RIL, HUL, Airtel help indices log V-shaped recovery; Sensex ends 21 pts up
The correction was deeper in the broader markets where the BSE MidCap and SmallCap indices closed 0.70 per cent and 0.89 per cent down, respectively
12:35 PM
Mid-market view | Gaurav Garg, Head of Research at CapitalVia Global Research
In early sessions, Indian equities indexes lost over a percent due to selling in front-line counters. Lockdowns implemented by states in April and May to prevent the second wave of the fatal COVID-19 epidemic are likely to have caused the economy to drop by 12% in the June quarter, compared to a 23.9 percent contraction in the previous quarter, according to a private analysis. Traders also noted the Reserve Bank's assessment, which stated that the disastrous second wave of the coronavirus epidemic in April-May cost the country Rs 2 lakh crore in terms of output. On Thursday, U.S. technology stocks rose on expectations of a quick economic recovery, though the S&P 500 remained down following the Federal Reserve's surprisingly hawkish stance on monetary policy. As investors digested comments from the US Federal Reserve anticipating interest rate hikes in 2023, Asian markets were trading in the negative territory.
The market opened with a small gain but soon lost all the gains and breached the important support level of 15650 which led the market to slip further and took support near the level of 15480-15500. Technical factors indicate that if the market closes below the level of 15650 we can witness a sideways movement in the following trading days.
12:24 PM
Gautam Adani loses $9 bn in three days in worst wealth rout
The 58-year-old tycoon lost more money this week than anyone else in the world, with his personal fortune tumbling by about $9 billion to $67.6 billion, according to the Bloomberg Billionaires Index based on Wednesday closing prices. Just days ago, he was closing the gap with Mukesh Ambani as Asia’s richest man. Adani Group stocks continued to fall on Thursday. READ MORE
12:15 PM
Tips Industries locked in 5% upper circuit for 4th straight day
Shares of Tips Industries (TIL) were locked in 5 per cent upper circuit for the fourth straight day at Rs 1,124.80 on the BSE on Friday in an otherwise weak market after the company reported robust set of numbers for the March quarter (Q4FY21). The stock of the movies & entertainment company was trading at its all time high level. READ MORE
12:02 PM
Laurus Labs, Alkyl Amines: More steam left after 1,000% gain from 2020 low?
Stock market investors have seen their wealth grow multi-fold over the past one year, after the markets began recovering from March 2020 crash. At the headline level, the S&P BSE Sensex index has doubled since the low hit on March 23, 2020 and it claimed a new all-time high of 52,859 in June, 2021.
Individually, certain stocks, including Tanla Platforms, Adani Total Gas, Adani Enterprises, Birlasoft, and Laurus Labs, have given returns between 700 per cent to 1,900 per cent during the period amid broad-based rally and positive news flow. READ MORE
11:51 AM
Forex has helped avert a currency run, but continuous inflow has its risks
From a low of $275 billion in September 2013, when the country had a run on its currency, India’s foreign exchange reserves have more than doubled in the past eight years to $605 billion. Only three countries in the world have substantially higher forex reserves than India – China, Japan, Switzerland. As on June 4, Russia’s and India’s reserves were at almost the same level; these could swing either way in the coming weeks and months. READ MORE
11:40 AM
BOJ plans to launch new scheme on climate change, keeps policy steady
The Bank of Japan said on Friday it will launch a new scheme to encourage financial institutions to boost lending and investment for fighting climate change, in a surprise move underscoring the growing attention central banks are putting on the topic. The BOJ said it expects to launch the scheme by the end of this year, and will release a preliminary outline of the scheme at its next policy-setting meeting in July. READ MORE
11:30 AM
CLSA initiates coverage on Nazara Tech with Sell rating; stock tanks 12%
Shares of Nazara Technologies tanked 12 per cent to Rs 1,463.75 on the BSE in intra-day trade on Friday, amid heavy volumes, after the foreign brokerage firm CLSA initiated coverage on the stock with a Sell rating and target price of Rs 1,095, citing hefty premium valuation. The stock was trading close to its 52-week low level of Rs 1,412.50 hit on April 12, 2021. It had hit a high of Rs 2,026.90 on its stock market debut day, March 30, 2021. READ MORE
11:19 AM
» More on Top Losers
Top losers on BSE at this hour
Company | PRICE(rs) | CHG(%) |
---|---|---|
Graphite India | 575.05 | -13.91 |
Nava Bharat Vent | 104.05 | -9.29 |
JSW Energy | 147.90 | -8.19 |
HEG | 1989.00 | -7.99 |
Jai Corp | 140.95 | -7.63 |
11:11 AM
NEWS ALERT :: Voda Idea could raise funds via FDI route
11:02 AM
ALERT :: Nifty hits a low of 15,450
10:57 AM
Heatmap | Top Sensex gainers & losers with index down 500 points
10:56 AM
Sensex crashes 500 points, hits day's low
10:55 AM
SBI Cards declines 6% after nearly 7% equity changes hands via block deal
Shares of SBI Cards and Payment Services tanked 6 per cent to Rs 984 on the National Stock Exchange (NSE) in intra-day trade on Friday after nearly 7 per cent of the company's total equity changed hands on the NSE and BSE. At 10:26 am, the stock was trading 5.5 per cent lower at Rs 994 on the NSE. Earlier in the day, around 64 million shares, representing 6.8 per cent of the total equity of the company, changed hands on the NSE and BSE, exchanges data shows. READ MORE
10:48 AM
Amid surge in retail participation, STT collection set to double in Q1FY22
The Securities Transaction Tax (STT) collection for the June quarter is set to be more than double from the year-ago period. Buoyancy in the stock markets, coupled with increased retail participation, has boosted trading activity and helped shore up STT. According to government sources, the revenue department has collected Rs 5,178 crore STT for the first quarter of 2021-22 (FY22) until June 16. READ MORE
10:42 AM
Primary Market Update :: Dodla Dairy IPO subscribed nearly 4x
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Topics : MARKET LIVE Markets BSE Sensex Nifty50 MARKET WRAP
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First Published: Jun 18 2021 | 8:05 AM IST