Stock Market Highlights September 30, 2024: Sensex closes 1.5% lower amid global uncertainty and profit-taking 

Sensex, Nifty, Share Prices: The Indian stock market witnessed a sharp sell-off on Monday, with the BSE Sensex plummeting 1,272.07 points or 1.49 per cent to close at 84,299.78, while the Nifty 50 tumbled 368.10 points or 1.41 per cent to 25,810.85. The decline marked the worst day for both indices in nearly two months, driven by escalating geopolitical tensions in West Asia and profit-booking after recent highs.

The market opened on a weak note, with the Sensex starting at 85,208.76, down from its previous close of 85,571.85. Similarly, the Nifty opened lower at 26,061.30, compared to its last close of 26,178.95. The negative trend persisted throughout the trading session, with both indices closing near their day’s lows.

Mandar Bhojane, Technical Research Analyst at Choice Broking, provided a detailed closing market summary: “The Nifty opened 117 points lower and continued to make a series of lower highs and lower lows on the intraday chart. On the daily chart, a strong bearish candle formed, indicating significant selling pressure from higher levels, which dragged the market toward the 25,800 mark. Should the index break below 25,800, a further correction toward 25,500 could be anticipated, where the 20-day EMA also lies. On the upside, 26,000 is expected to act as immediate resistance.”