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Indian stocks hit 6-month low amid sector declines
1 Oct
Summary
- Nifty 50 index reached a new 6-month low, falling 0.42%.
- Consumer Durables, Metals, and FMCG sectors experienced losses.
- Banking stocks like ICICI and Kotak Mahindra showed gains.
Indian stock markets concluded Wednesday's trading session on a subdued note, with key indices registering declines. The Nifty 50 index fell by 0.42%, reaching a fresh six-month low. Similarly, the BSE Sensex 30 index experienced a minor dip of 0.07%.
The downturn was primarily driven by losses in the Consumer Durables, Metals, and Fast Moving Consumer Goods sectors. These sectors weighed heavily on the overall market performance.
However, the banking sector provided some support, with notable gains seen in companies like ICICI Bank Ltd., Kotak Mahindra Bank Ltd., and IndusInd Bank Ltd. These financial institutions managed to buck the broader market trend.
Conversely, Apollo Hospitals Enterprise Limited was among the session's worst performers, with a significant drop. SBI Life Insurance Company Ltd and Adani Enterprises Ltd also closed lower.
Commodities saw mixed movements, with Gold Futures and Crude Oil prices rising. The USD/INR currency pair experienced a slight decrease.
