Closing Bell: Sensex, Nifty End in Red; Cipla Leads Gainers on October 31
Summary: The Sensex and Nifty closed lower on October 31, 2024, with Cipla leading the gainers after a 9.5% rise. Key losers included HCL Technologies and Tech Mahindra Limited.
On October 31, 2024, both the BSE Sensex and NSE Nifty50 closed in negative territory. The Sensex ended at 79,389.06, down by 553.12 points, or 0.69%, while the Nifty50 closed at 24,205.35, shedding 135.50 points, or 0.56%.
Key Highlights
- Cipla shares surged 10% following USFDA approval for an important drug.
- The rupee hit a record low, trading at 84.09 against the dollar amid continued outflows.
- The Nifty IT index fell by 3%, weighing on overall market sentiment.
- Dabur shares dipped after reporting a decline in Q2 profits.
- Both Sensex and Nifty dropped, pressured by weaker corporate earnings and ongoing foreign fund outflows, reflecting global market conditions.
Sectoral Performance
NIFTY Media, NIFTY Pharma, and NIFTY Healthcare ended in positive territory. However, Nifty Bank, Nifty Auto, and Nifty Financial Services closed in the red. Nifty FMCG and Nifty Consumer Durables also saw declines of over 0.9%.
Top Gainers and Losers
Leading gainers on the Nifty included Cipla, Larsen & Toubro, and Dr. Reddy’s Laboratories, while the top laggards were Tech Mahindra, HCL Technologies, and TCS.
Oil Prices
As of October 31, 2024, Brent Crude traded at $72.63, marking a modest increase of 0.11%.
Disclaimer: This blog is intended solely for educational purposes. Mentioned securities are illustrative examples and not investment recommendations. Information is sourced from various internet sources and may be subject to change. Please consult a professional advisor for financial decisions.