Sensex is up 150 Points and Nifty is at 24,500

Sensex Gains 150 Points, Nifty Holds Steady at 24,500

Written by: Supriya Kadu

Edited by: Omkar Devadkar

Last Updated: October 23, 2024

Summary: Both BSE Sensex and Nifty 50 opened lower on Wednesday, and the downward trend of Indian benchmark equity markets continued.

Keeping up with the declining trend, Indian benchmark equity markets, the BSE Sensex and the Nifty 50 both opened lower on Wednesday.

The Nifty 50 was down by 23.75 points, or 0.1%, at 24,448.35 at the opening bell, while the BSE Sensex was down 309.75 points, or 0.39 percent, at 79,910.97.

Asia-Pacific markets were split in the meantime, with the broad-based Topix rising by 0.19 percent and Japan's Nikkei 225 trading 0.04 percent below the flatline.

The small-cap Kosdaq was down by 0.72 percent, while South Korea's Kospi was up by 0.43 percent. The Hang Seng index was also 0.39 percent higher.

While China's Shanghai Composite fell 0.08 percent and the CSI300 was down by 0.53%, Australia's S&P/ASX 200 was up by 0.14 percent.

In addition, following the rise in US interest rates, global stock markets experienced a decline for the second consecutive session, attributed to market volatility observed on Tuesday in anticipation of the upcoming US election and the potential for interest rate reductions.

Democratic Vice President Kamala Harris had the lead over former Republican President Donald Trump in the race for swing states, according to a survey by Reuters/Ipsos conducted before

November 5. Harris received 46% of the vote, while Trump received slightly low, 43%.

Both the Dow and the benchmark S&P 500 experienced losses during a tumultuous trading session, primarily as a result of losses in the commodities, utilities, and industrial sectors. On the other hand, the Nasdaq concluded the day higher after investors evaluated company performance data from various US economic sectors.

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