Bears return to D-Street after 3 days; Sensex tanks 598 pts, ends below 51K

4:13 PM

TECH VIEW :: Rohit Singre, senior technical analyst at LKP Securities

Index opened a with a gap down on weak global cues though we saw some bounce but again in the second half we witnessed profit booking and index closed a day at 15080 with loss of one percent and formed a bearish candle on the daily chart. Going forwards index has one good support at 15k mark if managed to hold above that then some pullback otherwise more profit booking can be seen, on the higher side 15150-15200 zone will be stiff hurdle

4:05 PM

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

Domestic markets along with its global peers mirrored the wounded trend of the US market. The surge in US bond yields added selling pressure in technology stocks, forced Wall Street to close lower. Blue-chips were much affected by the weak global cues, but Mid & Small caps with its increased investor confidence retained its positive momentum

 

3:56 PM

MARKET RECAP :: S Ranganathan, Head of Research at LKP Securities

Markets opened weak on muted global cues and drifted lower during the afternoon even as we saw heightened investor interest in PSU stocks on hopes of privatisation and asset monetisation. In the broader market Sugar stocks registered smart gains for the second day in a row

3:53 PM

Stocks that dragged the Sensex lower today

3:44 PM

Sectoral trends on NSE at Close

3:40 PM

Sensex Heatmap at Close

3:35 PM

CLOSING BELL

The benchmark indices tumbled over 1 per cent to end the session at day's low. The S&P BSE Sensex settled the day at 50,846 levels, down 598 points or 1.16 per cent. The Nifty50, meanwhile, defended the 15,000-mark and closed at 15,081 levels, down 165 points or 1.08 per cent.

 

3:27 PM

$500 mn deal with Google pulls Infosys in focus; analysts see 35% upside

The stock, however, has lagged benchmark Nifty on a year-to-date basis as it added 7 per cent against a 9 per cent rise in the Nifty50. The underperformance could soon come to an end, believe analysts, who eye an up to 35 per cent upside in the stock from current levels. READ MORE

3:16 PM

Gold is down 11% so far in 2021; time to exit Muthoot Fin, Manappuram Fin?

Gold futures were trading at Rs 44,849 per 10 grams on the MCX on Thursday, having fallen nearly 11 per cent so far in CY21. Besides, prices have corrected by more than Rs 10,000 per gram from all-time high of Rs 56,200 made in August 2020 as elevated US Treasury yields raised opportunity cost for holding it compared to bonds.
 

Moreover, projection of positive global growth coupled with improving economic conditions, following the roll-out of coronavirus vaccine, further dampened the safe-haven’s appeal. READ MORE

3:07 PM

Cement shares in demand; UltraTech, Ambuja, Ramco Cement hit new highs

Orient Cement rallied 13 per cent to Rs 113.65, also its 52-week high, on the back of two-fold jumped in trading volumes. India Cements, too, hit a 52-week high of Rs 187, up 7 per cent on the BSE. UltraTech Cement, Star Cement, Shree Cement, Ambuja Cements, ACC, JK Cement and JK Lakshmi Cement were up between 3 per cent and 5 per cent. In comparison, the S&P BSE Sensex was down 0.87 per cent at 50,991 points, at 02:51 pm. READ MORE

2:52 PM

Balrampur Chini hits fresh record high; stocks rallies 18% in 4 days

Shares of Balrampur Chini Mills, in Thursday's intra-day deals, soared 8 per cent on the BSE and hit a record high of Rs 208.80, in an otherwise subdued market. The stock has now rallied 18 per cent in the past four trading days. The stock surpassed its previous high of Rs 205, touched on April 21, 2006. In the past one month, Balrampur Chini Mills has outperformed the market by surging 27 per cent, as compared to 0.88 per cent rise in the S&P BSE Sensex, on account of sharp rise in surge prices in international market. However, in six months, it performed in line with the benchmark index, which gained 33 per cent during the period. READ MORE

2:51 PM

Flipkart said to weigh US listing with SPAC as option

> Flipkart could seek at least $35 billion in valuation 

> SPAC stands for Special Purpose Acquisition Company

(Source: Agencies)

2:37 PM

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

2:32 PM

Global Market Check :: US Futures recover in early European trade

> Nasdaq 100 E-minis were up 0.15%

> S&P 500 E-minis turned flat

2:22 PM

NEWS ALERT :: FM meeting Sebi head, Fin Min officials on NSE tech glitch

Source: A TV report said, citing government official

2:18 PM

Rising US yields knock European stocks, miners slump

European stocks fell on Thursday after three straight sessions of gains as a jump in U.S. bond yields knocked risk appetite globally, with heavyweight miners and travel stocks leading the retreat. The pan-European STOXX 600 index fell 0.5% in early trading, with miners dropping 2.8% and travel & leisure stocks down 1.6%.

