Sensex Today | Stock Market Live Updates: Nifty remains below 24,800 but Midcap index falls 1,000 points, Smallcap drops 2%

Stock Market Live Updates: At the halfway mark, the market is having a lukewarm day. The Indian benchmark indices started that day on a muted note, continue to trade with minimal change. The Nifty 50 index declined by 9.60 points or 0.04%, taking the overall value to 24,802.45. The Sensex, meanwhile, declined by close to 50 points.

The shares of Varun Beverages, along with a whole host of IT stocks, diminished. Landmark share rose by 7%, while auto stocks also surged.

Soon after opening, the benchmark indices declined. The Nifty index, after opening at 24,803.25, fell by over 50 points. The Sensex was no different, as the index slumped by over 80 points after opening at 81,403.94.

The shares of IKS declined by about 3% after a large trade.

In addition, the IT stocks started the day on a low note. In addition, while metal stocks slumped, many defence stocks maintained the streak, and continue to make gains, with DCX gaining over 2%.

The last two days have been choppy for the Nifty, more so for the mid- and small-cap indices. The index has been ending in the red but is managing to respect levels on the downside.

The Nifty walks into today’s weekly options expiry session having declined in four out of the last five trading days. The market today has multiple global and domestic cues to deal with.

The Fed, on expected lines, left rates unchanged but warned of higher inflation, unemployment, and slower growth in its forecast. That weighed on Wall Street, with the Dow closing 450 points off the highs. The other bit continues to be the uncertainties around the Middle East, with no decisive move yet from the US, which has kept markets on the edge.

Oil prices continue to remain higher, which has acted as a dampener to the market sentiment back home.

Watch this space for all the live updates.