Sensex, Nifty decline amid volatility, global factors weigh

The domestic share market  indices concluded yet another volatile day on Monday with losses, extending the losing streak to six sessions, as selling pressure dominated across sectors, except for IT stocks. Investor concerns over the worsening conflict in the Middle East weighed heavily on market mood.Although the market opened higher driven by global optimism, but quickly erased gains and fluctuated throughout the session, finishing near the day's low.At close, the Sensex was down 638.45 points or 0.78 percent at 81,050, and the Nifty was down 218.85 points or 0.87 percent at 24,795.75.
ITC, Bharti Airtel, Trent, M&M and Infosys were the biggest gainers on the Nifty while losers included NTPC, Adani Ports, Adani Enterprises, SBI, Coal India.On the sectoral front,except IT index (up 0.6 percent), all other sectoral indices ended in the red with PSU bank, healthcare, capital goods, realty, metal, power, oil & gas, media and telecom down 1-3 percent. BSE Midcap index was down 2 percent and Smallcap index was down over 3 percent.
Rupee Close:
On 07 Oct,24,the Indian rupee ended nearly unchanged on Monday, sidestepping a decline in its regional peers and pressure from equity- related outflows, as the Reserve Bank of India's firm grip on the currency limited losses, traders reportedly stated.
The rupee closed at 83.9775 against the U.S. dollar, little changed from its previous close of 83.9725.The RBI on Monday asked state-run and private banks to refrain from betting heavily against the rupee, which has been pinned close to its record low of 83.9850 in recent trading sessions, according to information.
Trading Guide:
Market experts have recommended five stocks to buy - Sundaram Finance Ltd, Info Edge (India) Ltd (Naukri), Reliance Industries Ltd, Aurobindo Pharma Ltd and Piramal Enterprises Ltd.

(Bussiness Correspondent)