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%.
In an effort to reduce reliance on China for key minerals used in advanced technologies, India is exploring partnership with a rebel group in Myanmar to secure rare earth samples. The Ministry of Mines has directed state-owned and private companies to collect samples from Kachin Independence Army-controlled mines and test them in domestic labs. This move comes in light of China's recent export restrictions on rare earth magnets, causing disruptions in global supply chains.
Oracle chairman Larry Ellison, who hails from the Bronx, has surpassed Tesla CEO Elon Musk as the richest person in the world with a net worth of $405 billion. This jump in wealth was reported by Barron's on Wednesday, putting Ellison ahead of Musk's net worth of $390 billion. This milestone marks a shift in the top spot amongst the world's wealthiest individuals.
The US Producer Price Index fell 0.1% in August, bucking expectations of a rise and indicating a potential slowdown in overall economic growth. The decline was driven by a slump in the cost of services, particularly within wholesalers and retailers. The news has led to a drop in Treasury yields and solidifies expectations of an interest rate cut by the Federal Reserve next week.
The Hilton Kathmandu, once a symbol of Nepal's ambition and modern design, recently fell victim to violent anti-government protests. The hotel, built by the Shanker Group with a significant investment and featuring luxurious amenities and seismic safeguards, opened in 2024 but tragically, went up in flames a year later. The Hilton was not just a hotel, but a cultural statement, embodying Nepalese heritage and offering breathtaking views of the Langtang range.
In a shocking incident, a brand-new Mahindra Thar crashed through a glass wall and landed on the road below in Delhi's Preet Vihar. The SUV had just been purchased by a couple who were inside the vehicle at the time with a showroom salesman. Fortunately, no one was seriously injured in the accident. The incident, captured on video, has gone viral on social media. Police are investigating the cause of the incident.
Delhi-based manufacturer Vikas Ecotech has acquired an existing Plasticizer Manufacturing Business, valued at Rs 270 million, in an all-cash deal. With this acquisition, the company aims to enhance its product offering and become debt-free by 2023-24. This move comes after the firm recently paid off Rs 101 crore of its debt to lenders.
The Indian Express has obtained information that the Registrar General of India has requested a budget of Rs 14,618.95 crore for the upcoming Census 2027. This will be the first "digital census" and will include the collection of caste data through dedicated mobile applications. The option for self-enumeration will also be provided to the public. Additionally, Indian refiners have saved approximately $12.6 billion in the past three years through their Russian oil imports, which has caused tensions with the Trump administration.
The Trump administration's latest move has caused major disruptions in the Indian export industry with the imposition of 50% tariffs on Indian goods. Sectors such as apparel, textiles, gems, and jewelry will bear the brunt of the higher tariffs, putting low-skilled jobs in India at risk. India's response has been to extend tariff exemptions on cotton imports, but many are criticizing the government for not taking strong action against the US. Political figures like Saurabh Bhardwaj and Akhilesh Yadav have slammed the BJP-led government for its failed foreign and economic policies which are negatively impacting traders, manufacturers, and workers.
The highly anticipated 2025 model of the popular Suzuki Access 125 has finally been unveiled at the Auto Expo. While it comes in three variants and boasts 5 different colour options, there are complaints about the fluctuating mileage and poor design choices such as fixed mirrors. With tough competition in the two-wheeler market, Suzuki may need to offer attractive deals to customers to stay ahead.
At the Plumbex India exhibition, Minister Hardeep S Puri launched the BHARAT TAP initiative, which aims to improve products and services related to plumbing, water, and sanitation. In his speech, Puri emphasized the importance of sanitation in India's development and praised the success of the Swachh Bharat Mission and AMRUT in achieving 100% toilet coverage in rural areas and significant progress in urban areas. He also announced the launch of AMRUT 2.0, with an outlay of Rs. 2,77,000 crores, to further strengthen water and sanitation services in cities.