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

All that happened in the markets today

11:45 AM

BUZZING STOCK:: Route Mobile continues to surge, up 13% in an otherwise weak market

11:31 AM

Here's how trendlines can help traders catch that perfect breakout

A trendline indicates a broad trend, especially when considered on a bigger scale and helps in developing a trading strategy. A trendline is drawn considering the “lower lows” in terms of support and “higher highs” as resistance points to identify the next influential levels. This could take a horizontal form as well. The idea is to recognize whether the price is holding the trendline or not. Nowadays, most day-traders use trendlines to get a sense of the trading sentiment. READ MORE

11:16 AM

Infosys, TCS, RIL contribute the most to Sensex's 600-point drop today

11:05 AM

MARKET UPDATE:: Broader indices underperform benchmarks; India VIX up 5%

10:58 AM

Syngene Int'l hits record high in a weak market, rallies 26% in two weeks

Shares of Syngene International hit a record high of Rs 596.85, surging 6.5 per cent on the BSE in the intra-day trade on Thursday in an otherwise weak market. The stock surpassed its previous high Rs 594.75 touched on September 15, 2020. In comparison, the S&P BSE Sensex was down 1.5 per cent at 37,115 points at 10:13 am. In the past two weeks, the stock of the pharmaceutical company has rallied 26 per cent against a 4.4 per cent fall in the benchmark index. READ MORE

10:35 AM

MARKET CHECK:: Sensex extends fall

10:25 AM

BUZZING STOCK:: Advanced Enzyme surges 12% in an otherwise weak market

10:20 AM

BROKERAGE VIEW | ICICI Securities on Bharat Forge

RATING: REDUCE | TARGET PRICE: Rs 412

Aerospace segment outlook remains uncertain due to Covid-19 pandemic; however, recent defence procurement policy shift has raised investor confidence in BHFC’s potential to win artillery guns’ orders. We deep-dived into the artillery segment opportunity, analysed global peers (e.g. Rheinmetall) and our base case incremental DCF value is ~Rs41/share. Key risk: If the Kalyani group chooses to bid for defence orders via Kalyani Strategic Systems BHFC benefits drops by 50%. We roll forward earnings into Sep’20, upgrade our rating to REDUCE from SELL.

10:14 AM

Tata Chemicals gains 8% in 2 days as Tata Sons buys additional stake

Shares of Tata Chemicals rose 3 per cent to Rs 301 on the National Stock Exchange (NSE) on Thursday, surging 8 per cent in two days in an otherwise weak market after the promoter, Tata Sons, bought over 2 million shares via open market. In comparison, the Nifty50 index has slipped nearly 3 per cent in the same period. READ MORE

10:12 AM

NEWS ALERT :: Cabinet meeting likely at 11:15 am today

10:09 AM

BROKERAGE VIEW | Prabhudas Lilladher on Dr Reddy's

Rating: ACCUMULATE | TP: Rs 5,648

We incorporate benefits from new launches and roll forward our base year of valuation to FY23E (from FY22E) though maintained our assigned PE 24x, given its sustainability of improved earnings visibility led by new host of launches. Our new TP is Rs 5,648 (earlier Rs 4,326) with gRevlimid benefit contributing Rs 262/share (assigning 1x(PE) to discounted cash flow of gRevlimid benefit over FY23E-26E). We also change our rating to Accumulate (earlier Hold).

10:05 AM

Rupee opening

Rupee opens weaker at 73.82/$ vs Wednesday's close of 73.57 against the US dollar

9:58 AM

MARKET UPDATE :: Nifty tests 11,000

9:55 AM

Most active stocks by volume

COMPANY	PRICE(rs)	CHG(%)
VODAFONE IDEA	8.92	-3.25
GMR INFRA.	21.10	-1.63
IDFC FIRST BANK	28.00	-1.58
FUTURE CONSUMER	7.97	-4.21
B H E L	30.75	-2.38

9:45 AM

ONGC shares slide 3% as massive fire breaks out at Surat plant

Shares of Oil and Natural Gas Corporation (ONGC) dipped 3 per cent to Rs 65.45 on the BSE on Thursday after a massive fire broke out at the state-owned exploration & production company‘s plant in Surat, Gujarat. No one has been injured in the accident so far, the company said. “The reason for the massive fire is being attributed to three consecutive blasts that took place at two terminals of the Hazira-based ONGC plant in Surat at around 3:30 am. The sound could be heard at a distance of over 10 km,” ANI reported. READ MORE