 

(Source: Reuters)

2:15 PM

NEWS FLASH :: EPFO maintains interest rate at 8.5% for FY21, say sources

> EPFO stands for Employees' Provident Fund Organisation

2:04 PM

NEWS ALERT :: Delhi HC directs SII, Bharat Bio to disclose capacity to manufacture Covaxin, Covishield

1:57 PM

SECTOR WATCH:: Cement stocks trade largely higher in an otherwise weak market

COMPANY NAME	LATEST	HIGH	LOW	CHG(%)
Udaipur Cement	23.00	23.25	22.25	2.91
Shiva Cement	21.10	21.30	20.70	-0.24
Ambuja Cements	284.80	285.05	278.85	0.98
Sanghi Industrie	44.65	45.10	42.40	2.06

1:45 PM

IRCTC's shares pick up speed on marked revival in travel activity

Shares of Indian Railway Catering and Tourism Corporation (IRCTC) are up almost 30 per cent since the start of February as investors are betting on the easing of Covid-19 related restrictions and a pickup in vaccination drive to boost travel activity. The stock made a 52-week of Rs 1,989 on Tuesday, and last traded at Rs 1,884.35 on Wednesday on the BSE. The government-owned railways' catering and ticketing company had seen business come to a halt as train operations were severely impacted in the first half of the ongoing fiscal due to the outbreak of Covid-19 and lockdowns. READ MORE

1:35 PM

A few things the RBI should be mindful of before issuing own bonds

In view of the huge liquidity inflows into Indian markets, authors of the Report on Currency and Finance (RCF) that was published by Reserve Bank of India last week have an interesting proposal to manage the influx. RBI should be able to issue its own bonds to mop up the excess liquidity, the report argued. Globally this is not new, as many global central banks like those in Switzerland, Japan and Sweden issued their own bonds to absorb liquidity in the aftermath of the global financial crisis. READ MORE

1:24 PM

BUZZING STOCK:: BHEL zooms 8% in an otherwise weak market

1:04 PM

Recovery from intra-day lows in today's trade

COMPANY	DAY'S LOW(RS)	DAY'S HIGH(RS)	LATEST(RS)	RISE(%)
Adani Power	62.40	71.40	71.40	14.42
Indbull.RealEst.	101.10	119.35	115.00	13.75
APL Apollo Tubes	1133.00	1293.00	1287.95	13.68
Ujjivan Small	33.10	38.35	36.95	11.63

12:54 PM

Adani Ports surges 5% as Co set to acquire stake in Gangavaram Port

Shares of Adani Ports and Special Economic Zone (APSEZ), on Thursday, rallied 6 per cent to hit a new high of Rs 765.70 on the BSE in intra-day trade after the company said it acquiring 31.5 per cent stake held by Warburg Pincus - in Gangavaram Port (GPL) for a consideration of Rs 1,954 crore. GPL is located in the northern part of Andhra Pradesh next to Vizag Port. It is the second largest non major port in Andhra Pradesh with a 64 MMT capacity established under concession from Government of Andhra Pradesh (GoAP) that extends till 2059. READ MORE

12:52 PM

Japanese Yen near seven-month low, Asian shares fall as bond yields rise

The Japanese yen hit a seven-month low on the dollar on Thursday as hopes that vaccine distribution and more government stimulus will drive the U.S. economy into a solid rebound lifted the greenback and benchmark Treasury yields.

 

But the creep up in benchmark yields may weigh on Asian stocks, as wary investors recall last week's sell-off in government bonds that caused yields to spike, spooking equity markets and causing shares to tumble. READ MORE

12:36 PM

BUZZING STOCK :: Ion Exchange slips for 2nd day, sheds over 5%

> Ace investor Rakesh Radheyshyam Jhunjhunwala and his firm Rare Investments offloaded stake worth Rs 65 crore in the company on Tuesday.

12:32 PM

Ind-Ra revises PNB Housing Finance's NCDs to negative

India Ratings and Research (Ind-Ra) has revised the outlook on PNB Housing Finance's (PNBHF's) non-convertible debentures (NCDs) to negative from stable while affirming the rating at AA.

 

The size of issue is Rs 15,517 crore, down from Rs 21,897 crore earlier. READ MORE
 

12:22 PM

IRCTC hits all-time high; stock rallies 32% in a month on improved outlook

Shares of Indian Railway Catering and Tourism Corporation (IRCTC) hit an all-time high of Rs 2,015, up 7 per cent on the BSE in the intra-day trade on Thursday, as analysts remain bullish on the counter. The stock of the government-owned railways' catering and ticketing company, which surpassed its previous high of Rs 1,995, touched on February 25, 2020, has appreciated by 32 per cent over the past one month as compared to less than 1 per cent gain the S&P BSE Sensex. READ MORE

12:12 PM

Upside for Tata Communications hinges on data growth, esp newer segments

After falling 14 per cent on lower than expected results in the December quarter, the stock of Tata Communications more than erased the losses gaining 26 per cent since then. Half of those gains came in the last two trading sessions due to an increase in target price.

 

The triggers being land bank monetisation and robust growth in data services. With the government looking to offload its 26 per cent stake in the company through an offer for sale, the company will have the option to monetise the 756 acres of surplus land across the country. READ MORE

12:01 PM

Nifty at 15,000: Should you stay bullish and look for opportunities?

The bears made a comeback on Dalal Street, reminding investors of last week's drubbing, when the markets opened for trade on Thursday as concerns over spike in bond yields rekindled. The domestic markets, in the first three sessions of this week, had managed to recoup all losses sustained in Friday's session and were eyeing the all-time high levels on the back of strong macroeconomic data and stabilisation of bond yields. But come Thursday, the US bond yields which have become influential on stock prices, globally, spiked to 1.48 per cent, resulting in a 900-point crash on Sensex and pushing Nifty below 15,000. READ MORE