F&O expiry: Sensex tanks 1,115 pts on global sell-off; Nifty ends at 10,806

All that happened in the markets today

4:10 PM

MARKET COMMENT | Vinod Nair, Head of Research at Geojit Financial Services

"Indian benchmark indices had a gap down opening and kept losing ground as the day wore on, to finally end the day around 2.8% down. Markets tracked weak global cues as the uncertainty witnessed in the last few days gave way to negativity, with broader markets also underperforming. The uncertainty regarding an economic recovery, the unabated rise in virus infections, and today being derivatives expiry day, all contributed to the negativity. With volatility expected to be high, traders are advised to remain cautious."

3:43 PM

SECTOR WATCH | All sectoral indices on the NSE decline

3:42 PM

MARKET AT CLOSE | Out of 30 constituents, 29 end in the red

3:36 PM

CLOSING BELL

The S&P BSE Sensex plunged 1,115 points, or 2.96 per cent to settle at 36,554 while NSE's Nifty ended at 10,806, down 326 points, or 2.93 per cent.

3:27 PM

HSIL hits fresh 52-wk high, gains 17% in 3 days on board's nod for buyback

In the past three trading days, shares of HSIL have surged 17 per cent after its board on Monday approved the buyback of shares at Rs 105 per share for an aggregate amount of Rs 70 crore via open market. READ MORE

3:14 PM

MARKET CHECK | India VIX jumps over 11% to 23.3 levels

3:02 PM

UTI AMC IPO to open on September 29, price band fixed at Rs 552 - Rs 554

The much-awaited initial public offer (IPO) of UTI Asset Management Company, one of the leading asset management companies (AMCs) in India, is set to open on September 29. The offer is proposed to close on October 1, 2020. The price band of the offer has been fixed at Rs 552 to Rs 554 per equity share. READ MORE  

3:01 PM

MARKET VOICE:: Shankar Sharma

2:56 PM

HEATMAP:: Every S&P BSE Sensex constituent, barring HUL, trading in the red at this hour

2:43 PM

ALERT :: Nifty approaching 200-DEMA level of 10,800

2:39 PM

ALERT :: Sensex crashes 1,000 pts

2:32 PM

Covid-19: Indian banking system to be among the last to recover, says S&P

The Indian banking sector is considered a late-exiter. Its recovery will be longer. But some ratios may return more quickly to levels as they were weak prior to the onset of Covid-19 (in contrast with many other jurisdictions). READ MORE

2:23 PM

Covid-19 crisis: Now, FinMin is not so sure about a V-shaped recovery

The finance ministry is reassessing its earlier optimism about a V-shaped economic recovery as people are spending less owing to extreme uncertainty induced by the Covid-19 pandemic. “We keep devising projections based on high-frequency indicators. READ MORE

2:12 PM

Rupee Closing

Rupee posts biggest single-session fall against the US dollar since September 3; ends at 73.90 per US dollar vs Wednesday's close of 73.57/$

2:00 PM

Angel Broking IPO subscribed 2x so far on Day 3; retail portion at 3.4x

The Rs 600-crore initial public offering of Angel Broking was subscribed nearly 2 times on the National Stock Exchange (NSE) and BSE on Wednesday, the last day for bidding. Till 12:30 pm, the issue was subscribed 1.77 times on the exchanges, data show. The IPO has received bids for 2.43 crore equity shares against an offer size of 1.37 crore equity shares, the data available on exchanges showed. READ MORE

1:55 PM

Advanced Enzyme Tech freezes at 20% upper circuit; stock hits 52-week high

Shares of Advanced Enzyme Technologies were frozen at the upper circuit of 20 per cent at Rs 272.80, also its 52-week high on the BSE on Thursday, in an otherwise weak market. The S&P BSE Sensex was down 1.78 per cent at 36,998 points at 01:05 pm. The trading volumes on the counter more-than-tripled with a combined 6.7 million equity shares changing hands. There were pending buy orders for around 740,000 shares on the NSE and BSE. READ MORE

