Stock market highlights: Sensex, Nifty tank 2% as geopolitical tensions hit markets

Sensex, Nifty, Share Prices : The Indian stock markets witnessed a sharp decline on Thursday, October 3, 2024, as global uncertainties and heightened volatility led to a significant sell-off. The BSE Sensex plummeted 1,769.19 points or 2.10 per cent to close at 82,497.10, while the Nifty 50 tumbled 546.80 points or 2.12 per cent to end at 25,250.10.

The market opened with a gap-down and faced sustained selling pressure throughout the session, marking the fourth consecutive day of decline for the Nifty index. Hardik Matalia, Derivative Analyst at Choice Broking, noted, “On the daily chart, the Nifty index faced selling pressure for the fourth consecutive day, closing near the 25,250 mark. A bearish candle has formed, signalling continued weakness.”

The sectoral performance was overwhelmingly negative, with Realty, Auto, Energy, and Financials emerging as major laggards, declining between 2.43 per cent and 4.36 per cent. The broader market also felt the heat, as evidenced by the Nifty Midcap 100 index dropping 2.21 per cent and the Nifty Small Cap 100 index falling 1.96 per cent.