Indian Stock Markets Down on Global Risk-Off Mood

3 Oct 2023 , 01:23 PM

As of 1 PM, the Indian stock markets were facing a downward trend, with the Sensex down 271.30 points or 0.41% at 65,557.11, and the Nifty down 99.50 points or 0.51% at 19,538.80. The market showed 1591 advancing shares, 1589 declining shares, and 127 shares that remained unchanged.

Key sectors such as power, auto, metal, banking, and oil & gas witnessed declines ranging from 0.5 to 1%. 

Among the top gainers on the Nifty were HCL Technologies, HUL, Asian Paints, Titan Company, and Bajaj Finserv. Conversely, the losers included ONGC, Eicher Motors, Hindalco Industries, Maruti Suzuki, and Dr Reddy’s Laboratories.

Several factors contributed to this decline, including a spike in the US benchmark 10-year bond yields to their highest level since 2007, the dollar index surpassing 107, and continuous selling by foreign institutional investors. 

Additionally, investors showed caution by rolling over positions to the October F&O series, which was reflected in the increase in short positions.