 "Sensex slips 336pts; Nifty Bank at new high; RIL falls 3%, TaMo DVR up 10%")
Closing Bell:
A late recovery led by select financial shares helped the key benchmark indices recoup some of its losses, even as key index heavyweights - Reliance and IT shares languished lower.
The BSE benchmark index, opened with a near 300-point positive gap at 61,557, and soon touched a high of 61,621. Unabated selling pressure saw the BSE index slide to a low of 60,486 - down 1,135 points from the day's high. The Sensex, thereafter, recouped some of its losses and eventually settled with a loss of 337 points at 60,923.
The NSE Nifty from a high of 18,384, plunged to a low of 18,048, before signing-off the day at 18,178, down 89 points. India VIX declined 1.5 per cent to 18.04.
Among the Sensex 30 stocks, Asian Paints was the major loser, down over 5 per cent at Rs 3,004 after the company reported 28.2 per cent fall in Q2 net. READ MORE
Reliance Industries declined nearly 3 per cent to Rs 2,623 a day ahead of its Q2 results. Infosys, Dr.Reddy's, Tata Steel and TCS were the other major losers, down over 2 per cent each.
On the positive front, Kotak Bank soared 6.5 per cent to Rs 2,146. HDFC, ICICI Bank and NTPC were up 1-2 per cent each.
The broader markets moved in tandem with the key benchmark indices. The BSE Midcap and Smallcap indices were down 0.4 per cent and 0.7 per cent, respectively. The overall breadth was marginally negative, with 1,676 declining stocks versus 1,610 advancing shares on the BSE.
Among sectors, the Nifty Bank soared to a fresh all-time high of 40,200, and ended 1.3 per cent higher at 40,030. The PSU Bank and Private Bank indices were up 2.7 per cent and 1.3 per cent, respectively. On the flip side, the NSE IT index plunged 2.5 per cent, and the Metal index shed 1.8 per cent. The Realty index was also down 1.4 per cent.
In the broader markets, Tata Motors DVR was locked at the 10 per cent upper circuit at Rs 256, after ace investor Rakesh Jhujhunwala bought additional 10 million equity shares, or 1.97 per cent stake, in the July-September (Q2FY22) quarter. READ MORE
Shoppers Stop was locked at the 20 per cent upper limit at Rs 337 after the company reported a strong operational performance in the July-September quarter (Q2FY22). READ MORE
Havells India plunged 8.5 per cent to Rs 1,286 after the consumer electronics company reported a weak operational performance in the July-September quarter (Q2FY22). READ MORE
Union Bank of India (Union Bank) hit a 52-week high at Rs 51.70, and ended 6.2 per cent higher at Rs 50.60 on improved business outlook. READ MORE
___________________________________________________________________________________________
Markets at 02:30 PM:
LIVE market updates: The benchmark indices seem headed for the third straight loss, as they languish near lows of the day on the back of unabated selling pressure in key index heavyweights.
The BSE Sensex was down 735 points at 60,525. The NSE Nifty dropped 208 points at 18,058.
Asian Paints slumped over 7 per cent to a two-month low of Rs 2,961 after the company reported 28.2 per cent year on year (YoY) decline in consolidated net profit at Rs 595.96 crore in July-September quarter (Q2FY22), due to higher raw material cost. READ MORE
Dr.Reddy's and Reliance Industries too were down 3 per cent each, while Infosys, TCS and Tata Steel shed 2.5 per cent each. However, Kotak Bank continued to trade on a firm note, up 5.5 per cent.
The broader markets have moved in tandem with the benchmark indices. The BSE Midcap and Smallcap indices were down 1.1 per cent each. The volatility index, India VIX, was up a per cent at 18.51. Among sectors, the IT and Metal indices cracked around 3 per cent each.
_________________________________________________________________________________________
Markets at Lunch (01:30 PM):
LIVE market updates: The key benchmark indices were languishing near the day lows on account of persistent selling pressure in select index heavyweights like Reliance, Infosys and TCS. Bharti Airtel and Tata Steel too have weakened in noon deals.
The BSE Sensex was down 483 points at 60,777, and the NSE Nifty was down 125 points at 18,141.
Reliance alone has accounted for a 220-point loss on the BSE Sensex. Infosys and TCS were the other major draggers. Whereas, Kotak Bank and HDFC have contributed more than 200 points, thus limiting the BSE benchmark losses in a way.
