Stock Market LIVE Updates, Friday, October 4, 2024: GIFT Nifty futures, trading around 50 points behind Nifty futures at 7:42 AM, signalled markets in India were likely to start on a slower note on Friday.

The Indian stock market had bled heavily on Thursday, October 3, as the risk of a flare up in tensions between Iran and Israel stoked cautious sentiment among investors. 

The BSE Sensex index crashed 1,769 points, or 2 per cent, to end at 82,497 levels, while the Nifty 50 broke the 25,300-mark to close at 25,250, down 547 points or 2.12 per cent.

The BSE Sensex hit an intraday low of 82,434, while the Nifty 50 dived to 25,230.30 during the day. 

In the broader markets, the Nifty MidCap index pulled back by 2.2 per cent and the Nifty SmallCap index skid 1.9 per cent. Fear gauge, India VIX, soared 9.4 per cent on Thursday.

Among sectors, all indices closed in the red, with losses led by the Nifty Realty (down 4.6 per cent), Nifty Auto (down 2.7 per cent), and Nifty Private Bank (down 2.5 per cent). 

Meanwhile, Asia-Pacific markets were mixed on Friday, following the lower overnight close on Wall Street, as concerns over escalating tensions in the Middle East made investors cautious ahead of the September US payrolls data.

In Australia, the S&P/ASX 200 fell 0.98 per cent, while Japan’s Nikkei 225 was up 0.11 per cent, and the broader Topix was up 0.27 per cent. 

South Korea’s Kospi rose 0.78 per cent, while the Kosdaq was up by 1.61 per cent.

Hong Kong’s Hang Seng index was up 0.48 per cent, while markets in mainland China were closed until October 8.

Apart from that, global stocks also fell on Thursday, weighed by tepid trading in equity markets across the US and other major regions, while oil prices jumped, buoyed by rising geopolitical tension from the Middle East conflict.

Wall Street’s main indexes finished lower after trading slightly higher early in the session. Data released on Thursday showed rising US jobless claims, indicating labour market softness, but strong service-sector activity. 

The closely watched nonfarm payrolls report for September is due on Friday.

The Dow Jones Industrial Average fell 0.44 per cent to 42,011.59, the S&P 500 fell 0.17 per cent to 5,699.94 and the Nasdaq Composite fell 0.04 per cent to 17,918.48.

European stocks finished down 0.93 per cent as investors digested weak business activity survey data from the bloc. MSCI’s gauge of stocks across the globe fell 0.39 per cent to 842.18.

Israel bombed Beirut early on Thursday following a year of clashes with Iran-backed Hezbollah. Asked if he would support Israel striking Iran’s oil facilities, US President Joe Biden told reporters on Thursday “we’re discussing that.” He added: “There is nothing going to happen today.”

Brent crude futures settled up 5.03 per cent at $77.62 a barrel. US West Texas Intermediate (WTI) crude futures settled up 5.15 per cent to $73.71.

Gold prices were flat as the US dollar strengthened against major currencies. Spot gold fell 0.01 per cent to $2,657.24 an ounce, while US gold futures settled 0.4 per cent higher at $2,679.2.

In currencies, the US dollar index rose to a six-week high, reaching 102.09, the highest since August 19. 

Treasury yields rose after the jobless claims data and service sector report. Two-year Treasury yields were last up at 3.7095 per cent on Thursday, while benchmark 10-year yields were last up at 3.853 per cent.

(With inputs from Reuters.)