Sensex Ends At 72,480.29 And Nifty At 22,620.45, Rising Crude Extends Market Losses To Third Session
Mumbai: Indian stock markets ended lower for a third consecutive session on Wednesday, September 30, as rising crude oil prices and weak global cues kept investors cautious. Fading expectations of progress in US–Iran talks added to concerns over the economic outlook. The Sensex fell 48.78 points, or 0.07 per cent, to 72,480.29. The Nifty 50 declined 95.75 points, or 0.42 per cent, to close at…
Mumbai: Indian stock markets closed lower for the third straight day on Wednesday, September 30, as surging crude oil prices and unfavorable international signals kept traders on edge. Weakening hopes of progress in the US-Iran dialogue compounded worries over the economic outlook. The Sensex dropped 48.78 points, or 0.07%, to 72,480.29.
The Nifty 50 slipped 95.75 points, or 0.42%, to close at 22,620.45. Sensex Opens At 72,441 And Nifty At 22,665, FIIs' Selling Undermines Indian Stock Markets Crude prices' uptick reignited concerns about inflation, corporate profits, and economic expansion, according to market professionals. Experts noted investors would likely stay cautious, opting for robust firms with sustainable earnings until the macroeconomic environment becomes clearer.
Despite some sectors receiving buying pressure, the cautious tone kept benchmark indices under pressure. Technical analysts pinpointed 22,600–22,550 as Nifty's support zone, with a sustained drop below 22,500 potentially exposing the 22,300 level. Immediate resistance was noted at 22,800, with experts describing the technical outlook as weak.
Call open interest stood at around 17.11 crore, while Put open interest was about 10.96 crore, with the greatest Call open interest at 23,000. This positioning suggested ongoing pressure on the index. The Sensex concluded at 72,529.07, while the Nifty slipped 64.05 points as oil prices extended the market's losing streak. Healthcare and pharmaceutical stocks suffered from selling pressure, with Apollo Hospitals Enterprise, Max Healthcare Institute, and BSE leading the Nifty decliners.
Nifty Healthcare, Nifty Pharma, Nifty Consumer Durables, and Nifty Metal were among the weakest sectoral performers. Conversely, Nifty Realty, Nifty Private Bank, and Nifty Media experienced gains, driven by buying in select stocks. Midcap and smallcap indices registered gains, while the broader market indices outperformed the benchmarks.
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