Sensex tumbles 839 pts on broad-based sell-off; Nifty Bank declines over 3%

All that happened in the markets today

4:07 PM

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

Indian benchmark indices had a volatile outing today and finally closed with losses of around 2.6% in a news heavy day. Although markets opened with gains, it quickly succumbed to a bout of selling, following profit booking after the recent runup. The losses extended, following reports of increased tensions along the border with China. With increased geopolitical tensions, markets also traded uncertainty and this could impact the market behaviour in the coming days. Investors are advised to remain cautious.

3:45 PM

SECTOR WATCH:: All the sectoral indices on the NSE end in the red

3:43 PM

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

3:36 PM

CLOSING BELL

The S&P BSE Sensex tanked 839 points or over 2 per cent to settle at 38,628.29 while NSE's Nifty lost 260 points or 2.23 per cent to end at 11,387.50.

3:29 PM

RIL slips over 2%

3:18 PM

INDEX LOSER:: Sun Pharma slips over 6%

3:06 PM

MARKET CHECK

3:00 PM

Geopolitical tension, profit booking: 5 reasons why markets corrected today

India-China geopolitical tension: Rising political tension between India and China punctured the morning momentum on Monday. According to reports, the situation in Eastern Ladakh flared again on the intervening night of August 29/30 when troops of China's People's Liberation Army (PLA) violated the "previous consensus" arrived at during military and diplomatic engagements. Following the development, the Srinagar-Leh highway has been closed for civilians, reports suggest. READ MORE HERE

2:53 PM

Aug Auto Sales Expectations :: Nirmal Bang Institutional Equities

2:50 PM

Aug Auto Sales Expectations :: Motilal Oswal Finacial Services

2:45 PM

MARKET UPDATE:: India VIX surges 26%

2:41 PM

MARKET CHECK :: Sensex tanks nearly 1000 pts

2:35 PM

NEWS ALERT :: July eight core industries' growth comes in at -9.6% vs -12.9% MoM

2:34 PM

SmallCaps see biggest drop since March 23

2:28 PM

MARKET CHECK

2:25 PM

MARKET CHECK :: Indices log biggest fall since June 11

2:21 PM

Nifty Bank faces resistance at 200-DMA, focus shifts on mid-cap banks

NIFTY BANK: On Monday, the index resisted at 200-day moving average (DMA) placed around 25,084 levels. This indicates some profit-booking and may result in building short positions if the downtrend continues for another two sessions. That said, the overall trend is highly bullish in terms of the sentiment. This may defend the lower support area at 23,400 to 23,600 levels. The Relative Strength Index (RSI) appears to be in an overbought condition, but the momentum on the Moving Average Convergence Divergence (MACD) appears to strongly hold the upside. READ MORE 

2:15 PM

ICICI Bank, Kotak Mahindra Bank, and HDFC top contributors to Sensex's fall today

2:07 PM

Rupee Closing

Rupee ends weaker at 73.59 per US dollar vs Friday's close of 73.38/$

2:02 PM

PNC Infratech: Order book, monetisation of HAM projects to unlock value

PNC Infratech has reported better‐than‐expected performance during Q1 FY21 (considering covid‐19 related impact). Its revenue declined 31.5 per cent YoY on standalone basis, largely impacted by operational shutdown during initial 20 days of Arp’20. Also, labor issues and disrupted supply‐chain, and early onset of monsoon impacted execution pace. READ MORE

1:54 PM

NEWS ALERT | SRF board approves raising up to Rs 1,000 crore: Exchange filing

1:50 PM

European indices trade higher in early deals

1:38 PM

MARKET UPDATE:: Sensex extends fall

1:34 PM

Rupee retreats from six-month high on India-China border tensions

The Indian rupee retreated from near six-month highs on Monday afternoon after reports of fresh border tensions with China came to light, said traders.

 

India said it had foiled an attempt by Chinese troops to change the status quo on their disputed and ill-defined border in a fresh flare-up between the two nuclear-armed countries. READ MORE

1:18 PM

NMDC under pressure, stock declines over 8%; other mining stocks fall too

At 01:07 pm, NMDC was trading nearly 9 per cent lower at Rs 98.05 on the BSE. The stock hit a low of Rs 97.45 during the session. Other mining stocks, too, were trading in the negative territory. MOIL was trading over 3 per cet lower at Rs 148.50 while Sandur Manganese & Iron Ore was trading over 6 per cent lower at Rs 714.95. READ MORE 

12:59 PM

New margin pledge system: Sebi to meet brokers, depositories today

This would be their third meeting with Sebi. The regulator has already met twice this month and discussed the preparedness with the depositories (CDSL and NSDL), stock brokers association and clearing corporations. READ MORE

12:43 PM

Vedanta: Delisting price may be significantly higher, say analysts

As the Vedanta Group completed fund raising recently to accomplish its objective of share buy-back and delist Vedanta Limited (Vedanta) from the exchanges, all eyes are now on the proceedings from here on, especially the delisting price investors are eyeing. The promoter group (led by Vedanta Resources Plc) had given an indicative offer price of Rs 87.5 a share on 12th May, which was at a discount to the then prevailing share price as well as a 41 per cent discount to its FY20 book value. READ MORE

12:34 PM

Wockhardt freezes at 5% lower circuit post weak operating performance in Q1

Shares of Wockhardt were locked in the 5 per cent lower circuit band at Rs 312.55 on the BSE on Monday despite turning profitable in the June quarter of FY21. The pharmaceutical company posted consolidated net profit of Rs 760 crore, as against net loss of Rs 36.88 crore in the year-ago quarter. The was mainly on account of exceptional items in connection with the transfer of a business comprising 62 products and Baddi facility to Dr Reddy's Laboratories, it said in a statement. In comparison, the S&P BSE Sensex was down 0.7 per cent at 12:04 pm. READ MORE

12:20 PM

Book profit in bank stocks even as moratorium period ends today: Analysts

Bank stocks gained ground at the bourses in early morning deals on Monday, as investors looked forward to the debt restructuring system kicking-in from September 1, allaying concerns regarding the six-month moratorium period. Nifty Bank index topped the 25,000-mark, and hit a high of 25,233, up 2.4 per cent on the NSE. However, a correction in the markets on account of geopolitical issues saw the markets and these stocks pare morning gains as trade progressed. READ MORE

12:07 PM

MARKET UPDATE:: Broader indices underperform benchmarks; India VIX surges 13%