Stock Market Today: Benchmark equity indices gave up their initial gains to settle in the red on Monday, led by a sell-off across sectors. The BSE Sensex shed 638.45 points or 0.78 per cent to settle at 81,050. Similarly, the NSE Nifty50 fell 218.85 points or 0.87 per cent to end the week’s first trading session at 24,795.75.
Bears took control on D-Street as 40 out of 50 constituent stocks of Nifty50 ended in the red, dragged down by Adani Ports, BEL, NTPC, Coal India, and Adani Enterprises, with losses extending up to 4.29 per cent.
Midcap and Smallcap indices were among the broader markets, with Nifty Midcap 100 and Nifty Smallcap 100 indices ending down by 2.01 per cent and 2.75 per cent, respectively.
Global Cues
Meanwhile, Asian stocks rallied and the dollar reached a fresh seven-week peak on the yen on Monday after a blowout US labour data dispelled fears of a recession and spurred a sharp paring of rate-cut bets.
Short-term US Treasury yields rose after the closely watched non-farm payrolls report on Friday showed the economy unexpectedly added the most jobs in six months in September.
Crude oil prices eased from a one-month peak even as Israel bombed targets in Lebanon and the Gaza Strip, with Monday marking one year since the Hamas attack that triggered the war.
Japan’s Nikkei led regional equity gains with a 2 per cent rally as of 5:45 AM, given additional momentum by the softer yen.
Australia’s stock benchmark added 0.12 per cent and South Korea’s Kospi gained 0.29 per cent.
Hong Kong’s Hang Seng had yet to open, and mainland Chinese stocks remain closed until Tuesday for the Golden Week holiday.
MSCI’s broadest index of Asia-Pacific shares climbed 0.4 per cent.
US Dow futures pointed 0.08 per cent higher after the cash index closed at an all-time peak after the payrolls data on Friday.