Kotak Bank has surged nearly 5 per cent to Rs 2,110, and HDFC has added 1.8 per cent. Meanwhile, Reliance Industries was down almost 3 per cent at Rs 2,621 a day ahead of its Q2 results.
Meanwhile, the European markets have kicked-off trade on a marginally note cues in the backdrop of negative cues from the US futures. The FTSE 100 was down 0.3 per cent, while the CAC 40 and DAX 30 were down 0.2 per cent in early trade. The Dow futures were down 80 points, and Nasdaq down 30 points.
_________________________________________________________________________________________
Markets at 12 NOON:
LIVE market updates: The BSE Sensex tumbled to a low of 60,697 - down over 900 points from the early morning high of 61,621 on the back of selling pressure amid valuation concerns. The 30-share index was down 403 points at 60,856, and the NSE Nifty was down 111 points at 18,155.
Among the Sensex 30 stocks, Dr.Reddy's has slipped 2.8 per cent. HCL Technologies, Asian Paints, TCS, Reliance Industries and Tech Mahindra have dropped around 2 per cent each. Kotak Bank, however, continues to trade 3 per cent higher.
The broader markets were also trading with notable losses. The BSE Midcap and the Smallcap indices were down 0.7 per cent and 0.4 per cent, respectively. The overall breadth was marginally negative, with 1,637 declining stocks versus 1,456 advancing shares on the BSE.
Shares of Union Bank of India (Union Bank) hit a 52-week high at Rs 51.70, up 8.5 per cent on the BSE in Thursday’s intra-day trade. The stock has rallied 14 per cent in the last two trading days on improved business outlook, despite weakness in the broader market. READ MORE
Elsewhere in Asia, Japan's Nikkei slid 1.8 per cent to 28,725. Hang Seng too was down nearly a per cent. China Shanghai Composite, Straits Times and Kospi were down 0.1-0.3 per cent each, while the S&P/ASX 200 and Taiwan Weighted indices were flat.
Back home in other news, India scripted history as the cumulative COVID-19 vaccine doses administered in the country surpassed the 100-crore milestone.
________________________________________________________________________________________
Markets at 11 AM:
LIVE market updates: The markets continue to trade on a wobbly note as valuations fear and possible spike in inflation spook investors. The BSE Sensex was down 370 points at 60,890, and the NSE Nifty was down 106 points at 18,161.
Reliance Industries, Infosys and TCS accounted for almost 70 per cent of the fall in BSE Sensex, while Kotak Bank lended notable support.
Meanwhile, reuters report indicated that China Evergrande Group had secured a 3-month extension on a defaulted bond, offering rare respite to the developer a day after a deal to sell a $2.6 billion stake in its property services unit failed.
Back home, IT and consumer Durables shares lead the fall. MindTree down 8 per cent at Rs 4,393 was the biggest loser in the IT space. L&T Technology Services, NELCO, Coforge and Sonata Software were the other major losers.
Among the consumer durables, Volatas led the fall with a near 5 per cent decline. Crompton Greaves, VIP Industries, Shela Foam and Symphony were the prominent losers, down 2-3 per cent each.
__________________________________________________________________________________________
Markets at 10 AM:
LIVE market updates: The BSE benchmark index, the Sensex, touched a high of 61,621 in opening trades, and then slipped to a low of 61,164. The 30-share index was now down 21 points at 61,239.
The NSE Nifty was more of less unmoved at 18,267.
Vinod Nair, Head of Research at Geojit Financial Services says that, the ongoing market correction is not an overreaction and can sustain in the near-term due to high valuations. However, in the future Indian corporates will benefit from the reforms & China plus one strategy which happened during 2020-21. Alongside, the long-term economy & market trend is intact due to further re-opening of the economy, low-interest cycle and fiscal & private spending. This correction will give leeway for value-buying, defensives and upcoming stocks & sectors that evolved from this new demand.
Among the Sensex 30 stocks, Kotak Bank has rallied 2 per cent to Rs 2,055. HDFC, Sun Pharma, PowerGrid Corporation and NTPC are the other prominent gainers. On the flip side, HCL Technologies and Reliance Industries are down over a per cent each.
In the broader markets, Havells India has dipped 9 per cent to Rs 1,279 in intra-day trade on profit booking after the consumer electronics company reported a weak operational performance in the July-September quarter (Q2FY22). READ MORE
Shriram City, Sonata Software, Oil India and Jubilant Foodworks were some of the other significant losers.
