MARKET WRAP: Indices end flat, Sensex slips 66 pts; Bharti Airtel falls 8%

All that happened in the markets today

4:14 PM

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

"Indian benchmark indices traded in a tight range before finally ending the day with a negative bias. The uncertainty and lack of direction were clear in the market trend, which was actually supported by gains in RIL and HDFC Bank. The banking index ended the day slightly positive. Global cues were mostly positive. But the re-emergence of virus infections around the world has put doubts on the global economic recovery, and the positivity in the global markets was led by technology shares. Tomorrow being an expiry day and with uncertainty ruling the markets, traders are advised to be cautious."

3:43 PM

SECTOR WATCH | Nifty Pharma index slips 1.6%

3:42 PM

MARKET AT CLOSE | Losers and gainers on the S&P BSE Sensex

3:36 PM

CLOSING BELL

The S&P BSE Sensex ended 66 points or 0.17 per cent lower at 37,668 levels while NSE's Nifty ended at 11,132, down 22 points, or 0.2 per cent.

3:29 PM

MARKET CHECK

3:22 PM

HUL trades over 1% higher

3:17 PM

MARKET CHECK | Top gainers on the BSE at this hour

3:07 PM

Factbox: Reliance raises $22.43 bn from stake sales at retail, digital arms

On Wednesday the company announced a $755.1 million investment from KKR & Co Inc in its retail arm, giving it a pre-money valuation of 4.21 trillion rupees ($57.28 billion) READ MORE

Photo: Reuters

3:00 PM

Private equity inflow in real estate down 85% to $866 mn in Jan-Aug: Report

Private equity investment in Indian real estate plunged 85 per cent during January-August period of this year at USD 866 million (around Rs 6,500 crore) as investors remained cautious due to the COVID-19 pandemic, according to Colliers International and FICCI report. The private equity (PE) inflow stood at USD 5,795 million in the corresponding period of the previous year. READ MORE

2:55 PM

Sectoral trends at this hour

2:47 PM

Strong rural demand cushions volume weakness for Supreme Industries

The stock of India’s largest plastic pipes company Supreme Industries is up 17 per cent since the lows in August on hopes that demand from the rural segment, higher realisations and market share gains will support its revenue growth.

 

Weak volume growth due to falling demand from construction and plumbing segments had dented the financial performance of pipe companies in the June quarter; Supreme Industries reported a 27 per cent dip in revenues on the back of a 19 per cent drop in volumes. READ MORE

2:37 PM

Rollover Analysis :: ICICI Securities

>> The Nifty weakened further and closed at the lowest levels of the month. The prevailing positive bias in the technology space helped it to remain largely range bound whereas most stocks came under selling pressure. The Call writing continued at OTM 11,300 and 11,500 strikes suggesting expectations of limited upsides in the current settlement. At the same time, the Put base at the 11,000 strike is likely to remain a strong support in the current series.

>> The banking index has also remained under pressure and tested its highest Put base of 21000 strike, which has been a strong support since June. However, continued Call writing was observed at 21500 strike, which is likely to remain a hurdle for the settlement. Short covering should be expected above these levels

>> Highest rollover was seen in Adani Enterprises, Havells, Jindal Steel, IDFC First Bank and Balkrishna Industries. Rollover activity was relatively low in Idea, Vedanta, SAIL, Pidilite and United Breweries

>> Among index stocks, Grasim (82%), HCL Tech (75%) and Cipla (74%) are witnessing high rolls into the next series while Hindustan Unilever (30%), TCS (37%) and Asian Paints (40%) are seeing relatively low rollover into the October series.

