Nifty and Sensex struggled for direction in a lackluster trade.

*Review & Preview @4PM —— Tuesday, October 1st 2024*

NIFTY (-14, 25797)
Sensex (-33, 84266)
Bank Nifty (-56, 52923)

Nifty and Sensex struggled for direction in a lackluster trade.

Blame it on stoking geopolitical tensions on backdrop of Israeli army mounting a ground invasion of Lebanon.

# Sentimental Overview:

# Nifty and Sensex may have struggled for direction but Nifty Midcap and Smal-cap indices ended above the dotted lines indicating sluggishness does not necessarily mean the sky is about to fall.

# Buzzing stocks:

1) The board of directors of Godrej Properties approved a fund raise of Rs 6,000 crore.

2) Ford Motor Co. is discussing plans to manufacture electric vehicles at its southern India plant in Tamil Nadu for re-entering the world’s third-largest car market three years after announcing shutting its local factories.

3) Polycab India hit a record high of Rs 7,353 per share, as they rallied 5.52% on positive outlook.

# Technical Overview:

# Technically speaking, the long and short of today’s trading was that Nifty despite positive global backdrop Nifty wavered indicating bulls have hit the pause button.

Nifty’s all-time-high continues to be at 26277.30 — and the street seen concerned amidst overbought technical conditions.

The line in the sand is at Nifty’s psychological support at 25300 mark and then at 24850 mark.

Nifty’s 200 DMA at 23095 mark.

# Outperforming Nifty Sectors:
Nifty MEDIA (+1.36%)
Nifty IT (+1.13%)
Nifty AUTO (0.25%)

# Underperforming Nifty Sectors:
Nifty OIL & GAS (-0.69%)
Nifty PSE (-0.38%)
Nifty Reality (-0.22%)

# Bulls of the day:
TECHM (+2.90%)
M&M (+2.36%)
BRITANNIA (+1.80%)
INFY (+1.62%)
ADANIENT (+1.50%)

# Bears of the day:
INDUSINDBNK (-2.66%)
ONGC (-1.75%)
ASIANPAINT (-1.63%)
BAJAJ AUTO (-1.38%)
TATATSTEEL (-1.10%)
(Source NSSEINDIA.com)

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Disclaimer: This does not construe to be an investment advice. Stock market investments are subject to market risks. All information is a point of view, and is for educational and informational use only. The author accepts no liability for any interpretation of articles or comments on this platform being used for actual investments. Returns mentioned herein are in no way a guarantee or promise of future returns. Stock market investments are subject to market risks.