Investors lose Rs 1.2 trillion as Sensex drops 587 pts amid global sell-off

Stock market updates: Domestic markets fell in-line with global stocks as potential third waves in the US and the UK, and a spike in coronavirus cases in Japan and Australia desite lockdown-like restrictions, stalled growth rally.

The benchmark S&P BSE Sensex plunged 587 points, or 1.1 per cent, to end at 52,553 while the Nifty50 ended below the 15,750-mark at 15,730 levels, down 193 points. In the broader markets, the BSE MidCap and SmallCap indices fell 0.58 per cent and 0.31 per cent, respectively.

Sectorally, the Nifty Bank index declined over 2 per cent, led by losses in HDFC Bank (down over 3 per cent) as the deterioration in the lender's asset quality in Q1FY22 sparked fears of a blow to economic recovery.

Global cues

Japan's Nikkei fell 1.25 per cent, South Korea's Kospi erased 1 per cent, and pan-European STOXX 600 index cracked 1.6 per cent. Stock futures of all three main Wall Street indices were also down between 0.7-0.9 per cent.

3:50 PM

Tech View :: Rohit Singre, Senior Technical Analyst at LKP Securities

Index opened a day with sharp cuts but managed to reduce some losses at the end of the day and closed a day at 15752 with loss of one percent & formed inverted hammer sort of candle pattern on the daily chart. Index again backed in its consolidation area of 15600-16000 zone which hints we may see some more sideways moment going forwards, the index reached to its demand zone of 15700-15600 zone if managed to hold said levels again we may see some swift pullback towards 15800-15900 zone which are immediate hurdle on the higher side.

3:50 PM

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

Shadowing global sell-off, Indian indices slipped succumbing to world inflation woes, FOMC meeting next week and rising covid cases. Banks led the domestic downtrend as initial quarterly results pointed to cautious asset quality due to the impact of the second wave. Slackening economic growth in the US-led to reports of likely downgrade in growth forecast in current year triggering global sell-off.

3:49 PM

HDFC Bank declines over 3% on lower-than-expected Q1 show

3:49 PM

Vodafone Idea slips 3% post AGR hearing

3:48 PM

Investors book profit in Clean Science; stock ends 9% lower as against listing price

> The scrip, however, was up 75% as against its issue price

3:46 PM

GR Infraprojects ends 109% higher over its issue price on listing day

3:39 PM

Adani stocks tank up to 4% as Sebi probes Group

> India's securities regulator and customs authorities are investigating some Adani Group companies for non-compliance of rules, India's junior finance minister told parliament on Monday.

3:37 PM

Broader markets marginally outperform benchmark

3:35 PM

Sector Watch :: Barring Nifty Pharma, Nifty Realty, all sectoral indices end in the red

3:35 PM

Sensex heatmap at close

3:34 PM

CLOSING BELL :: Sensex, Nifty tank over 1% each

BSE Sensex declined 587 points or 1.10% to 52,553. Its NSE counterpart Nifty settled at 15,752, down 171 points or 1.07%. 

 

3:11 PM

Datamatics Global hits 20% upper circuit, zooms 65% in three days

In the past three trading days, the stock of the information technology (IT) software products company has surged 65 per cent. The company in a filing has clarified that significant movement in the share price/ volume behaviour of the scrip is purely due to market conditions and are market-driven.

 

The company further said that there is a significant increase in movement in the share price/volume of mid-cap information technology-enabled services (ITeS) companies in the last few days. READ MORE

3:04 PM

AGR Hearing

SG Tushar Mehta for DoT to SC

Have no instructions from DoT, Can take instructions, if calculation errors can be corrected

 

May be hazardous for me to make statement without instructions from DoT. Please allow 2 days’ time to clarify

2:54 PM

AGR Hearing

Vodafone Idea to SC

- We are not a fly-by-night operator, let DoT see the calculation errors

- If DoT agrees with our clarifications, we may get some rebate

 

Bharti Airtel to SC

Fully compliant with the order, but can't be asked to pay due to errors

 

2:53 PM

AGR Hearing

> SC Observes we are only looking at the bar on recalculation imposed by previous SC orders