F&O expiry: Sensex tanks 1,115 pts on global sell-off; Nifty ends at 10,806

All that happened in the markets today

The Indian stock market slumped on Thursday, the last of day of the futures & options (F&O) contracts for September series amid weak global cues. 

The benchmark S&P BSE Sensex tumbled 1,115 points, or 3 per cent to settle at 36,554. Barring HUL (up 0.36 per cent), 29 constituents of the index declined. IndusInd Bank (down 7 per cent) ended as the biggest loser on the index. 

NSE's Nifty settled at 10,806, down 326 points or 2.93 per cent. India VIX zoomed over 12 per cent to 23.57 levels. 

In the broader market, the S&P BSE MidCap index dropped 2.14 per cent to 13,933 levels while the S&P BSE SmallCap index slipped 2.28 per cent to 14,168 levels.

On the sectoral front, all the indices on the NSE ended in the red. Nifty IT and Nifty Metal slipped over 4 per cent each while Nifty Bank fell nearly 3.5 per cent to 20,457 levels. 

Global markets

Asian shares fell on Thursday following a slump on Wall Street overnight, as a series of warnings from US Federal Reserve officials underscored investor worries over the resilience of the economic recovery.

MSCI's broadest index of Asia-Pacific shares outside Japan tumbled 1.35 per cent in the morning session on broad losses across the region.

Chinese blue-chips dropped 1.09 per cent, Hong Kong's Hang Seng fell 1.72 per cent, Seoul's KOSPI sank 1.73 per cent and Australian shares were 1.18 per cent lower. Japan's Nikkei fell 0.74 per cent.

In commodities, oil prices dropped weighed down by concerns that US economic recovery is slowing as the coronavirus outbreak lingers, while a renewed wave of Covid-19 cases in Europe have led to reimposed travel restrictions in several countries.

(With inputs from Reuters)

 

4:10 PM

MARKET COMMENT | Vinod Nair, Head of Research at Geojit Financial Services

"Indian benchmark indices had a gap down opening and kept losing ground as the day wore on, to finally end the day around 2.8% down. Markets tracked weak global cues as the uncertainty witnessed in the last few days gave way to negativity, with broader markets also underperforming. The uncertainty regarding an economic recovery, the unabated rise in virus infections, and today being derivatives expiry day, all contributed to the negativity. With volatility expected to be high, traders are advised to remain cautious."

3:43 PM

SECTOR WATCH | All sectoral indices on the NSE decline

3:42 PM

MARKET AT CLOSE | Out of 30 constituents, 29 end in the red

3:36 PM

CLOSING BELL

The S&P BSE Sensex plunged 1,115 points, or 2.96 per cent to settle at 36,554 while NSE's Nifty ended at 10,806, down 326 points, or 2.93 per cent.

3:27 PM

HSIL hits fresh 52-wk high, gains 17% in 3 days on board's nod for buyback

In the past three trading days, shares of HSIL have surged 17 per cent after its board on Monday approved the buyback of shares at Rs 105 per share for an aggregate amount of Rs 70 crore via open market. READ MORE

3:14 PM

MARKET CHECK | India VIX jumps over 11% to 23.3 levels

3:02 PM

UTI AMC IPO to open on September 29, price band fixed at Rs 552 - Rs 554

The much-awaited initial public offer (IPO) of UTI Asset Management Company, one of the leading asset management companies (AMCs) in India, is set to open on September 29. The offer is proposed to close on October 1, 2020. The price band of the offer has been fixed at Rs 552 to Rs 554 per equity share. READ MORE  

3:01 PM

MARKET VOICE:: Shankar Sharma

2:56 PM

HEATMAP:: Every S&P BSE Sensex constituent, barring HUL, trading in the red at this hour

2:43 PM

ALERT :: Nifty approaching 200-DEMA level of 10,800

2:39 PM

ALERT :: Sensex crashes 1,000 pts

2:32 PM

Covid-19: Indian banking system to be among the last to recover, says S&P

The Indian banking sector is considered a late-exiter. Its recovery will be longer. But some ratios may return more quickly to levels as they were weak prior to the onset of Covid-19 (in contrast with many other jurisdictions). READ MORE

2:23 PM

Covid-19 crisis: Now, FinMin is not so sure about a V-shaped recovery

The finance ministry is reassessing its earlier optimism about a V-shaped economic recovery as people are spending less owing to extreme uncertainty induced by the Covid-19 pandemic. “We keep devising projections based on high-frequency indicators. READ MORE

2:12 PM

Rupee Closing

Rupee posts biggest single-session fall against the US dollar since September 3; ends at 73.90 per US dollar vs Wednesday's close of 73.57/$

2:00 PM

Angel Broking IPO subscribed 2x so far on Day 3; retail portion at 3.4x

The Rs 600-crore initial public offering of Angel Broking was subscribed nearly 2 times on the National Stock Exchange (NSE) and BSE on Wednesday, the last day for bidding. Till 12:30 pm, the issue was subscribed 1.77 times on the exchanges, data show. The IPO has received bids for 2.43 crore equity shares against an offer size of 1.37 crore equity shares, the data available on exchanges showed. READ MORE