Sensex ends 97 pts lower amid geopolitical tensions, rise in Covid-19 cases

All that happened in the markets today

12:24 PM

MARKET UPDATE :: Sharp upmove in cement stocks

COMPANY NAME	LATEST	HIGH	LOW	CHG (rs)	CHG(%)	VALUE (rs CR)	VOLUME
INDIA CEMENTS	134.00	139.30	128.65	8.00	6.35	15.39	1148183
SANGHI INDUSTRIE	24.05	24.05	19.45	4.00	19.95	1.26	524326
ORIENT CEMENT	68.85	72.20	59.15	7.95	13.05	3.02	438040
SH. DIGVIJAY CEM	47.75	48.50	42.55	5.30	12.49	2.05	429546
UDAIPUR CEMENT	10.50	10.50	9.45	0.92	9.60	0.23	218444
GUJ. SIDHEE CEM.	32.20	32.20	26.00	5.35	19.93	0.67	206752

12:17 PM

Global fund managers cautious on equities; geopolitics, Covid-19 key risks

Global fund managers remain cautious on equity as an asset class despite the sharp recovery in frontline major indices across the globe, with those at BofA Securities terming the up move as a ‘bear market rally.’ While those at HSBC doubt whether the recent rally will sustain, analysts at Morgan Stanley say geopolitics and Covid-19 infections remain key risks. READ MORE

12:10 PM

MARKET UPDATE:: Top 5 gainers on the BSE at this hour

11:58 AM

Interest Waiver Case | SC defers hearing to first week of August

>> Asks Centre, RBI to revisit the issue of moratorium

11:54 AM

Interest Waiver Case | Indian Banks Association, SBI bat against “across the board” waiver of interest

>> IBA, SBI argue that the situation is evolving, SC should defer hearing in this case for 3 months.

11:52 AM

Interest Waiver Case | SC asks Centre to clarify if Banks can charge interest on deferred interest.

>> SC observes that the issue can’t be left to the banks, borrowers.

11:50 AM

Interest Waiver Case | SC observes, people haven’t opted for moratorium because they know they are not getting any benefits

>> Govt can intervene, can’t say the issue is between banks and borrowers. 

 

>> Govt has to make benefits of the moratorium available to the people. 

(As reported by CNBC TV18)

 

11:41 AM

Interest Waiver Case | Waiver can’t be issued like a free gift; 90% customers have not sought moratorium: SBI to SC

11:37 AM

Interest Waiver Case | SC observes, we see no merit in charging interest on interest.

>> Once you fix a moratorium it should serve the desired purpose. 

>> Govt can’t leave everything to banks, can consider intervening on the issue

11:33 AM

Interest Waiver Case | Banks say plea seeking interest waiver is “premature”

>> Need to see what is on the other side of the tunnel, critical sectors such as Agri might need support.

>> We will consider payment deferrals on a case to case, sector to sector basis

(As reported by CNBC TV18)

11:25 AM

Nifty Bank index trades in the green; Axis Bank up 2%

11:21 AM

Interest Waiver Case | Not advisable, feasible to waive interest for 6 months, Centre tells SC

>> Banks have to issue interest to depositors parking their savings

>> Interest waiver would put to risk financial stability of the banking system.

>> Waiver of interest will hurt the interests of depositors

(As reported by CNBC TV18)

11:09 AM

BUZZING STOCK:: Cholamandalam Investment rises 5% in an otherwise weak market

11:03 AM

Traders advise caution as retail activity in F&O segment picks up

For instance, the Nifty put option — with a strike price of Rs 9,900 — saw its premium touch the day’s high of Rs 246, before seeing an erosion of 54 per cent from these levels. “Such moves led to capital erosion for investors who had taken large positions on the put side,” he added. An executive of a leading brokerage and financial services firm said retail investors should enter the F&O segment only with money they can afford to lose. “At any point of time, investors should not have more than 5-10 per cent of their portfolio exposed to F&O,” he said. READ MORE

10:52 AM

NEWS ALERT :: Sebi allows promoters preferential allotment up to 10% Vs 5%

>> Relaxes preferential allotment norms for promoters till Mar 2021

>> Relaxes voluntary open offer norms, removes timeline restrictions

>> Relaxes restrictions on voluntary open offer if shares purchased within 52 weeks

(As reported by CNBC TV18)