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Sensex slips 102pts, Nifty holds 18,100; ITC drops 3%; IRB Infra zooms 20%

Stock market LIVE: Financial shares helped limit the losses, while IT, metal and FMCG shares weighed on the benchmark indices; Midcap, Smallcap indices decline over a per cent each

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MARKET LIVE | Q2 results | Reliance Industries

SI Reporter  |  New Delhi 

MARKET: Sensex falls over 450 pts from day's high, up 100 pts; metals slide

Closing Bell Financial shares came to the rescue of the benchmark indices for the second straight day, as select index heavyweights weighed under selling pressure. The BSE benchmark index, the Sensex, opened 120-odd points higher at 61,044, and rallied to a high of 61,420 on the back of fresh buying in early trades. Selling pressure re-emerged in second half of the trading session, with ITC, technology and metal stocks leading the fall. The BSE 30-share index slid to a low of 60,551 - down 869 points from the day's high. The Sensex eventually ended with a minor loss of 100 points at 60,822. The NSE Nifty from a high of 18,314, dropped to a low of 18,034, and finally settled 63 points lower at 18,115. The India VIX declined 1.8 per cent to 17.70. HDFC was the major gainer among the Sensex 30 stocks, the stock rose 2.2 per cent to Rs 2,907. Bajaj Auto, Kotak Bank, IndusInd Bank, Axis Bank and Titan were the other notable gainers. Whereas, ITC shed 3.4 per cent at Rs 236.50. Maruti, NTPC, Infosys, Tata Steel, HCL Technologies, Nestle India, Asian Paints, Larsen & Toubro and TCS were the other significant losers. Among sectors, the Bank Nifty rallied to a fresh all-time high at 40,587, and ended 0.7 per cent higher at 40,315. The Realty index surged 2.4 per cent to 509.75. On the flip side, the NSE Metal index tumbled over 3 per cent to 5,686. The Media index shed 2.3 per cent, while the ITC and Pharma indices were down 1.5 per cent each. In the broader markets, the BSE Midcap and Smallcap indices were down over a per cent each. The overall breadth too was fairly negative, with 1,967 declining stocks versus 1,327 advancing shares on the BSE. IRB Infra ended with a gain of 20 per cent at Rs 293 ahead of the company's board meet to consider a proposal for raising funds and on October 26. RVNL, HSIL, RITES and Jindal World were some of the other major gainers. ___________________________________________________________________________________________ at 02:30 PM LIVE market updates: The key benchmark indices continue to languish in the negative owing to considerable weakenss in ITC, Tata Steel and Infosys. The BSE benchmark index, the Sensex, was down 358 points at 60,565. The NSE Nifty was down 139 points at 18,039. The broader were trading with deeper cuts, with the BSE Midcap index down 1.1 per cent and the Smallcap index down 1.4 per cent.