On the positive front, IRB Infrastructure and Shoppers Stop have zoomed over 15 per cent each. Coffee Day and Rail Vikas Nigam were some of the major gainers.
____________________________________________________________________________________________
(Updated at 09:25 AM)
Opening Trades:
LIVE market updates: The BSE benchmark index opened 298 points higher at 61,558, and touched a high of 61,621. The index has since pared gains and was up 135 points at 61,395.
The NSE Nifty touched a high of 18,384, and was up 42 points at 18,309.
Among the Sensex 30 stocks, Sun Pharma, PowerGrid Corporation, Kotak Bank, NTPC and HDFC up around a per cent each were the prominent gainers, while HCL Technologies and TCS were the notable losers.
The broader indices were marginally up, with BSE Midcap index up 0.2 per cent, and the Smallcap index up 0.4 per cent.
Among sectors, the BSE Oil & Gas, Power and Realty indices were up over a per cent each in early morning trade on Thursday.
____________________________________________________________________________________________
Pre-open Session: (Updated at 09:04 AM)
LIVE market updates: The BSE Sensex was quoted 409 points higher at 61,669 in pre-open trades on Thursday. The NSE Nifty 50 was up 142 points at 18,409.
Sun Pharma, Bharti Airtel, PowerGrid Corporation, Tata Steel, ONGC and Infosys indicated a positive start for trade in the pre-open trades, while Bajaj Finance, NTPC and Sun Pharma seemed set for a negative start.
_______________________________________________________________________________________________
(Updated at 08:10 AM)
LIVE market updates: Market participants expect another day of choppy trading due to the weekly expiry and earnings of some of the index majors. Uninspiring global cues will likely keep sentiments subdued back home. At 8:05 am, SGX Nifty was up 41 points at 18,358 levels.
A late recovery led by select financial shares helped the key benchmark indices recoup some of its losses, even as key index heavyweights - Reliance and IT shares languished lower.
The BSE benchmark index, opened with a near 300-point positive gap at 61,557, and soon touched a high of 61,621. Unabated selling pressure saw the BSE index slide to a low of 60,486 - down 1,135 points from the day's high. The Sensex, thereafter, recouped some of its losses and eventually settled with a loss of 337 points at 60,923.
The NSE Nifty from a high of 18,384, plunged to a low of 18,048, before signing-off the day at 18,178, down 89 points. India VIX declined 1.5 per cent to 18.04.
Among the Sensex 30 stocks, Asian Paints was the major loser, down over 5 per cent at Rs 3,004 after the company reported 28.2 per cent fall in Q2 net. READ MORE
Reliance Industries declined nearly 3 per cent to Rs 2,623 a day ahead of its Q2 results. Infosys, Dr.Reddy's, Tata Steel and TCS were the other major losers, down over 2 per cent each.
On the positive front, Kotak Bank soared 6.5 per cent to Rs 2,146. HDFC, ICICI Bank and NTPC were up 1-2 per cent each.
The broader markets moved in tandem with the key benchmark indices. The BSE Midcap and Smallcap indices were down 0.4 per cent and 0.7 per cent, respectively. The overall breadth was marginally negative, with 1,676 declining stocks versus 1,610 advancing shares on the BSE.
Among sectors, the Nifty Bank soared to a fresh all-time high of 40,200, and ended 1.3 per cent higher at 40,030. The PSU Bank and Private Bank indices were up 2.7 per cent and 1.3 per cent, respectively. On the flip side, the NSE IT index plunged 2.5 per cent, and the Metal index shed 1.8 per cent. The Realty index was also down 1.4 per cent.
In the broader markets, Tata Motors DVR was locked at the 10 per cent upper circuit at Rs 256, after ace investor Rakesh Jhujhunwala bought additional 10 million equity shares, or 1.97 per cent stake, in the July-September (Q2FY22) quarter. READ MORE
Shoppers Stop was locked at the 20 per cent upper limit at Rs 337 after the company reported a strong operational performance in the July-September quarter (Q2FY22). READ MORE
Havells India plunged 8.5 per cent to Rs 1,286 after the consumer electronics company reported a weak operational performance in the July-September quarter (Q2FY22). READ MORE
Union Bank of India (Union Bank) hit a 52-week high at Rs 51.70, and ended 6.2 per cent higher at Rs 50.60 on improved business outlook. READ MORE
___________________________________________________________________________________________
Markets at 02:30 PM:
LIVE market updates: The benchmark indices seem headed for the third straight loss, as they languish near lows of the day on the back of unabated selling pressure in key index heavyweights.
