MARKET WRAP: Sensex tanks 812 pts amid weak global cues; India VIX up 13%

All that happened in the markets today

2:27 PM

MARKET CHECK | Indices under pressure; Sensex slips over 650 pts

2:27 PM

FinCEN files: Almost all Indian banks named for suspicious transactions

Between 2010 and 2017, a number of Indian banks, irrespective of ownership – public, private and foreign -- helped facilitate transactions red-flagged by the Treasury Department’s Financial Crimes Enforcement Network (FinCEN) for suspected money laundering, terrorism, drug dealing and financial fraud, latest leaks suggest.

 

International Consortium of Investigative Journalism (ICIJ) obtained the top-secret Suspicious Activity Reports or SARs, worth more than $2 trillion globally. These transactions are not outright evidence of frauds or proof of nefarious activities, but are red-flagged by the US authority as suspicious. READ MORE
 

2:17 PM

Rupee Closing

Rupee ends 73.39 per US dollar vs Friday's close of 73.45/$

2:07 PM

Hindustan Unilever hits over 3-month low; stock falls 12% in 2 months

In the past two months, HUL has underperformed the market by falling 12 per cent after it reported a mixed set of numbers for the quarter ended June 30, 2020 (Q1). In comparison, the S&P BSE Sensex has risen 2 per cent during the period. The company paid a dividend of Rs 23.50, including a special dividend of Rs 9.50 per share since June. READ MORE

1:59 PM

MARKET CHECK

1:51 PM

MARKET CHECK :: Nifty tests 11,400

1:44 PM

Angel Broking IPO: Best suited for investors with high risk appetite

With a better acceptance for initial public offerings (IPOs) and a huge spurt in direct retail participation in the equity markets, the timing for Angel Broking to hit the floor is good. With over two decades of experience and a total revamp in business model, the IPO may entice believers of the ‘financialisation of savings’ theme. Angel Broking holds a unique positioning in the broking space that isn’t very crowded among listed players but for some reasons hasn’t garnered much interest from investors. READ MORE  

1:35 PM

MARKET CHECK | Top losers on the BSE at this hour

1:23 PM

BROKERAGE VIEW | ICICI Securities on HCL Tech

RATING: HOLD | TARGET PRICE: Rs 885

We believe the acquisition of DWS will boost the company’s revenue and geographic presence. Further, the acquisition also has scope for margin expansion led by higher offshoring. In addition, the company’s recent upward revision in Q2FY21E revenues & margins, coupled with improving organic growth keeps us positive on the stock from a long term perspective. 

1:16 PM

Google Pay adds tap-to-pay feature for Axis, SBI card users

Google Pay on Monday announced the rollout of tokenisation across its platform, enabling users with debit and credit cards to transact at NFC-enabled point-of-sale (POS) terminals and online merchants through its tap-to-pay feature. The feature is currently available for Axis and SBI card users on Visa payments network, and more banks, including Kotak are expected to follow soon. READ MORE

1:09 PM

MARKET CHECK

1:00 PM

NEWS ALERT :: SpiceJet announces six new flights

12:57 PM

Brokerage industry's revenues expected to reach Rs 23,000 cr in FY21: Icra

According to investment information firm ICRA, the domestic capital markets have witnessed an unexpected surge lately in stark contrast to the overall economic outlook.

 

And while broking yields continue to be under pressure, given the competitive dynamics as well as product mix (increase in non-delivery volumes as well as the rising share of index options), the healthy growth in turnover more than offset the impact on broking income. READ MORE

12:43 PM

MARKET CHECK

12:38 PM

Birla Corp slips 9% after HC bars Harsh Lodha from MP Birla group companies

Shares of Birla Corporation (Birla Corp) dipped 9 per cent to Rs 662 on the BSE in the intra-day trade on Monday after the Calcutta High Court (HC) on Friday restrained Harsh Vardhan Lodha from holding any office in M P Birla group entities. The stock of cement & cement products company recorded its sharpest intra-day fall since March 23, 2020, when it had tanked 20 per cent on the BSE. READ MORE