Sensex ends 580 pts lower amid weak global cues, Nifty settles at 12,772

All that happened in the markets today

The domestic equity market fell over 1 per cent on Thursday as investors booked profit amid weak global cues. Among headline indices, the S&P BSE Sensex ended at 43,600, down 580 points, or 1.31 per cent while NSE's Nifty settled at 12,772, down 167 points, or 1.29 per cent. 

HDFC Bank, HDFC, ICICI Bank, Axis Bank, and Infosys were the major contributors to the Sensex's fall. In the intra-day session, Sensex hit a fresh high of 44,230 before retreating later. 

Sectorally, barring Nifty FMCG, and Nifty Media, all other sectoral indices ended in the red. Nifty Bank fell 2.85 per cent to 28,903 levels with all the 12 constituents declining. Nifty FMCG, on the other hand, rose 0.43 per cent to 31,085 levels. 

In the broader market, the S&P BSE MidCap index dropped 0.65 per cent to 16,238 levels while the S&P BSE SmallCap index ended at 16,059, up 0.03 per cent. 

Global markets

World stocks eased for the third day in a row and oil fell on Thursday tracking overnight weakness in Asia and Wall Street as widening Covid-19 restrictions weighed on market sentiment.

Positive news about potential vaccines had helped push the MSCI World Index to a record high earlier in the week, only to see investors pull back as a host of countries announced record infection rates and tougher lockdowns.

In Europe, too, stocks opened lower. The pan-European STOXX 600 fell 0.7 per cent at the time of writing this report, with growth-sensitive oil and gas, banking, and mining sectors leading early losses.

(With inputs from Reuters)

4:10 PM

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

"The increasing virus infections raised fears of additional restrictions and considering its impact on global economic activity, global market sentiments turned negative. This was in spite of the optimism surrounding the advanced stages of vaccine development. Indian markets also witnessed profit booking from recent highs, as investors turned cautious. Financials led the losses while defensive sectors such as FMCG and Pharma fared better. The positivity in auto sales numbers continued and could be an indicator of economic recovery. However, increasing virus infections, which are again being reported in some parts of India, can offset this nascent recovery. We can expect short-term volatility in the markets and investors are advised to remain cautious."

3:43 PM

MARKET AT CLOSE | Losers and gainers on the S&P BSE Sensex

3:42 PM

Nifty PSU Bank slips over 3%

3:36 PM

CLOSING BELL

The S&P BSE Sensex slipped 580 points, or 1.31 per cent to settle at 43,600 while NSE's Nifty ended at 12,772, down 167 points, or 1.29 per cent. 

3:23 PM

BROKERAGE VIEW | ICICI Securities on Mahindra Lifespace Developers

RATING: HOLD | TARGET PRICE: Rs 300

We like MLD given its strong parentage, the management’s focus on expanding its overall scale of operation and a comfortable balance sheet. The new land purchases could enable it to scale up its residential business, which otherwise saw lethargic movement. However, we would await fructification of such deals and traction thereof, before turning constructive. Hence, we maintain our HOLD rating on MLD with a target price of Rs 300.

3:13 PM

MARKET CHECK | Sensex slips nearly 600 pts

3:03 PM

Stressed debt across sectors falls 37% in Q2 to Rs 15 trn: Credit Suisse

The share of debt with loss-making companies was also down to 23 per cent as compared to 28 – 30 per cent pre-Covid-19. A large part of this has been on account of the fall in the stressed debt levels in the metal (Tata Steel & SAIL) and telecom (Bharti Airtel) sectors, Credit Suisse said. READ MORE 

2:53 PM

Snowman Logistics zooms 77% in 8 days on healthy demand prospects

At 02:30 pm, Snowman Logistics was trading 7 per cent higher at Rs 61.50 as compared to a 1.3 per cent-decline in the S&P BSE Sensex. Trading volumes on the counter more-than-doubled with a combined 8.04 million shares changing hands on the NSE and BSE till the time of writing of this report. READ MORE

2:40 PM

Dow Jones Futures slip over 100 pts

2:34 PM

Nifty Bank index tumbles over 850 pts

2:22 PM

Interest Waiver Case :: SC defers hearing till next week

>> SC directs for Power Gencos, other petitioners to submit suggestions before RBI counsels. 

 

>> SC directs Centre, RBI to reply to suggestions put forth before the SC & directs for case to be listed next week

2:11 PM

NEWS ALERT :: Esker, Birlasoft tie-up to automate Procure-to-Pay and Order-to-Cash with Artificial Intelligence

Source: BSE filing

2:05 PM

SpiceJet, IndiGo: Aviation stocks look set for a further rally, charts show

Investors have turned to the beaten-down aviation stocks ever since Pfizer and then Moderna Inc said their Covid-19 vaccine candidates have shown over 90 per cent efficacy. Shares of SpiceJet and IndiGo have outperformed the markets this month as investors were seen rotating out of 2020 winners such as IT and pharma and buying into sectors that were badly bruised because of the Covid-19 pandemic. READ MORE 

1:54 PM

Sensex at day's low

1:46 PM

DHFL hits 5% upper circuit for third straight day; stock nears 52-week high

In the past one month, stock of the housing finance company has gained 46 per cent as against a 9 per cent-rise in the S&P BSE Sensex. It was quoting close to its 52-week high level of Rs 23.30 touched on November 25, 2019. The stock had hit a record high of Rs 680 in September 2018 and had touched a multi-year low of Rs 8.40 on April 2020. READ MORE