Sensex, Nifty 50 snap 4-day winning streak, investors lose ₹2 lakh crore— 10 key highlights from Indian stock market

Stock market today: The Indian stock market ended lower on Wednesday, October 8, with the benchmark indices snapping their four-day winning streak amid profit booking ahead of the September-quarter (Q2) results season.

The Sensex ended 153 points, or 0.19%, lower at 81,773.66, while the Nifty 50 closed with a loss of 62 points, or 0.25 per cent, at 25,046.15. The BSE Midcap and Smallcap indices underperformed, falling 0.74% and 0.42%, respectively.

Investors lost more than ₹2 lakh crore in a single session as the overall market capitalisation of BSE-listed firms dropped to below ₹458 lakh crore from over ₹460 lakh crore in the previous session.

Indian stock market: 10 key highlights from the day

1. Why did the Indian stock market fall today?

The domestic stock market ended lower on profit booking ahead of the start of the Q2 earnings season. IT major TCS will announce its earnings for the September quarter on Thursday, October 9.

Weak global cues and a lack of fresh positive triggers also kept sentiment subdued.

"National indices witnessed a volatile session, tempered by profit booking after a sharp rally. Investor caution dominated ahead of the Q2 earnings season, as market participants reassessed valuations and growth prospects," said Vinod Nair, Head of Research, Geojit Investments.

"Attention now turns to the September FOMC minutes for signals on the Fed’s policy stance. Going forward, while global developments remain relevant, market focus is likely to shift toward domestic earnings, macroeconomic data, and the upcoming festive season," Nair said.

2. Top gainers in the Nifty 50 index today

Titan Company (up 4.29 per cent), Infosys (up 2.30 per cent), and TCS (up 1.94 per cent) ended as the top gainers.

3. Top losers in the Nifty 50 index

Shares of Tata Motors (down 2.54 per cent), Mahindra and Mahindra (down 1.94 per cent), and Jio Financial Services (down 1.68 per cent) ended as the top losers. As many as 36 stocks ended lower in the Nifty 50 index.

4. Sectoral indices today

Except for Nifty IT (up 1.51 per cent) and Consumer Durables (up 0.71 per cent), all sectoral indices ended in the negative on Wednesday.

Nifty Realty (down 1.83 per cent), Media (down 1.71 per cent), and Auto (down 1.53 per cent) closed as the top losers.

Nifty Bank and Financial Services indices lost 0.39 per cent and 0.45 per cent, respectively.

5. Most active stocks in terms of volume

Vodafone Idea (105.9 crore shares), YES Bank (9.7 crore shares), and PC Jeweller (7.3 crore shares) were the most active stocks in terms of volume on the NSE.

6. 16 stocks jump over 15% on BSE

Keynote Financial Services, Aksh Optifibre, Eimco Elecon (India), Zinema Media and Entertainment, Salzer Electronics, and We Win were among the 16 stocks that jumped by more than 15 per cent on the BSE.

7. Advance-decline ratio

Out of 4,330 stocks traded on the BSE, 1,740 advanced, while 2,435 declined. Some 155 stocks remained unchanged.

8. Over 160 stocks hit 52-week highs

As many as 161 stocks, including Hero MotoCorp, Canara Bank, MRF, and Muthoot Finance, hit their 52-week highs in intraday trade on the BSE.

9. 144 stocks hit 52-week lows

SpiceJet, Clean Science and Technology, Crompton Greaves Consumer Electricals, Happiest Minds Technologies, Vedant Fashions, and Signatureglobal (India) were among the 144 stocks that hit their 52-week lows on the BSE.

10. Nifty's technical outlook

According to Shrikant Chouhan, the head of equity research at Kotak Securities, as long as the market remains below 25,150, weak sentiment is likely to continue on the downside, with potential slips to 25,000-24,950.

Further downside may also persist, which could drag the market down to 24,850. On the other hand, if the market moves above 25,150, it could rise to 25,250-25,300, said Chouhan.

Hrishikesh Yedve, AVP Technical and Derivative Research, Asit C. Mehta Investment Intermediates, said on the daily chart, the Nifty formed a red candle with a long upper shadow, indicating profit booking at higher levels.

He underscored that on the downside, the 21-DEMA is placed near 24,950, while the 50-DEMA support is positioned around 24,910 — both acting as key support levels in the short term.

"The immediate hurdle for the index is placed near 25,220, and a sustained move above this level could open the path towards 25,450, where the trend line resistance is positioned. Overall, we expect Nifty to consolidate within the 24,900–25,450 range in the short term," said Yedve.

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