Broader indices fall 2%; Nifty Metal skids 6% on global growth concerns

The 30-share Sensex index declined 300 points, or 0.4 per cent, and closed at 55,329 levels on Friday while the Nifty50 index slipped ended at 16,451 levels, down 118 points or 0.7 per cent

Image SI Reporter New Delhi
MARKETS: Broader indices under pressure; Tata Steel falls 6%, HUL gains 4%

Stock market updates: Indian equities fell in-line with global stocks after minutes released by the US Federal Reserve suggested tapering of the Fed's stimulus plan by late 2021. Besides, rampant spread of the Delta variant of Covid-19 and faltering global growth worried investors.

The 30-share Sensex index declined 300 points, or 0.4 per cent, and closed at 55,329 levels on Friday while the Nifty50 index ended at 16,451 levels, down 118 points or 0.7 per cent. Both the indices had hit intra-day lows of 55,014 and 16,376, respectively, earlier today.

The broader markets, meanwhile, were hit harder by the selloff as both, the BSE MidCap and SmallCap indices fell 2 per cent each. The advance to decline ratio favoured sellers and India VIX -- the volatility index -- surged 8.6 per cent.

Sectorally, the Nifty Metal index cracked 6 per cent while the FMCG index rose 2 per cent.

3:50 PM

TECH VIEW :: Rohit Singre, Senior Technical Analyst at LKP Securities

Index opened a day with a strong gap down on weak global cues and closed a day at 16450 with loss of nearly one per cent. The index reached to its previous breakout zone & going forwards it will act as good support zone 16350-16250, if managed to hold above-mentioned support zone then one can expect a good bounce towards immediate resistance zone of 16500-16600 zone where one can again lock their longs gains on immediate basis also on overall basis 16500 zone will act as make or break zone on the higher side.
3:50 PM

CLOSING COMMENTS :: Vinod Nair, Head Of Research at Geojit Financial Services

Bears took control of today's volatile session as weak cues from the global markets triggered selling across all sectors except FMCG. Fast spreading delta virus, Fed’s taper plans and China’s ongoing regulatory crackdown forced global markets to trade with cuts. Though the selling was broad-based, metal stocks were most affected due to a sharp plunge in iron ore futures across the world.
3:49 PM

Listing Day Action:: Dull start for CarTrade Tech; ends at 7% discount to issue price

>> The stock listed at Rs 1,600 versus issue price of Rs 1,618
3:48 PM

Vodafone Idea cracks 7% even as firm clarifies on licence fee rumours

>> Vodafone Idea Ltd (VIL) on Thursday said it has paid licence fee dues for the first quarter of 2021-22. The comment came amid a report that the troubled telco -- which is struggling to stay afloat -- fell Rs 150 crore short on payment of licence fee for the June quarter.
3:47 PM

Ujjivan SFB tumbles 19% as CEO & MD resigns

>> The stock hit fresh 52-week low following the resignation of Nitin Chugh from the position of Managing Director (MD) and CEO of the bank w.e.f. close of business hours on September 30, 2021, citing personal reasons.
3:45 PM

Tata Steel tanks 9% as metal pack hit on global growth concerns

3:44 PM

Market breath weak; advance-decline ratio at 1:3

3:43 PM

India VIX jumps nearly 9%

>> Volatility indicator India VIX rose 8.60% to 14.01
3:42 PM

NIFTY FMCG pack best sectoral gainer, up over 2%

>> The FMCG pack rose for all four sessions this week
3:41 PM

NIFTY METAL index bleeds over 6%

>> The Metal pack slipped in 3 of 4 sessions this week
3:39 PM

SECTOR WATCH :: Barring Nifty FMCG, all indices in the red

>> Metal worst performer
3:37 PM

Mid & smallcap indices slips nearly 2% each

>> Both indices underperformed benchmark Sensex

3:36 PM

Top Sensex drags today: Tata Steel, RIL, Kotak Bank

3:35 PM

Sensex Heatmap | Top gainers & losers at close

>> TOP GAINERS: HUL, Asian Paints, Nestle India

>> TOP LOSERS: Tata Steel, SBI, DRL
3:33 PM

CLOSING BELL: Sensex, Nifty fall for 2nd day straight

The BSE barometer closed down 300 points at 55,329. Its NSE counterpart Nifty settled the day at 16,416, down 153 points. Pharma and metal stocks were among the worst drags on the benchmark indices today.
3:15 PM

Pharma shares under pressure; Aurobindo, Wockhardt, Hikal, Natco down 6%

Shares of pharmaceutical companies came under pressure in Friday's session, falling by up to 6 per cent on the BSE. Wockhardt, Aurobindo Pharma, Hikal and Natco Pharma were down 6 per cent each in intra-day trade today. Granules India, Strides Pharma Science, Unichem Laboratories, Morpen Laboratories, Lupin, Dr Lal PathLabs and Glenmark Pharmaceuticals were down between 3 per cent and 5 per cent on the BSE. READ MORE
3:05 PM

Global markets :: Hang Seng enters bear phase

Hong Kong’s benchmark stock index entered a technical bear market, amid a deepening rout triggered by investor concerns over China’s regulatory crackdown across a swathe of industries. 
The Hang Seng Index fell 1.8% on Friday, taking losses from its recent Feb. 17 peak to more than 20%. That extended its weekly loss to 5.8%, the worst showing since March 2020, with Alibaba Group Holding Ltd. and Meituan weighting on the gauge Friday.

Source: Bloomberg
2:53 PM

Nifty Metal index slips 6%; Tata Steel, Vedanta, JSPL, NMDC fall up to 8%

Shares of metal companies came under pressure on Friday with the Nifty Metal index plunging 6 per cent in intra-day trade on Friday. Investors booked profits in the segment on concerns over Chinese steel production, faltering global growth, and the prospect of reduced US stimulus. At 01:46 pm, Nifty Metal index, the top loser among sectoral indices, was down 4.8 per cent, after falling 5.6 per cent in the intra-day trade on the National Stock Exchange (NSE). In comparison, the benchmark Nifty50 index was down 0.72 per cent at 16,450 points. READ MORE

Creating a separately listed firm eventually with a shareholding akin to NMDC shall be value accretive to its minority shareholders, say analysts at ICICI Securities

2:45 PM

AGS Transact Tech files draft papers with Sebi to raise Rs 800-cr via IPO

Payment solutions provider AGS Transact Technologies has filed preliminary papers with capital markets regulator Sebi to mop-up Rs 800 crore through an initial share-sale. The initial public offering (IPO) is purely an offer-for-sale of equity shares by promoter and other selling shareholders, according to the draft red herring prospectus (DRHP). Promoter Ravi B Goyal will sell shares worth up to Rs 792 crore through the offer-for-sale and other selling shareholders will offload shares to the tune of Rs 8 crore. READ MORE


2:29 PM

Ashoka Buildcon wins order worth Rs 186 crore; stock off day's low

>> Company has received Notification of Award (NOA) from Rewa Ultra Mega Solar Limited (RUMS) in respect of the Project, Viz. 'sub-station package -SS71 Associated with the Development of Transmission system for 1500 MW Solar parks in Madhya Pradesh (Project). 

>> The accepted Contract Price of the Project is Rs.186.11 crore. 

First Published: Aug 20 2021 | 08:17 AM IST

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