Sensex sheds 323pts, Nifty manages to hold 17,400; Infosys, ITC slip 2%

Smallcaps, sugar stocks and shares of recently listed companies like Paytm, SJS Enterprises, Fino Payments Bank and PolicyBazaar were in demand

Closing Bell

After holding gains for a major part of the trading day, the key benchmark indices nose-dived to lower levels in late deals dragged by weakness in key index heavyweights like Infosys, ITC and Reliance Industries.

The BSE benchmark index, the Sensex, had opened 175 points higher at 58,839, steady gains in financial and power stocks helped the index touch a high of 58,968. However, weakness in late noon deals saw the BSE index slide to a low of 58,143 - down 825 points from the day's high. The Sensex finally ended 323 points lower at 58,341.

The NSE Nifty had touched a high of 17,601 in intra-day deals, and then tanked to a low of 17,354. The index eventually ended with a loss of 88 points at 17,415.

Market Dashboard: Snapshot of key movers and shakers in trade today

Among the Sensex 30 shares, Maruti and Infosys plunged around 2.5 per cent each to Rs 7,645 and Rs 1,690, respectively. ITC and Tech Mahindra were down nearly 2 per cent each. Larsen & Toubro, Reliance Industries, Tata Steel, IndusInd Bank, UltraTech Cement and HDFC were the other major losers.

On the positive front, NTPC, ICICI Bank and Kotak Bank gained a per cent each. PowerGrid Corporation was the other notable gainer.

Shares of the recently listed companies, including latest View Analytics, One97 Communications (Paytm), auto parts & equipment company SJS Enterprises, and Fino Payments Bank rallied up to 20 per cent in intra-day trades Wednesday supported by heavy volumes. LatentView ended at the 20 per cent upper limit, while Paytm soared 17.2 per cent. READ MORE

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In the broader markets, the BSE Smallcap index outperformed the BSE Midcap and Sensex. The index ended with a gain of 0.4 per cent, while Midcap index was down 0.6 per cent in line with the Sensex. The overall breadth was positive, with 1,932 advancing shares versus 1,385 declining stocks on the BSE.

Among sectors, the BSE Auto and IT indices declined over a per cent each. FMCG and Capital Goods were the other prominent losers. The Oil & Gas index, however, was up 0.8 per cent.

Meanwhile, Indian health insurance provider Star Health and Allied Insurance Co backed by ace Indian investor Rakesh Jhunjhunwala is looking to raise Rs 7,249 crore from its IPO opening on November 30. The public share sale will be in the price band of Rs 870 to Rs 900.
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Markets at 02:30 PM

LIVE market updates: The key benchmark indices erased gains and slipped into the negative zone on the back of fresh selling pressure in select index heavyweights like Infosys, Reliance, Hindustan Lever and Larsen & Toubro.

The Sensex was down 70 points at 58,594, and the NSE Nifty was down six points at 17,497.

The BSE Smallcap index was outperforming with a gain of 1.2 per cent, as against a mere 0.2 per cent rise on the BSE Midcap. Among smallcaps, Soril Infra Resources was locked at the 20 per cent upper circuit. Elgi Equipment, Mtar Technologies, Indian Overseas Bank, Bajaj Healthcare, Kabra Extrusiontechnik, Central Bank of India, Angel One, Aurum Proptech, Genus Power, JP Associates, Triveni Engineering, Lumax Auto Technologies and Sharda Motor Industries had rallied 9-16 per cent each.

Meanwhile, the markets in Europe have started trade on a positive note. FTSE 100 and CAC 40 had gained 0.5 per cent and 0.4 per cent, respectively. DAX 30 was up 0.1 per cent.
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Markets at Lunch (01:30 PM)

LIVE market updates: The key benchmark indices registered fresh intra-day gains in noon deals as financial shares firmed up.

The Sensex touched a high of 58,968, and was up 251 points at 58,915. The NSE Nifty was up 90 points at 17,593.

Power producers PowerGrid Corporation and NTPC were the major per centage gainers among the Sensex 30 stocks. ICICI Bank, Bajaj Finserv and Kotak Bank also rallied around 2 per cent each. On the flip side, Maruti had slipped 2 per cent.

Recently listed shares have logged smart gains in trade so far. Paytm and LatentView have zoomed over 17 per cent each. SJS Enterprise has soared 15 per cent. Fino Payments Bank and PolicyBazaar were up 9 per cent and 6.5 per cent, respectively.

