Sensex recoups 622-pt loss, ends 410 pts down; IT stocks worst hit

Negative global market cues and profit taking pushed both Sensex and Nifty lower for the first time in four days

4:25 PM

Tech View :: Volatile moves between 17600-18000 likely

The market witnessed a correction and an attempt to hold the level around the Nifty 50 Index level of 17600. It suggests that 17550-17600 will be an important support zone for the market to stay positive in the short term. If the market is able to sustain the level of 17550-17600, it can witness higher levels of 18000. Technical indicator suggests, a volatile movement in the market in a small range between 17600-18000.

-- Ashis Biswas, Head of Technical Research at CapitalVia Global Research

4:24 PM

'Broader market sentiments remain soft'

Nifty ended in the red on Sept 28, falling the most in the past week, though it recovered some of its losses. Nifty after making a low at 17576, staged a smart recovery. In this process it filled the upgap formed on Sept 23. In case this recovery continues and is sustained over the next 1-2 days, then Nifty will still have a chance to touch 18000. Advance decline ratio continues to be in the negative, reflecting the broader soft sentiments. 17802-17819 is the resistance in the near term for the Nifty while 17580-17611 is the support. 

-- Deepak Jasani, Head of Retail Research, HDFC Securities

4:22 PM

CLOSING COMMENTS :: S Ranganathan, Head of Research at LKP securities

Highly volatile trade witnessed today with significant swings on either side led by the IT & Oil & Gas Index. The PSE Index put up a stellar show today rising over 3% with power stocks making a smart up move. Despite the smart pullback from the lows of the day, declines were higher than advances in the broader market.

4:22 PM

MARKET QUOTE :: Vinod Nair, Head Of Research at Geojit Financial Services

Following negative global cues and profit booking in IT and realty sectors, the domestic market hit rough weather, however, it witnessed a rebound towards the closing.  Rise in US bond yield and crude oil price along with the Chinese crisis acted as key headwinds to the ongoing rally in the global market. Amid broad-based selling in the domestic market, public sector, energy and metal stocks traded higher.

4:22 PM

Sun Pharma jumps 4% on new product launch

>> Sun Pharma launched Chericof 12 in India, a novel formulation that provides relief from cough for up to 12 hours

4:15 PM

IDBI Bank rallies 8% on credit rating upgrade

>> ICRA on Monday upgraded IDBI Bank's existing rating to ''ICRA A+'' from ''ICRA A'' for Infrastructure bonds, Flexi Bond, Senior & Lower Tier II bonds, Subordinate debt

>> The rating upgrade factors in the sustained improvement in the credit profile of IDBI Bank Limited with expectations that the internal capital generation is likely to be sufficient for growth as well as for maintaining sufficient cushion over the regulatory capital requirements.

4:12 PM

Antony Waste Handling Cell tanks 7% post block deal

>> 4.5 million shares of the company changed hands via block deal

>> Reports suggest a large PE fund exited its stake in the company

>> Total transaction valued at Rs 150 crore

4:07 PM

BHEL surges 6% on bagging order from Goa Shipyard for warship gun mount

>> Goa Shipyard has placed a maiden order on Bharat Heavy Electricals Limited (BHEL) for supply of an upgraded Super Rapid Gun Mount (SRGM), the Main gun onboard most Warships of the Indian Navy.

4:01 PM

Power stocks spark upside in BSE Utilities index

>> The index gained over 1.7% & was the best performer on BSE in the sectoral space

3:59 PM

Nifty Realty tanks 3%, snaps 5-day winning run

Investors book profits in realty index after a 25% rally in 5 days

3:57 PM

Barring two, all stocks in the Nifty PSU Bank basket end higher

3:54 PM

Sector Watch :: Barring 3, all indices on NSE end in the red

>> Realty index worst performer, PSU Bank index best

3:48 PM

Broader markets end lower; Nifty Midcap100 closes down 0.67%

3:40 PM

Sensex Heatmap | Only 9 of 30 Sensex stocks end in the green

>> TOP GAINERS: Powergrid, Sun Pharma, NTPC, Titan

 

