Markets Close, 24 Sep: Nifty ends in negative at 25,056.90 (-0.45%), Sensex at 81,715.63 (-0.47%)

Today, the market ended in the red. Nifty opened at 25,108.75, made a high of 25,149.85, and closed 0.45% down, at 25,056.90. Sensex followed the same suit and closed 0.47% down at 81,715.63. It opened today at 81,917.65 and made a high of 82,045.45.Reasons for the declineThere are several reasons for the market decline:The global market showed negative cues, contributing to negative sentiments among the investors.The rupee depreciated to an all-time low against the US dollar, driven by factors like the US visa fee hike and broader market uncertainties.Finance and IT companies were the major losers, with companies like Tata Motors, Wipro, and Bharat Electronics among the Nifty losers.Major Indices today IndicesLTPPrev closeChangeNifty 5025,056.9025,169.50-0.45%BSE Sensex81,715.6382,102.10-0.47%Next 5068,808.2069,643.40-1.20%Bank Nifty55,121.5055,509.75-0.70%Fin Nifty26,388.4526,559.50-0.64% Nifty 50 and Sensex slipped due to weakness in the IT sector amid concerns over the visa policy.Nifty Bank and Fin Nifty slipped as private banks faced selling pressure, and were weighed down by weak lending sentiment and foreign outflows.Sectoral Indices today IndicesLTPPrev closeChangeNifty IT34,994.2535,249.10-0.72%Nifty Auto27,007.6027,321.95-1.15%Nifty FMCG55,378.9555,281.550.18%Nifty Pharma22,180.7022,299.10-0.53%Nifty Healthcare14,565.4014,659.05-0.64%Nifty Oil & Gas11,247.5535,249.10-0.62% Nifty IT was down due to the uncertainty regarding H-1B visa fees and regulatory concerns around key IT companies like PB Fintech.Nifty Auto stocks were under pressure amid broader market weakness.Nifty FMCG was positive as investors prefer defensive stocks to seek safety in a volatile market.Nifty Pharma and Nifty Healthcare were down over concerns regarding exports and regulatory pressures on MSMEs, including bioequivalence studies costing around ₹20-40 lakh per product. Market movers todayIndian Bank and State Bank of India shares rallied after the government’s consideration to increase the foreign investment limit in PSU banks.PB Fintech dropped after profit booking and concerns over higher valuations.Praj Industries faced heavy selling pressure after reporting a drop of about 93-94% year-on-year profits.Tata Motors declined by about 3% at ₹628.95 amid concerns over rising input costs.Wipro shares dropped by 2% at ₹244.59 per share after lower than expected earnings and rising concerns in the IT sector regarding Visa policies.Top gainers Company NameLTPPrev CloseChangeIndian Bank708.20695.101.88%Avenue Supermarts4,645.804,633.900.26%Kaynes Technology7,454.007,242.002.93%Jubilant Foodworks630.40616.702.22%Hindustan Unilever2,549.502,522.201.08% Top losers Company NameLTPPrev CloseChangePB Fintech1,735.201,801.60-3.69%Godrej Properties2,019.102,103.70-4.02%Samvardhana Motherson107.96112.08-3.68%Oberoi Realty1,620.101,666.00-2.76%Bharat Forge1,2091,251.00-3.36% 52W high Stocks Company NameLTP52W highChangeState Bank of India866.20880.50-0.51%Bajaj Finance1,029.751,036.000.41%Maruti Suzuki16,24916,375.000.94%JSW Steel1,149.101,161.000.94%Tata Steel172.66174.44-0.36% 52W low Stocks Company NameLTP52W lowChangePraj Industries369.40368.25-2.88%CMS Info Systems389.10387.50-2.76%Symphony917.80915.25-0.48%Quess Corp257.70257.00-1.49%Ganesha Ecosphere1,2031,200-4.48% High volume Stocks today Company NameLTPPrev CloseChangeVodafone India8.598.72-1.49%Yes Bank21.1921.38-0.89%Canara Bank122.91121.900.83%Ashok Leyland142.26144.04-1.24%Suzlon Energy57.5058.75-2.13% IPOsIPOs for Ganesh Consumer Products and Atlanta Electricals will close for subscription today. The allotment of shares will be done on 25th September.IPOs for Seshaasai Technologies and Anand Rathi Share & Stock Brokers are open for subscription till 25th September. The price band is set at ₹402-423 for Seshaasai Technologies and ₹393-₹414 for Anand Rathi Share & Stock Brokers.IPO for Jain Resource Recycling opened today with a price band of ₹220-232 and will close on 26th September.Allotment statusGK Energy IPO shares will be allotted today. Investors can check the allotment status online through the websites of BSE and NSEListed todayVMS TMT shares hit 5% lower circuit at ₹99.75 per share on BSE after stock debut. The stock got listed today on the NSE and BSE at a premium of 5.96% and 6.06%, respectively. The price band for IPO was set at ₹94-99 per share.Market announcementsMinda Corp shares rose by 9% at ₹579.10 after it announced its ambitious plan to grow revenue 3.5x.Swiggy's share price dropped by 2.09% to ₹439.80 after the board approved the sale of its entire stake in Rapido, worth ₹2,400 crores, to Prosus and Westbridge Capital.Techno Electric declared a final dividend of ₹9 per share in its AGM.

Markets Close, 24 Sep: Nifty ends in negative at 25,056.90 (-0.45%), Sensex at 81,715.63 (-0.47%)

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