Elsewhere in Asia, Nikkei tumbled 1.6 per cent. Kospi and Taiwan were down 0.1 per cent each. On the positive front, Hang Seng gained 0.3 per cent. Shanghai and Straits Times were up 0.1 per cent each.
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Markets at noon

LIVE market updates: Indian equities are holding on to their gains despite volatility in the markets. The BSE Sensex is at 58,822 levels, up 157 points, while the Nifty50 index is at 17,559 levels.

The broader markets, however, are outperforming benchmarks. The BSE MidCap index is up 0.5 per cent and the BSE SmallCap index is up 1.2 per cent. In comparison, the benchmarks are up 0.3 per cent.

Individually, Triveni Engineering & Industries, Dhampur Sugar Mills, Balrampur Chini Mills, Dwarikesh Sugar Industries, Uttam Sugar Mills, EID Parry and Avadh Sugar & Energy were up between 3 per cent and 11 per cent on the BSE on the back of positive outlook. READ MORE

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Markets at 11 AM

LIVE market updates: Frontline indices are trading within a narrow range on Wednesday, a day ahead of the scheduled F&O expiry. 

The BSE Sensex was at 58,894, up 230 points, at 11:00 AM. The index has, so far, touched a high and low of 58,941 and 58,565, respectively.

The NSE Nifty, too, was up 74 points at 17,577 levels. It has touched an intra-day high and low of 17,592 and 17,485, respectively.

India VIX has cooled off further at 16.5, down 8 per cent.

The Nifty Energy index is up 1 per cent led by ONGC (up 4 per cent), Tata Power (3.5 per cent), and Gail (2.5 per cent). A recent report by CLSA pegs domestic gas price at $7 by April, 2022, and $10 by October, 2022.

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Markets at 10 AM

LIVE market updates: Benchmark indices are ruling over quarter per cent higher, lifted by gains in financial, realty, and pharma stocks. The BSE Sensex is at 58,778, up 113 points while the Nifty50 is at 17,544.

In the broader markets, the BSE SmallCap index is outperforming both, large-cap and mid-cap, indices. The index is up over 1 per cent.

Sectorally, select IT and auto stocks, including Coforge, Infosys, Tech M, Maruti Suzuki, Hero MotoCorp, and M&M, are trading with a negative bias. 

Meanwhile, volatility index, India VIX, eased about 5 per cent.

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Opening Bell

LIVE market updates: Indian equities started higher on Wednesday, supported by firm global cues and buying in heavyweights such as Bharti Airtel, SBI, Axis Bank, and TCS.

The benchmark S&P BSE Sensex advanced 47 points, or 0.08 per cent, to quote at 58,711 in opening deals. The NSE Nifty50, on the other hand, added 30 points to hold 17,550-mark.

The broader markets, too, rose in tandem with the headline indices and gained up to 0.6 per cent.

Among key movers in early trades, Bharti Airtel's shares moved up by 0.5 per cent after Moody's Investors Service revised the company's and its subsidiary Bharti Airtel Int'l (Netherlands) BV's ratings outlook to positive from stable.

Those of Latent View Analytics, meanwhile, rise another 3 per cent after a solid debut on Tuesday.

Zee Entertainment also added 1.4 per cent after Punit Goenka, MD and CEO of Zee Entertainment Enterprises said yesterday that the merger talks between Zee Entertainment Enterprises and Sony Pictures are in final stages of stitching up.

Sectorally, all except the Nifty Metal index were trading in the positive zone, led by the Nifty PSU Bank index (up over 1 per cent).

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Pre-open session

LIVE market updates: Pre-open session indicates decent opening gains for benchmark indices. The S&P BSE Sensex was at 58,836 levels, up 171 points at 9:07 AM while the Nifty50 eked out 46-point gain and was at 17,550.

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LIVE market updates: The markets may look to extend the pull-back rally in trades on Wednesday backed by some positive news flow for select index heavyweights. 

At 08:10 AM, the SGX Nifty November futures quoted at 17,570 as against the spot close of 17,503 on Tuesday.

Technically, the current pull-back is likely to face strong resistance around 17,800-17,850 levels. On the downside, the Nifty may test 17,050-odd levels.

Global markets

The Wall Street ended mixed and the dollar slipped from a 16-month high on Tuesday as investors positioned for a likely rate hike in 2022 after Powell's nomination for a second term. The Dow Jones gained 0.6 per cent, and the S&P 500 added 0.2 per cent. Nasdaq, however, retreated 0.5 per cent.

Meanwhile, the markets in Asia this morning were marginally positive. Hang Seng, Kospi and Taiwan were up 0.1 per cent each. Shanghai Composite and Straits Times had gained 0.2 per cent and 0.3 per cent, respectively. Nikkei, however, was down 0.6 per cent.