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

All that happened in the markets today

Image SI Reporter New Delhi
Sensex tanks 997 pts from day's high, breaches 44K; Nifty ends at 12,859

Volatility index, India VIX, jumped 10 per cent to 23.1 levels.

After scaling fresh record highs in the morning trade, the domestic equity market tumbled around 1.5 per cent on Wednesday as investors booked profit across-the-board. Volatility index, India VIX, jumped 10 per cent to 23.1 levels. 

Among headline indices, the S&P BSE Sensex ended 695 points, or 1.56 per cent lower at 43,828 levels while NSE's Nifty ended at 12,858, down 197 points, or 1.51 per cent. In the early trade, Sensex hit a high of 44,825.37 while Nifty scaled the peak of 13,146 levels. 

Investors lost over Rs 2.2 trillion in today's trade as the market capitalisation of BSE-listed companies slipped to Rs 172.5 trillion against Rs 174.8 trillion on Tuesday. 

Out of 30 constituents of Sensex, 27 declined and just 3 advanced. ONGC ended as the top gainer - up over 6 per cent.

In the broader market, the S&P BSE MidCap declined 1.76 per cent to 16,444 levels while the S&P BSE SmallCap index fell over 1 per cent to 16,363 points. 

On the NSE, barring Nifty PSU Bank index, all other sectoral indices ended in the red. Nifty PSU Bank index gained nearly 2 per cent to 1,509.85 levels. 
 
Global markets

World shares rallied to a record peak on Wednesday following an overnight surge that saw the Dow Jones benchmark crack 30,000 for the first time as investors cheered a dramatically improved global outlook. 

In Asia, Japan’s Nikkei rallied 0.5% to a 29-year high while MSCI’s index of Asia-Pacific shares outside Japan gave up early gains to trade down 0.2% as Chinese shares were capped by worries about rising debt defaults.

In commodities, oil rose for the fourth straight session on Wednesday as the market shrugged off an industry report showing US crude stockpiles rose more than expected, extending a rally driven by hopes that a Covid-19 vaccine will boost fuel demand.

(With inputs from Reuters)
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
HNI, high net worth individuals, rich, billionaires, millionaires, investors, investment, stocks, valuations, brokers, earnings

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
crude oil prices

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
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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
reserve bank of india, rbi

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

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First Published: Nov 25 2020 | 7:48 AM IST

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