Sensex tanks 997 pts from day's high, breaches 44K; Nifty ends at 12,858

All that happened in the markets today

4:12 PM

MARKET COMMENT | Ajit Mishra, VP - Research, Religare Broking

Markets drifted lower and lost over one and a half per cent, taking a breather after the recent surge. Participants were in the profit-taking mood from the beginning, citing overbought markets and a cautious approach ahead of derivatives expiry. Consequently, the Nifty index ended near day’s low at 12,858 levels, down by 1.5 per cent. In line with the benchmark, the broader indices, too, witnessed a decline wherein midcap lost 1.8 per cent and smallcap ended with a cut of 1.1 per cent. Among the sectoral indices, banks, auto, and healthcare were the top losers.

 

It’s normal to see an intermediate dip in a trend and we may see further profit-taking ahead. Besides, volatility is also likely to remain high due to scheduled derivatives expiry. Nifty has the next crucial support at 12,700. Considering the scenario, we suggest limiting naked leveraged trades and preferring hedged positions. 

 

3:43 PM

Nifty PSU Bank index bucks the trend, ends nearly 2% higher

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 slipped 695 points, or 1.56 per cent to settle at 43,828 levels while NSE's Nifty ended at 12,858, down 197 points, or 1.51 per cent.

3:29 PM

MARKET CHECK

3:22 PM

MARKET CHECK | Sensex slips over 1.5%

3:12 PM

BSE Midcap index slips 1.7%

3:05 PM

Cabinet decisions :: Govt will put in Rs 6,000 in National Investment and Infrastructure fund, says Prakash Javadekar

2:55 PM

Tanla Platforms rebounds 11% from day's low; stock zooms 98% in one month

Shares of Tanla Platforms were up 5 per cent at Rs 556, bouncing back 11 per cent from the day's low on the BSE on Wednesday, on the back of heavy volumes. The stock of the cloud communication service provider got locked in the lower circuit of 5 per cent to Rs 503 in intra-day trade today. In the past one month, the stock has zoomed 98 per cent, as compared to an 8-per cent rise in the S&P BSE Sensex. READ MORE

2:48 PM

Passenger cars brightest spot in auto industry on high festive demand

There was a strong demand for Maruti and Tata Motors. Even Hyundai is performing well, and has been able to solve the vendor issues. The worst hit due to vendor issues is M&M (both on the autos side as well as Tractors side). Foreign players like Honda, Renault, Skoda, Ford, VW, MG etc also were among the worst hit. READ MORE

2:40 PM

Top losers on the BSE at this hour

2:30 PM

Contribution to the S&P BSE Sensex's fall today

2:20 PM

ONGC, Aban Offshore: Oil exploration stocks may rally further, charts show

Shares of oil exploration and production companies gained ground on Wednesday owing to a rise in crude oil prices. Oil prices gained for the fourth day on Wednesday, extending a rally driven by hopes that a Covid-19 vaccine will boost fuel demand. On Tuesday, oil prices rose about 4 per cent to touch the highest level since March. READ MORE

2:14 PM

Nifty Bank index falls over 900 pts from day's high

2:06 PM

MARKET UPDATE:: Sensex falls 500 points, gives up 44k

2:01 PM

European indices trade higher in early deals

1:53 PM

Shriram Transport Finance hits 8-month high; stock soars 56% in November

Shares of Shriram Transport Finance hit an eight-month high of Rs 1,079, up 4 per cent on the BSE on Wednesday on expectation of further improvement in collection. The stock was trading at its highest level since March 6, 2020. In comparison, the S&P BSE Sensex was down 0.33 per cent at 44,376 points, at 01:33 pm. READ MORE

1:38 PM

More policy space can be created only when inflation eases, says MPC member

The Reserve Bank of India has cut interest rates by “a great deal” and more policy space can be created only when inflation eases, its executive director and rate-panel member Mridul Saggar said. Inflation is being driven by supply-side problems and is likely to stay elevated for a while, he said at the Emerging Markets Central Banking Summit organized virtually by the Washington-based Institute of International Finance. Although food prices -- which contribute significantly to India’s inflation basket -- are expected to correct significantly by December, he said it isn’t easy to bring prices down under pandemic conditions. READ MORE