The breadth too was extremely negative, with 2,127 declining stocks versus 1,123 advancing shares on the BSE. _________________________________________________________________________________________ at Lunch (01:30 PM) LIVE market updates: The key benchmark indices slipped into the negative zone in noon deals on the back of heavy selling pressure in select index heavyweights like Infosys, ITC and Tata Steel. The BSE benchmark index, the Sensex, which touched a high of 61,420 in morning trade, had dropped to a low of 60,659, and was quoted at 162 points lower at 60,761. The NSE Nifty was down 70 points ata 18,108. Financials led by HDFC and Reliance up to a certain extend helped in limiting the day's losses. In the broader markets, Housing finance companies traded with significant losses after reporting Q2 numbers. Both, and Can Fin Homes were down 8 per cent each. READ MORE KEC International surged 12 per cent to a record high of Rs 522 after the company announced that it has secured new orders of Rs 1,829 crore across its various businesses. READ MORE Meanwhile, the European markets have started the day on a positive note. The CAC 40 was up a per cent, and DAX 30 added 0.6 per cent. The FTSE 100 was up 0.4 per cent in opening trades. Elsewhere in Asia, the Nikkei, Hang Seng and Straits Times ended the day with gains in the range of 0.3-0.5 per cent. China's Shanghai Composite was down 0.3 per cent, while S&P/ASX 200, Kospi and Taiwan Weighted ended on a flat note. _______________________________________________________________________________________ Markets at noon LIVE market updates: The frontline indices turned volatile in the noon deals on Friday as profit booking in metals, IT, pharma, and auto stocks dragged markets lower. However, gains in banking, and RIL shares, capped downside. At 12:15 PM, the BSE Sensex was at 60,926, up just 3 points, while the index slipped into the red, down 30 points at 18,148. In the broader markets, the BSE MidCap and SmallCap indices slipped up to a per cent each. Among individual stocks, Vedanta, Nalco, Hindustan Copper, and Coal India from the metals pack, fell between 3 and 7 per cent, while those from the IT space, including Mindtree, LTI, LTTS, and Infosys fell in the range of 2 to 9 per cent. _______________________________________________________________________________ Markets at 11 AM LIVE market updates: Banking and financial stocks, along with select heavyweights like Reliance Industries, L&T, and HUL, were leading from the front on the bourses during the late morning deals on Friday. At 11:05 AM, the BSE barometer of 30 shares was 61,343 levels, up 419 points, while the NSE index held above the 18,250 mark. The Nifty Bank index was at its fresh all-time-high level of 40,506 supported by gains in IDFC First Bank (up 3 per cent), RBL Bank, Kotak Bank, HDFC Bank, Axis Bank, and SBI. Shares of RIL, meanwhile, were up around 1.5 per cent ahead of its Q2 results, slated to be announced later in the day. In the broader markets, the BSE MidCap and SmallCap indices were underperforming the benchmarks, rising up to 0.2 per cent only. Among stocks, TVS Motors (up 8 per cent), Indian Bank, Muthoot Finance, and Oberoi Realty in the mid-cap space and RVNL, IRB Infra, and KEC were ruling the charts in the small-cap space. ______________________________________________________________________________________ Markets at 10 AM LIVE markets update: The benchmark indices are holding on to their opening highs, although some pressure in the metal space is capping gains. At 10:05 AM, the BSE Sensex index was at 61,327 levels, up 403 points or 0.66 per cent. It touched an intra-day high of 61,420 levels earlier today. It's NSE counterpart, too, was off the morning high of 18,314 level, and quoted at 18,281 level, up 103 points. Among individual stocks, shares of the Indian Energy Exchange (IEX) rallied 10 per cent to Rs 832.85 on the BSE in Friday’s intra-day trade, after the company posted strong earnings for the second quarter ended September 2021 (Q2FY21) and also announced bonus shares in the ratio of 2:1.

The stock, however, partially pared gains and was trading 4 per cent higher at Rs 789.15 on the BSE. READ MORE

__________________________________________________________________________________________ Opening Bell (Updated at 9:20 AM) LIVE market updates: Tepid global cues and rising crude oil prices are keeping indices volatile on Dalal Street. In early deals, the benchmark was up 209 points at 61,133 levels while the NSE's was at 18,228, up 50 points.

PowerGrid, Titan, HDFC, Axis Bank, and were the top gainers on the 30-pack Sensex while Asian Paints, HCL Tech, Infosys, Tata Steel, and Dr Reddy's Labs were trading as biggest laggards.

In the broader markets, the BSE MidCap and SmallCap indices advanced 0.22 per cent each. On the sectoral front, barring the Nifty IT index (down 0.13 per cent) and the Nifty Metal index (down 0.4 per cent), all the other indices were trading higher on the National Stock Exchange. The Nifty Bank index hit a fresh record high of 40,326 in early deals today, before retreating to 40,179 levels, up 0.3 per cent. That apart, the Nifty Realty index (up 2 per cent) and the Nifty Media index (up 1.3 per cent) were the other gainers on the NSE.

________________________________________________________________________________________ Pre-open session (updated at 9:10 AM): LIVE market updates: The frontline indices settled in the posititve territory in the pre-open session, indicating a higher start to the last trading session of the week. The BSE Sensex ended the pre-market session at 61,044.5 levels, up 121 points. The Nifty50, on the other hand, was at 18,231, up 53 points. _______________________________________________________________________________________ (Updated at 8:15 AM) LIVE market updates: Mixed global cues and will keep the indices volatile on Friday. Besides, Brent crude prices at over 3-year high, at $86.1 per barrel, along with choppy bond yields may cap upside. At 8:10 AM, was at 18,264 levels, up 18 points. Earnings today/Stocks to watch Reliance Industries, Chennai Petro, Crompton Greaves, Federal Bank, HDFC Life, Hindustan Zinc, Inox Leisure, Jubilant Pharma, Kajaria Ceramics, Mahindra Holidays & Resorts, PVR, Tata Consumer, Tata Elxsi, and are some of the other prominent companies scheduled to announce September quarter numbers. That apart, LIC Housing Finance, JSW Steel, and Zee Entertainment will also be in investor radar Global cues Overnight in US, the S&P 500 ended at record high, even as Dow and Nasdaq ended on a flat note. In Asian, barring Nikkei had gained 0.6 per cent, and the Straits Times was up 0.4 per cent. The Kospi and S&P/ASX 200 were more of less unmoved in early trade.

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First Published: Fri, October 22 2021. 08:17 IST
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