1:46 PM

Jio postpaid plans: BofA, CLSA think its not a threat to Airtel; here's why

Bharti Airtel tumbled at the bourses on Wednesday, sinking 10 per cent in the intra-day trade to hit a low of Rs 424, after Reliance Industries’ Jio rolled out new postpaid plans with bundled OTT (over-the-top) subscriptions. The stock eventually settled 8 per cent lower at Rs 434 apiece. On Thursday, however, the stock – even though in the red – was outperforming the market and was down 1 per cent on the BSE, as against a 2 per cent decline in the benchmark S&P BSE Sensex in intraday deals. READ MORE

1:36 PM

European indices make a subdued start

1:11 PM

Nearly half of BSE 500 stocks underperform market since March low

Nearly half the stocks that comprise the BSE 500 index have underperformed the market in the past six months when Prime Minister (PM) Narendra Modi announced the first 21-day nationwide curfew / lockdown to contain the spread of Covid-19 on March 24. The announcement triggered a sharp fall in the market, which hit their almost four-year low. Six months on, the frontline indices – the S&P BSE Sensex and Nifty 50 – have rebounded 47 per cent and 48 per cent, respectively from their 46-month low touched on March 24 in intra-day trade. READ MORE

12:59 PM

MARKET COMMENT:: Abhimanyu Sofat, Head of Research, IIFL Securities

“It is possible that we may see more correction. Scotland and UK have said they are contemplating a lockdown. Fears that more economies may close down is creating more nervousness in the market. The revelations on global bank’s transactions also weighed heavily. All this is collective bothering the market, which is at is on the lookout for reasons to correct. Market had already raced ahead of its valuations."
 

"If we see markets weakening further, it could add more jitters. I see a strong support at 10,800 if the markets were to weaken from here. Cyclicals will be hammered further. People have stocked up on defensive stocks, and that pack which has stayed resilient, may also feel the heat. Stability in the global markets could be the only savior right now.”

12:57 PM

IT stocks: Double-digit growth required to justify high valuation multiples

Steller listing of Happiest Minds Technologies last week once again underlined investors trust in IT stocks mainly led by rising thrust for IT/digital infrastructure amid the coronavirus (Covid-19) pandemic. The story is not different for the already listed players. Over the last 3 months, the Nifty IT index has gained a whopping 35 per cent, almost 6 times the rise in the Nifty50. READ MORE

12:43 PM

June Telecom Data :: Reliance Jio adds 4.5 million users

>> Airtel loses 1.13 million users

>> Vodafone Idea loses 4.8 million users

12:37 PM

It's raining IPOs: With 8 deals, busiest month for Dalal Street in nine yrs

Asset management firm UTI Mutual Fund and state-owned shipbuilder Mazagon Dock will launch their offerings just before the month ends. Stellar listings for last three IPOs has buoyed prospects for the primary markets, said experts. The two issues that closed this week -CAMS and Chemcon Speciality- continued to witness huge oversubscriptions despite volatility in the secondary market. READ MORE

12:31 PM

UPDATE :: Nifty slips below 10,900 for the first time since August 3, 2020

12:29 PM

MARKET CHECK :: Indices extend decline; Sensex tanks nearly 800 pts

12:22 PM

NEWS ALERT | Looking at 8% loan growth in FY21, says Rajnish Kumar

>> Around 50 firms with loan between Rs 50 cr-Rs 1500 crore may seek debt recast

12:18 PM

NEWS ALERT | Don't expect huge retail restructuring for the company: SBI chairman

12:14 PM

NEWS ALERT | As of Sept 23, not a single corporate has approached us for restructuring: SBI Chairman

-- Things become more complicated  when there are large number of lenders involved

-- introduction of IBC helped in stress in corporate loans

 

-- Corporate are hesistant in getting 'restructured' tag

-- The smaller the credit size, the easier it becomes to deal with them

(via CNBCTV18)

12:10 PM

NEWS ALERT | Corporates with over Rs 1500 cr exposure has approached us for restructuring: SBI Chairman

-- Recovery in India will be linked to recovery in economy

-- Things on ground are not as bad as expected

-- (via CNBC TV18)

11:57 AM

MARKET CHECK | India VIX jumps around 7.5% to 22.5 levels