Stock Market Decline Observed on September 4, 2024 {update}

Market Overview

The Nifty 50, a key index representing the top 50 companies listed on the National Stock Exchange (NSE), started the day at 25,089.95 points, marking a decline of 189.90 points, or 0.75%. This drop reflects the overall bearish sentiment in the market.

• Market Opening: On September 4, 2024, the Indian stock market opened lower, with major indices showing declines.
• Nifty 50: The Nifty 50 index started at 25,089.95 points, down by 189.90 points, or 0.75%.
• Nifty Bank: The Nifty Bank index dropped by 324.45 points, or 0.63%, closing at 51,364.65 points.
• Fin Nifty: The Fin Nifty index fell by 150.10 points, or 0.63%, to settle at 23,772.10 points.
• India VIX: The India VIX index remained unchanged at 13.84, indicating stable market volatility.
• Nifty Midcap: The Nifty Midcap index declined by 107.55 points, or 0.81%, to 13,104.45 points.
• Nifty Small Cap 50: This index saw a sharper drop of 81.25 points, or 0.88%, closing at 9,113.60 points.
• Nifty Mid Cap 50: The index fell by 127.20 points, or 0.76%, to 16,524.40 points.
• Nifty 100: The Nifty 100 index decreased by 198.70 points, or 0.75%, closing at 26,143.00 points.
• Nifty 500: The Nifty 500 index ended the day at 23,611.80 points, losing 176.65 points, or 0.74%.
• Nifty Midcap 100: This index declined by 436.05 points, or 0.74%, to 58,861.80 points.
• Nifty Smallcap 100: The index dropped by 164.25 points, or 0.85%, closing at 19,162.45 points.
• Nifty Auto: The Nifty Auto index fell by 165.25 points, or 0.63%, to 25,869.40 points.
• Nifty Private Bank: This index declined by 205.20 points, or 0.79%, closing at 25,666.25 points.
• Nifty FMCG: The Nifty FMCG index dropped by 579.30 points, or 0.91%, ending at 62,906.45 points.
• Nifty IT: The Nifty IT index saw a significant decline of 535.60 points, or 1.25%, to 42,315.70 points.
• Nifty Pharma: The Nifty Pharma index had a smaller loss, dropping by 71.40 points, or 0.31%, to 22,942.90 points.

Sectoral Performance

The Nifty Bank index, which tracks the performance of the banking sector, fell by 324.45 points, or 0.63%, closing at 51,364.65 points. Similarly, the Fin Nifty index, focused on financial services, also dropped by 150.10 points, or 0.63%, settling at 23,772.10 points.

The volatility index, India VIX, remained unchanged at 13.84. This suggests that while there was a decline, the market’s fear and uncertainty did not significantly increase.

Midcap and Smallcap Indices

The midcap and smallcap indices also faced a downturn. The Nifty Midcap index decreased by 107.55 points, or 0.81%, to reach 13,104.45 points. The Nifty Small Cap 50 saw a sharper decline, dropping by 81.25 points, or 0.88%, ending at 9,113.60 points.

The Nifty Mid Cap 50, another important index for mid-sized companies, fell by 127.20 points, or 0.76%, to 16,524.40 points. This indicates that mid-sized companies also faced selling pressure.

Broader Market Indices

The broader market indices, including the Nifty 100 and Nifty 500, showed declines of 0.75% and 0.74%, respectively. The Nifty 100 index closed at 26,143.00 points, down by 198.70 points. The Nifty 500 index ended the day at 23,611.80 points, losing 176.65 points.

The Nifty Midcap 100 and Nifty Smallcap 100 indices were also in the red. The Midcap 100 fell by 436.05 points, or 0.74%, to 58,861.80 points. The Smallcap 100 dropped by 164.25 points, or 0.85%, closing at 19,162.45 points.

Sector-Specific Performance

Among the sectoral indices, the Nifty Auto index declined by 165.25 points, or 0.63%, to 25,869.40 points. The Nifty Private Bank index, which represents the performance of private sector banks, fell by 205.20 points, or 0.79%, to 25,666.25 points.

The FMCG sector, represented by the Nifty FMCG index, experienced a significant drop of 579.30 points, or 0.91%, ending at 62,906.45 points. The IT sector was also hit hard, with the Nifty IT index declining by 535.60 points, or 1.25%, to 42,315.70 points.

The Nifty Pharma index showed relatively smaller losses, dropping by 71.40 points, or 0.31%, to 22,942.90 points.