Sensex dips 155 pts as record Covid cases weigh on indices; pharma stks up

Trends in the broader markets were mixed as the S&P BSE SmallCap index closed 0.7 per cent higher while the S&P BSE MidCap index dipped 0.07 per cent.

11:21 AM

Sebi frowns at MF industry's incorrect yield depiction of debt schemes

India’s market regulator has "informally expressed its displeasure" at mutual fund companies depicting the portfolio yield of debt schemes while leaving out the yields on cash and cash equivalents in marketing schemes, said sources. A portfolio yield is usually calculated by taking the weighted average yield of all the securities in the portfolio, including cash and cash equivalents. Excluding the cash portion while calculating the yield of a debt scheme can jack up overall fields of a debt scheme. Alternatively, a fund house could market a scheme by only showcasing returns that come from securities other than cash. READ MORE

11:10 AM

Fluctuating bond yields key risk for banks' profitability, NIMs in FY22

Post Wednesday’s monetary policy, 10-year bond yield once again softened to 6.0313 per cent on Thursday. While this is a sign of relief, given that it comes after a near 40-basis-point increase in rates seen in recent times, the Street is beginning to take note of the vast fluctuations in the bond yields. READ MORE

10:59 AM

SECTOR WATCH:: Nifty PSU Bank index gains over 3%

10:48 AM

Siemens gains 4% on signing MoU with Ashok Leyland for E-Mobility solutions

Shares of Siemens surged as much as 3.8 per cent and hit an intra-day high of Rs 1,912 on the BSE on Friday after the firm signed a memorandum of understanding (MoU) with Ashok Leyland's Switch Mobility Automotive to address need of electric commercial vehicle customers and execute EMobility Projects in India. READ MORE

10:38 AM

Sector Watch :: Metal stocks slip on profit booking

10:30 AM

Zensar Tech climbs 6% on entering into a partnership with Claimatic

Shares of Zensar Technologies extended gains to the third straight day on Friday and climbed nearly 6 per cent after the company announced a strategic partnership with US-based Claimatic. Following this development, the stock of Zensar Technologies jumped 5.70 per cent on the BSE in intra-day trade to touch a high of Rs 290. However, the scrip pared some gains and was trading 2.73 per cent up at Rs 281.85 around 9.55 am. At the same time, the BSE barometer Sensex was down 67.6 points or 0.14 per cent at 49,678. READ MORE

10:20 AM

Srei Infra zooms 20% as arm receives EoI for $250 mn capital infusion

Shares of Srei Infrastructure Finance Limited, on Friday, hit 20 per cent upper circuit at Rs 7.02 on the BSE after its subsidiary Srei Equipment Finance Limited (SEFL) said it has received expression of interest for up to $250 million capital infusion in the company from international private equity (PE) funds, US-based Arena Investors LP and Singapore's Makara Capital Partners. READ MORE

10:08 AM

Bond Market Alert

> 10-year benchmark bond yield opens at 5.99% vs previous close of 6.03%

> 10-year benchmark bond yield falls to lowest level since February 12

10:03 AM

Sector Watch :: Cement stocks rally on reports of price hike in Andhra, Telengana

>> According to media reports, cement manufacturers are eyeing price hike worth Rs 15-20/bag in the two states

10:02 AM

Most active stocks by volume

Company	PRICE(rs)	CHG(%)	VOLUME
Vodafone Idea	9.56	1.38	9137074
Central Bank	18.15	10.00	2314893
Bank Of Maha	23.65	11.56	1835212
Punjab Natl.Bank	38.40	2.54	1467932
S A I L	96.70	1.10	1252980

9:52 AM

Cyclical stocks to lead India Inc's earnings growth in fourth quarter

Led by a surge in prices of metals and energy and a continued better show by lenders, India Inc is expected to report high double-digit growth in revenue and one of the highest quarterly profits in the fourth quarter of 2020-21. Year-on-year growth, however, will be amplified by the low base in Q4FY20 due to Covid-19 lockdown. READ MORE

9:43 AM

MARKET VIEW | V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

Surging Covid cases have become an area of serious concern with an increasing number of cities & towns declaring night curfews. Unless this second wave peaks soon & subside, economic activity will be impacted and the market assumptions of above 10% GDP growth and above 30% earnings growth will be challenged. This big uncertainty will weigh on market sentiments for some time. The market is climbing all walls of worry. Activity has now moved to mid-small-caps. Nifty Mid-cap & Nifty Small-cap indices are up by 17.4% and 20% respectively for the year against a 6.4% gain for the Nifty. Bulls are chasing value in these segments. The sharp depreciation in INR following the announcement of G-SAP by the RBI will benefit exporters, particularly IT. US bond yields & dollar index cooling off is EM positive. That's why FIIs are not selling in spite of negative news.

9:43 AM

MARKET CHECK :: Sensex wipes off losses, turns positive

9:38 AM

Infosys cools off after hitting fresh 52-week high

>> The IT major said ArcelorMittal has chosen it to help accelerate the companys digital transformation journey and enable next- generation application management and business process management (BPM) services for ArcelorMittal Europe.

9:36 AM

Siemens rises 3% on signing MoU with Ashok Leyland

>> Switch Mobility Automotive, a unit of Ashok Leyland, and Siemens have entered into a Memorandum of Understanding (MOU) towards building a co-operative technological partnership in electric commercial mobility segment and execute e-mobility projects in India.