Stock Market Today: The Indian stock market continued its one-step-forward, one-step-back trajectory, with the benchmark indices experiencing a sharp pullback in trade on Thursday, October 30.
Diminishing hopes of a rate cut by the US Federal Reserve and weakness in the global markets rubbed off on investor sentiment back home.
BSE Sensex shed 593 points or 0.70% to end at 84,404. Its NSE counterpart, Nifty 50, settled the day at 25,878, down 176 points or 0.68%.
The broader markets outperformed, with the BSE Midcap index unchanged and the BSE Smallcap index shedding 0.06%.
10 key highlights from stock market today
Here are 10 key highlights from today’s trading session:
1. Why did Sensex, Nifty fall today?
While the US Fed cut rates by 25 bps as expected, a cautious tone by chair Jerome Powell, hinting that it could be the last such reduction for 2025, derailed market sentiment.
Vinod Nair, Head of Research, Geojit Investments, said as expected, the U.S. Fed cut interest rates by 25 bps. However, the market consolidated after Powell indicated that this might be the last rate cut of 2025, tempering hopes of further monetary easing, he opined.
“The resulting strength in the U.S. dollar contributed to a risk-off sentiment across emerging markets, including India. Domestically, mixed Q2 earnings and the F&O expiry led to market volatility. Meanwhile, investors remain watchful of the Trump–Xi trade negotiations, as the prevailing uncertainty around the discussions continues to keep market sentiment cautious,” he added.
2. Top Nifty 50 gainers
Only 10 Nifty 50 stocks closed in the green. PSU stock Coal India was the best performer as it rose 1.58% following its Q2 results a day ago. L&T, Hindalco, BHEL and Nestle India were among the other top gainers.
3. Top Nifty 50 losers
40 Nifty stocks settled with cuts, among which pharma stocks Dr Reddy’s Labs and Cipla, down 3.79% and 2.54%, respectively, were the top losers.
HDFC Life, IndiGo and Bharti Airtel also ended deep in the red, shedding up to 1.50%.
4. Most active stocks
Vodafone Idea remained the most traded stock on the NSE in volume terms as over 241 crore shares of the telecom company changed hands. Sagility India, Canara Bank, Suzlon and YES Bank also witnessed high volumes between 8 crore and 55 crore in trade today.
5. Six stocks rise over 10%
On NSE, six stocks rallied over 10% today. Keynote Financial Services, and Eurotex Industries and Exports were the top gainers, surging 20% each. Associated Alcohols & Breweries, South West Pinnacle Exploration, Sarthak Metals and Kellton Tech were among other lead gainers, which jumped up to 15.9% today.
6. Four stocks fall over 10%
OCCL Limited emerged as the top loser on NSE today, crashing 19.27%. It was followed by Ixigo, which shed 16.5% following its Q2 results announcement a day prior. Delphi World Money RE shares and Zim Laboratories also declined over 10% today.
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