The BSE Sensex was down 735 points at 60,525. The NSE Nifty dropped 208 points at 18,058.
Asian Paints slumped over 7 per cent to a two-month low of Rs 2,961 after the company reported 28.2 per cent year on year (YoY) decline in consolidated net profit at Rs 595.96 crore in July-September quarter (Q2FY22), due to higher raw material cost. READ MORE
Dr.Reddy's and Reliance Industries too were down 3 per cent each, while Infosys, TCS and Tata Steel shed 2.5 per cent each. However, Kotak Bank continued to trade on a firm note, up 5.5 per cent.
The broader markets have moved in tandem with the benchmark indices. The BSE Midcap and Smallcap indices were down 1.1 per cent each. The volatility index, India VIX, was up a per cent at 18.51. Among sectors, the IT and Metal indices cracked around 3 per cent each.
_________________________________________________________________________________________
Markets at Lunch (01:30 PM):
LIVE market updates: The key benchmark indices were languishing near the day lows on account of persistent selling pressure in select index heavyweights like Reliance, Infosys and TCS. Bharti Airtel and Tata Steel too have weakened in noon deals.
The BSE Sensex was down 483 points at 60,777, and the NSE Nifty was down 125 points at 18,141.
Reliance alone has accounted for a 220-point loss on the BSE Sensex. Infosys and TCS were the other major draggers. Whereas, Kotak Bank and HDFC have contributed more than 200 points, thus limiting the BSE benchmark losses in a way.
Kotak Bank has surged nearly 5 per cent to Rs 2,110, and HDFC has added 1.8 per cent. Meanwhile, Reliance Industries was down almost 3 per cent at Rs 2,621 a day ahead of its Q2 results.
Meanwhile, the European markets have kicked-off trade on a marginally note cues in the backdrop of negative cues from the US futures. The FTSE 100 was down 0.3 per cent, while the CAC 40 and DAX 30 were down 0.2 per cent in early trade. The Dow futures were down 80 points, and Nasdaq down 30 points.
_________________________________________________________________________________________
Markets at 12 NOON:
LIVE market updates: The BSE Sensex tumbled to a low of 60,697 - down over 900 points from the early morning high of 61,621 on the back of selling pressure amid valuation concerns. The 30-share index was down 403 points at 60,856, and the NSE Nifty was down 111 points at 18,155.
Among the Sensex 30 stocks, Dr.Reddy's has slipped 2.8 per cent. HCL Technologies, Asian Paints, TCS, Reliance Industries and Tech Mahindra have dropped around 2 per cent each. Kotak Bank, however, continues to trade 3 per cent higher.
The broader markets were also trading with notable losses. The BSE Midcap and the Smallcap indices were down 0.7 per cent and 0.4 per cent, respectively. The overall breadth was marginally negative, with 1,637 declining stocks versus 1,456 advancing shares on the BSE.
Shares of Union Bank of India (Union Bank) hit a 52-week high at Rs 51.70, up 8.5 per cent on the BSE in Thursday’s intra-day trade. The stock has rallied 14 per cent in the last two trading days on improved business outlook, despite weakness in the broader market. READ MORE
Elsewhere in Asia, Japan's Nikkei slid 1.8 per cent to 28,725. Hang Seng too was down nearly a per cent. China Shanghai Composite, Straits Times and Kospi were down 0.1-0.3 per cent each, while the S&P/ASX 200 and Taiwan Weighted indices were flat.
Back home in other news, India scripted history as the cumulative COVID-19 vaccine doses administered in the country surpassed the 100-crore milestone.
________________________________________________________________________________________
Markets at 11 AM:
LIVE market updates: The markets continue to trade on a wobbly note as valuations fear and possible spike in inflation spook investors. The BSE Sensex was down 370 points at 60,890, and the NSE Nifty was down 106 points at 18,161.
Reliance Industries, Infosys and TCS accounted for almost 70 per cent of the fall in BSE Sensex, while Kotak Bank lended notable support.
Meanwhile, reuters report indicated that China Evergrande Group had secured a 3-month extension on a defaulted bond, offering rare respite to the developer a day after a deal to sell a $2.6 billion stake in its property services unit failed.
