MARKET: Sensex tanks 634 pts on broad-based sell-off; Nifty Bank slips 2%
All that happened in the markets today
 "(Photo: Kamlesh Pednekar)")
(Photo: Kamlesh Pednekar)
The Indian markets ended over 1.5 per cent lower on Friday amid across-the-board sell-off. The volatility index, India VIX, rose over 7 per cent to 21.95 levels.
The S&P BSE Sensex tanked 634 points, or 1.63 per cent, to settle at 38,357 levels. Of 30 constituents, 29 declined and just one advanced. Axis Bank (down 4 per cent) ended as the biggest loser on the index. On the other hand, Maruti ended as the only gainer (up nearly 2 cent).
Reliance Industries (RIL), HDFC, ICICI Bank, and Infosys were the major contributors to the Sensex's loss.
NSE's Nifty ended at 11,334, down 194 points or 1.68 per cent.
On a weekly basis, Sensex declined 2.8 per cent while NSE slipped 2.69 per cent.
On a weekly basis, Sensex declined 2.8 per cent while NSE slipped 2.69 per cent.
All the Nifty sectoral indices were painted red, led by Nifty Metal, which slipped 3 per cent to 2,451 levels. Nifty Bank dipped over 2 per cent to 23,011.50 levels, with all the 12 constituents declining.
In the broader market, the S&P BSE MidCap index fell 1.74 per cent to 14,817 levels while the S&P BSE SmallCap index fell over 1 per cent to 14,603 points.
Buzzing stocks
In the broader market, the S&P BSE MidCap index fell 1.74 per cent to 14,817 levels while the S&P BSE SmallCap index fell over 1 per cent to 14,603 points.
Buzzing stocks
Shares of Vodafone Idea (VIL) hit a 15-month high of Rs 13.45 during the session on the BSE ahead of the company's board meeting later in the day to consider fund raising plan. The stock, however, ended at Rs 12.01 on the BSE, down over 4 per cent. READ MORE
Granules India hit an all-time high of Rs 350 during the session, up 8 per cent. The stock settled at Rs 346, up nearly 6.5 per cent.
Shares of CreditAccess Grameen rallied 9 per cent to hit a high of Rs 749 on the BSE in the intra-day session after the company announced that its board has approved Rs 1,000 crore fund raising plans. The stock ended at Rs 703.40, up over 2 per cent. READ MORE
Shares of CreditAccess Grameen rallied 9 per cent to hit a high of Rs 749 on the BSE in the intra-day session after the company announced that its board has approved Rs 1,000 crore fund raising plans. The stock ended at Rs 703.40, up over 2 per cent. READ MORE
Global markets
China stocks closed lower on Friday after a sharp overnight selloff in Wall Street, with the benchmark Shanghai index posting a weekly loss after a five-week winning streak.
The blue-chip CSI300 index fell 1 per cent to 4,770.22, while the Shanghai Composite Index ended 0.9 per cent lower at 3,355.37.
In commodities, oil held around $44 a barrel and was heading for its biggest weekly decline since June, as weak demand figures added to concerns of a slow recovery from the Covid-19 pandemic.
(With inputs from Reuters)
4:17 PM
MARKET COMMENT:: Vinod Nair, Head of Research at Geojit Financial Services
A selloff in US technology stocks had a cascading effect on global markets and Indian benchmark indices reacted to this and closed with losses of around 1.5 per cent. European markets were trading positive in early trades, following merger talks and expectation of more stimulus measures. The US jobs data, due later in the day, will set the tone for global market trends. Financials contributed most to the losses. Benchmark indices closed lower by around 2.9 per cent on a weekly basis, as the liquidity-fuelled run lost out to political and global uncertainties.
WEEK AHEAD
Uncertainties await the market for next week, be it global economic data points or geopolitical uncertainties related to Indo-China border tensions. Indian markets have been in sync with their global counterparts and will have an impact. Markets seem to have lost their momentum in the near-term and could be heading into a round of consolidation. Investors advised being alert and cautious.
3:43 PM
SECTOR WATCH:: Nifty Metal index cracks over 3%
3:42 PM
MARKET AT CLOSE: Out of 30 constituents of S&P BSE Sensex, 29 end in the red
3:36 PM
CLOSING BELL
The S&P BSE Sensex tumbled 634 points, or over 1.6 per cent to 38,357 levels while NSE's Nifty ended at 11,334, down 194 points, or 1.68 per cent.
3:29 PM
MARKET CHECK:: Barring Maruti, all the stocks in the S&P BSE Sensex trade in the red
3:19 PM
Top gainers on the BSE at this hour
3:07 PM
MARKET CHECK
3:03 PM
Vodafone Idea pares gains ahead of board meet to consider fund raising
2:50 PM
MARKET UPDATE:: Sensex plunges to day's low
2:42 PM
Granules India rallies 8% in a weak market, hits fresh all-time high
Shares of Granules India hit an all-time high of Rs 350 in an otherwise weak market, ralling 8 per cent on the BSE on Friday. Thus far in the current week, the stock of the pharmaceutical company has surged 13 per cent as compared to 2 per cent decline in the S&P BSE Sensex. It surpassed its previous high of Rs 336 touched on August 10, 2020. READ MORE
2:28 PM
India pins hopes on farms to boost a troubled economy. It may not be enough
While farming was the only industry to post positive growth in the June quarter’s gross domestic product data, the rapid spread of the coronavirus in rural areas and declining prices are set to weigh on the outlook. READ MORE
2:16 PM
BUZZING STOCK:: Granules India surges 7%
2:10 PM
Rupee Closing
Rupee ends higher at 73.14 per US dollar vs Thursday's close of 73.47/$
2:09 PM
March Quarter Result :: Future Retails posts consolidated net loss of Rs 478 cr vs profit of Rs 199.31 cr YoY
>> Revenue at Rs 4,492.36 cr
>> Other income at Rs 40.25 cr
>> Other income at Rs 40.25 cr
1:59 PM
Localised lockdown impacting ITC's recovery pace, outlook uncertain: Sanjiv Puri
Despite progressive normalisation in segments other than hotels and education and stationery products business, ITC Chairman, Sanjiv Puri, said on Friday at the company’s annual general meeting, that the near-term outlook was uncertain and localized lockdowns were impacting the recovery momentum. READ MORE
Topics : Markets Vodafone Idea GVK Power and Infrastructure 15th Finance Commission Future Retail Jubilant Life Sciences Reliance Industries MARKET WRAP
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First Published: Sep 04 2020 | 7:38 AM IST
