RIL, IT stocks help Sensex settle 195 pts higher; Nifty ends above 12,900

All that happened in the markets today

12:21 PM

MARKET UPDATE:: Broader indices outperform benchmarks; India VIX rises 5%

12:17 PM

NEWS ALERT :: Favipiravir as treatment for COVID-19 demonstrates significant improvement in time to clinical cure, says Glenmark Pharma

>> The oral antiviral medication Favipiravir, that prevents the replication phase of the virus life-cycle, leads to significant improvement in clinical cure in patients with mild to moderate Covid-19.

>> These findings were observed in a randomized, controlled Phase 3 clinical study conducted by Glenmark Pharmaceuticals, and the results are now published online in The International Journal of Infectious Diseases (IJID).

>> The Phase 3 study with antiviral drug Favipiravir, brand name FabiFl, was conducted in 150 patients as part of a randomised, open label, multicenter, Phase 3 study. Favipiravir was found to provide multiple treatment benefits, demonstrated by faster time to clinical cure, and significantly delayed the need for supportive oxygen therapy.

12:08 PM

Future group shares, RIL gain after CCI nod for Reliance Retail deal

On August 29, Reliance Industries (RIL) and Future Enterprises (FEL) announced the deal wherein Reliance Retail will acquire the retail & wholesale, logistics & warehousing business from Future group. Future is seeking to get out of its debt trap with the deal, while Reliance is looking to consolidate its position as the country's largest organised retailer with the transaction. The two players have said that they will go ahead with the regulatory process despite Amazon's objections. READ MORE 

 

11:59 AM

MARKET CHECK

11:58 AM

Discount model the new mantra for broking firms to gain market share

The quest to gain market share and acquire more customers is pushing full-service brokers to slash brokerage and adopt a discount broking model. Kotak Securities (KSL), a full-service broker, on Thursday announced the launch of its Trade-Free Plan, with zero brokerage on intraday trades and Rs 20 per order for all other futures and options (F&O) trades across equity, commodity, and currency segments. READ MORE

11:48 AM

NEWS ALERT :: Mindtree signs 5-yr deal with Nordex Group

>> To align the Nordex Group’s IT infrastructure with its strategic vision across the complete value chain, Mindtree will support the full stack transformation of its current IT operations and service delivery.

11:41 AM

Global fund managers expect emerging markets to outperform in 2021

Global asset managers believe the emerging markets (EMs) will be the best asset class in 2021, followed by the US markets and oil. Among the three, oil has been the worst-performer this year, slumping nearly 35 per cent. READ MORE

11:27 AM

Equitas, Ujjivan: How to trade financial stks on RBI's ownership guidelines

Ujjivan Financial Services Limited (UJJIVAN): With a sharp up move on November 23, the stock is heading towards the next resistance 200-WMA located at Rs 306 levels. If the stock manages to conquer Rs 306, then the upside bias may see a rally towards Rs 340 and Rs 350 levels. The support stays at Rs 275 levels, which is its 100-WMA. The trend looks promising as MACD is crossing the zero line upwards, as per the weekly chart. READ MORE

11:18 AM

Pharma shares in focus; Divi's Labs hits new high, Gland Pharma zooms 20%

Dishman Carbogen Amcis, Ipca Laboratories, Sun Pharma Advanced Research Company (SPARC), Caplin Point Laboratories, Dr. Lal PathLabs and Granules India from the S&P BSE Healthcare index were up in the range of 4 per cent to 5 per cent on the BSE. Meanwhile, the S&P BSE Healthcare index, the top gainer among sectoral indices, was up 1.7 per cent as compared to 0.17 per cent decline in the S&P BSE Sensex at 10:47 am. READ MORE

11:07 AM

Nifty Bank index falls 500 points from day's high

10:58 AM

Top losers on BSE at this hour

COMPANY	PRICE(rs)	CHG(%)
LEMON TREE HOTEL	31.15	-5.75
SPICEJET	69.55	-4.40
JAGRAN PRAKASHAN	39.55	-3.54
HATHWAY CABLE	30.55	-3.48
KALPATARU POWER	297.45	-3.30

10:49 AM

NEWS ALERT :: Praj Ind signs non-binding MoU with Ministry of Petroleum & Natural Gas

>>  The objective is to facilitate technological support to the entities for setting-up and commissioning of multiple number of eligible and qualified CBG Plants and their continuous operation for production of CBG and Organic Compost Manure under Sustainable Alternative Towards Affordable Transportation (SATAT).

10:46 AM

Lakshmi Vilas Bank hits record low; stock tanks 48% in four days

Shares of Lakshmi Vilas Bank (LVB) were locked in lower circuit for the fourth straight day after slipping another 10 per cent on Monday to hit a new low of Rs 8.10 on the BSE. The private sector lender's stock was trading below its face value of Rs 10 per share. It has tanked 48 per cent in the past four trading days after the government, last week, placed the lender under a one-month moratorium and superseded its board. READ MORE

10:37 AM

Q&A | Market valuations have become demanding: IIFL Securities MD R Venkataraman

The Nifty has rallied around 70 per cent from its March 2020 lows. While the recovery was fairly broad-based, the market performance could narrow. Select sectors and companies that have a visibly healthy growth momentum could outperform even if valuations are slightly demanding. READ FULL INTERVIEW HERE

R Venkataraman, Managing director, IIFL Securities

10:26 AM

Nifty Pharma index in focus, up 2%