Sensex and Nifty in Green on October 18, 2024

18 Oct 2024 , 01:14 PM

On October 18, Sensex and Nifty rebounded around noon after a sluggish start, with many sectoral indices recovering from initial declines.

At the time of writing at 1:06 pm, Sensex rose by 238.54 points (0.28%) to reach 81,236, while Nifty increased by 82.05 points (0.33%) to 24,831.

Market activity showed 1,497 shares advancing, 1,799 shares declining, and 104 shares remaining unchanged.

The banking and auto sectors led the recovery in the Nifty, while IT and FMCG sectors experienced downturns. Banking stocks gained 1% in anticipation of Q2 FY25 results from HDFC Bank and Kotak Mahindra, set to be announced on October 19. The Nifty IT index fell by 1.5%, impacted by a significant 5% drop in Infosys shares after its Q2 earnings missed expectations.

The Nifty FMCG sector recorded its third consecutive loss, down nearly 1% due to declines in ITC, HUL, and Nestle. In contrast, banking and auto indices rose by 0.9% and 0.4%, respectively, providing some support to the Nifty 50.

The broader market faced pressure, with the BSE Midcap and Smallcap indices down by 0.16% and 0.38%, respectively.