Stock Market Highlights: Sensex ends 287 points lower, Nifty50 gives up 17,650 as market extends losses to third day

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Market in consolidation mode, may fall further: Equity99's Rahul Sharma

"The markets is expected to fall further as it is in a consolidation mode. Auto companies will be declaring their September sales numbers from Friday," said Rahul Sharma, Co-founder of Equiy99.

"Nifty on the hourly charts has shown weakness and closed below its 100-day exponential moving average, a setup similar to what was seen on September 28. We can see support at the low of the day, which is near 17,585. Going ahead, immediate support will be at 17,575, followed by 17,525, and bigger support at 17,450. Resistance will remain at 17,720, followed by 17,800," he said. 

Uptimate resistance for Nifty at 17,800: Kotak Securities' Shrikant Chouhan

"After approximately 40 days, the Nifty index is on the verge of hitting the levels of its 20-day simple moving average. It’s the longest period that Nifty has spent above the same, which suggests a strong and consistent uptrend. Apart from the support of the 20-days SMA, if we consider the pattern of the last three days, we would call it a gradual decline in the bullish trend, of which, dip buyers may take advantage to buy with a medium-term view," said Shrikant Chouhan, Head - Equity Research (Retail), Kotak Securities.

"The strategy should be to buy between 17,530 and 17,500 levels. Keep a final stop loss at 17,400 levels. On the higher side, 17,800 would act as ultimate resistance for the market," he said.

Nifty has support in 17,576-17,608: HDFC Securities' Deepak Jasani

"Nifty has fallen for three consecutive sessions -- the longest streak in almost two months. While it has not fallen with deep cuts and recoveries have been witnessed post-intraday selloffs, the fact that the Nifty closed lower for three straight sessions is a bit unnerving," said Deepak Jasani, Head of Retail Research at HDFC Securities.

He expects support for the index in the 17,576-17,608 band in the near term. "A breach of this band could take it to 17,355, after which, a larger fall may ensue. On rises, levels of 17,781-17,802 could act as resistance," he said.

Expect rupee to move in 74-74.80 range in near term: Kotak Securities' Anindya Banerjee 

Anindya Banerjee, DVP, Currency Derivatives and Interest Rate Derivatives at Kotak Securities, expects the rupee to move within a range of 74.00-74.80 over the near term.

Rupee edges lower to 74.24 against dollar

The rupee ended at 74.24 against the US dollar as against its previous close of 74.15.

Worries on US debt ceiling crisis, rise in bond yields triggered further consolidation: Geojit Financial Services' Vinod Nair 

"The Indian market slipped in the later half tracking weak global cues and a fall in heavyweights. Worries over the US debt ceiling crisis and an uptick in bond yields triggered further consolidation. The domestic market also got vigilant ahead the release of August’s core sector output data," said Vinod Nair, Head of Research at Geojit Financial Services. 

Market At Close | Bajaj twins, Tata Motors, NTPC, Sun Pharma top gainers; Power Grid, Asian Paints, Axis Bank top losers

Market At Close: Market closes lower amid expiry day volatility 

Here are key highlights of today's session:

--Midcap index outperforms overall market, up 0.4 percent

--Nifty Metal falls most among sectoral indices; JSW Steel slips 2 percent

--Power Grid erases most of previous day's gains, slips 3 percent

--ONGC ends flat; city gas stocks gain ahead of price revision

--Bharti Airtel fails to hold opening gains, slips 3 percent from intraday high

--Bajaj Finance, Bajaj Finserv top gainers, rise 2 percent each

--Tata Power continues to gain momentum, up 14 percent so far this week

--IOB surges 11 percent after RBI takes it out of PCA framework

--AB Fashion, Vodafone Idea, Can Fin, Federal Bank top midcap gainers

--Indus Towers, REC, Manappuram, PI Ind top midcap losers

Closing Bell | Sensex falls 385 points to 59,028, Nifty at 17,618 

The Sensex index ended 385.2 points or 0.7 percent at 59,028.1 and the broader Nifty50 benchmark shed 93.2 points to settle at 17,618.2 -- both indices extended losses to a third straight day. Losses IT, metal and select financial stocks pulled the market lower, however gains in pharma, consumer and PSU banking shares limited the downside. (Check out how market fared at the close)

Sterling and Wilson Solar bags order worth Rs 1,500 crore

The company has bagged its first order of about Rs 1,500 crore for its waste-to-energy business from a leading developer of energy assets in the UK and Europe.

Last month, Sterling and Wilson Solar Ltd had announced the expansion of its renewable energy offerings to include hybrid energy, energy storage and waste-to-energy solutions.

Introduction of swing price feature a good measure, protects investors from volatility: Sandeep Balga of TRUST MF

"The swing price feature is quite common in the developed markets, and has been now been introduced in the Indian MF space. It aims to protect existing investors from the impact cost incurred by the scheme due to large exits from the fund, at times of market disruptions. It is a good measure which protects investors from short-term market volatility and encourages long-term investments," said Sandeep Balga, CEO, TRUST MF. 

"The swing factor could be applied by individual fund houses at their discretion or mandated by SEBI for specific periods of time. Adequate disclosures will be made to investors for effective and proper communication as well," he said.

V-Mart Retail up 1%

The company has opened five new stores, in Rajasthan, Tripura, West Bengal, Odisha and Bihar. With this, the total number of stores now stands at 368 as of September 30, 2021.

The company’s stock was trading 1.1 percent higher at Rs 3,558.60 on the BSE.

Shares of JSW Energy rose 1 percent to Rs 388.8 on the BSE

JMC Projects jumps 20%

Shares of JMC Projects India were locked in their 20 percent upper circuit limit at Rs 119.85 as the engineering, procurement and construction company has secured new orders worth Rs 1,849 crore.