Stock market today: Domestic benchmark indices, the S&P BSE Sensex and NSE Nifty, opened lower on Wednesday, October 4, tracking Asian peers after another piece of resilient US economic data sent Treasury yields to fresh highs.

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At the time of filing this report, the S&P BSE Sensex was down 352.62 points, or 0.54 per cent, at 65.158.48, and the NSE Nifty was down 108.45 points, or 0.56 per cent, at 19,420.3.

“Benchmark indices could retreat in early Wednesday trades after a sell-off in the overnight US market triggered a steep fall across the Asian markets. Fresh concerns over the interest rate hike have emerged after the JOLTS report in the US showed a bigger-than-expected number of job openings last month," said Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd.

Tapse added that markets may continue to exhibit intra-day volatility ahead of the monetary policy announcement on Friday. The real culprit behind the current pessimism is FII selling, as they sold Rs 26,692 crore in the month of September. Nifty’s technical picture suggests bears will be in the driver's seat with aggressive targets at the 19221 mark. 

In the broader market, Nifty Mid Cap 100 and Small Cap 100 opened in negative territory. 

Nifty Bank was down 0.78 per cent at 44,052.85.

BUZZING STOCKS 

Maruti Suzuki shares were down over 2 per cent after the auto major received a draft assessment order from the Income Tax Department for FY 2019–20 amounting to Rs 2,159 crore.

Apollo Tubes shares were down over 1 per cent despite recording the highest quarterly sales volume reported by the company ever.

Cholamandalam Investment shares were down over 1 per cent ahead of the board considering the QIP issue price. 

Vedanta was down over 1 per cent after reporting the Q2 update.

Conversely, Titagarh Rail Systems edged higher after receiving an order value for this project of approximately Rs 857 crore.

Bajaj Finance hit a 52-week high after releasing the Q2 update.

Bank of Maharashtra shares hit a 52-week high after reporting a Q2 update.

Nestle India shares were up nearly 2 per cent after the board may consider a second interim dividend and share split with results at the board meeting on October 19.

Avenue Supermart's stock was up over 2 per cent post-releasing the Q2 update. 

GLOBAL MARKETS

Asian markets fell to an 11-month low on Wednesday after another piece of resilient U.S. economic data sent Treasury yields to fresh highs, while a sharp rise in the yen had traders speculating that Japanese authorities had stepped into the market.

(With agency inputs) 

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