MARKET UPDATE:Sensex down 115 points at 60,706 while Nifty below 18,100 mark, down 60 points
Published On: Monday, October 25, 2021 | By: Team KnowMyStock
The Indian markets were off to a volatile start today(25th Oct.2021) as investors assessed the September quarter results of index heavyweights. Meanwhile, the choppy Asian market mood also rubbed off on investor sentiment back home. At 9.30 am, Sensex was down 115 points at 60,706 while Nifty was below the 18,100 mark, down 60 points. Nifty Realty was the worst sectoral performer, followed by Pharma, IT, and FMCG. The banking and financial sectors held ground in an otherwise weak market. Broader markets tumbled in tandem with benchmarks, while the volatility index, India VIX, spiked 5%.
Technical analysts expect the Nifty to find resistance at 18,500 in the coming week after declining for four straight days last week. Nifty closed at 18,114.90 on Friday. Analysts said the broader trend remains positive, with financials likely to outperform in the coming days but midcaps may fall further.
The Index heavyweights Reliance Industries and ICICI Bank failed to keep benchmark indices in the positive territory even as both the companies posted a strong September quarter earnings' show. FMCG, IT, Metal, Pharma, and Realty sectors were trading in the negative territory, exerting pressure on the indices. Among individual stocks, Asian Paints (down over 2.5 per cent), Divis Labs, IndusInd Bank, Bajaj Auto, HCL Tech, Shree Cement, Maruti Suzuki, and Titan were the top laggards on the Nifty50.
The Nifty Bank index, however, was ruling over a per cent higher at 40,755, after hitting a record high of 41,024 earlier today.
Tags: MARKET UPDATE:Sensex down 115 points at 60 706 while Nifty below 18 100 mark down 60 points. Volatile markets Sensex Nifty September quarter results choppy Asian market
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