(Data as of Tuesday, Sept 22)
 

2:27 PM

BSE Midcap index slips 0.9%

2:18 PM

IPO ALERT :: Chemcon Speciality subscribed nearly 47x, CAMS 20x till 2 pm on last day

2:09 PM

Rupee Closing

Rupee settles at 73.57 per US dollar vs Tuesday's close of 73.58/$

2:04 PM

US election, Q2 results of India Inc to keep markets volatile: Analysts

Markets have been volatile since the past few sessions and have been unable to hold on at the higher levels – and if experts are to be believed, they will remain so for the next few weeks. At the global level, the upcoming US presidential election and the monetary policies of major central banks, fear of sporadic lockdowns across cities given the rise in Covid-19 cases and oil prices could keep investors on edge. READ MORE

1:58 PM

IPO Alert :: Angel Broking offer subscribed 100% on Day 2 till 1:45 pm

1:47 PM

Nifty hovers around 11,050

1:47 PM

Market at day's low

1:46 PM

Q&A :: We expect equity returns to be muted in next 12 months: CIO, HDFC Life

Some of the discretionary sectors like auto have shown a smart recovery. Sectors like hotels have improved but have some way to go. Multiplexes are yet to open. So it is a different story for each of these sectors. READ FULL INTERVIEW HERE

1:39 PM

Stocks that hit 52-week high on BSE today

COMPANY	PRICE(rs)	52 WK HIGH	CHG(rs)	CHG(%)
FIRSTSOUR.SOLU.	75.75	78.35	3.75	5.21
HEXAWARE TECH.	468.15	468.95	7.50	1.63
INFOSYS	1018.95	1037.10	11.75	1.17
MINDTREE	1268.45	1342.05	-40.50	-3.09
MPHASIS	1394.95	1418.00	22.60	1.65

1:29 PM

NEWS ALERT :: Saudi Arabia suspends travel to & from India due to rising number of Covid-19 cases

1:28 PM

European indices trade higher in early deals

1:23 PM

NEWS ALERT :: Bharti Airtel picks strategic stake in tech startup Waybeo

>> Waybeo, a Trivandrum headquartered startup focused on deep Al based analytics for cloud telephony, is the fifth startup to join the fast growing Airtel Startup Accelerator Program, which helps promising startups unlock their potential.

Click here for more details

1:18 PM

Route Mobile surges 18%; stock zooms 134% against issue price in 3 days

Shares of Route Mobile surged 18 per cent to Rs 818 on the BSE in the intra-day trade on Wednesday after making a stellar debut earlier this week. On Monday, the stock made a strong debut and ended at Rs 650, clocking a gain of 86 per cent against the issue price of Rs 350 per share. With today's rally, the stock has zoomed 134 per cent against the issue price. READ MORE

1:10 PM

Growth signs visible for road infrastructure players

Road infrastructure players are in the spotlight with improving order flows, better labour availability, and construction activities gaining pace as the monsoon season comes to an end. For toll road operators, the improving traffic, too, bodes well. Overall, analysts expect a much better second half of FY21 after a significant impact from the lockdown during the first half. READ MORE

1:06 PM

Sun TV slips 4%

12:57 PM

MARKETCHECK | Top 5 losers on the BSE at this hour

12:57 PM

BROKERAGE VIEW :: ICICI Securities on Hexaware delisting price

>> HT Global Holding BV (Acquirer) along with HT Global Holdings Ltd (promoter) of Hexaware Technologies (Hexaware) have accepted Rs 475/share as the final price for delisting offer. We believe that through this offer price the acquirer and promoters along with other members of the promoter group would have minimum 91.16% shareholding through the reverse book building process, which would exceed the minimum number of equity shares required for delisting of shares. Hence, we believe this will lead to delisting of company shares (subject to regulatory approvals).

>> All public shareholders who have tendered their equity shares at or below the exit price will be paid a consideration of Rs 475/share. The last date for payment to all public shareholders whose bid have been accepted is September 30, 2020. Those public shareholders whose bids have been rejected will have their shares returned.

>> We believe those shareholders who have not tendered their shares or whose bids have been rejected will be given an opportunity to tender their shares at delisted price however the modalities of the same will be announced in due course. We would recommend that shareholders (who have not tendered their shares or whose bids have been rejected) exit at the current price, which is closer to the delisting price. This is since we believe post delisting of shares, the process of getting the delisted price (Rs 475/share) will be through the off market route over the next year. This may become a tedious process. Hence, we recommend that investors exit the stock at the current market price, which is closer to the delisting price.

12:49 PM

Nifty below 11,100