MARKET: Sensex erases day's gains, ends 52 pts lower; Bharti Airtel dips 3%

All that happened in the markets today

3:44 PM

SECTOR WATCH:: Nifty IT bucks the trend, ends over 1% higher

3:43 PM

MARKET AT CLOSE:: Gainers and losers on the S&P BSE Sensex

3:36 PM

CLOSING BELL

The S&P BSE Sensex ended 52 points, or 0.14 per cent lower at 38,365 levels while NSE's Nifty ended at 11,317, down 38 points, or 0.33 per cent. 

3:31 PM

Bharti Airtel trades lower for fourth straight day, hits 4-month low

In the past four trading days, shares of the company have underperformed the market by falling 10 per cent, as compared to a 2 per cent decline in the S&P BSE Sensex. Last week, the Supreme Court allowed telecom operators to stagger their adjusted gross revenue (AGR) dues over a period of 10 years, which is lower than the expectation of 15 years asked by Bharti Airtel and Vodafone Idea (VIL). READ MORE

3:14 PM

MARKET CHECK:: India VIX rises over 3% to 22.73 levels

3:06 PM

Sensex turns negative, down 76 points

3:02 PM

Fada welcomes Kamath panel reccos, but says few dealerships will benefit

“The recommendations of the report will benefit only a small section of dealerships, as we have an average current ratio of 0.8-0.9, due to the already two-year distress we have seen. Hence, the ratio, suggested at 1, will be a difficult condition to meet,” said Vinkesh Gulati, president of Fada, which has 15,000 dealers in the country as members. READ MORE

3:02 PM

SC decision to allow due payment over 10 yrs not enough to aid VIL: Fitch

The Supreme Court's decision to allow telcos to pay outstanding dues over 10 years will not be enough to help Vodafone Idea to stabilise its position, while Jio and Airtel are expected to strengthen their market shares through subscriber gains, Fitch Ratings has said. It further said another tariff hike of at least 20 per cent is probable in the next 12 months. READ MORE

2:51 PM

Stocks that hit 52-week high on BSE today

COMPANY	PRICE(rs)	52 WK HIGH	CHG(%)
ADANI GREEN	566.90	579.00	2.52
AMBER ENTERP.	1882.30	1997.40	2.42
ASTRAL POLY TECH	1288.85	1312.00	3.97
ASTRAZENECA PHAR	4264.00	4970.00	-7.08
DIXON TECHNOLOG.	9570.00	9766.25	7.24

2:43 PM

MARKET CHECK

2:34 PM

Global economy seeing V-shaped recovery, inflation may rise: Morgan Stanley

"The evidence indicates that the virus/economy equation has shifted decisively from the early days of the outbreak," they said in a note to clients, saying that the recovery has continued to gather momentum as countries get better at managing the virus. READ MORE

2:24 PM

Shree Pushkar Chemicals freezes at 5% upper circuit as promoter ups stake

On September 7, Gautam Gopikishan Makharia has bought 197,950 equity shares representing 0.64 per cent of total equity of Shree Pushkar Chemicals & Fertilisers at price of Rs 104.18 per share on the NSE via bulk deal, exchange data show. The names of the sellers, however, could not be ascertained immediately. READ MORE

2:13 PM

Top 5 gainers on the BSE at this hour

2:07 PM

Rupee Closing

Rupee ends weaker at 73.59 per US dollar vs Monday's close of 73.34/$

2:06 PM

BROKERAGE VIEW:: Anand Rathi Shares on Financials

With cases related to Covid-19 sharply increasing day by day and no vaccine, the pandemic-related disruptions might continue for a few more months. With the ability to generate healthy cash-flows for a few industries impaired by the Covid’19-related disruptions, we believe restructuring would only provide short-term relief to the banks. Given the impaired ability to generate healthy cash flow, some of these disruptions may continue for a few more months. We believe a good portion of these restructured accounts may eventually turn non-performing.