Indices log biggest 1-day fall in 9 mths; Sensex sinks 1,939 pts, holds 49K
In the intra-day trade, the benchmark S&P BSE Sensex tumbled 2,149 points while the Nifty50 index slumped 629 points
12:59 PM
NEWS ALERT :: There is still great scope for the banking & insurance sectors in our economy, says PM Modi
12:56 PM
Govt has a clear vision for financial sector: PM Modi
- Financial services sector will play an important role in India's growth
- Govt wants a vibrant and proactive financial sector
- Govt has presented a roadmap to strenghten the financial services sector
12:47 PM
Rising Covid-19 cases likely to delay biz recovery of PVR, Inox Leisure
Shares of multiplex chain operators PVR and Inox Leisure have corrected in the range of 9 to 10 per cent from their recent highs as rising Covid-19 cases and continuous threat from rapid growth of over the top (OTT) platforms raise concerns over the pace of business recovery.
After consistent reduction in new Covid cases in the last few months, states such as Maharashtra, Punjab, Kerala, Chhattisgarh and Madhya Pradesh have started to see a resurgence in new cases. READ MORE
12:37 PM
Investors turn to pharma stocks amid market crash; Nifty Pharma gains 1.5%
Pharma stocks were holding their ground on Friday even as the rest of the market was painted red amid feeble global cues. At 11:50 AM, Nifty Pharma index was trading 0.2 per cent higher on the National Stock Exchange (NSE), compared with a 430-point or nearly 3 per cent cut in the Nifty50 index. In the intra-day trade, the Nifty Pharma index had gained 1.5 per cent on the NSE, and had hit a high of 12,322. READ MORE
12:28 PM
Worried about the market crash? Here's how analysts interpret the fall
A sharp crash in the US markets in the overnight session spilt over to other Asian markets too on Friday, with India being no exception. Both the benchmark indices BSE Sensex and NSE Nifty witnessed a nearly 3 per cent crash, forcing investors to scurry for cover. Financials, Reliance Industries (RIL) and tech majors TCS and Infosys were among the top drags. Marginal gains in select pharma names, however, cushioned the fall to some extent. READ MORE
12:23 PM
What to expect from Feb auto sales? Here's a take from Emkay Global
Wholesales growth is expected to continue for Tractors, PVs and 2Ws. Channel checks indicate better retail sales yoy in Tractors and PVs, while it is subdued in 2Ws.
- Tractor industry wholesales should grow strongly at more than 25% on better retails and channel filling. Volume growth is expected to be positive across regions. Domestic volumes should grow 28% for MM and 27% for ESC.
- PV industry volumes are likely to remain in the positive territory, with industry growth at over 15%. Domestic volumes should grow at 101% for TTMT and 29% for MM on a low base which resulted from supply issues present in the year-ago comparable period. In comparison, MSIL should see 7% growth. On a mom basis, MM’s volumes should be lower due to supply issues relating to electronic components. Discounts have declined yoy - by up to 2% of vehicle prices.
- Domestic 2W volume performance should be mixed yoy: Volume growth is likely for TVSL at 9%, EIM-RE at 8% and BJAUT at 4%, while volume decline is expected for HMCL at 8%. Volume performance in South, East and West regions has been better than the North region. Retails have declined in the North region due to the weakness in entry-level segment and lower marriage season demand. Executive and premium motorcycles are doing better than entry-level motorcycles. In comparison, exports are expected to be
strong across regions, except for the ASEAN market.
- Domestic CV volumes will be a mixed bag. Domestic CV volumes are expected to grow 22% for AL, 16% for EIM-VECV and 9% for TTMT, while decline 9% for MM due to supply issues. MHCV demand has been improving on strong Tipper/ICV demand and a gradual recovery in replacement demand as well.
12:16 PM
India VIX surges nearly 24% to 28.35
> VIX is used to measure the volatility in the market
12:03 PM
MARKET VIEW | Ajit Mishra, VP - Research, Religare Broking
The rising bond yields in the US have spooked investors sentiments which has led to a sell off in global markets. Moreover, the geo-political tensions between US and Iran have also weighed on sentiments. Nifty may see a short term trend reversal below 14,600. We thus advise keeping existing long positions hedged.
11:59 AM
Heatmap: Only five of the 30 S&P BSE Sensex constituents trade in green
11:46 AM
SECTOR WATCH :: Banking stocks worst hit; Nifty Bank, Private Bank indices plunge 4%
11:38 AM
Blue-chip stocks weigh on Sensex
11:30 AM
DHFL hits 5% upper circuit as RBI okays Piramal Group's resolution proposal
"Pursuant to the receipt of no objection from Reserve Bank of India as per Insolvency and Bankruptcy Rules, 2019, the administrator of Dewan Housing Finance Corporation Limited (DHFL) has filed an application for submission of resolution plan of Piramal Capital & Housing Finance Limited (PCHFL) with the adjudicating authority NCLT, Mumbai Bench," DHFL said in a regulatory filing. READ MORE
11:18 AM
Bear grip tightens! Sensex tumbles nearly 3%
11:07 AM
Bond yields, US air strike: What dragged the Sensex 1,300 pts lower today
A rise in commodity prices has fanned inflation risks, pushing bond yields higher. That apart, reports that the United States launched airstrikes in Syria on Thursday, targeting facilities near the Iraqi border further dented global mood.
Going forward, analysts expect the markets to consolidate after a sharp run since March in the backdrop of near-term headwinds. READ MORE
11:00 AM
Investors turn to defensives; Nifty Pharma index up 1% in a weak market
Topics : MARKET WRAP Markets SGX Nifty Sensex Nifty50 US Treasury Wall Street BSE NSE Dalal Street S&P 500 stock market
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First Published: Feb 26 2021 | 7:51 AM IST