1:28 PM

Sequoia-run Surge, Info Edge invest $6 mn into SaaS-based startup Shipsy

Founded in June 2015 by IITians Soham Chokshi, Dhruv Agarwal, Himanshu Gupta and Sahil Arora, Shipsy brings together all the stakeholders of the international logistics ecosystem on a single platform. The approach is to create a SaaS workflow management platform that allows network participants to collaborate and work together, reducing process bottlenecks, enhancing efficiency and bringing transparency. The Gurugram-headquartered firm has raised about Rs 10 crore till date, and has customers across Dubai, Saudi Arabia, North Africa, Singapore and Malaysia among others. READ MORE

1:20 PM

NEWS ALERT :: Union Minister Prakash Javdekar to brief media on Cabinet decisions at 3 pm today

1:17 PM

MARKET CHECK :: Sensex off lows

1:03 PM

BROKERAGE VIEW | Angel Broking on Metropolis Healthcare

Metropolis Healthcare is a leading pathology centre in India. The company has an asset-light model with a strong balance sheet. New guidelines issued by Maharashtra Government for travellers entering the state from Delhi, Rajasthan, Gujarat and Goa will have to compulsorily undergo RT PCR test is positive for the business of the company.  Due to Covid-19, the company is doing better business than in the non-Covid environment as testing such as RT PCR and antibody is leading to increased revenue and profitability for the company. The non-covid business portfolio is close to normalcy and is in improving trend MoM. We continue to have a buy rating on the company by revising the target price upwards to Rs 2,593 by valuing it at 36x EV/EBIDTA FY22E.

12:58 PM

ALERT :: India VIX jumps over 6%

12:49 PM

Emami gains 3%, hits 52-week high in an otherwise subdued market

In the past one week, Emami has outperformed the market by gaining 9 per cent after the company announced its forays into home hygiene space with ‘EMASOL’. With this launch, the Company, which so far enjoyed a leading presence in the personal care and healthcare space, makes a big bang entry into the homecare segment for the very first time. The benchmark index was remained flat during the same period. READ MORE

12:37 PM

Heatmap: S&P BSE Sensex gainers and losers at this hour

12:36 PM

Steady volume gains a positive sign for Adani Ports and SEZ stock

The Adani Ports and SEZ stock is trading close to its 52-week high and has gained about 9 per cent since the beginning of the month. Half the gains came on Tuesday after the company was recently ranked 14th in the transportation and transportation infrastructure sector by the Dow Jones Sustainability Emerging Markets Index 2020. READ MORE

12:27 PM

BROKERAGE VIEW | Centrum Broking on IT Services

Tier I IT Services vendors delivered strong revenue performance 2QFY21 with constant currency revenue growth of 2-4.8% QoQ. Most vendors showed a steady bounce back in 2QFY21 compared to 1Q which was a low base quarter owing to Covid led weakness. Cloud migration, Touchless interface and accelerated Digital Transformation led spends from select B2C vertical clients led to strong bounce back in growth. Margin performance continued to remain strong with Work from Home led cost savings aiding margin trajectory. While Work from Home efficiencies, lower travel costs are driving margins in medium term, we believe that it will be passed on to clients through pricing reduction in long term.  We continue to maintain our relative preference for HCL Tech, Infosys and Wipro among Tier 1 IT vendors. Coforge and Persistent remain preferred midcap picks. Mastek remains our small cap pick.

12:21 PM

Fall from intra-day high today

COMPANY	DAY'S HIGH(RS)	DAY'S LOW(RS)	LATEST(RS)	FALL(%)
SUNTECK REALTY	375.60	323.30	334.50	-10.94
J & K BANK	25.50	23.00	23.20	-9.02
BLISS GVS PHARMA	181.10	163.25	166.45	-8.09
T.V. TODAY NETW.	219.00	201.90	201.90	-7.81

12:21 PM

Two-wheeler exports to decline by 18-21% in FY21, says India Ratings

Ratings agency India Ratings and Research (Ind-Ra) said it expects the two-wheeler (2W) exports decline for FY21 to be in line with that of the domestic industry at 18-21 per cent. It added that since two-wheeler exports only accounted for 16-18 per cent of the total two-wheeler sales for Indian OEMs, this was not likely to be substantial enough to compensate for the domestic volumes during the same period. Two-wheeler export volumes are likely to increase by mid-teens in FY22, the ratings agency said. READ MORE

12:12 PM

NEWS ALERT :: HDFC to buy 19.95% stake in Renaissance Investment Solutions ARC for Rs 49,87,500