and Industry Performance
Despite the overall market decline, a few stocks managed to buck the trend and finish in the green. Among the top gainers in the Nifty50 were:
Interestingly, midcap and smallcap shares outperformed the broader market, with the Nifty Midcap and Nifty Smallcap indices gaining 0.5% each.
Factors Contributing to Market Decline
Analysts attributed the market decline to several factors, including:
Top 5 FAQs and Answers
Q: What caused the decline in the Indian share market today? A: Selling pressure in financial, auto, and FMCG shares, along with concerns over global economic slowdown and rising interest rates.
Q: Which sectors performed well despite the market decline? A: Midcap and smallcap shares bucked the trend and gained 0.5% each.
Q: What was the closing level of the Nifty50 index? A: 24,918.60, down 0.1%.
Q: What was the top loser in the Nifty50 basket? A: M&M, down 2.5%.
Q: What was the top gainer in the Nifty50 basket? A: Trent, up 2.9%.
The Dhanteras festival proved to be a boon for Indian traders as consumers defied surging gold prices and spent an estimated Rs 1 lakh crore on the auspicious day. The Confederation of All India Traders (CAIT) reported a 25% increase in gold and silver sales, making up a significant portion of the total expenditure. Despite the economic slowdown, the tradition of purchasing gold and other items symbolising prosperity on Dhanteras remains strong, highlighting the cultural significance of the festival.
Union Railway Minister Ashwini Vaishnav, at the International Railway Equipment Exhibition (IREE), highlighted India's remarkable progress in railway modernisation, stating that under the leadership of Prime Minister Narendra Modi, the country has witnessed the construction of 35,000 kilometres of new railway tracks and electrification of 46,000 kilometres of tracks in the past 11 years. He praised the Confederation of Indian Industry (CII) for organising the IREE and urged them to think bigger and envision a global-scale railway exhibition that surpasses Germany's InnoTrans, showcasing India's growing capabilities in railway infrastructure and technology.
On Friday, the IRCTC website and mobile app faced technical issues, causing an outage and inconvenience to over 5,800 users trying to book tickets. Social media platforms were flooded with complaints as the server crashed during peak booking hours, with some suggesting the need for better technology to handle festive rush. Officials have assured that efforts are being made to restore normal operations.
In a boost for the festive season, Indian Railways has launched two special Vande Bharat trains between Delhi and Patna. These trains will run till November 17 and offer a luxurious and secure travel experience for passengers during Diwali and Chhath Puja. With stops at six important stations, these trains will cover a distance of 1,000 km in under 14 hours.
As India prepares for Dhanteras 2025, gold has already become the star of the show, with prices surging more than 50% this year and showing no signs of slowing. The combination of global and domestic factors, including safe-haven demand, central bank buying, and economic uncertainty, has pushed gold to an all-time high of over Rs 1,30,000 per 10 grams. As investors flock to add the precious metal to their portfolio, experts predict a continued upward trend, driven by lower interest rates, de-dollarisation, and geopolitical tensions.
India’s economy and markets are seeing a resurgence, with PE and VC investments soaring to a three-year high of $26 billion in 2025. The country’s growing affluence and digital transformation have spurred a luxury market boom, with high-end brands rushing in to meet the demand. The trend is supported by a shift towards larger, more strategic investments in sectors such as IT and consumer staples.
MCX December gold futures on the Multi Commodity Exchange (MCX) skyrocketed by 1.4%, reaching an all-time high of ₹1,32,770 per 10 grams. Meanwhile, silver prices dropped slightly on the MCX to ₹1,85,000 per kilogram. The surge in gold prices can be attributed to a weaker US dollar, strong spot demand, and positive global cues, making gold an attractive investment option. However, the rising prices may have an impact on shoppers this Diwali, as the cost for 10 grams of 24-carat gold has surpassed ₹1.3 lakh. Despite this, jewellers remain optimistic, as increased household liquidity and positive economic indicators continue to encourage discretionary spending.
The well-known fitness club chain, Planet Fitness, has recently opened a new location in Monument, Colorado. Located at 16096 Jackson Creek Parkway, the club will hold its official grand opening on Saturday with a celebratory event at 10 a.m. This new location promises to offer residents of Monument a state-of-the-art fitness facility and a wide range of amenities.
The CEO of Virgo Specialities Pvt Ltd, Ketan Kadam, has been denied bail for the second time for his alleged involvement in the Mithi river desilting scam. The sessions court noted that Kadam has "direct involvement" in the crime, having "managed money received from contractors in his shell companies." According to the Economic Offences Wing (EOW), Kadam and others conspired to defraud the Brihanmumbai Municipal Corporation (BMC) through irregularities in the tendering process. Kadam is accused of manipulating the terms and conditions of the tenders to benefit his company and causing losses to the BMC.
As India's luxury market continues to see a rise in demand, M3M India, one of the biggest real estate developers in Delhi-NCR, has announced the launch of Jacob & Co. Residences in Noida. This will be the first residential development in India under the iconic Jacob & Co. brand, and is expected to generate a topline of ₹3500 crore. The project will feature ultra-luxury serviced residences and limited-edition Jacob & Co. timepieces, elevating the ownership experience to a whole new level. With this venture, M3M aims to bring a truly global lifestyle to homebuyers in Noida and contribute to the nation building vision of Prime Minister Narendra Modi.