>> TOP LOSERS: Bharti Airtel, Tech Mahindra, Bajaj Finance
 

3:36 PM

CLOSING ALERT :: Nifty50 falls 106 points to close at 17,748 level

3:33 PM

CLOSING BELL :: Sensex recovers from day's low to end 410 points lower at 59,667

>> The index fell nearly 1,000 points in the intra-day session

3:22 PM

LIC seeks to appoint CFO before its mega IPO planned in 2021/22

State-backed Life Insurance Corp of India (LIC) is seeking to appoint a chief financial officer, according to a notification on its website, ahead of an initial public offering slated before the end of the fiscal year. The move to hire a CFO follows a decision to re-designate LIC's top job to chief executive officer from chairman earlier this year. LIC is currently under going a valuation exercise for an IPO that could be India's biggest ever as the government seeks to raise around 900 billion Indian rupees by selling 5%-10% stake in the company by the end of the fiscal year that runs through March. READ MORE

3:11 PM

Rising crude oil prices fire up energy stocks; Oil India surges over 6%

3:01 PM

Should you subscribe to AB Sun Life AMC IPO? Here's what analysts say

The initial public offer (IPO) by Aditya Birla Sun Life AMC (ABAMC), among the fourth-largest asset management companies (AMC) in India, will open for subscription on Wednesday, September 29. The company, which is a joint venture between Aditya Birla Capital and Sun Life AMC, looks to raise Rs 2,768.3 crore through an offer for sale by its two promoters. Hence, the company will not receive any proceeds from the share sale. The IPO is priced at Rs 695-712 per share and investors can bid for a minimum lot of 20 shares and in multiples thereof. READ MORE

2:47 PM

BSE Snapshot :: Advance-decline ratio favours sellers

2:45 PM

BPL, Gopala Polyplast, Contiental Chem and 25 others zoom 150% in one month

Shares of BPL, Gopala Polyplast, Continental Chemicals, Sindhu Trade Links, JITF Infra Logistics and Rajnish Wellness are among 25 stocks that have rallied more than 150 per cent in the past one month. In comparison, the S&P BSE Sensex and the S&P BSE Smallcap index have gained 5.6 per cent each, while the S&P BSE Midcap index has added 7.3 per cent in the same period. READ MORE

Illustration: Binay Sinha

2:33 PM

ALERT :: Sensex slides nearly 1,000 pts

2:13 PM

European shares drop to one-week lows on tech slide, China woes

European stocks sank to their lowest in a week on Tuesday as a surge in government bond yields knocked high-growth technology shares, with fresh signs of a slowdown in China's economy weighing on investor sentiment.

Source: Reuters

2:11 PM

BHEL gets order from Goa Shipyard for supply of an upgraded super rapid gun mount

1:58 PM

Improving business prospects, divestment make analysts bullish on PSU stks

Stocks of public sector companies, especially the oil refining and marketing companies (OMCs) – Bharat Petroleum Corporation Limited (BPCL), Hindustan Petroleum Corporation Limited (HPCL) and Indian Oil Corporation Limited (IOC) – logged gains on Tuesday in a weak market. While the Nifty lost nearly 1 per cent in trade on Tuesday, the Nifty CPSE index – a gauge of performance of central public sector enterprises on the National Stock Exchange (NSE) – gained over 3 per cent in intraday trade. READ MORE

 

1:54 PM

NEWS ALERT :: RVNL bags order worth Rs 381.95 crore

Click here for details

1:44 PM

BSE Healthcare index falls over 1% dragged by Metropolis Health, Dr Lal PathLabs

1:32 PM

US futures are fairly in red, Nasdaq futures are down over 1%

The US futures are trading on a negative note. The Dow Jones and S&P 500 indices are down 0.3 per cent and 0.6 per cent, respectively, while the Nasdaq futures have declined 1.3 per cent.

(Image source: Investing.com)

1:19 PM

Cera Sanitaryware zooms 12%, hits new high on healthy outlook

Shares of Cera Sanitaryware rallied 12 per cent to hit a new high of Rs 5,699 on the BSE in Tuesday’s intra-day trade on expectations of healthy demand for sanitaryware, faucetware and tiles. The stock surpassed its previous high of Rs 5,050 touched on September 24, 2021. In the past one week, it has zoomed 25 per cent, as compared to a 1 per cent rise in the S&P BSE Sensex. READ MORE

1:08 PM

ALERT :: Bears drag Nifty to 17,650