Back home, IT and consumer Durables shares lead the fall. MindTree down 8 per cent at Rs 4,393 was the biggest loser in the IT space. L&T Technology Services, NELCO, Coforge and Sonata Software were the other major losers.
Among the consumer durables, Volatas led the fall with a near 5 per cent decline. Crompton Greaves, VIP Industries, Shela Foam and Symphony were the prominent losers, down 2-3 per cent each.
__________________________________________________________________________________________
Markets at 10 AM:
LIVE market updates: The BSE benchmark index, the Sensex, touched a high of 61,621 in opening trades, and then slipped to a low of 61,164. The 30-share index was now down 21 points at 61,239.
The NSE Nifty was more of less unmoved at 18,267.
Vinod Nair, Head of Research at Geojit Financial Services says that, the ongoing market correction is not an overreaction and can sustain in the near-term due to high valuations. However, in the future Indian corporates will benefit from the reforms & China plus one strategy which happened during 2020-21. Alongside, the long-term economy & market trend is intact due to further re-opening of the economy, low-interest cycle and fiscal & private spending. This correction will give leeway for value-buying, defensives and upcoming stocks & sectors that evolved from this new demand.
Among the Sensex 30 stocks, Kotak Bank has rallied 2 per cent to Rs 2,055. HDFC, Sun Pharma, PowerGrid Corporation and NTPC are the other prominent gainers. On the flip side, HCL Technologies and Reliance Industries are down over a per cent each.
In the broader markets, Havells India has dipped 9 per cent to Rs 1,279 in intra-day trade on profit booking after the consumer electronics company reported a weak operational performance in the July-September quarter (Q2FY22). READ MORE
Shriram City, Sonata Software, Oil India and Jubilant Foodworks were some of the other significant losers.
On the positive front, IRB Infrastructure and Shoppers Stop have zoomed over 15 per cent each. Coffee Day and Rail Vikas Nigam were some of the major gainers.
____________________________________________________________________________________________
(Updated at 09:25 AM)
Opening Trades:
LIVE market updates: The BSE benchmark index opened 298 points higher at 61,558, and touched a high of 61,621. The index has since pared gains and was up 135 points at 61,395.
The NSE Nifty touched a high of 18,384, and was up 42 points at 18,309.
Among the Sensex 30 stocks, Sun Pharma, PowerGrid Corporation, Kotak Bank, NTPC and HDFC up around a per cent each were the prominent gainers, while HCL Technologies and TCS were the notable losers.
The broader indices were marginally up, with BSE Midcap index up 0.2 per cent, and the Smallcap index up 0.4 per cent.
Among sectors, the BSE Oil & Gas, Power and Realty indices were up over a per cent each in early morning trade on Thursday.
____________________________________________________________________________________________
Pre-open Session: (Updated at 09:04 AM)
LIVE market updates: The BSE Sensex was quoted 409 points higher at 61,669 in pre-open trades on Thursday. The NSE Nifty 50 was up 142 points at 18,409.
Sun Pharma, Bharti Airtel, PowerGrid Corporation, Tata Steel, ONGC and Infosys indicated a positive start for trade in the pre-open trades, while Bajaj Finance, NTPC and Sun Pharma seemed set for a negative start.
_______________________________________________________________________________________________
(Updated at 08:10 AM)
LIVE market updates: Market participants expect another day of choppy trading due to the weekly expiry and earnings of some of the index majors. Uninspiring global cues will likely keep sentiments subdued back home. At 8:05 am, SGX Nifty was up 41 points at 18,358 levels.
Earnings Today
Asian Paints, JSW Steel, Biocon, Container Corporation of India, IDBI Bank, Indian Energy Exchange, IIFL Securities, Indian Hotels, IndiaMART InterMESH, Lemon Tree Hotels, LIC Housing Finance, Bank of Maharashtra, Mphasis and TVS Motor Company are among 49 companies set to report their September quarter numbers today.
Global Markets
Asian stocks were mixed. Japan’s Topix index fell 0.3 per cent, Australia’s S&P/ASX 200 Index lost 0.1 per cent and South Korea’s Kospi index increased 0.2 per cent. S&P 500 futures, meanwhile dipped 0.2 per cent.
In the overnight session, the US stocks ended on a mixed note. The Dow Jones Industrial Average rose 0.43 per cent, the S&P 500 gained 0.37 per cent while the Nasdaq Composite dropped 0.05 per cent.
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