BSE market update: In a turbulent trading session on November 4, 2024, the Bombay Stock Exchange (BSE) faced a significant downturn, with the Sensex crashing and several major stocks recording substantial losses. The market turbulence followed disappointing news regarding key pharmaceutical and power sector companies, leading to widespread fluctuations.
Sun Pharmaceutical Industries was among the hardest hit, with its shares plunging by 3.94% to reach an intra-day low of Rs.1,785.45. This drop came after a New Jersey court issued a preliminary injunction that stalled the launch of the company’s new drug, Leqselvi (deuruxolitinib), a significant setback for the firm.
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NTPC, a leading player in the power generation and distribution sector, also faced challenges. The stock fell 3.84%, trading at Rs.395.70 after fluctuating between a low of Rs.393.95 and a high of Rs.417 during the day. Over the past year, NTPC shares have fluctuated between Rs.233.50 and Rs.448.30, highlighting its recent volatility.
Reliance Industries, another heavyweight, saw its stock price decline by 3.51%, hitting ₹1,292.05—its lowest point in nine months. The sharp drop reflects ongoing selling pressure amid broader market concerns.
Adani Ports and Special Economic Zone experienced a 3.39% decline, with shares currently trading at Rs.1,346.85. This company, a major player in India’s port operations, is facing increased scrutiny as market dynamics shift.
Lastly, Power Grid Corporation of India recorded a decline of 2.81%, with its shares trading at Rs.312.85. The power sector is under significant pressure, reflecting broader economic uncertainties.
Investors are advised to stay vigilant as the market reacts to these developments. The volatility in these major stocks, therefore, underscores the importance of cautious investing in the current climate, particularly as economic conditions continue to evolve.
Key Takeaways
1. Sun Pharma: -3.94% to ₹1,785.45
2. NTPC: -3.84% to ₹395.70
3. Reliance: -3.51% to ₹1,292.05
4. Adani Ports: -3.39% to ₹1,346.85
5. Power Grid: -2.81% to ₹312.85
